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Also sitting and waiting. It's taking so long that I'm beginning to think that a bank account would give better yields.
Nope. Still here and still waiting...
Nice one eviking, I'll have a read.
I was beginning to think no one was here anymore.....
Still watching....
Tipped by Simon Thompson again
The bottom line is that LDG’s shares are being anomalously priced once you factor in the substantial cash backing, the underlying value in its four holdings and their re-rating potential. Effectively, you are getting those stakes at less than half their book value even though their intrinsic value is materially above their current market prices. That double discount is worth exploiting. Buy.
https://www.investorschronicle.co.uk/ideas/2023/09/07/exploit-this-double-discounted-small-cap-fund/
APH half year trading update reads well. On track to meet FY guidance. This really is the bottom for APH, which historically has been a far stronger business. Possible short squeeze on as well (2.16% short), but up 10% so far this morning.
Grabbed a few this week in the lows of the short. Dbay hold about 16% from memory.
Nope!!! It certainly isnt. I haven't looked but i wonder how their investments are doing since they invested. That would have an effect too if they are performing badly.
I had hoped the SP would be eeking above 16p by now and holding firm.
LDG are continuing to buy back shares but the SP is slowly falling back towards 14p.
I'm thinking lack of interest from investors and economic worries are all playing their part here, but whichever way you look at it the buyback isn't having the desired effect.
It isn't going very well, is it?
Thanks @metis20, saved me a job 😉
Seems like slow progress, maybe holders are reluctant to give up their shares unless the SP increases? If that were the case shouldn't it create a vacuum and push the SP up, or will he SP only rise if LDG can get their hands on enough shares?
Or will any increase generated by the buyback be negated my market conditions and market sentiment? Hmm....
And how are LDG's investments performing?
I still think DBay will wait until the SP rises - if it rises - and then offload another big chunk of their holding in LDG like they did last time. Time will tell.
Eyes open but no cash to invest at the moment 🤔
£1.85m spent (excluding expenses) to date on the current buyback.
"The Board, however, expects to limit the total consideration for the Further Buyback to an aggregate of £15.0m."
12.2m shares bought back to date during the current buyback.
".. LDG today announces the commencement of a share buyback programme to purchase up to 112,352,944 ordinary shares ...The Share Buyback will end no later than on the conclusion of the annual general meeting of the Company in 2024"
Approx buyback period is 13 months - almost 3 months of that has passed - so approx. 21% of the total time allocated has passed, approx. 12% of the £15m has been spent and approx 11% of the max. no of shares permitted in this buyback have been purchased.
Hi Bergcarls "There was a guy on this bb that was going to report progress but he's not posted for a while"
Some people eh? So unreliable! At least when I covered the previous buyback I stuck with it and updated on an almost daily basis; I would have covered this one too but as not currently invested didn't feel the need.
Still watching though 😉
You say that they will have to... But look at MBH, they are doing a very similar thing, and hardly buying any. Then when the date runs out, they just extend it. I dont see why LDG will push the price up in this market. I also speculate that the NAV has decreased a little on the investments. So all in all, no better than anywhere else. I cant see the SP higher in 2023.
I did the maths a couple of weeks back.
They'd bought back about 7% of the shares and used up approx 15/20% of the time They will have to start buying more soon , which will push up the s.p
Also people willing to sell at these low levels will dry up.
There was a guy on this bb that was going to report progress but he's not posted for a while
Anyone else still invested here ?
Not expecting much, if any sp movement for quite some time, but i still have a small holding here.
Esken in a spot of bother and they hold a lot of LDG stock-might be holding this share down
Not if they have any sense, low margins and massive overheads as I understand it, and too many headaches.
I think DBay/LDG had their 'success' in distribution when they flipped Stobart and turned it into a pot of cash (somehow, still not quite sure how?) and should probably leave distribution and haulage alone.
Clearly their investment strategy is on a different road now :-)
Any chance of LDG putting a proposal in ?
I might stop watching, it's a bit like watching paint dry.
Knowing my luck though I'd miss something and wish I'd been in.......
Still watching.... a bit.... from the sidelines ;-)
Patshare ldg sp
Moving along nothing to see lol
I expect DBay will offload a big chunk of their shares at the right price when the time comes, like before.
Still watching.
5% bought for 5.5% of total planned cost yet been buying at approx 15p. Does that stack up. Surely they will go over budget if the share price goes up and they have to pay more per Share??
Buyback - up to 112m shares - max spend £15m - to finish by May 2024 AGM. Buyback has been running for about 12% of the max time allocated. Approx. 5% of the 112m have been bought back for approx 5.5% of max spend. Daily volumes have more than doubled recently so maybe they will have moved up to near those 112m/£15m maximums by next May.
Apparently aiming to move sp to above 17.3p :
https://www.londonstockexchange.com/news-article/LDG/commencement-of-share-buyback-programme/15905039
Hi Patshare
Buyback volume. Last few days there has been an increase. Steady away still given their overall target.
Hi Leedsman,
Do you mean the overall volume or the buyback volume? Sorry, not been following progress of the 2nd buyback so not sure how that's going, or what difference it might be making (to the SP).
Not invested here at the moment but still watching.
Volumes being bought has increased the last few days which has seen an increase in share price. Hope that trend continues
I was right...
3rd may, DBAY Advisors Limited as discretionary investment manager of Fixtaia Limited, Logistics Development Group Plc and DouglasBay Capital IV Fund LP takes APH position up to 16.15%
Not sure why it wasnt RNS here, but it was over at APH on the 3rd May.