Logistics Development Share Discussion Threads

[p1nder] 20/11/2006 11:22

is it worth pluggin in now?

[Abuse team] 15/11/2006 10:41

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[Abuse team] 15/11/2006 09:08

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[Abuse team] 04/11/2006 17:42

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[Abuse team] 04/10/2006 20:05

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[Abuse team] 04/10/2006 14:22

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[Abuse team] 04/10/2006 13:17

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[Abuse team] 04/10/2006 12:43

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[Abuse team] 04/10/2006 11:58

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[Abuse team] 04/10/2006 11:38

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[meerzaf] 03/10/2006 15:42

this is tanking. Whats going on here?

[meerzaf] 27/9/2006 21:41

Apparently this has been tipped in tomorrows IC so we should expect to see some positive price movement

[moggey1970] 21/8/2006 15:10

I bought ldg from pc and in profit also bought paro whos results are out in sep so we shall see how they do.

[nickthomson01] 03/8/2006 11:17

Decent Crit in this weeks Shares magazine about Legacy. Mentions increasing market share, acquisitions and improved logistics. Should boost gross margins from 5.5% to high single digit range, although costs are an issue esp. fuel but plans to tackle with diesel truck leasing arrangements

[tel6] 23/6/2006 12:16

Is anyone aware of the reason for the recent increase in the price?

[rossstar3] 27/4/2006 23:13

pxx will happily buy stock and then stab u in the back next time.dyor

[dave-w] 27/4/2006 22:54

Thanks, Crosstalk. Good analysis. I'm staying well clear.
Just one point on NAV. The $1.54m placing was pre-float. I haven't seen the admission document but do we know how many shares (or what shares) were floated at 12p? Might that not have raised a sigificant sum? But if they were issued shares, the money wouldn't have gone to company, of course and your analysis still holds true.
Puzzled.

[crosstalk] 24/4/2006 23:47

To dave-w, mr_chaps and anyone else who's interested.

Pacific Continental Securities (PCS) are simply not telling the truth (see post 25).

dave-w reports " The broker said "they have always been Legacy but private up to now"! ".
No they haven't. An extract from the auditors report on page 21 of the "Admission to trading on AIM" document in relation to Legacy Distribution Group Inc reads:

"2.2 Income statement
The Company has not traded since its incorporation on 25 January 2006 other than in relation to the arrangements for the admission of the Company's shares to trading on AIM, hence no income statement has been presented."

On the same page the Balance sheet statement as at 31 January 2006 shows NIL for:
Cash at bank, Total assets, Total Shareholders' equity.

The company previously traded under the names Best Candy & Tobacco Co. (up to 31/7/2004) and Best Holdings Acquisition Company, LLC (from 1/8/2004). My post number 8 includes some internet references to these companies.

The auditors reports for these companies are included in the AIM Admission document.


dave-w reports "He [PCS salesman] also professed to know nothing about the pre-float share issue" and "They [PCS] met the [Legacy] management immediately pre-float and apparently acquired their shares directly". The PCS salesman is being inconsistent (that's my kindest interpretation!).


Total profits for the 3.5 years from 1 Jan 2002 to 30 June 2005 = $833,026. In total it is nowhere near PCS's figure of $1.3m. The individual figures come from the AIM Admission document. There are no other published figures. No RNS update has been issued.


As at 30/6/2005 Total members' equity (assets less liabilities) = $1,038,018 and that includes $1,502,378 of goodwill! There were effectively 39,061,269 shares in issue then.
NAV = 2.66c/share or about 1.5p/share.

There are now 73,446,328 shares in issue. If PCS are suggesting a NAV of 13p/share the implied net assets = £9.5m or $16.7m (at $1.75/£). How on earth has net assets gone up by $15m since 30 June 2005? The share placing only raised $1.54m. Elsewhere the Admission document says Elite paid $2m for a 12% stake (page 64) but page 53 says Elite holds 3%. It is still a long way short.

Pacific Continental seem to be living in Wonderland.

Ask Corporate Synergy for a copy of the "Admission to trading on AIM" document and read it then ask PCS for the source and a justification for their information.