Lionheart Share Discussion Threads

[currypasty] 28/12/2000 10:03

Leslas .. can you give us a link ?

[leslas] 28/12/2000 09:35

Good article on UK. Invest.com

[leslas] 28/12/2000 09:34

Good article on UK. Invest.com

[mg] 28/12/2000 00:52

Not what I'd expected (or been told) - but Luke Johnson, Gary Ashworth and Jim Mellon are now leaving it to older and wiser (old economy) hands. Shame really because I really thought this would be a good punt during 2000.

Now M& G have agreed to pick up the three amigos stake to back the new boys - that makes this a shell with significant institutional interest -

Schroders 10%
Montanaro UK Special Situations 5%
M&G 29%

Good to see that the boys made something out of it with M&G buying at 30% above their initial stake i.e. 8.5p v 6p - but what looks good to me is that M&G are also buying up the warrants for a token figure in order to extinguish them - hence improving shareholder value.

Price rose on the announcement 22/12 and making good ground today - getting up to the 8.5p mark. Now we've had the announcement I reckon the new management will soon let us know what they have up their sleeves. Why else have they agreed to come on board with M&G.

Watch this space !!

[sreddy] 28/12/2000 00:37

I'm the one who bought 250,000 this morning. I'm not a friend of Nock!'s, I just noticed his post and read the announcement and thought I'd join M&G. With £11m in the bank, at least this is not going bust. I hope M&G know more than they are letting on.

Sid

[charles bronson] 27/12/2000 12:31

Hello mate

I was fortunate enough to have had the oppposite experience when dealing in LNT. I think I held for about 4hrs and made over 100%.
That aside I agree with your sentiment regarding LJ, but it does look as if he may be out of the way now, don't you think?

PS not holding yet!

good luck pete

cb

[superpete] 27/12/2000 12:23

cb good morning.I have posted based on my personal experiences of Lionheart and having seen the man views on Johnson.I am in no way knocking the potential upside for Lionheart for there is plenty and always was. With money in the bank, can pick & choose from a range of companies,which have become cheaper in the intervening period, to buy and reverse into it.

[charles bronson] 27/12/2000 12:01

superpete
keep up!

cb

[master rsi] 27/12/2000 09:50

LNT is having another run today as two large buys early on the morning move the price up.

[superpete] 24/12/2000 21:26

Lionheart is the worst "at best" purchase I have ever made. Thought I was buying in at around 24p and got stung for 44p!Compounded error by buying more at 30p and 20p to average down based on Luke Johnson's reputation and Gary Ashworth for building good solid growth businesses and share holder value.Eventually sold the lot for 8p.I felt seriously let down by all three directors.From the back to the floor screening,Luke Johnson just beggars belief and I have no respect for the man.imho Luke Johnson has no creditability in my book and I would never again touch a company in which he is involved.

[viren] 24/12/2000 17:56

Sell on roumer sell on fact in this case.

[pawpaw] 24/12/2000 17:50

I do not believe that this guys has the interest of the shareholders at all. I am not sure why they were brought in initially. i am particularly appalled at luke Johnson's underperformance. I have always have great respect for his management acumen but was disappointed after reading about his Belgo. I think it's a good thing they are leaving and hopefully m&g and the new directors will know the importance of enhancing shareholders value and possibly turn the company around.

[asph] 22/12/2000 23:10

seems clear enough at this stage ie half of the 3 's shareholdings are being bought for 8.5p each provided a price can be agreed for the other half of their holdings during the next two weeks------or does someone read it otherwise ?

[currypasty] 22/12/2000 16:46

Its about time they went, probably had no intention of doing anything with our cash. just hope there is still time for m & g to pull a rabbit out of the hat. Anyone know what they paid for their 8.5p cut ?

[master rsi] 22/12/2000 15:25

Those news could turn round again the company ....

RNS Number:3284W
Lionheart PLC
22 December 2000

Lionheart plc


* Purchase of 14.9% of the issued share capital of Lionheart by M&G.


* Agreement by Luke Johnson, Gary Ashworth and James Mellonto resign from
the board.


* Agreement by Hamish Grossart to join the board.


* Agreement by David Gawler to join the board.

M&G has today purchased for 8.5p per share 26,839,470 Lionheartordinary
shares held by Luke Johnson, Gary Ashworth and James Mellon ('the Investor
Group') comprising approximately 14.9% of Lionheart's issued share capital. In
addition to this purchase of Lionheart ordinary shares the following
arrangements have been entered into:


* Non binding letters of intent have been signed pursuant to which the
Investor Group intend to sell their remaining 26,865,501 Lionheart
ordinary shares to M&G over the following two weeks in accordance with the
Rules Governing Substantial Acquisitions of Shares issued by the Panel on
Takeovers and Mergers;


* M&G have been granted a put option whereby should M&G be unsuccessful in
acquiring the remaining 26,865,501 Lionheart ordinary shares all Lionheart
ordinary shares purchased by M&G from the Investor Group may be
compulsorily sold back to the Investor Group; and


* the warrants to subscribe for 54,039,205 Lionheart ordinary shares which
were issued to the Investor Group when they subscribed for their shares in
January 2000 will also be purchased by M&G for a nominal consideration of
#3.00. 27,010,536 of these warrants have been purchased today and the
remaining 27,028,669 warrants will be purchased if M&G purchases the
remaining 26,865,501 Lionheart ordinary shares held by the Investor Group.
M&G have agreed to cancel all the 54,039,205 warrants if M&G are
successful in purchasing the remaining 26,865,501 Lionheart ordinary
shares held by the Investor Group. If M&G are unsuccessful in purchasing
the remaining shares held by the Investor Group the warrants will be
returned to the Investor Group if the put option referred to above is
exercised.


If M&G purchases the remaining Lionheart shares held by the Investor Group,
M&G will hold a total of 53,704,971 shares representing approximately 29.8% of
the Lionheart ordinary share capital.


Luke Johnson, Gary Ashworth and James Mellon have agreed to resign as
non-executive directors. These resignations will become effective as soon as
the Investor Group has sold its entire holding of Lionheart ordinary shares to
M&G.


Hamish Grossart (43) and David Gawler (61) have been asked to join the board
and have agreed to take office once the Investor Group has sold its entire
stake in Lionheart to M&G. Mr Grossart and Mr Gawler bring with them a wealth
of public company and acquisition experience and will actively pursue
opportunities to enhance shareholder value. In particular the newly
constituted board will seek to identify underperforming companies which may be
acquired, turned around and managed for growth. Going forward the board will
be mindful of the underlying asset value per share in issuing any new equity.


Hamish Grossart's background is in investment banking. He served as managing
director, and later as chairman for the financial services business EFT Group
plc from 1987 until the sale of the group to the Bank of Scotland in 1997. He
has extensive experience in acquisitions, turnarounds and managing companies
for growth. His past chairmanships have included Hicking Pentecost plc,
Eclipse Blinds plc and Scottish Highland Hotels plc. He is currently a
director of several quoted and unquoted companies, and is deputy chairman of
Scottish Radio Holdings, Deputy Chairman of Cairn Energy, Chairman of Indigo
Vision plc and Chairman of Royal Doulton plc.


David Gawler is a Chartered Accountant who qualified with Price Waterhouse in
South Africa. His most recent executive role was as chief executive officer of
Semara Holdings plc (formerly Sketchley) where earlier this year he engineered
the successful disposal of the group to Johnson Service Group plc. He has held
senior executive appointments in industries ranging from oil, heavy industry,
engineering and construction to property development and investment. During
his career he has worked in the United Kingdom, Europe, the Far East and
Africa, frequently with responsibilities focused on restructurings or
refinancings. Before his time at Semara Mr Gawler was with the Jardine
Mattheson Group, where he was finance director of HongKong Land Holdings
Limited and subsequently of Trafalgar House plc. Prior to that he was group
treasurer of The Burmah Oil Company, corporate treasurer of The British Steel
Corporation and held several other financial appointments within Occidental
Petroleum and The Gulf Oil Corporation.


Peter Pollock, Chairman, commenting on the acquisition of shares by M&G and
the Board changes said, 'I am delighted to see M&G come on to bolster the
institutional presence on the share register. I am also looking forward to
welcoming Hamish Grossart and David Gawler to the board and working with them
as we pursue opportunities to enhance shareholder value.I am confident that
this investment by M&G and the board changes heralds a significant development
in Lionheart's future.


Enquiries:


Peter Pollock Tel: [phone]

Lionheart plc


Ian Dighe

Bridgewell Corporate Finance Limited Tel: [phone]

07785 703261

END

[master rsi] 13/12/2000 00:46

LNT- Someone's buy of 100.000 at 10.21 a.m. took away the only M M offering at 6p, now to buy is 6.25p. It was a 250th buy yesterday that it help the upward movement.

[currypasty] 12/12/2000 15:38

Im in at 25p t@ats.

[faceless] 12/12/2000 15:33

my worst buy ever and still stuck with them----LJ to busy eating his pizza`s to be bothered about this one and it`s hard to think what will come of the company.

[master rsi] 11/12/2000 09:24

LNT The Cash Shell Co. is trading at 5.75-6p below the price on deposit £11million (6p).
Has plenty of upside, if it manage to adquire the right and cheap company the directors are looking for. The Recruitment sector will do the job.
Last friday the share price move up , after a few large buyers got in.

[mg] 01/11/2000 14:51

Well, my little snippets of information above seem to have come to nothing so I'm keeping my powder dry after all these months, except to say that I think the share movement today suggests something is about to break.

I suspect that they are talking seriously with a view to a deal which, given the time they've taken, better be a good 'un - and I think it will be.

[leslas] 07/10/2000 16:15

they went up 3/4p on Friday in late trade ? [e-mail]

[buba] 03/9/2000 00:15

No,but have you heard anymore?

[mg] 04/7/2000 13:58

Looks like this has been a monthly update with very little interest (or movement in the share price) - but this time I think we are quite close to there being an announcement - if anyone's interested.

I'm led to believe that LNT are moving ahead quite nicely on a couple of potential acquisitions - one here and one in the States. The deals would probably require finance to be raised - through their mates in the City and, hopefully, current shareholders. They currently have 11m to spend but their targets would probably cost them about £40m if both came off. Both sets of negotiations are thought to be at a well advanced stage with a lot of Board activity but nothing appears to have been leaking out to the press. I suspect they will be wanting to keep their powder dry after the Regalian debacle.

There is also talk of LNT being approached to do a mega deal - involving a very big name in the FTSE 250 - but that is very early days and would mean a couple of billion being raised through the City. Doubt if anything will come of the latter but they might just pull off what the Knutsford superstars were unable to do.

Anybody else been hearing things ?

[mg] 01/6/2000 09:20

I thought I'd resurrect this thread even though I seem to be the only one interested in this little cash shell.

The three new directors have been extremely quiet over the last few turbulent weeks/months - I understand that they have been carefully sifting through the wheat/chaff to find a potential acquisition target. I also understand that they are at an advanced stage with one of those targets and that it is likely to be in the recruitment/employment/training field - specialising in the IT/Comms field - with world wide potential. That may or may not come to anything - but if it does I think we might some interesting action.

The share price has been twitching a bit lately with MMs opening the spread each morning for the last few days - possibly anticipating an announcement. Since they are now trading at or below the price before it was transformed into a shell (fundamentals give us about £6m in cash at 31/12/99) there seems to be little downside but significant upside if they announce a decent deal. Interesting that the placing and open offer was at 6p - which looked very generous when the stock had reached 43.5p based on expectations of great things from the new investors. Market Cap at the current price is £15.8m - so I suppose they could drop to about 4p to match MC - meaning no premium to take account of the main investors - Schroders, Mellon, Johnson and Ashworth have 10% each with Montanaro UK Smaller picking up 5% as part of the placing and open offer in December at 6p.

I've recently doubled up my holding in these [initially getting in at 19.5p:( ] so I obviously have a vested interest but I do think they are well worth watching in the short/medium term.