Likewise Share Discussion Threads

[william127] 14/11/2023 11:30

Stated in January presentation that payments will come from cash by Tony Brewer. Since then interim dividend has started. Very heavily owned by directors I see no worries at all in financials with LIKE.

[velocytongo] 10/11/2023 21:10

One more thought on LIKE, if you add the amounts due next year to Valley and Delta, current assets do not cover current liabilities (i.e the current ratio). It is 0.94 and not above 1 as you would expect. This is a credit red flag for obvious reasons.

The share price is depressed for a reason.

[velocytongo] 10/11/2023 16:35

I agree with the comments about Headlam and these trade counters. Headlam did allude to financial stress amongst competitors at the most recent update and they may have been referring to LIKE

FD left (although still listed as working there on Linkedin) and that was slipped into the interims (and normally there is a separate announcement); the more pressing issue is the £4.2m in cash that is due Jan 2024 and £0.4m due April 2024.

As part of the Valley Wholesale Carpets acquisition

"The Company will also issue the Consideration Shares, being 5.0 million Ordinary Shares, to the Valley Wholesale Carpets Vendors. The Consideration Shares are underpinned by a £5.0 million valuation on the second anniversary (Jan 2024)of Acquisition Completion, such that, should the Consideration Shares be valued at less than £5.0 million on that date, the Company will pay the Valley Wholesale Carpets Vendors the difference in cash."

So, 5,000,000 shares are due to come onto the market in two months' time, and, assuming a share price of 16.4p, LIKE will have to pay out £4.18m in cash. I'm not sure the company envisaged this when it did the deal.

Likewise, excuse the pun, 500,000 shares are due on the market for the Delta acquisition with a v similar arrangement to the Valley deal.

"500,000 new £0.01 shares in Likewise Group Plc valued at £187,500 at the date of acquisition which includes a guaranteed cash payment of the difference between £1 per share and the share price on 1 April 2024. At current prices, the company will have to pay out a further £418k in April 2024."

This is going to make the going concern discussion with auditors interesting given c £28m in loans and leases. The share-related payments, totaling £4.6m between Jan and April, are going to use up the existing cash/liquidity of £4.5m. The company will need a v strong Xmas trading period.

[rudder] 27/10/2023 12:38

Some decent buying at last.

[aim0raider] 26/10/2023 07:18

Joint broker. Funding in progress?

[eigthwonder] 23/10/2023 19:04

The relevant news elsewhere (house sales and consumer confidence) has been dire

[my retirement fund] 23/10/2023 17:36

Looks like a big holder has thrown the towl I and is existing at any cost. Big dumping going on.

[my retirement fund] 05/9/2023 09:07

Yea but so have Headlam!

[william127] 05/9/2023 08:01

HEADLAM RESULTS TODAY.Hope we are taking some of this. "We have continued to make investments across the business to support future growth, which positions the Group favourably as volumes recover. The Group's UK volumes are now around 20% lower (on a rolling 12-month basis) than in 2019,"

[william127] 28/7/2023 11:51

Hi TigerMessage sent

[william127] 27/7/2023 11:12

Directors buying today

[s34icknote] 27/7/2023 10:44

Could this be a Thomas cook jet 2ScenarioLike taking business from headlam ?

[william127] 27/7/2023 08:49

Headlam today are blaming everything on their news release. All Headlam posters are convinced its a blip. Time will tell but I am firmly staying in this camp.

[castleford tiger] 14/6/2023 11:53

william
not had any message

[essentialinvestor] 30/5/2023 13:46

William, as someone who is interested in Headlam (not holding atm)
thanks for your above posts, something to think about.
LIKE a bit small for me at this stage but best of luck to holders.

[william127] 30/5/2023 13:40

Please call. If you didn't get my message with details let me know here.Thanks

[castleford tiger] 30/5/2023 11:07

thanks William.

I hear what you are saying but LIKE are not making a profit yet.

can we chat direct on whats app especially if you are a MFX holder

cheers Tiger

[william127] 30/5/2023 07:44

Trading update positive. 17.7% increase in revenue and Glasgow distribution centre opens today.

[william127] 28/5/2023 21:11

Hi TigerI don't think you will find Headlam taking out Likewise. Headlam have been selling more and more to fitters allowing cutting on site at Headlam Units. Also selling to trades which are not flooring related through the much publicised trade counters. This has obvious short term gain but they are generating HUGE discontent amongst the independent retailers who make up most of the business. This a gift to Brewer. Like are finaly resolving stock issues that could have been better. Distribution is near completion for this phase. If you do make the MFG agm it would be good to meet.

[1watty] 13/5/2023 22:27

Next Monday and Tuesday should be interesting with Midas recommendation in this weekend's Mail on Sunday followed by the Results on Tuesday.

[my retirement fund] 15/4/2023 09:18

Agreed. Like could be interesting.

[essentialinvestor] 14/4/2023 12:44

Headlam is the sector gold standard.

[my retirement fund] 14/4/2023 12:37

Back in after recent positive update