Lok'n Store Share Discussion Threads

[wan] 20/11/2006 08:22

Now 'if' LOK can start to replicate even part of BYG's performance, we still have quite some way to go. I will stress again that from January 2007, with the introduction of REIT's, makes for a very interesting period, 'if' we are allowed to get there.

[wan] 20/11/2006 08:05

Critical mass and arguably a nice addition to the NAV.

[wan] 20/11/2006 07:13

Audley European Opportunities Master Fund is at least one of the 'new' holdings that are continuing to pick up stock.

Expansion confirmed -


I believe LOK are on the threshold of critical mass, hence the interest. Fwiw I still don't think the recent string of RNS announcements is finished.

[kievtrader] 17/11/2006 16:41

bid higer at 197p. getting ready for push through 200p and nearly 170,000 traded with one cross of 150,000. Looking very good. KT

[kievtrader] 16/11/2006 18:10

200p offer. got it sooner than I thought. No resistance until the 226p level. So clear blue sky for the stock over the next week or two to push higher by 10%. We should see 250p/280p very soon when bid talks materialise. It is only a question of a little time. KT

[wan] 16/11/2006 07:15

Concurs with my previous posts and worth a read -

Reits to unleash wave of property mergers
By Jim Pickard, Property Correspondent

Published: November 14 2006 20:59 | Last updated: November 14 2006 20:59

The surprise purchase of London Merchant Securities by Derwent Valley could be the precursor to a wave of mergers in the real estate sector, analysts say.

The long-awaited trigger for this activity is the arrival of Reits (real estate investment trusts) in the UK in January.

Full story -

[moscowtrader] 15/11/2006 22:24

Bid talks have got to be round the corner at 250/300p take out price at at minimum.

Going higher/ KT

[wan] 15/11/2006 08:04

I did not think it would take long to get back to this level ie above what recent institutional buyers were paying, in other words they saw upside above the price they paid, and they (or others) might not have finished yet, interesting times.

[wan] 14/11/2006 10:59

Hi guy's, thanks for the comments, it is nice to know there are at least a few more of us here.

I think this is shaping up to be worth, at the very least, holding your stock very tightly. The price appears to have been inching up in an attempt to tease out some more stock from a arguably limited pool, perhaps ahead of any more announcements/more detail?. Without me revisiting the trades data, there still appears to be quite a large percentage of stock (from memory some 4-5m shares ie 20% of the issued shares) that has not been covered by an RNS, so surely those announcements are imminent? Unless they have gone into/been split into holdings of less than 3%? Time will tell.

Regards, wan

[kievtrader] 14/11/2006 04:32

Talk on the steet is that Safestore is considering coming to the market next yaear and that Merrill Lynch have been appointed as asvisors for this. They will certainly be looking at LOK as an aquisition target as part of their strategic option.

KT

[vassily] 13/11/2006 13:23

You're right Wan. I, like some others I expect, have little to say because over the long-term LOK has performed reasonably well. I look forward to expansion of operations mentioned in the results and perhaps a few surprises.

[happyjackal] 13/11/2006 09:51

After first entering at 115p and then increasing my holding along the way up to the peak of 180p-ish, I reduced my holding at 155p when my trailing SL was triggered. I have been heartened by the recent rises and happy to increase my holding again at 170p and 190p, giving me an average of about 145p. Maybe I should have just held, but that's life eh?

I agree that LOK isn't as exciting as BYG, but with a 30% return so far I can't really complain. FWIW, my target is similar to pgetty's and I await news on REIT or even a takeover.

[pgetty] 13/11/2006 09:28

Still holding and watching.

Revised target to 210p early next year.... pessimist or what!!?

Thanks for your information and comments wan... much appreciated.

[wan] 13/11/2006 07:19

Others have very little to say on here, not always a bad thing though.

Given the recent volumes and indeed the share price rise, I would have thought it might generate the 'requirement' for comment? Anyway, I am still expecting some further RNS announcements on holdings etc.

[kievtrader] 12/11/2006 08:51

going higher over 200p soon. KT

[wan] 10/11/2006 07:15

Mr Stock...I was not suggesting LOK was necessarily a better investment than BYG, however, I have suggested that if we use BYG's performance/formula as at least some form of guide/benchmark, then there is conservatively a nice bit of upside to be realised from here (and the institutions appear to agree).

My thoughts/explanation to your dilemma post -

First what I am suggesting is that LOK has a very good brand/identity, and self-storage is an excellent fit with REIT, LOK also has a 'percentage' of 'built in' development projects, again an excellent fit with REIT. This would give the REIT a choice of sales and/or rental growth options, not to mention increases in NAV. So what we have is a very good set of ingredients, in other words a ready made vehicle ripe for conversion.

Dividends have obviously got to be distributed from realised profits, and I believe that earnings growth will soon start following/catching up the sales growth quite rapidly. Realised profits can also come from property transactions, one such transaction, Kingston, could yield a substantial profit above its book value of £1.175m, we have seen profit suggestions of £8m i.e. 30p per share, also there could be substantially more to be realised if the site is actually developed by LOK, again this might actually suit a REIT.

A reminder of the detail and indeed how suitable to a REIT the Kingston development might be -

Planning permission has been granted for high density residential development at the site of the Company's current Kingston operation. The permission is for two 6-8 storey buildings containing 78 private apartments, 16 key worker (shared equity) and 30 social units (43 one bedroom, 75 two bedroom and 6 three bedroom), and a new medical centre of approximately 7,000 square feet.

Today the IC has put another BUY note on LOK, suggesting a number of points (already highlighted on here), they also suggest that on comparison with BYG the value discrepancy is too big, especially given LOK's growth potential.

[mrstock] 10/11/2006 00:19

wan - the directors exercised their options and 'placed' the stock with the institutions. This does not necessarily mean that LOK is a better investment than BYG at this point. LOK copntinues to be an underperforming investment, and will be until management changes.

[wan] 09/11/2006 17:57

Mr Stock...I will give you my thoughts/explain later, but it is not rocket science.

I note we have had an announcement of 'another new' institutional holding.

Institutional dilemma: if LOK is going nowhere (according to Mr Stock) why on earth would institutions have just piked up (between them at around £7.5m) circa 16% of LOK's stock??

Fwiw, I expect to see further RNS announcements.

[mrstock] 09/11/2006 15:25

REIT dilemma: if the directors have been so unwilling to pay any dividends, could somebody please explain why on earth they would want to turn LOK into a REIT??

[wan] 09/11/2006 07:15

Yesterday we had 1 increased holding and 3 'new' institutional holdings announced (bodes well especially if you consider that institutions have been busy building holdings in BYG). I have taken a quick look at the trades data, and even though we have had new institutional holdings announced (one 'after' the close last night), there is still 'at least' just over 3.4m shares unaccounted for/announced and that's just from Fridays large batch of trades, if we add in the directors exercised options the total is over 5m (circa 20% if the shares in issue) shares unaccounted for/announced. So it does indicate that further RNS announcements are due. The announcement after the close (6.07pm) was for one of the new holdings, Vidacos Nominee's, which appear to be acting for/part of Standard Life, what was interesting, given the 3% threshold, was that that holding only amounted to 1.5%, so maybe some of the other trades yet to be announced are also from Vidacos/Standard Life?

I said in post 791 that, "REIT's is so suitable to self-storage that it surely makes it inevitable, even if someone else drives that decision? So 'if' REIT conversion is the ultimate driving factor that has taken BYG to their current rating (seems likely), then that leaves a lot of upside to be realised here." 'IF' I am anywhere near right, and we can use a formula even similar to BYG i.e. their share price is at a significant 'premium' to NAV, then we do indeed have quite a lot of upside to be realised given LOK announced NAV of 213p, so time will tell there.

I am not sure how many of us there are here, but my opinion has been, for quite some time, that REIT's status is surely an excellent, if not imminent, fit. With increased institutional holdings, and as I previously suggested, the chances of someone else driving the REIT conversion decision is surely increased, has anyone else any thoughts on that?

Regards, wan

[kievtrader] 08/11/2006 18:46

who are vidacos nominees? interesting

[wan] 08/11/2006 12:19

Some new institutional holders announced, however, that only covers part of the recent volumes/trades sizes, so in my opinion we are still likely to see further RNS announcements.

[wan] 08/11/2006 08:02

We should get an RNS this week, given the volumes/size of trades etc, which will be interesting if not revealing.

[kievtrader] 07/11/2006 14:41

who has picked up stock from excersise of founders options at 181P? KT going higher

[vassily] 06/11/2006 14:42

wan:

Things are hotting up, you are right. I look forward to further developments. It is not every day LOK share price jumps around. There has got to be someone sniffing around.

Edit: LOK used to state that business was the dominant customer. The quote below indicates otherwise. It is only a snapshot and their are seasonal factors, but it is worth comment.

'At the end of July 39.6% of our turnover was from business customers (25.2% by
number) and 60.4% was from household customers (74.8% by number).'