London Capital Hldgs Share Discussion Threads

[luckymouse] 21/2/2023 11:16

uk.trustpilot.com/review/lcg.com

Caveat Emptor

[robfitz] 13/10/2021 06:34

Does anyone use LCG and can you log on today?

[dusseldorf] 26/11/2018 18:15

1st loan note payment due on Wednesday. £200k I believe. Hopefully alongside some other update that this is not just a zombie co.

[dusseldorf] 28/9/2018 11:22

They didn't even bother to change this bit:
London Capital Group Holdings plc (hereafter "LCGH plc" or "LCG" or "London Capital Group" or "the Group") is a financial services company offering online trading services.

London Capital Group Limited ("LCG Ltd"), a wholly-owned trading subsidiary of LCGH plc, is authorised and regulated by the Financial Conduct Authority. Its core activity is the provision of spread betting and CFD products on the financial markets to retail and professional clients. LCG Ltd has a European passport. LCGH plc is a member of the NEX Exchange Growth Market. LCG Ltd also has access to international markets through its global clearing relationships.

LCGH plc is quoted on the NEX Exchange. LCG is included in the General Financial sector (8770) and Speciality Finance sub sector (8775) and has a RIC code of LCG.L.

You read that RNS without any context of previous ones, and you would assume the NEX listed entity still owns the rights to the company and thus it's trading result - amateur hour(!)

[dusseldorf] 28/9/2018 10:53

Indeed, it's meaningless though unfortunately since Charles Henri-Sabet stole the company months ago. Although it was done within the law it was essentially theft on a grand scale. LCG's turnaround was inevitable, but Sabet who is adept at running close to the legal line is quite happy to cross the moral one when it comes to his own pockets. It's basically financial fraud but using certain merits of the law and deep pockets. The point at which he made his 'offer' - he had 3 months worth of trading data from the current H1, he knew the turnaround was occuring essentially his offer was significantly below what would be considered fair value based on results he knew were coming. Not a single reference to the future of the investment vehicle that original investors are left with, which is the main disappointment. I'm resigned to the fact that Sabet (as majority owner) will let it run into the ground/dilute it/liquidate it for no cost completing his legal theft, but I'm open to surprises.

[aleman] 28/9/2018 06:50

LCG just announced EBITDA of £1.5m from -£900k last time.

[dusseldorf] 24/7/2018 15:48

From 21st March announcement: "The Disposal is conditional on Financial Conduct Authority approval of the change of control of LCGL (as required by section 178 of FSMA). It is anticipated that FCA approval will be granted by 31 July 2018. A further announcement will be made in due course. "

Yet to see if this has been approved - I'm assuming it's a rubber stamp and then LCG as a cash shell is official, then 6 months to find something or it will delist from NEX too.

[luckymouse] 09/6/2018 13:54

Good saying - one of Buffets i believe

[topvest] 08/6/2018 19:50

They are just ripping off minorities again no doubt. You can't do a good deal with a bad person!

[dusseldorf] 08/6/2018 13:46

Its still alive. There is a vote on re-organising the share capital to allow issue of new shares below 5p. Due 26th June I think. Aligned with July disposal completion (well, most of it anyway), should be looking to find out what they have lined up for the reversal opportunity.

[dusseldorf] 23/4/2018 08:36

Someone (not me) bought 1.4m LCG at 40% above ask (was 0.5) over on NEX exchange on Friday.

20/04/2018 16:14 1,428,571 0.7

£10k is a big speculative punt especially above market when we are still in 'slumber' mode with no defined business plan.

[dusseldorf] 21/3/2018 20:25

RJ Allen - There is a ticker LCG.GB on monitor but it's broken. LCG wont move until business ideas in micro payments are forthcoming.

[rj allen] 21/3/2018 18:39

Is it not possible for ADVFN to provide price and trade data for this stock from NEX now it is listed there?

[topvest] 09/3/2018 22:01

I wouldn't value a promise of a possible 1.33p at anything higher than zero. You can't do a good deal with a bad person. He's had everyone multiple times here, so learn the lesson and move on.

[ochs] 09/3/2018 21:30

I think you keep your LCG shares (so no pay out) as it becomes an investment shell - so in time the PLC will probably change it's name.

[jamesjjj] 09/3/2018 20:49

From what i understand the company is being made private and 100% of LCG share capital is being sold to SLCG (also owned by Sabet!). The total consideration mentioned is GBP5,066,883 which equates to 1.33p per share. However what isnt clear is whether as a shareholder you receive 1.33p per share as the consideration is through the issue of loan notes which makes things more complicated. I have tried to get information regarding this but no luck so far. Wondering if anyone understands the rns anymore???

[dusseldorf] 09/3/2018 10:42

mitsubishi - From words from the company (Jasper) a while back there were plans to venture into the crypto space - nothing to date has materialised. By hiving off the traditional brokerage /FX business for a fixed annual fee - provided that a reverse opportunity is found - this leaves the 'shell' left to experiment and maintains sufficient capital to fund its NEX listing / basic administration on an annual basis. Remember that Sabet also converted £18m debt into LCG shares - now either he has written this off completely, or he has other intentions.

Yes, you could sell for 0.5p/share and call it a day or you can take the risk (a large one admittedly) that this process is part of a wider move to expand Sabets portfolio by venturing into Crypto.

From the News release:
The Company will continue to seek investment opportunities and acquisitions in innovative financial technology companies with potential disruptive technologies that could lead to changes in the way funds are transferred, as an example, this could include nano-payments and micro-payment technologies, as well as financial services companies. The Company may seek financial services companies that are FCA authorised to carry out regulated business, such as dealing with investments, asset administration and arranging investment deals. Such a deal may require approval from the FCA for a change of control approval.

It's clear that Jasper at LCG stated the company was actively looking into Crypto tech, but perhaps mixing the two greys the borders too much. Crypto is still viewed with alot of skepticism and has different and new regulation that must be adhered to.

Personally, I'm all about Crypto these days and my hope was that LCG would do both in the same business entity. This no longer appears to be the case, but remember GLIO owns 78% of what's left and it cost £18m. Either it's being written off - or something will materialise from the ashes, and it could well be linked to Crypto/nano ledger payments.

That's enough to keep me holding and news dependent, may be enough for me to buy more.

[topvest] 07/3/2018 18:22

He had a greedy plan from day 1 in my view. The warning signs were there so we have to learn the lesson. You can’t do a good deal with a bad person.

[gheebee] 07/3/2018 12:13

If your broker can sell your shares on NEX you can still get out and buy a packet of crisps and a bitter lemon drink, possibly. Otherwise you are left holding shares in company controlled by Mr Sabet that is likely, in due course, to disappear completely. For peace of mind you might want to just write it all off as a bad experience.

One interesting little snippet. One of the directors of LCG under Sabet's reign was John Dimitri Goulandris, who appears in Jeffrey Epstein's Little Black Book with Prince Andrew. Another, Charles Poncet,recently defended a former director of Havilland Bank, which is reported to be Prince Andrew's private Bank. Small world isn't it?

And with that I say goodbye to Mr Sabet, hopefully forever.

[mitsubishi] 06/3/2018 13:09

Can some one please explain to a not so smart shareholder where this leaves me?

[topvest] 05/3/2018 07:45

Categorical proof that you can't do a good deal with a bad person. Disgraceful.

[gheebee] 05/3/2018 07:36

Oh dear, nevermind. FCA now has the opportunity to put this sick dog down for good.