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It's sad how this company operates and the sp moves.
B/O spread of 7 - 10p yesterday replaced by spread of 9 - 11p today causes the price here to show a supposed 17.65% increase ! ... and when I put a dummy sell into HL I get offered a price of 10.1p
Hopefully at some point some of the intrinsic value will accure to us "little people"
**There is enormous value to be unlocked with some pretty simple re-organisation and increased share liquidity.**
There is indeed, but with no especial benefit for the Hellers, who seem quite happy to continue creaming their own profits and director emoluments at the expense of all the other shareholders.
It is true that just over half of LAS is held by Hellers, but at this price, it wouldn't be hard to be by far the biggest shareholder. Nobody but John derives any meaningful benefit from the company as it stands, so why wouldn't others sell?
I really don't think they are a bad lot, but I do think they are currently trapped by history, and have ended up with two of the most bizarrely structured companies on the market. There is enormous value to be unlocked with some pretty simple re-organisation and increased share liquidity.
I thought the downside of these two companies ( in spite of some fantastic fundamentals) is that from a takeover point of view they pretty much have it sewn up in terms of % voting?
For £4m, you could now take control of LAS, and simultaneously take effective control of Bisichi and its £13m of share investments and £7m cash.
If the Heller boys aren't careful, they'll lose control of the golden goose.
Beaz - its a vanity share . The portfolio is made up of secondary property which continues to suffer in a digital world. Too much retail not enough industrial and management not hungry enough. All in my opion.
Half-year results will probably be in a month, as you say under NAV - according to past RNS scheduling
Another bag if it goes back to NAV.
I’m glad that I only made a small purchase here, this is like some kind of zombie share, no divi, no movement. It appears we’ll under NAV but what will make this change?
Very true! It's sort of funny in a way.
It's a curious ghostly reflection of Bisichi, with a variety of commercial properties and residential developments thrown in for free.
I'm fairly certain if it was properly presented, it would actually make quite decent sense. But there does seem to be a wilful crapness to LAS which won't go away.
A proper website would be a start.
What is the point of this share being listed on the stock exchange? The board don’t seem interested with increasing the share price, that provide the bare minimum communication yet pay the costs associated with being listed…
Well Edward, it seems that the seller of 35000 shares back in March only needed to buy something that didn't drop 50% instead !!!
Bought 30k @ 11.8p - holding 60k - horrible share but hopefully horribly cheap at this price or at least unusually low…
Market cap equal Bisichi shares plus just £3m.
This sudden fall looks overdone, a great buying opportunity, especially as the value of Bisichi accounts for the full market value.
With the prospect of a slowing of U.K. interest rate rises as a result of concerns about the banking system, strong demand for London rental properties (see Foxtons recent results) and the possibility of a little cash windfall if Bisi announce a one off additional divi, which has not been priced in yet, LAS looks like an interesting punt…
Someone just sold 35000 shares in a profitable company that is about to release results showing a P/E of 1.
I'd love to know what they bought instead?
Topped up another 20,800 at 19.902p, don't know why it's not showing on the "buys". Roll on the results.
About time this started to move up. Many property related stocks have enjoyed a decent boast in the last couple of days. This appears to be way undervalued.
Good shot, picstloup.
I’m hoping that you have made a superb choice here Picstoup, as have also bought in too! Approx 20, 000 LAS shares equates to about 1000 BISI.
Just put myself down for 33918 at 21.99p. Seems very good value in view of coal averaging $250/t or more throughout 2022. Low debt as well.
If you bought London and Associated plc for its market cap (currently £17m), you would get 41.5% of the c. £50m 2022 balance sheet of Bisichi plc, with a net £40m of property assets thrown in to sweeten the deal.
That's £60m of (enormously profitable) assets, all for £17m. I've never seen anything like it.
It is curious that neither the full year 21 results, nor the H1 2022 results, are available in the Live RNS section?
High time that this share price started to reflect the value of its stake in Bisichi.
Hi Edward, I use Stockopedia and that are quoting an eps of 5.63. There’s no forecast earnings / broker estimates though for these or Bisichi which is a shame.