Share Name Share Symbol Market Type Share ISIN Share Description
London Finance & Investment Group Plc LSE:LFI London Ordinary Share GB0002994001 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 39.00 0.00 08:00:06
Bid Price Offer Price High Price Low Price Open Price
37.00 41.00 39.00 39.00 39.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments -0.63 -2.60 12
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 39.00 GBX

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London Finance & Investm... Daily Update: London Finance & Investment Group Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker LFI. The last closing price for London Finance & Investm... was 39p.
London Finance & Investment Group Plc has a 4 week average price of 36p and a 12 week average price of 34.50p.
The 1 year high share price is 40.70p while the 1 year low share price is currently 29.50p.
There are currently 31,200,000 shares in issue and the average daily traded volume is 6,709 shares. The market capitalisation of London Finance & Investment Group Plc is £12,168,000.
smithie6: LFI & Western Sel. main investments not done too well imo in last 6 months Finsbury Foods. Bilby. Swallowfield ..each down 30-40% & NBI ...long term it divided by about 4... 2017-18...up from 70-90p to fall back to 115p now.. ...if only the nicely paid 'experts' (😂😂) on the bod had taken the big profits at 4-5 pnds/share --- & the 'new' strategic investment in Bilby has been a non-event so far...
smithie6: While the Marshall thing is a negative factor the share price looks cheap vs NAV which has been in up trend for last 2 or so yeaes I think....mostly due to FIF price rise Discount to NAV looks a bit big at the moment & FIF share price perhaps relatively solid the big discount is phps unwarranted ?
russman: I would suggest LFI are at a large discount for at least 1 big reason. It is the same strategic issue Mr.M has had for over a decade, if not longer.
smithie6: Russman you have any comment on the high admin. costs for LFI ? for the little or nothing that LFI has done in the last looks excessive to me.... over 400k (if you wanted to propose resolutions to the AGM..that you thought that most shareholders would support..I might have contact with someone with the votes to do that... if they wanted to of course you can always send to me privately via my website e-mail if you wished)
markt: at Athelney Inv. Trust... which operates a general portfolio as LFI does cost to run the co. is approx. 90k/year. whereas LFI is around 300k/year.... (noting that LFI has had no action to take for its 3 strategic investments. Athelney has no strategic investments) So how does LFI justify its cost of 210k being almost 3 times as high ? To watch FIF and MWB costs 200k/year ? (noting that with large shareholdings you can not sell easily, only every 5 or so years perhaps) FIF and MWB have been held for years now. FIF since about 2002 or so. MWB from before that. The Athelney Trust seems to be a lot more popular....very small discount to NAV (surprisingly small). Perhaps because the chart shows that it has a clear up trend to the NAV and price !. And people want to buy stuff that goes up !. Whereas LFI has the same NAV as it was in 1991, 20 years ago !! while still under the control of the same Chairman, D.Marshall. ==== The cost to run WSE is 280-300k/year. + 54k paid from Hartim but not to WSE...+ 30k from CRE but not to WSE= approx. 380k !!! And WSE pays 46k/year office rental costs although it has no staff !! (day to day running is done by City Group, paid around 90k for it) (while it appears that Monteagle Marshall (large % owned by Marshall family trusts) has staff at LFI offices but it is not charged office rental). Logic ??!! Are shareholder assetts being intentionally bled ? Could one argue that WSE is being bled ? (son employed as director of subsidiary of 75k.....if same for 10 years then = 750k....payments to "overseas company" ref. D.Marshall of 25k from FIF, 7k from NBI, 15k from LFI, 15k from WSE, about 30k from MWB, ..... .if NAV grows then it can be supported but NAV does nothing then high costs bleed the NAV and stop the NAV and share price from seen at LFI). --- City Group PLC provides accounting/advisory services for operating in Luxembourg (Monteagle Marshall), Channel Islands or skills not needed or used by WSE or LFI. Are WSE/LFI subsidising the provision of those skills, to others ? ==== I don't propose selling LFI shares....but changes in how LFI is managed and a reduction in costs.
markt: The NAV of the shares of LFI of Mr D.C.Marshall (Mr Marshall's family trusts being the biggest single shareholder) does not appear from what I can see to have performed over the longer term. The LFI NAV in 1990-1994 was 33p, 21p, 20p, 37p, 34p. 1996= 47p, 1997=45p The LFI NAV 2006-2011 was 52p, 66p, 39p, 25p, 27p, 35p Share price performance over 10-20 years looks to be....random !.and down If it had been invested in Black Rock or A.N.Other fund for small companies the 33p would now be 4-6 times greater, ie 130p-200p. Whereas LFI share price is 22-24p. Very different. ..imho it does not show any up trend or demonstrate investing skill (5-6M pounds lost by not selling MWB holding, with LFI cap. value around 7M now, that is a big amount of money lost....tiny or negligible chance that it will ever be recovered imo) With inflation 33p in 1990 would now be worth around 50%-100% more, 49p - 66p. The dividends have not kept up with inflation. Imo shareholders in LFI have lost money since 1990-1994. ==== I don't propose to sell shares...I propose that changes are made at LFI....change investment strategy (if has not worked), change control of the board, separation of the board from the investment manager (and replace them if performance is ever poor), avoid having anyone on the board of investee companies (that strategy has not worked) possible new investment manager(s) ? lots out there in small company sector with good records...
markt: TOPVEST I hear what you say but I disagree. 1993 NAV = 37p. 1994 NAV = 34p. 2011 NAV = 29p at last interim results, and 26p in February 2011. Growth over 18 years is NEGATIVE !!! ==== While shareholders lose money, Mr Marshall senior and Mr Marshall junior make money from LFI. Every year. Year after year. The return to Mr D.C.Marshall is approx. 23%/ year compared with the value of his investment in LFI shares....approx 107K income from being on boards where LFI/WSE invest. Over 10 years he has more than got back the full cost of his LFI shares. ==== If growth is negative over 18 years then I would prefer that the directors depart rather than the shareholders ! (you suggested that I sell. Shareholders own LFI not the directors).....but shareholders seem intent to stick their heads in the sand and do nothing.... ==== With say 4-6% compound growth...the share NAV should now be over double I think, over 74p. And it is no where near. There were 25M shares, now 31M shares. Some new shares at 25p in 2005, minor dilution. The full history for NAV for WSE and LFI can be seen on this msg boards higher up. ==== The return to Mr D.C.Marshall is approx. 23%/ year. Value of his beneficial LFI/WSE shares compared with his income as a director of the cos. where WSE/LFI invests and on WSE/LFI boards. 23%/ year and been a director since approx 1974 !! === Perhaps the directors are more interested in LFI/WSE just continuing (so they get paid)....rather than the shares going up in price. LFI has existed since 1924 I believe. === I also question (as does Topvest I think) whether certain decisions are not made about investments (eg. sell all LFI shares in company X) because Mr Marshall would then not receive his directors pay at company X, paid to "an overseas company"
markt: Cautious Investor "Should shareholders trust the word of the directors ? Frank Lucas is described as independant director....and as associate of Aron Loeb , broker, and receives a commission for any trades that he introduces... but !! old LFI RNS notices state that Frank Lucas is in fact the founder of Aron Loeb !! and hence one assumes to be the major shareholder in Aron Loeb" The 2 pieces of information are contradictory. 1 says 'associate' and 1 says 'founder' (and hence major or sole shareholder). The LFI RNS "contradicts" the LFI company accounts. Both are issued by LFI directors. Hence it appears that one of the 2 is not true. The rules require that directors must give a "true" report to shareholders. Cautious Investor ...come on, tell us what is the reality regards F.Lucas. He is just an associate of Aron Loeb or he is the founder (as the RNS states) (if you want I will post the RNS, issued in the past by the LFI directors) ==== Cautious Investor ....also, you appear to be intentionally misleading the market....imho ...there is a director of LFI that has made "large" share sales in LFI in recent weeks.... if you want the share price to go up....then perhaps you should tell that LFI director to buy shares and not to sell them !! (that director has sold many times over the number of shares in LFI that I could sell, ie. his influence is much more important than mine) any case, my posts are pointing out any mistruths or similar from the directors.....the honesty of the directors etc is important and perfectly correct that the public discuss it on message boards.... sadly the LFI board, to which you have connections, refuses to answer questions and refuses to provide clarification so that the truth is known... ....but perhaps there are many related party situations ....and the board prefers to keep things quiet.... such as....are family members of Mr Marshall using the luxury apartment owned by LFI (an apartment that LFI borrowed money at 5% for and then rented it out for years obtaining only a 2% return !!.....and LFI has costs, 2.5%-3% of cap. value to run the company, so it could be argued that an 8% return is needed, to break even..) and what is the justification for WSE paying 47k rental to City Group when City Group only pays 43k for all of the offices....and WSE has no staff !!, it subcontracts all its work to City assumes that WSE only needs an office for 6 board meetings and for the auditor to have somewhere to do his paperwork....47k does not make sense. LFI/WSE refuse to clarify this point or to publish any breakdown of expenses. They have something(s) to hide ? Who knows. Cautious Investor - stop hiding the truth and start giving us some answers.
cautious investor: Markt Independence is a state of mind. Not everyone is as self serving or as incompetent as you seem to believe. Have you met Mr. Lucas? Are you going on personal experience? Or is this just more outpourings from your vivid imagination? Where do you get this idea that Loeb Aron are receiving any commission? What makes you think that auditors would have overlooked such an obvious possible related party transaction? Share prices (as any aspiring economics student can tell you) are based on the balance between supply and demand. Your ill informed and highly speculative posts can only reduce demand and thereby reduce LFI share price. Is this what you want to achieve? If it is, all readers of this blog, myself included, would benefit from an explanation of why you want to reduce the LFI share price? If your objective is only to speculate about theoretically possible but totally unsubstantiated misdemeanors, then you have already achieved this ad nauseam, and having performed this "public service", unless there is overwhelming demand from other readers of this thread, I do not see any benefit from your continuing participation on this thread. If other readers want you to continue, please will they post to that effect. I will then stop following this thread and start a new one for those who want a thread based on reality, rather than outlandish fiction. Markt, if you do not get support from other readers, please stop posting here.
markt: Any opinions on the Benefit Scheme ? Did you know that 1 of the 2 main beneficiaries of the scheme is the son of D.C.Marshall ? And that if LFI/WSE share prices double in future years that the shares of the scheme will be worth 1M pounds ? (rising back towards what many shareholders already paid or paid + inflation, so little or no real gain) 1M pounds of shareholder money...past performance of LFI/WSE over last 10-15 years has been bad. Anyone not happy, like me, that the performance criteria for the shares allocated have been kept secret from shareholders ? Anyone not happy, like me, that the details for how many shares allocated to who have been kept secret from shareholders ? Anyone not happy, like me, that the fact that 1 of the 2 main beneficiaries of the scheme is the son of D.C.Marshall was kept secret from shareholders ? (if shareholders had known perhaps they would not have voted in favour or would have asked for more/some information) ===== LFI directors salaries down in 2010 from 2009, from 47.5k to 42.5k. Creates the impression that director's costs are being reduced. BUT ! the reality is very different imho At the subsidiary City Group PLC the directors salaries increased from 147k to 169k ! 15% increase !!, while inflation was around 2-3%. So public reduction is 5k pounds while non-public increase is 22k increase !! Total result is 17k increase in directors salaries of LFI and its subsidiary City Group, while give the impression to LFI shareholders that directors have reduced their income, false !. Adding the salary costs of Directors at LFI and City Group you get 169k + 42.5k= 211.5k !! This is a high cost imho as a % of the income received by City Group/LFI. Over 10 years it it is 2.1M. Over 20 years it is 4.2M. Mr Marshall has been a director of LFI since 1971. 40 years. And Mr D.C.Marshall also receives payment from each company that he sits on the board of, and this is paid I think, to an international company according to the accounts of each company, one assumes registered in a tax haven, such as Luxembourg where Monteagle Marshall is registered. Perhaps tax free. The payment from Creston is perhaps paid to City Group. 30k/year. ===== The NAV of the shares of LFI of Mr D.C.Marshall (Mr Marshall's family trusts being the biggest single shareholder) does not appear from what I can see to have performed over the longer term. The LFI NAV in 1990-1994 was 33p, 21p, 20p, 37p, 34p. 1996= 47p, 1997=45p The LFI NAV 2006-2010 was 52p, 66p, 39p, 21p, 23p NAV now, 21 years later = 26p !!. Share price now 18-21p. Share price performance looks to be....random !.and down ..imho it does not show any up trend or demonstrate investing skill from the directors whose salaries add up to 211k/year. (noting that the directors company is also responsible for providing accounting etc services to a number of listed companies that does provide income to the company (that equals the cost, 1/2M in each direction) (The payments to Mr D.C.Marshall are around 107k, paid to a certain overseas company which is never named. One assumes it is in a tax haven. If same pay for next 10 years then = 1.07M pounds !).
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