Share Name Share Symbol Market Type Share ISIN Share Description
Low & Bonar Plc LSE:LWB London Ordinary Share GB0005363014 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 15.45 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
15.40 15.45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 317.30 -58.80 -9.72 107
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 15.45 GBX

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Date Time Title Posts
20/4/202009:50Low & Bonar Plc2,124
09/7/200717:36...i have followed this donkey from lowlands of 42p...it still can double...8
31/7/200519:57Low & Bonar for the asset sensitive120
21/4/200412:05Low & Bonar + 30 Ј million contract4

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Low & Bonar Daily Update: Low & Bonar Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker LWB. The last closing price for Low & Bonar was 15.45p.
Low & Bonar Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 689,756,295 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Low & Bonar Plc is £106,567,347.58.
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).
guy_fawkes: Thank you LWB for the £7k and many thanks to the stinger.
time_traveller: Not sure if the RNS is supposed to reassure or worry, as it tells us what we already know - that the application is in, but its game over without the takeover - but the share price tells me to write this one off, and if it goes through, then that's a bonus. That China is operating but the rest of the world isn't, isn't much of a consolation!
cc2014: ok, so the price of oil has just collapsed which is going to make LWB's input costs considerably cheaper. On the other hand Covid-19 must be affecting revenue. I don't think anyone knows what will happen but the market is telling us it the chance of it going through at 15.5p is low (else the price would be 15p at this stage. Price currently 10.5p to buy and at £6k worth of shares traded today no-one is filling their boots.
cc2014: The monetary value of the volume though is small. So, far today 100k shares gone through which is £11k It's Arena vs the rest of the market right now and has been for over a month. I think they started with about 1.5% of the total share capital and it's taken them well over a month to get to half that. I'm sure they will keep going until they have finished. Arena are trying to get out without disturbing the price too much and are having far more success than I thought possible. It would be my guess based on trade flow that once they are finished the share price will start rising. At the current rate that's going to take over a month.
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.
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.
cc2014: hmm. Well the share price continues to nudge up and the discout to the offer price seems a bit low to me. In addition the largish 500k sell order at 15.0 has in the last half hour been pulled suggesting to me it was fake, designed to try and keep the share price down and the owner was getting worried it might get filled as the number of others sellers below it on the book was getting less and less. All of which is good as I might be happy to let mine go for something over 15p now. I'm interested to see what happens once the bid reaches 15p. That's the sort of area where you might begin to think someone has got whiff of another bid. All conjecture on my part but 14.8 looks too high to me and 15.0 would be definitely too high.
cc2014: Hi Baner, I tend to be in agreement something is going on behind the scenes here as the price movement is irrationale. OK, 6p was stupidly low given the recent rights issue and even accounting for FTSE demotion it shouldn't have gone to 6p on the volume it did. The thing is though it shouldn't be bouncing this fast unless there is a reason we don't know about. Even if we suggest a few short are closing and have got caught out a bit at the speed of the rise and now a few trackers are having to buy back in (lmao) the rise is too fast. Someone always knows something and someone is happy enough to pay 11.5p when they weren't paying 6.2p a few weeks ago. I think we are now reaching the point of interest though. The rights issue/OO was at 15p and after that we had a mild profit warning. Trade wars have died down a bit since. In my view the OO price of 15p was artifically depressed as the price fell far too fast before it and even days before the OO, the share price was standing 15% higher than the OO price. I know as I sold there and then bought back lower. So, it's my view the share price should be somewhere between 14p and 20p right now which is a broad range I know. Long term I think it should be higher still. The buy volume continues to come in and I see we are back in intraday aucion yet again as someone is trying to buy above 11.3 But the puzzle remains. Why is someone is such a hurry to buy and it is one person or competing people. To me it looks like more than one person I'm still fairly fed up with this share. Still down significantly at 11p, but at least it's better than 6p. I still feel aggreived. At 15p I could at least shrug my shoulders.
nick rubens: LWB share price is a good reminder why 'investing' is baloney alot if not most of the time. No comment from the company to reassure investors? Are things going from bad to worse on the trading outlook?
Low & Bonar share price data is direct from the London Stock Exchange
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