Nice. It’s been a long wait. Good to have a future distributions plan outlined too. Wonder what proportion we will end up being able to shift with the offer.. |
A nice end, happy. Not even thinking of selling 1 share now.
There is value. Finsbury, Aph, Sqli |
Not a bad Christmas present! |
 24 December 2024
Logistics Development Group plc
("LDG", the "Company" or, together with its subsidiaries, the "Group")
Redemption of Nash Squared investment
Distribution Policy Update
The Board of Logistics Development Group plc, the AIM-quoted investing company, announces that on 23 December 2024 the Nash Squared group completed the disposal of its NashTech division.
As a result of the disposal, the £10 million investment by Fixtaia Limited, LDG's wholly owned subsidiary, for fixed rate unsecured Series A loan notes and payment in kind (PIK) notes issued by The Power of Talent Midco Limited has been redeemed, realising a cash distribution to the Group of c. £13.1 million and generating a net IRR of c. 36% over the holding period. No fees are payable by the Group on the realisation proceeds. Following receipt of the redemption funds, the Group's cash position is approximately £44 million.
The Board, together with its investment manager, has been reviewing the Company's distribution policy. Since becoming an investing company in December 2020, LDG has already distributed c. £27 million to shareholders, primarily through share buyback mechanisms.
The Board now plans a further distribution and is contemplating a tender offer to return up to £21 million to shareholders. it is proposed that the tender offer would be effected at a price of 19p per share. Any tender offer would be subject to, inter alia, shareholder approval.
In the future, the Board is planning to make additional distributions as investments are realised. These will be based on 50% of net cash profits realised from each asset sale, though timings will remain contingent on market conditions.
In addition, from December 2024, LDG intends to publish unaudited NAV estimates on a quarterly basis, with unaudited NAV estimates expected to be announced within two months of the relevant quarter end.
Further enquiries:
Logistics Development Group plc
Via FTI Consulting
FTI Consulting
+44 (0) 20 3727 1340
Nick Hasell / Alex Le May
Strand Hanson Limited
(Financial and Nominated Adviser)
James Dance / Richard Johnson / Abigail Wennington
+44 (0) 20 7409 3494
Investec Bank plc
(Broker)
Gary Clarence / Harry Hargreaves
+44 (0) 20 7597 5970 |
When I saw an RNS coming out at 3pm on Dec 24th I thought they might be dishing out some bad news.
Instead it's a xmas cracker. MCAP 54 million, cash now 44 million. |
Great announcement. £21m tender at 19p and a distribution policy |
Good afternoon zoolook. Thank you. I'll examine it over the weekend. It will give me something to do aside from the football! ALgent. |
>PS. Is anyone loooking at anything similar that they'd like to share?
Hi ALgent
Similarish is Volvere (VLE) which is my largest investment by far. The VLE board has acknowledged the undervaluation but is being slow in doing anything about it. They have done tender offers in the past. |
I feel the same, what they bought is value, aph has been a drag, but it looks like that ship is turning
What i miss is a follow up on the business of their investments . I do find it strange they havent touched Wynnstay,as they have bought a few years ago on the previous low of Wynnstay
Overal, jury is still out there. |
Morning all. News is thin but I'm not unhappy at all. I'm sorely tempted to buy a few more. I suspect these guys know exactly what they're about. I do get investments wrong now and then (yes, I know, it's hard to believe!) but this looks to be one where there's money to be made. Best of luck to all on board. ALgent.
PS. Is anyone loooking at anything similar that they'd like to share? |
sp should tick up soon given recent APH share price appreciation. SQLI acquisition should be completed by the end of the year and FF should release their results by year end too |
1 percent of the company just changed hands |
Kirmich we own 27.5percent of FF and 9.1 percent of SQLII fully expect our share of SQLI to increase following the tender offer. FF have to submit their accounts before the year end, so that will be the only time we can find out how they are trading. I don't think LDG will tell us.APH is a good company, so surprised they didn't make a move for the company when the share price fell to 25p.So far, all their trades have been profitable and it's only APH which is currently under water. |
lpavlou, they are undervalued compared to their assets, but with good reason. If you run a PE like fund (which I'm totally ok with) I had hoped they would provide insights into the progress of the underlying companies.
For now no info on Finsbury (their % stake and the progress of the business), no info on their stake in SQLI (do they participate or sell their shares in SQLI), no info on what they are planning with Alliance Pharma.
Have they invested in other companies, but maybe with lower % than they need to report. (fi in Wynnstay a lot of shares were sold some time ago and no new holder has reported)
What was the rationale to buy (and then immediately sell) trifast and the mission group?
I don't mind there is only 2 times a year info on the companies they invested in, but I would welcome a nice overview at that time.
For now I'm ok with my position and I'm ok with the companies they invested in, but not ok with the reporting. Hopefully this will change in the future. |
APH having a decent run which reduces current LDG losses on its stake. I think they are at 56p break even. |
Looks like Dbay have started the tender process for the remaining shares in SQLI. Unfortunately the docs are all in French, so can't make any sense of them |
I'm surprised so many shareholders voted with Dbay. Let's see what the Board actions from this vote if anything. |
If you exclude the DBay concert pty votes it’s more like 80-20 against the board. |
62% Against - not overwhelming support for the Board. |
Curious about the outcome, not attending.
Alliance pharma’s steady rise is enhancing the discount to Nav of LDG. |
Is anyone attending the GM this morning? |
BE interesting to see how the vote goes on Wednesday and whether the company adopts a different tact if all the majority other shareholders vote against them |
I can't see it passing but I voted for it too. The board need to start feeling some more pressure. |
New resolution came through today from IG and this time with the correct Board recommendation. It's now just the board appointment resolution only. I still voted for it, |
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