Lo-Q Share Discussion Threads

[spud] 14/4/2012 10:37

bonio, my thoughts exactly!! I rather think the 'to pay the tax bill' is a rather overworked LO-Q soundbite! And no, i'm not looking to buy any more at present...

spud

[davidosh] 13/4/2012 16:15

fft...that is probably why he waited until after 5th April so that further tax will not be due until January 2014. If he had sold pre the tax year end then further tax would be due in this tax year and the early sale gives him time to find some losses to negate his gains on LOQ !

[fft] 13/4/2012 16:13

Maybe i have this wrong, but it seems to me that the money raised by this sale would be to pay a previous years tax bill.

Presumably, in this financial year he will have a sizable CGT bill for this sale, which will need to be paid after april 2013.

Is that correct ?

[davidosh] 13/4/2012 16:07

I rather think it must be a tax matter that has somehow caught up with him to put him under such financial distress that he would need to sell ALL his holding. Naturally we do not know the exact circumstances but there should be confidence that a buyer or buyers are taking on the stock at an average well above the current share price

[shanklin] 13/4/2012 15:59

I wish more non-execs had been involved in companies where the share price has gone up by a factor of 100.

[bonio10000] 13/4/2012 15:17

Lol at the RNS.

has to sell £450k of shares to foot a tax bill - which would imply a profit of £1m odd at 50% tax.

And of that "profit" he didn't save any and has to use his shares to foot the bill?

Good to see the remuneration committee issued those shares at 3p. More quality non-exec management.

[fft] 13/4/2012 15:14

BTW, he never bought the shares in the first place (exercise at 3.5p), and he sold enough (18p - those were the days !) to cover it.

RNS Number:0232N
Lo-Q PLC
31 January 2008

Directors' shareholdings

Lo-Q plc (the "Company")

The Company received notification that John Lillywhite and Tony Bone, directors
of the Company, have today exercised options over 209,000 ordinary shares of 1p
each in the Company ("Shares") and 182,875 Shares respectively, all at an
exercise price of 3.5p per Share.

The Company also received notification that today Mr Lillywhite and Mr Bone have
sold 104,500 Shares and 91,437 Shares respectively at 18p per Share in order to
realise sufficient funds to settle the resultant tax and national insurance
liability arising as a result of the exercise of their options.

As a result of the above transactions, Mr Lillywhite's interest comprises
145,500 Shares, representing 0.9 per cent. of the enlarged issued share capital
of the Company, and Mr Bone's interest comprises 331,517 Shares, representing
2.12 per cent. of the enlarged issued share capital of the Company.

[shanklin] 13/4/2012 15:13

It certainly sounds like a distressed sale albeit I presume there are currently other sellers about.

[fft] 13/4/2012 15:03

Not a very impressive RNS. Perhaps a Non-exec who should be dropped as he appears to have serious financial problems if he has to sell *all* his shares where he is a non-exec chairman. Doesnt he have other assets ?


Lo-Q (AIM: LOQ), the AIM listed provider of virtual queuing systems for theme parks, water parks and major attractions, today announces that it received notification on 11 April 2012 that Mr John Lillywhite, Non-Executive Director of the Company, sold 145,500 ordinary shares of 1 penny each ("Ordinary Shares") on 11 April 2012, at an average price of 296.5p each, representing approximately 0.84% of the Company. This sale was carried out by Mr. Lillywhite in order to help meet some taxation expenses.
Following this sale, Mr Lillywhite no longer holds any Ordinary Shares in the Company and retains an interest in 40,000 options over Ordinary Shares

[rivaldo] 13/4/2012 11:21

Spud, I'm thinking you want to buy some more :o))

Hopefully still time for some more contract wins or partnership news.

EDIT - I see the director who's sold at least has the excuse that he's a non-exec, so fair play to him for making some handsome dosh. Perhaps it's more interesting that there were buyers for £430,000 of stock at these levels (i.e 296p).

[spud] 12/4/2012 16:16

Way too frothy above £3 imo. Fair value for this currently is between 250p - 300p.

Next year is another matter and i'd be looking at a high of between 450p and 500p depending on Market conditions.

I'm in for the long haul :-)

spud

[glyn10] 11/4/2012 18:34

seemingly along with the rest of my portfolio !

[spud] 11/4/2012 15:59

And away down she goes......... lol.

spud

[shanklin] 05/4/2012 17:46

How about Serco?

[spud] 05/4/2012 17:19

Hi Eddie.

I really haven't a clue tbh due, as you quite rightly point out, to the conflict of interest that would arise should it be bought by a theme park operator. However, if I recall correctly, Tom and I believe A.N Other on the Board, have previously been involved in grooming 1 or more companies for an eventual sale.

I just hope that enough value is injected into the Company before any suitor/predator starts sniffing around..

spud

[eddie catflap] 05/4/2012 16:58

Nice one spud.

I realise it's utter speculation but who would you see as a potential purchaser?

I'd rule out a theme park operator due to conflicts with other users. Since Lo-q was reclassified in the software sector that would be my best guess as to where an acquirer would reside.

Do you have anyone in mind as an example?

Regards

[spud] 04/4/2012 15:44

Eddie - Yes I guess that has something to do with it.

Having spoken to Tom on a few occasions, one cannot fail to be seduced by his unwavering self belief in himself, team and product, hence my own self belief in where this is going.

I'm also pretty sure that the end game will involve selling the Company for a pretty hefty premium to today's price.

yours

spudy McSpud from spudsville :-)

[eddie catflap] 04/4/2012 15:20

Excellent news spud. Really pleased for you.

I'm wondering whether your unstinting belief was partly because you didn't suffer
the 170p - 4p precipitous decline?

Although always believing in the product, I honestly could never see the market awarding a p/e of over 8 and made sales accordingly :-(

yours

ronnie wrongo, wrongsville in wrongshire.

Population: 1 (me)

[spud] 04/4/2012 14:06

Yup still have my 145,000 and have added on the way up from my initial purchase of 8k back in '06. They stand me @ circa 55p now and have no intention of selling sub £10 (providing it doesn't get taken out before).

spud

[eddie catflap] 04/4/2012 08:18

rivaldo, i did read your original post. It just proves how much doesn't sink in
as I had no initial recollection of having seen it. (Articles are not exactly the same btw, think the 'thisismoney' one is a shortened version.)

Selling on the way up will prove to be the worst investment decision I ever make (hopefully). I held only these in my portfolio so just had to diversify. Only a few '000 left now from more than 100,000.

Hope some of the earlybirds remain fully invested. (Glennborthwick declared his sales a while ago now.)

GLA

[rivaldo] 04/4/2012 07:39

Eddie catflap, that's interesting - the same article was originally published some days ago on Proactive as per my post 9209, so it's intriguing that it's got re-published on the Mail's web site. As you say, that should bring in quite a bit more interest. If this is a new arrangement, Proactive-backed companies might benefit quite nicely in future.

[bozzy_s] 03/4/2012 23:14

Good to see some of the old timers still in here. What an incredible story LOQ has been. When they start to pay dividends some of you guys must be in line for returns of 100%+ per year on your original investment. I first came across these at 5p. Wish I held!!!!!

Is Mr Hangman dissing any other potential blockbusters?

[spud] 03/4/2012 16:46

Thanks Eddie.

spud

[eddie catflap] 03/4/2012 16:38

I don't think this has been posted before. Decent exposure..

Linky: