ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

LWB Low & Bonar Plc

15.45
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Low & Bonar Plc LWB London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 15.45 00:00:00
Open Price Low Price High Price Close Price Previous Close
15.45 15.45
more quote information »

Low & Bonar LWB Dividends History

No dividends issued between 29 Mar 2014 and 29 Mar 2024

Top Dividend Posts

Top Posts
Posted at 20/4/2020 08:14 by time_traveller
Relieved to be out of a 350,000 position, roughly break even after high risk, high return gambles at 6p, added to my much higher priced long term investments in LWB, and in a way, good that I both subscribed to the OO, and hadn't sold immediately after the bid, as I probably would have reinvested it in a stinker like burford capital. Glad low and bonar employees keep their jobs (once c19 blows over).
Posted at 20/4/2020 07:22 by guy_fawkes
Thank you LWB for the £7k and many thanks to the stinger.
Posted at 27/2/2020 10:48 by time_traveller
Mainly because at the moment, they have a clear run at buying the company intact, rather than in pieces (and once in liquidation, a company like this would be in pieces). The business case? - well that depends how long and deep the lasting damage from Corona virus is. The price is chicken feed to Freudenberg. For me it comes down to how much the virus scares them off, and given the general market, I wouldn't be surprised if lwb/sterling even volunteer to drop the price. But WTFDIK ... all very high risk. PS there's still quite a bit of buying going on - shows as sells, but real bid/offer indicates buying.
Posted at 03/2/2020 09:03 by time_traveller
Do get on with it, LWB.
Posted at 03/1/2020 13:07 by time_traveller
Go back a few days and Sterling's buying is mounting up. Some II's selling, some buying, not much to conclude imo, although if anyone has their finger on the pulse, it would be sterling. Normally the risk of a recommended bid being pulled or being reduced is much less than 20%, and a massive company like Freudenberg would be disinclined to damage it's reputation without very good cause by pulling out or gazundering for such a small acquisition as LWB.
Posted at 17/12/2019 19:28 by kinwah
I know it is just 100k shares and there might be specific reasons for it but Schroders selling for the first time during the bid looks rather worrying. Over the last decade they have been closer to this stock than any other mainstream institution. They even appointed a LWB fd to the board of one of their investment trusts. I hope the uncertainty can be resolved soon otherwise investors' nerves will be shredded.
Posted at 16/12/2019 15:14 by time_traveller
Difficult to read anything from such minute volume. Bit disappointing buying hasn't come in, but with everything else booming,LWB isn't an especially brilliant place to park your money at the mo, so I guess some selling to raise cash for something more exciting.
Posted at 04/12/2019 10:59 by time_traveller
As a stand alone company, LWB is now of little value, but it remains a valuable and very cheap "plug in" for a larger diversified industrial, (and I also thought this during my ill fated top ups through the long descent in its SP). The market for share trading has dried up as one would expect, so the selling by smaller investors is knocking the price back, but the bigger players seem to be staying put, or increasing. To me, the discount looks about right in the absence of the likelihood of another bidder coming along - I was more puzzled when the share price was ~15p after the bid. It's a toss up for me whether to hold - a 15% reward for holding a moderate risk for 4-6 months - better plays may be elsewhere, so I might reduce a bit.
Posted at 02/12/2019 15:18 by cc2014
Coeruleoalba,

I'm not in this trade any longer but you can check the detailed timetable on LWB's website.

However, these things take time and the takeover probably won't complete for another 6 months or so. Up until almost the very last days the bid can be pulled, re-priced and yes even a counter-bid could take place.


The discount is now 13% at 13.5p vs the offer at 15.5p which is more than usual at this stage and for example higher than the INTU bid when that one fell apart.


I'm not getting it really. I get the bid at 15.5p as that's the open offer/rights issue price and would clearly get support (which it did), but given that LWB will breach their banking covenants without the bid (just how bad is their trading position if after a £50m rights issue only 8 months ago on a market cap of now £90m) it's breaching it's covenants again. On this basis it seems worth well not very much (sub 5p anyway, maybe 2p).


So, bidder pays around £107m and then has the debt as well, a number which I can't even be bothered to look up properly but at mid-year was expected to be £110m. Ok, so LWB has some fixed assets and the bidder can refinance the debt at a lower interest rate, but regardless I'd say the transaction looks challenging.

Add in the exchange rate risk of a conservative government with Sterling improving minimum of 5% and nothing seems to be going LWB's way.
Posted at 13/6/2019 20:05 by ed 123
Yes, it's a big fall. Looking behind those bare numbers, we can see Low and Bonar have been serially unlucky.

They bought Texiplast at a time when Eastern Europe was about to reduce its civils work and when competition from Asia was about to pick up. After a few years of struggling, they are now selling their whole Civils Division.

They put money into a Saudi joint venture with NATPET, coming on line when the oil price had fallen sharply, resulting in poor demand for its output (there was little money available for sports pitches and suchlike). The venture never made a profit and eventually LWB negotiated a walk-away, writing down the full cost of the investment. Subsequently, the oil price made a partial recovery. (I don't know how that factory is performing these days.)

They moved into China, making Colback for the car industry. They had good initial demand and profit, and set up a second Colback line only to see the US impose tariffs on China, hitting demand for the factory's output.

They had quality problems in their Coated Technical Textiles division. After a couple of years of slowly getting things sorted, they emerged fixed but into a Brexit affected Europe. They are having trouble winning back old customers in mainland Europe. I wonder if some of this is an inclination to avoid buying from a Brexit Britain headquartered company when mainland Europe competitors can supply?

This describes some of the journey from 6.3p eps to a rescue 15p rights issue. They have certainly been unlucky.

Going forward? I just can't see how things will turn out. The geo-political issues are uncertain but important to Low and Bonar. I hope it goes well but at the moment I'm not re-entering here. That may change? If one day I think I can make money by buying back into LWB, then I would do so.

Some are hoping for a takeover. It's possible but Sterling don't give up easily on their investments. I don't think they would accept a bid by another party with the current shareprice around 9p (just my view). Maybe Sterling could take LWB private? It's not their normal style but who knows?

Sorry, I can't write anything of much encouragement. Commiserations to holders.

Your Recent History

Delayed Upgrade Clock