London Finance & Investm... Share Discussion Threads

[8 ball] 18/5/2002 18:08

I come across LFI via my holding in WSE, LFI looks the cheapest of the two at present.
Thanks for info on MGM.

[8 ball] 18/5/2002 11:43

Could someone tell me what the details of the warrants are.

[8 ball] 17/5/2002 23:04

Callumross

Why do you think LFI and WSE are kept as two seperate companies, would one company not create a higher profile and more luquidity.
I just did a quick calculation of net asset value, due to the increase in MWB, it came out at 43p.
Feel free to mail me with your ideas on the above companies.
[e-mail]

[amsgjh] 17/4/2002 15:20

callum do you work for blackrock in edinburgh?

[callumross] 17/4/2002 14:26

amsgjh - the illiquidity is a problem but my angle is that it may not be a worry in practice - I have a feeling the company will have to take corporate action to return shareholder value, given the huge discount to net assets this share has stood at for many years. I anticipate the liquidation of assets and subsequent return of cash to shareholders. Implausible? Certainly not, since David Marshall has presided over the liquidation of the business and return of assets to Creston shareholders in 2000 and Megalomedia shareholders in 2001. In both instances, he was the chairman, and shareholders, including myself on both occasions, were handsomely rewarded.

[amsgjh] 16/4/2002 15:02

i have to agree, but the illiquidity is a real problem.
the price rarely moves, and when it does its usually the wrong way.
i would need to see a trough and greater liquidity before buying, i think can sacrifise the first gains to be sure of a rise

[callumross] 12/4/2002 16:39

anyone checked out this little beauty of an investment company which reported a net asset value for the stocks it held of 39.25p at 31st december yet the price is only 22p today! - it gets better - they hold 3m shares in marylebone warwick balfour which has appreciated from 88p on 31st december to 105p today - worth over half a million addition to current nav yet the market cap of this fully listed tiddler is only just over £5m! A shareholding in merrydown has also appreciated by 10% since the year end and its other two holdings, western selection and megalomedia are either unchanged or slightly down - megalomedia is exciting in itself as a cash shell with a business about to be injected into it and LFI own 40% of the company so are well exposed to any exciting action there. Also western selection are trading at a 45% discount to assets. All in all, LFI looks a great low risk/high reward situation in these markets, although I would caution that the shares are rarely traded, and only lots of 5000 are easily obtainable.

[ghhghh] 14/1/2000 00:30

Remember to look at London Finance if Western goes too high, owns 40% Western plus a small amount of Creston direct - 207,000 shares (2.39%) at last accounts, now worth £570,000 versus £218,000 last accounts. LFI also owns 2.6m shares in Marlyebone, market value was £1.924m at last accounts, now £4.16m. LFI's stake in Western was valued at £1.5m last accounts, 17.6m shares now worth £4.7m and 3.328 warrants now worth £0.55m, total £5.25m. LFI's stake in Megalomedia was valued at £0.81m, now 3.855m shares at 29p worth £1.11m. Market cap of LFI £8.3m. I reckon NAV should now be over 60p with shares at 32.5p. Was 35.8p last accounts. A safer if more boring play on Western (also with rumoured potential internet exposure to Whitecliff, suspended in reverse take over talks) and Creston.