London Finance & Investm... Share Discussion Threads

[kneecaps2] 05/11/2024 16:13

Thanks Coolen I hope they also follow my second bit of advice and return the money to shareholders which would make a nice Christmas present!

[coolen] 05/11/2024 15:51

Kneecaps, they seem to have taken notice of you. What do you think may follow ?

[kneecaps2] 18/10/2024 17:41

Thanks Kinwah, I wish Lonfin would sell everything and return the money to long suffering shareholders as their investing has been very poor over the years.

[kinwah] 18/10/2024 16:58

Kneecaps, lots of reasons for shareholders not getting a say. It looks like an arm's length transaction with the director of another company. Also the changes to the listing rules now allow a lot of transactions to happen without any shareholder vote. Also £50k would be below any threshold even before the changes to the listing rules because less than 1% of the company's assets.

[kneecaps2] 17/10/2024 09:10

Why didn't shareholders get consulted about the ICH share sale?

[kinwah] 17/10/2024 08:55

The ICH director was Christopher Latilla-Campbell who was associated with the two entities which bought the ICH shares. Probably for his kids or even grandkids as it may take a long time to get planning through.

[smithie6] 16/10/2024 11:10

who ?

========

And ICH
so many years (20 ?!!) trying to get permission to build houses....& despite the supposed massive demand for more houses....permission is never obtained !!
....seems a bit strange to me.

If a director of ICH bought the WSE/LFI stake (29% if my memory is correct) then they think that permission will be granted one day. (or perhaps they get , or will get, enough pay back via fees (and/or jobs for family) to make the expenditure worthwhile ......)

[kinwah] 15/10/2024 12:00

As expected the Annual Report in the related party disclosures section reveals where the ICH ended up - with a director of ICH. City Group continues to provide head office and company secretarial services to ICH.

[kneecaps2] 04/10/2024 17:43

I think more likely it has gone to the family but that is only a guess!

[kinwah] 04/10/2024 14:19

Smithie, the Annual Report may give us more information on where the ICH has ended up. I'm surprised there was no mention of the potential for some compensation from the MWB holding they had but it may be too much of a long shot.

[smithie6] 03/10/2024 18:05

what is the situation with Industrial & Commercial Holdings ltd ?

it held some land in sunny Scotland & the co. have been trying for ~15-20 years to get planning/building permission for homes, in which case the land would be worth much more.

In 1 bit of LFI text, LFI bought the Western Selection stake (30% ?) for £50k....but then sold it for £50k. (if so it might infer that LFI saw no likelyhood of a rise in its value.

Anyone know anything ?

[kinwah] 03/10/2024 16:17

Callumross, I didn't read it that way. They have the problems of increasing costs and dull investment performance and would like LFI to be a larger entity. Having a South African listing as well makes a UK delisting unlikely in the short term. I hope the larger non-Marshall shareholders keep up their lobbying to return value to shareholders with either a share buyback or a transformative deal.

[callumross] 03/10/2024 13:13

Why would anyone invest in this when they have given the clearest hint possible in their annual results that they are going to delist?

[kinwah] 10/8/2024 12:48

I haven't tried to calculate the hidden upside but the City decision on MWB should result in some compensation to former MWB shareholders such as LFI from the non-bid. This could potentially delay any winding up but lead to more value for LFI shareholders. Google MWB takeover if you have no idea what I'm talking about.

[rolo7] 04/7/2024 19:41

No they got cash from western sale that they have reinvested in the markets. I tried to buy some a few months ago no luck

[cynicalsteve] 04/7/2024 08:58

Either the share price has got way ahead of events or there are events that we don't know about yet. Share price must be getting close to NAV, certainly wouldn't buy at this price.

[kinwah] 07/5/2024 16:14

Very interesting share purchase by Warwick Marshall announced today. Interesting because there was a thought that the Marshall family couldn't buy any more LFI shares because it was in a concert party holding more than 30%. This was often suggested as a reason why LFI never bought back any of its own shares. Anyway I think now we will see a bit more action in the shares as a result.

[smithie6] 27/3/2024 09:57

...even with the jump due to winding up Western Selection which removes it's discount to NAV
The LFI share price is only around 50p

While some of us sold at the same price in ~2007
& since then the price needs to have perhaps doubled to keep up with inflation, although the divis add up, but less than inflation.

Not had a good record.

[kneecaps2] 01/3/2024 08:18

LFI is run solely for the benefit of the Marshall family. The directors have proved over the years that they are clueless. LFI will always continue to trade at a huge discount to assets. An immediate wind-up is urgently needed.

[topvest] 01/3/2024 07:55

Warwick Marshall now appointed to LFI. No sign of wind-up just yet with new funds being deployed in the general portfolio over time. Dividend nudged-up. The cost base and tax position is very sub-optimal. Maybe this will go the same way as WSE once City Group and Industrial & Commercial Holdings are dealt with, but it will definitely take a few years. It sounds like David Marshall is retiring. Best wishes to him.

[russman] 03/1/2024 06:32

It is all in the timing.
LFI / WSE has been moribund for years.
Only real use was supporting the Marshall empire.

[smithie6] 02/1/2024 16:30

Topvest
I'm sure that most of the NAV in Western Selection will be paid out to shareholders quite quickly.

----

LFI
Since LFI/WSE have been selling off their strategic investments (Finsbury Food, Northbridge, Kinovo I think....)

& David Marshall has retired as CEO at his biggest responsibility...

& since I think his 1 son/heir, Warwick, has not I think been appointed to the board at LFI

Then logic, or the smoke signals, says imo that LFI will also be wound up & the cash paid out to shareholders, after the process for Wstern jas been completed. That is my guess anyway.