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LDG Logistics Development Group Plc

0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Logistics Development Group Plc LSE:LDG London Ordinary Share GB00BD8QVC95 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 11.15 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
10.80 11.50 11.15 11.15 11.15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Management Consulting Svcs 2.17M 1.15M 0.0021 53.10 60.6M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 11.15 GBX

Logistics Development (LDG) Latest News (1)

Logistics Development (LDG) Discussions and Chat

Logistics Development Forums and Chat

Date Time Title Posts
18/4/202419:56Legacy Distribution::::: Candy Truckers738
27/10/202311:15Logistics Development Group2

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Logistics Development (LDG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-18 15:53:3911.20275,00030,804.65O
2024-04-18 15:37:5711.1025,0002,773.88O
2024-04-18 15:05:3911.1036,1444,011.98O
2024-04-18 14:36:5411.1574,0368,255.01O
2024-04-18 14:24:2511.1094,22610,454.85O

Logistics Development (LDG) Top Chat Posts

Top Posts
Posted at 19/4/2024 09:20 by Logistics Development Daily Update
Logistics Development Group Plc is listed in the Management Consulting Svcs sector of the London Stock Exchange with ticker LDG. The last closing price for Logistics Development was 11.15p.
Logistics Development currently has 543,510,036 shares in issue. The market capitalisation of Logistics Development is £60,601,369.
Logistics Development has a price to earnings ratio (PE ratio) of 53.10.
This morning LDG shares opened at 11.15p
Posted at 03/4/2024 19:51 by lpavlou
Why would Dbay do that? They would then have to borrow money to fund their investments. This way they have their own ATM. I still think they are trying to get th e Esken shares on the cheap which will benefit all of us. I'll be topping up tomorrow as weee getting close to a 50percent discount to NAV with nearly 7p per share in cash
Posted at 03/4/2024 13:18 by tyranosaurus
What a waste of time this share is.
Price still going down in spite of buybacks.
They should liquidate all investments asap and give us the money.
Posted at 27/3/2024 18:51 by baddeal
Well so far they've proved to be pretty poor investors merely taking fees for loosing shareholder money.I suspect things won't change too quickly given what we've seen. Aph holds the key to share price recovery. Losing c30% of the investment cost shows how poor the insight has been imo.
Posted at 22/3/2024 20:31 by lpavlou
With Esken now in admin, the administrators are more likely to seek to dispose of their LDG stake to cover their fees. We need to buy them back as cheaply as we can, to increase NAV
Posted at 02/2/2024 06:18 by kirmich
Upped the daily purchases to 180.000, almost 31 million shares repurchased by now. Reassuring trading update by Alliance Pharma, but not reflected in the share price of Alliance.
Waiting game and will be buying in the 11's as well.
Posted at 27/10/2023 10:04 by spob
2023 Bargain Share Portfolio constituent 10/Feb/2023 (peak offer 16.4p)

This investment fund's NAV is holding up yet the share price is taking an unwarranted hit

October 23, 2023
by Simon Thompson

Proforma cash of £44.4mn (8.3p) in price for free
Four listed holdings worth £59.1mn (11p)
Finsbury Foods in a takeover situation
41 per cent share price discount to NAV

Investor risk aversion is so extreme right now that there have been some disproportionate de-ratings of quality companies in the small and micro-cap hunting ground.

For instance, the share price of Logistics Development Group (LDG:11.4p), an investment company managed by asset management firm DBay and one of my 2023 Bargain Share Portfolio constituents, has fallen 18 per cent since I reiterated my buy call, at 13.9p, at the recent interim results (‘Exploit this double-discounted small-cap fund’, 7 September 2023).

I estimate that LDG has net cash of £44.4mn (8.3p) after factoring in £0.8mn spent on net asset value (NAV) per share accretive share buy-backs since last month’s article as well as the purchase of a further £4.8mn of shares in Finsbury Foods (FIF) (pictured). The speciality bakery manufacturer of cake, bread and morning goods is in the process of being acquired for £143mn by funds managed by Dbay.

LDG now holds a 12.5 per cent stake in Finsbury worth £17.8mn (3.3p), or 29 per cent above cost. It’s not as if Dbay is overpaying. The offer is pitched on a price-to-book value of 1.13 times and values Finsbury on an enterprise valuation of £165mn. It equates to 5.2 times cash profit and 8.3 times operating profit reported in the financial year to 1 July 2023, low multiples for a business that has just reported double-digit annual profit growth and is forecast to continue growing.

LDG also holds three other listed investments: 10.5 per cent stake valued at £21.2mn (4p) in Alliance Pharma (APH), a distributor of consumer healthcare and pharmaceutical products; 9.5 per cent holding worth £17.2mn (3.2p) in SQLI S.A. (FR:SQI), a leading pan-European digital transformation business; and a 2.8 per cent stake in Trifast (TRI), an international distributor of industrial fasteners, that has an open market value of £2.9mn (0.5p).

Portfolio companies, Sector and description, Group interest, Consideration paid, Fair value of stake, Fair value per LDG share.

Finsbury Foods Food and cake maker 12.4 per cent equity stake £13.8mn £17.8mn 3.3p

Alliance Pharma Distributor of healthcare and pharmaceutical products 10.5 per cent equity stake £33.4mn £21.2mn 4.0p

Synsion Pan-European digital transformation business 9.5 per cent read through equity stake in SQLI S.A. (FR:SQI) €15mn (£12.8mn) £17.2mn 3.2p

Trifast International distributor of industrial fasteners 2.8 per cent equity stake £2.7mn £2.9mn 0.5p

Total holdings £62.7mn £59.1mn 11.0p

Proforma cash £44.4mn 8.3p

Spot NAV estimate £103.5mn 19.3p

Source: LDG interim results at 31 May 2023 and subsequent London Stock Exchange RNS filings. Latest share prices for portfolio companies correct on 23 October 2023.

Strip out the group’s proforma net cash of £44.4mn (8.3p) from its market capitalisation of £61.1mn (11.4p), and the four listed holdings are in the price for £16.7mn, or 71 per cent less than their latest market valuations of £59.1mn (11p).

Frankly, that’s absurd given that LDG’s NAV per share has only declined 4 per cent from 20.1p to 19.3p since the start of last month, so the portfolio is hardly taking a beating, unlike LDG’s share price. Moreover, the latest valuation of the four holdings is only slightly below the £62.7mn cost.

Or put it another way, the four holdings back up almost all of LDG’s share price of 11.4p, so you are getting nearly all the 8.3p a share cash pile thrown in for free.
Posted at 23/10/2023 16:42 by value hound
Re-tipped by Simon Thompson under the heading "This stock's cash is worth more than the share price."

He concludes with...

"Or put it another way, the four holdings back up almost all of LDG’s share price of 11.4p, so you are getting nearly all the 8.3p a share cash pile thrown in for free. Buy."
Posted at 22/9/2023 13:30 by stemis
All this deal does, if it wasn't already clear, is demonstrate the LDG is a captive of DBay. They've swapped listed, easily valued, easily saleable shares in a transparent capital structure for unlisted, non-transferrable, difficult to value shares in an opaque capital structure.

LDG are to receive 11,763,979 Bidco A Shares. How many total A shares are there? How many non voting B shares? How much debt will Bidco carry?

It may well turn out to be a good deal, but at the moment it's easy to see why LDG shares are where they are.
Posted at 18/7/2023 22:55 by lpavlou
Need to be patient. The share price was in high 12s when they announced the buyback. They have learnt from the last buyback that it's better to take your time and do it over a longer period rather than rush in as when it's finished the share price just drops back. I'm expecting Dbay to make an acquisition soon in one of its investments, which LDG will participate in.
Posted at 23/2/2023 17:15 by value hound
Update from Simon Thompson:-

LDG’s buy-back programme is a sensible move

-Board asking for authority to buy back up to 20 per cent of the shares in issue
-Net cash equates to 92 per cent of market capitalisation
-£35.4mn value of three listed investments in the price for only £7.5mn

Investment company Logistics Development Group (LDG: 15.85p) will ask shareholders at a general meeting on 6 March 2023 to approve a net asset value (NAV) per share accretive buy-back programme of up to 20 per cent of the 561.8mn shares in issue, but is limiting the buy-back to £15mn.

It makes sense to do so given that LDG has net cash of £81.5mn (14.5p), a sum equating to 92 per cent of its market capitalisation of £89mn, which means that shareholdings in Finsbury Foods (FIF), Alliance Pharma (APH), and a see-through 11.1 per cent stake in SQLI S.A. (FR:SQI), a leading pan-European digital transformation business, are in the price for £7.5mn, or 79 per cent less than their combined valuations of £35.4mn (6.3p). That’s harsh given that DBay, the group’s investment manager and shareholder, is making some astute calls, as I highlighted in my recent analysis.

Furthermore, if the board spends £15mn repurchasing 94mn shares at the current offer price, of 16p, then it would add 1p a share to spot NAV of 20.8p, thus creating value for LDG’s remaining shareholders as well as providing support for the share price. LDG’s share price is up 8.5 per cent on my entry level in this year's portfolio and I expect the 24 per cent share price discount to NAV to continue to narrow. Buy.
Logistics Development share price data is direct from the London Stock Exchange

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