London Capital Hldgs Share Discussion Threads

[undervaluedassets] 16/1/2015 10:42

Right so they have now come out with a statement . . but seems too vague and does not really reassure.

Inference seems to be that clients came out alright but that LCG did not.

Prepared to be corrected on this one.... (anyone?)

[undervaluedassets] 16/1/2015 10:38

London Capital Group need to come clean about hit it will have taken on the Swiss Franc (like IGindex did yesterday).

Otherwise these have a lot further to fall.

Company is still in delicate early recovery mode after years of misteps and under-performance.

Swiss franc concerns is definitely what is causing the swoon today.

[alphatrend1] 08/1/2015 08:36

Big Delayed buys yesterday, one at 43p, looking good for further gains

[topvest] 07/1/2015 17:51

Well these are starting to fly. Is it just improved volatility in the market helping the trading performance or are there other positive developments? I suspect it's a bit of both. Will continue to run with this for now.

[fozzie] 18/11/2014 21:13

I sold this afternoon at 36p. After being underwater for so long to get out with +10% felt too good to miss. Obviously the cue for continued rises ;o)

[gingerplant] 18/11/2014 20:50

Well as Duncan Bannatyne would say - "I'm sorry - I'm oot" after the rise.

I've lost a bit of trust now after the slightly 'incestuous' IT deal - and will watch with interest what happens from here. My sales are usually effective market alerts to make a stock go nuts.

[topvest] 18/11/2014 20:24

Why are they buying shares after issuing a load at a lower price...confused!

[fozzie] 18/11/2014 10:05

Well well another day and another rise. This is getting interesting :o)

[fozzie] 17/11/2014 10:52

Morning Vicar ;o) Back into profit here, forgot i had them, a lovely surprise this morning.

[arthur_lame_stocks] 16/9/2014 18:37

Anyone else feel that this deal that Sabet is doing with his own software company is possibly not in the bests interests of shareholders. After all it's going to cost £2m in the first year and £1.2m after that. Is this software really going to add that much to the bottom line? That's nearly £4.5m over 3 years. It must be bloody good software!!! I sold on this news for a small loss but I'm glad I'm out.

[topvest] 13/9/2014 17:32

Let's hope they are getting in before some good news. One gets the feeling that Sabet has plans. Whether they will generate shareholder value or not...time will tell!

[leecoyote] 11/9/2014 22:48

It seems someone wants to buy the stock of late too. Sabet's friends?

[topvest] 11/9/2014 19:54

Yes, its like being in a revolving door if you are on the Board here. He's been rubbish anyway so good news. Lets see what Sabet can do then. At least Mr Market is impressed!

[leecoyote] 11/9/2014 16:49

Well, well. Seems Mr Ashby was the unwitting architect of his own downfall with today's news...

Poetic justice really.

[topvest] 04/9/2014 12:26

Well the price has picked-up. Lets hope we are proved wrong and Sabet is actually a good thing for us here.

[leecoyote] 04/9/2014 09:29

Seems to be no stock around. I wonder if the purchases by Sabet of Artemis and ex directors at 35p have cleaned the market...

Wouldnt be surprised to see these at 35-40 before year end...

[trikon60dollars] 27/8/2014 09:31

27 August 2014

LONDON CAPITAL GROUP HOLDINGS PLC

("LCG", "LCGH", the "Company" or the "Group")

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2014

Operating Summary

§ Adjusted loss before tax* from continuing operations of
£0.9 million (H1'13 profit: £2.9 million)

§ Revenue from continuing operations down 39% to £9.2
million (H1'13: £15.2 million)


"The business has been operating in challenging market conditions
throughout the first half of the year, with relatively low levels
of volatility across financial markets for much of the period. We
have been focused on completing the deployment of the new trading
platform and a programme to rationalise the fixed cost base."

Low volatility is true, but 39% drop in revenues is dreadful. IG's
revenues for comparable period were down only 3%, Plus500 were up
138%. Let's hope Mr Sabet's millions make a difference to the
results going forward.

[trikon60dollars] 11/7/2014 10:14

The institutions voted with management, either because they were participating in the convertible, or because it is very rare for them to vote against something recommended by management. Sabet squeaked over the line by offering a premium price to those who would presumably have voted the deal down, Simon Denham, who presumably didn't have the cash to participate in the convert and Artemis - I think dangersimpson2's analysis is spot on and that unfortunately the Takeover Panel rules probably don't apply.
This whole sorry affair does not show the City at it's best

[topvest] 09/7/2014 20:56

Yes, very underhand. Why they think they can dilute everyone else at less is beyond comprehension. We need ShareSoc on this one as it is a disgrace. 82% voting yes is a puzzle?

[checkers2] 09/7/2014 20:50

I have contacted the company secretary, and 82% of the votes cast apparently voted for the motions. All rather academic now in any case.

I am surprised the share price hasn't hadn't further south, these underhand tactics would indicated the tone of things to come

[dangersimpson2] 09/7/2014 14:33

If they were voting for a takeover and they offered one party a higher offer this would clearly not be allowed by the takeover panel however given the structure of the deal as a convertible loan I'm sure they will have taken advice that this is fine. It certainly now explains how they could get the vote through instead of accepting an offer at 30p since they offered the large holders 35p for their votes.

Unfortunately i don't think this means that they think the company is worth 35p just that the convertible price and attached warrants value the company at such a large discount to cash that they could afford to offer 35p to the large holders and still get a good deal. The chances of seeing a takeover at that level are nil afaics since if they wanted to pay that for the whole company they could have just offered it in the first place.

I can't see how anyone can trust these directors to run their company anymore - if they have used this method to get the convertible through then what makes you think they won't use similar tactics to deliver returns for themselves instead of shareholders?

[checkers2] 09/7/2014 10:15

Yes, and makes you think what kind of deal could have been made with the Directors and ex-directors.

Today I have asked the company secretary for the results of the vote from the EGM, and curious to see how the motions were voted.

Will post when they reply.

[davidosh] 09/7/2014 04:08

Is it really legally possible to offer one shareholder 35p to effectively buy their votes like this whilst leaving the smaller shareholders feeling shafted ?

[leecoyote] 08/7/2014 22:40

From Spreadbet mag's site.

LONDON CAPITAL GROUP - WHAT ON EARTH IS GOING ON BEHIND THE SCENES?

The following announcement has just been made this evening via an RNS to the market -

"Pursuant to an agreement dated 2(nd) July 2014, GLIO Holdings Limited ("GLIO") has agreed to acquire 5,000,000 ordinary shares in London Capital Group PLC ("LCG") from Artemis Investment Management LLP at a price of 35p per share, subject to certain conditions being met, namely the passing of all shareholder resolutions proposed at the general meeting of LCG on 3(rd) July 2014 (which were in fact passed) and the grant of the Approvals (as such term is defined in LCG's circular dated 17 June 2014). If such conditions are not satisfied by 31(st) December 2014, the agreement to purchase shall lapse."

At its base level, the entity that is supplying the convertible loan money to LCG - GLIO which is owned by Mr Charles Henri Sabet has entered into an off market transaction to purchase 5m shares in LCG off fund managers Artmins for 35p. It seems that GLIO felt that the vote was going to be rather closer than, in the end, (and much to my surprise I will admit) it was.

Quite why GLIO did not offer 35p to all shareholders is totally beyond me but at the very least what this does now is put a floor under any bid price for the balance stock by GLIO over the next 12 months per UKLA Takeover Panel rules should it convert. Alternately it gives an idea as to what GLIO think the stock is worth in the short term.