Lok'n Store Share Discussion Threads

[anley] 03/8/2017 17:19

Sorry my paper has been thrown away and the answer to Post 1371 is the broker makes the statement and if thought to be a lie then they could open the dealing books......

[coolen] 02/8/2017 22:15

26 April @ 425p: "This sale was undertaken to satisfy demand for the Company's shares".

Is any evidence required in such circumstances ?

[3800] 02/8/2017 19:48

could you give a link to the telegraph article anley?

[anley] 02/8/2017 17:08

In the meantime the shares have fallen away to 384p and even a mention today in the Daily Telegraph has not helped.................

[anley] 28/4/2017 13:40

Those institutions would not have paid 425p unless they were certain that the broker had the right information for them to make a BIG turn............the price prediction of £5+ therefore stands.............

We shall wait and see.

[jurgenklopp] 27/4/2017 11:26

Anley

I would agree with you.

Lok'nStore, the fast growing self-storage Company, is pleased to announce that on 26 April 2017 it sold 491,869 ordinary shares of 1 penny each in the Company ("Ordinary Shares") held in treasury. At the same time, 255,000 Ordinary Shares were sold on behalf of certain directors of the Company (the "Directors"), as detailed below.

This sale was undertaken to satisfy demand for the Company's shares, and to improve liquidity going forward. The Ordinary Shares were sold to a range of institutional investors at a price of 425 pence per Ordinary Share.

Included in the shares sold by the Directors were 25,000 Ordinary Shares sold by Ray Davies, and 50,000 Ordinary Shares sold by Simon Thomas following exercises by them on 26 April 2017 of options held by them over the same number of shares under the terms of the Company's unapproved share option plan. The options were exercised at 213.50p in the case of Ray Davies and 136.00p in the case of Simon Thomas.

[anley] 27/4/2017 11:13

425p may be a bottom as this is the price shares have just been sold by 3 directors as well as exercising stock options and selling those in to the market.

I shall watch and may buy in if they fall under 425p.

[anley] 25/4/2017 10:28

I see the TIMES this morning are giving the stock a small push...............and one broker is saying that he looking for 510p........

[pulsey] 24/4/2017 23:55

Disappointed by the lukewarm reception to another good set of figures, especially considering the wider market was powering ahead today. Still, it had a good run-up prior to the results, so can't be too unhappy.

[jurgenklopp] 24/4/2017 07:50

Lok'nStore Group Plc, the fast growing self-storage company announces interim results for the six months to 31 January 2017



"Strong balance sheet funds growth strategy and pipeline of 8 new landmark stores"



Highlights:



Strong trading and cash flow

· Revenue £8.34 million up 4.5% (31.1.2016: £7.99 million)

· Group Adjusted EBITDA1 £3.31million up 0.5% (31.1.2016: £3.30 million)

· Adjusted pre-tax profit2 £2.1 million up 13.5%

· Adjusted net profit2 £1.9 million up 81.2%



Cash flow growth supports 12.4% dividend increase - progressive dividend policy

· Cash available for Distribution (CAD) 3 £2.62 million up 6.5% (31.1.2016: £2.46 million)

· Interim dividend 3 pence per share up 12.4% (31.1.2016: 2.67 pence per share)



Significant growth in asset value,

· Adjusted Net Asset Value (NAV) per share4 up 26.1% to £3.87 (31.1.2016: £3.07)

· Total assets up to £142.65 million (31.1.2016: £113.4 million)



Strong balance sheet, efficient use of capital, low debt

· Sale of 1.975 million Treasury shares raising circa £8 million at 400 pence per share (purchase cost 150.3 pence), a premium to NAV4

· Net debt £16.7 million down 35.3% (31.1.2016: £25.8 million)

· Loan to value ratio down to 14.4%6 (31.1.2016: 26.2%)

· Extension of existing bank facility by 2 years until January 2023

· Effective cost of debt 1.65%

· Rolling 12 month EBITDA 16.2 times net interest



Consistent performance in the self-storage business

· Core self-storage revenue £7.0 million up 3.9% (31.1.2016: £6.74 million)

· Adjusted Store EBITDA £3.857million up 0.1% (31.1.2016: £3.84 million)

· Occupied units pricing up 1.0% LFL8

· Unit Occupancy up 4.6% LFL8



Healthy pipeline of new landmark stores - 8 stores in pipeline

· 4 new stores to open in 2017 in Wellingborough, Gillingham, Hemel Hempstead and Broadstairs

· Plus 4 further new sites identified

· Current pipeline adds 30% of extra trading space to the overall portfolio, 18% to our owned portfolio and 70% to the managed portfolio

· Following successful completion of Managed Store pipeline will have 10 stores under management .



Confident Outlook

· The Group is well positioned for future growth





Commenting on the Group's results, Andrew Jacobs CEO of Lok'nStore Group said,



"With strong trading Lok'nStore's profits continue to grow, as interest costs and taxation also come down. We are investing in the future growth of the business building more new landmark stores. Our low debt allows this rapid development programme to be financed from cash flow and existing bank facilities, while progressively increasing the dividend.



"Our new store development programme continues to change the balance of our stores with new and purpose built stores accounting for 64% of the portfolio. The three new stores we opened in 2016 are all trading well and the 4 sites acquired last year for new stores will open in 2017 increasing space by a further 18% and adding impetus to sales and earnings growth.



"Our objective is to open more landmark self-storage centres while remaining conservatively leveraged to deliver robust, predictable growing cash flow and dividends from an expanding asset base."

[anley] 20/4/2017 13:55

New stores will be up and running before the end of December 2017 and 3% (my guess) general up lift in sales at all the other stores.

How aboth £5 per share next Monday...............

[mw8156] 19/4/2017 10:25

would have thought a period of dull like-for-likes is probable since they have opened/are opening a lot of new stores which take time to become occupied?

[anley] 18/4/2017 11:34

and so am I and thanks for reminding me that next Monday is results day.

[pulsey] 18/4/2017 11:23

Results are out next Monday - don't think they will disappoint.

Well run Company, steady rollout of new sites and still concentrated in the South with plenty of Northwards expansion potential. Personally, I still believe that they are a way in for a US Corporation to gain a foothold in the UK. The US are much more into self storage.

"I thought I would look at this BB only to find that the last post was December 2016!!" - sometimes the quieter boards are those of the better quality Companies, deserted by those out for a quick buck!

V. happy with my shareholding, anyway.

[anley] 11/4/2017 11:27

I thought I would look at this BB only to find that the last post was December 2016!!

The business has kept moving and perhaps spring is going to bring forth some good news and a price rise back to the highs...........we shall have to wait and see.

[mw8156] 22/12/2016 23:15

every man and dog tips this to be taken over
will it be a Smith and Nephew always on the brink of being taken over and never happens?

[pulsey] 02/11/2016 14:33

These things don't happen instantly. I've no idea how it works, but we could assume that the process was kicked off a while back when the share price was lower. They would have had to fix a price at some point and committed to it. It's only been above £4 for a week or so.

I'm sure that he didn't wake up yesterday and think. "Time to release some shares".
Don't forget that he is a Private investor too, so has a double interest in achieving the best price.

Wish he'd given me first dibs, though.

[sphere25] 02/11/2016 10:28

Disgraceful behaviour by Andrew Jacobs.

Giving stock away cheap to the institutional fund manglers at the expense of private investors.

460--->400

Really?

Hang your head in shame Jacobs!

[davr0s] 02/11/2016 08:11

That's me out for the time being. Looks like the rise was contrived to get this away. Might consider rebuying if we dip back under 400

[typo56] 02/11/2016 07:29

Well, I never thought of treasury shares. It's effectively a fund raising to reduce debt. (Presumably the treasury shares came about from previous share buybacks). I don't like it. If they'd been that much demand, why a 60p discount to market price?

[davr0s] 02/11/2016 07:22

Yes well spotted. Was that really the best price they could get. I'd have had some at £4 if they were on offer. So a 15% instant profit at last nights close that did - good business if you can get it. Question now is that going to suppress the price or will the market like it that a big debt chunk has been paid

[coolen] 01/11/2016 23:06

Yes. (Probably). Good analysis there Typo.

[typo56] 01/11/2016 22:23

Or 7.4% of the company got placed. Probably an RNS tomorrow. Not many people hold that much. Andrew Jacobs (CEO), Simon Thomas (Chair) and Miton Group. Perhaps Miton?

[davr0s] 01/11/2016 19:28

So that was circa 15% of the total number of shares reported today. Presumably that was the catalyst behind the recent rise

[davr0s] 01/11/2016 16:45

What the hell is going on here. Massive volume of 400p trades - which I hope were delayed from 2 weeks ago as that's 20% south of where we are now. Either big buyer then or seller cleared. Price didn't seem to budge today so think it's all good