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| 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% | 11.375 | 0.00 | 07:35:37 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 11.25 | 11.50 | 11.375 | 11.375 | 11.375 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Management Consulting Svcs | -9.54M | -10.12M | -0.0193 | -5.89 | 59.64M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 11.375 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 16/10/2024 | 12:41 | UK RNS | Logistics Development Group PLC Result of Requisitioned General Meeting |
| 23/9/2024 | 06:00 | UK RNS | Logistics Development Group PLC Circular Publication, Notice of.. |
| 04/9/2024 | 18:40 | ALNC |  IN BRIEF: Logistics Development requested to convene general meeting |
| 04/9/2024 | 14:29 | UK RNS | Logistics Development Group PLC Results of General Meeting |
| 04/9/2024 | 06:00 | UK RNS | Logistics Development Group PLC General Meeting Requisition Notice |
| 23/8/2024 | 13:32 | ALNC | IN BRIEF: Logistics Development swings to profit on investment gain |
| 23/8/2024 | 06:00 | UK RNS | Logistics Development Group PLC Interim Results for six months ended 31 May.. |
| 13/8/2024 | 06:00 | UK RNS | Logistics Development Group PLC Circular, Rule 9 Waiver & Notice of GM |
| 05/8/2024 | 10:56 | UK RNS | Logistics Development Group PLC Holding(s) in Company |
| 11/7/2024 | 10:02 | UK RNS | Mission Group PLC (The) Holding(s) in Company |
Logistics Development (LDG) Share Charts1 Year Logistics Development Chart |
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1 Month Logistics Development Chart |
Intraday Logistics Development Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 14/11/2024 | 15:24 | Legacy Distribution::::: Candy Truckers | 850 |
| 20/9/2024 | 19:05 | Logistics Development Group | 6 |
| 08/5/2024 | 14:51 | LDG | 10 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-11-20 16:26:59 | 11.25 | 500,000 | 56,250.00 | O |
| 2024-11-20 15:18:27 | 11.25 | 8,064 | 907.20 | O |
| 2024-11-20 15:12:18 | 11.00 | 44,000 | 4,840.00 | O |
| 2024-11-20 12:22:15 | 11.26 | 1,087 | 122.34 | O |
| 2024-11-20 12:07:42 | 11.26 | 1,000 | 112.55 | O |
| Top Posts |
|---|
Posted at 21/11/2024 08:20 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 11.38p.Logistics Development currently has 524,350,394 shares in issue. The market capitalisation of Logistics Development is £59,618,640. Logistics Development has a price to earnings ratio (PE ratio) of -5.89. This morning LDG shares opened at 11.38p |
Posted at 11/11/2024 21:34 by lpavlou 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. |
Posted at 11/11/2024 10:57 by lpavlou APH having a decent run which reduces current LDG losses on its stake. I think they are at 56p break even. |
Posted at 24/9/2024 06:20 by kirmich For me the play here by mr Griffiths is to show that not everything goes. And I think we as small shareholders will profit from that.The problem I see for instance that we have had a half year report, yet we don't know what vision they have with Alliance Pharma or how Finsbury food is faring? The problem is that SQLI is being taken over, yet we haven't seen a RNS stating what the intention of our company LDG is. Are we part of that takeover? Do we surrender our shares to Dbay? SQLI which is a big chunk of LDG holdings. I'm happy to tag along, as I do think they will make us money in the future on what they bought, but I'm happy there now is a sheriff in town who shows he is watching with a block of shares not far off DBAY's stake (as we have to believe the 6% is actually working together with the 15% of mr Griffiths declared holdings) For the first time in my investment lifetime I will go to the trouble of voting and I will vote yes. I'don't think it will pass, but I do think it will show a statement. or not :) |
Posted at 20/9/2024 19:04 by spob Wind-down request could narrow this stock's discountThe cash-rich investment company trades on a 38 per cent discount to NAV and has received a request for an orderly wind-down to return cash to shareholders - Shareholder calls for wind-down of company - NAV of £99mn (18.9p) - 38 per cent discount to NAV Logistics Development Group (LDG:11.75p) has received a requisition notice to convene a meeting to vote on an orderly wind-down of the Aim-traded investment company. Huntress (CI) Nominees, a Jersey-registered investment vehicle which holds 6.86 per cent of the shares, wants the investment manager, DBay, to cease making new investments and prioritise the timely return of capital to shareholders. In results for the six-month period to 31 May 2024, the debt-free company held cash of £32mn (6.1p) and an investment portfolio worth £66.7mn (12.7p). Since the accounting date, LDG has invested £2.4mn to raise its stake from 11.9 to 13.2 per cent in Alliance Pharma (APH: 35.4p), a distributor of consumer healthcare and pharmaceutical products. The holding is worth £25.2mn (4.8p). In addition, LDG has realised £1.65mn and banked a £0.6mn profit from the sale of its stake in Mission Group (TMG :24p), a UK advertising and marketing specialist. It means that LDG’s current cash pile, which is placed on deposit with Investec at an interest rate of 3.75 per cent, is around £31.5mn (6p), or half its market capitalisation of £61.6mn. Other notable listed investments include a 9.1 per cent stake in SQLI (FR:SQI), a leading pan-European digital transformation business, which has a current value of €17.1mn (£14.4mn, or 2.7p). LDG also holds two non-listed investments: a 27.5 per cent stake worth £17.8mn (3.4p) in Finsbury Foods, a bakery manufacturer that was acquired last year for £143mn by funds managed by DBay; and a £10mn (1.9p) high interest payment in kind (PIK) fixed-rate unsecured loan note issued to The Power of Talent Midco, a special purpose vehicle that owns the operating companies of unlisted Nash Squared Group, a recruitment and consultancy group. Deep share price discount to book value As has been the case since I included LDG in my 2023 Bargain Shares Portfolio, the shares are in deep value territory as highlighted by NAV being 60 per cent higher than the company’s market capitalisation. This has not gone completely unnoticed as Richard Griffiths, the founder of investment bank Evolution and boutique finance house ORA Capital, has been stake-building. Known in the City of London as the 'Welsh Wizard' due to his stockpicking ability, the Jersey-based investor raised his holding in LDG from 10.9 to 15.3 per cent at the end of May (‘Welsh wizard' sees value in this stock – and so do we’, 28 May 2024). The board is cognisant of the fact that LDG’s share price fails to reflect the value of the company’s assets, so requested and were granted authority to repurchase up to 15 per cent of the 524mn shares in a buyback programme that should enhance net asset value (NAV) per share. However, a concert party owns a 34 per cent stake, and the resolution for a Takeover Panel waiver failed to receive enough backing, so the buyback cannot proceed. In its absence, an orderly wind-down of the company would undoubtedly narrow the 38 per cent share price discount to NAV in double-quick time. The board is now considering Huntress’ request and is advising shareholders to take no action at this stage. However, I can now see the activist’s resolutions garnering support from other shareholders. Buy. |
Posted at 20/9/2024 18:41 by lpavlou It's Dbay doing the acquiringSQLI, a European group dedicated to digital services, announces that DBAY Advisors, its reference shareholder since 2019, has announced its intention to acquire all the SQLI shares not held by the Offeror at a price of 54.00 per share in the context of a public offer followed by a possible squeeze-out.In order to achieve this, Synsion BidCo (the "Offeror"), a company indirectly controlled by DBAY Advisors, which holds 83.5% of SQLI's share capital and 80.9% of the theoretical voting rights, has today filed with the AMF a simplified public tender offer (the "Offer") for all the shares of SQLI not held by the Offeror.CAPITAL CONTROLLED AT OVER 83% AND A STOCK MARKET LISTING THAT IS NO LONGER JUSTIFIEDThis Offer is based on the observation that the operational functioning of the Company in the event of delisting would be simplified in view of the provisions to which companies whose shares are admitted to trading on a regulated market are subject. Furthermore, given the current shareholder structure and the low trading volume of SQLI shares, listing is of limited benefit to SQLI. In this regard, the average daily trading volume in SQLI shares declined by 39% between 2023 and 2024 [1].The Offeror therefore believes that the Offer presents a liquidity opportunity for SQLI's shareholders. The Offeror has also indicated that, if the results of the Offer so permit, it intends to implement a squeeze-out on the Company's shares.The terms of the Offer are more fully described in the draft offer document available on SQLI's website and on the AMF website (www.amf-france.org) |
Posted at 05/9/2024 18:31 by horndean eagle I didn't proffer an opinion on whether buybacks made sense or not. My point was they had authority to buy a lot of stock and brought diddly squat. They were insincere about it. Nothing to say it would have been any different this time around. The share price collapsed when they stopped the buyback. Investors thinking DBAY were running it just for their own interests. |
Posted at 05/9/2024 16:03 by value hound Re-tipped by Simon Thompson:Wind-down request could narrow this stock's discount The cash-rich investment company trades on a 38 per cent discount to NAV and has received a request for an orderly wind-down to return cash to shareholders - Shareholder calls for wind-down of company - NAV of £99mn (18.9p) - 38 per cent discount to NAV Logistics Development Group (LDG:11.75p) has received a requisition notice to convene a meeting to vote on an orderly wind-down of the Aim-traded investment company. Huntress (CI) Nominees, a Jersey-registered investment vehicle which holds 6.86 per cent of the shares, wants the investment manager, DBay, to cease making new investments and prioritise the timely return of capital to shareholders. In results for the six-month period to 31 May 2024, the debt-free company held cash of £32mn (6.1p) and an investment portfolio worth £66.7mn (12.7p). Since the accounting date, LDG has invested £2.4mn to raise its stake from 11.9 to 13.2 per cent in Alliance Pharma (APH: 35.4p), a distributor of consumer healthcare and pharmaceutical products. The holding is worth £25.2mn (4.8p). In addition, LDG has realised £1.65mn and banked a £0.6mn profit from the sale of its stake in Mission Group (TMG :24p), a UK advertising and marketing specialist. It means that LDG’s current cash pile, which is placed on deposit with Investec at an interest rate of 3.75 per cent, is around £31.5mn (6p), or half its market capitalisation of £61.6mn. Other notable listed investments include a 9.1 per cent stake in SQLI (FR:SQI), a leading pan-European digital transformation business, which has a current value of €17.1mn (£14.4mn, or 2.7p). LDG also holds two non-listed investments: a 27.5 per cent stake worth £17.8mn (3.4p) in Finsbury Foods, a bakery manufacturer that was acquired last year for £143mn by funds managed by DBay; and a £10mn (1.9p) high interest payment in kind (PIK) fixed-rate unsecured loan note issued to The Power of Talent Midco, a special purpose vehicle that owns the operating companies of unlisted Nash Squared Group, a recruitment and consultancy group. Deep share price discount to book value As has been the case since I included LDG in my 2023 Bargain Shares Portfolio, the shares are in deep value territory as highlighted by NAV being 60 per cent higher than the company’s market capitalisation. This has not gone completely unnoticed as Richard Griffiths, the founder of investment bank Evolution and boutique finance house ORA Capital, has been stake-building. Known in the City of London as the 'Welsh Wizard' due to his stockpicking ability, the Jersey-based investor raised his holding in LDG from 10.9 to 15.3 per cent at the end of May (‘Welsh wizard' sees value in this stock – and so do we’, 28 May 2024). The board is cognisant of the fact that LDG’s share price fails to reflect the value of the company’s assets, so requested and were granted authority to repurchase up to 15 per cent of the 524mn shares in a buyback programme that should enhance net asset value (NAV) per share. However, a concert party owns a 34 per cent stake, and the resolution for a Takeover Panel waiver failed to receive enough backing, so the buyback cannot proceed. In its absence, an orderly wind-down of the company would undoubtedly narrow the 38 per cent share price discount to NAV in double-quick time. The board is now considering Huntress’ request and is advising shareholders to take no action at this stage. However, I can now see the activist’s resolutions garnering support from other shareholders. Buy. |
Posted at 05/9/2024 12:11 by lpavlou This smells very fishy. Can't recall a buyback ever being rejected by shareholders.Why would shareholders vote for the first resolution and then vote against the second, when it's obvious they are both linked. The only sensible conclusion is they want Dbay to take out LDG. But why would they when they in essence control the company. It would appear the Cyrus bought their stake off others as Esken are still the second largest shareholder with 64m shares. They with Krigg would have 99m shares, which might account for the rejection of the second vote. Dbay and LDG investments are too intwined to force them to cash out. |
Posted at 27/10/2023 09:04 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 23/2/2023 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. |
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