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Hi pat
This is a pretty safe bet with ldg holding mostly cash.
I just dipped my toe back in.
Only 5k at 13.08p
Sit tight and see what happens
I'm definitely not an expert on financials but thought the CTH Interims looked pretty good. Sure they increased their debt but on the back of further acquisitions and their EPS rose slightly which i believe is a good sign, although looks like the markets thought otherwise judging by the drop in SP; today's interest rate hike could be to blame for that though, especially with increased debt.
The offers of 750p from DBay and Sheikh would surely have factored in the likely interims though as these things don't happen overnight. Now just up to CTH to decide what to do.
Watching with interest and nothing left to invest.
Caretech results published this morning. Seems still a solid company although profit margins squeezed. Not sure if it changes bid price.
I hope they don't extend the buy-out period any longer. Im keep to see some realization in plan.
Down to 13p selling today I see, general down-trend market forces at play by the look of it.
And if I was still invested here I'd still be in profit. Damn & blast.
All my own fault I'm sorry to say - novice investing errors; a significant amount (for me, anyway) invested in a relatively small number of companies, and most of those very high risk AIM listings - gas, oil, gold, helium exploration.
Potentially huge returns but not what anyone would call a diverse or stable portfolio. It used to be but I got so bored waiting for anything to happen with the likes of Lloyds, Standard Life and LDG. should have been more patient although 2 of those 3 are now down by a third anyway, only LDG has remained fairly constant.
I'm sure at least 1 will come good and amazing how quickly my situation could change, go up as quick as it went down.
Sorry to hear your not doing great.
I get the feeling we are far from the bottom in the wider market unfortunately. DYOR.
QQQS saved me a few $ this year.
Glad to see this bounce. Lets see what happens at end of June.
Hi Biscotti.
Probably just following everything else on today's economic news.
Still keeping an eye here out of interest though, and in may ways I wish I'd put everything I had into LDG because - remarkably - I'd still be in the black unlike my other investment choices which right now are completely bunkered :-( my total portfolio showing about a 33% paper loss as of just now, quite worrying and a bit depressing.
Perhaps someone is needing the cash to cover margin calls with market as they are. Cant see why its falling.
I don't think a bond that's 2 years away would be classed as an overhang at this stage. Come on Truth, please.
I'm not understanding why Esken's bond secured with Ldg shares would effect the share price. Obviously for Esken shareholders that's bad news because as things stand the money for the bond will have to be found elsewhere.
Why would it drag a share price where the NAV is around 20p based on founds in an account.
Ay caramba!
Some pretty hefty UT's appeared on here today, any ideas?
14p or so still a good discount to the NAV of around 20p, but when - oh, when? - will the SP get anywhere near that?
If only we knew......
The deal has almost been completed upwards moment ! Sp of 20p soonish
Yes. It struggled to move north during the large stock buy back. The fact is gently moving north now, means someone who already holds a good chunk of shares is stocking up on some more. That's my only thought. Hopefully a positive sign.
I don't think this can explode north at this point. However I see no reason why it cant realize a fair market value and has limited downside and good upside potential.
Lets wait a month and see. Even if they lose the bid I cant see this harming the price.
All the best Pat
Hi Biscotti,
I see the CTH deadline was extended again for both DBay and the Sheikh Holdings Consortium until 5pm on 27th June, clearly both parties still pursuing a deal with CTH that suits the successful bidder - if a firm offer is submitted - and CTH.
Appear to be some good buys here today and the SP edging back up, most curious.
Still watching......
Hi TF.
Ok, I have managed to find Esken's Report & Accounts for year ending Feb '21 and there are certainly 5 entries in different sections relating to LDG (formerly Eddie Stobart Logistics), the investments Esken have made in it, and the £53.1M placed into a 5-year exchangeable bond in May 2019. I also see they state the increase in net debt from FY2019 to FY2020 is due to the inclusion of £53.1m of bonds so guessing that is when it was written-down?
Ah, hang on, now I see something - LDG's list of significant shareholders (dated 31.12.20) lists Stobart Group Limited as holding 64,149,500 shares or 11.42% - that's the same total holding declared in Esken's Report so they are or were declared as a significant shareholder. I didn't make the connection before.
By God it's far too complicated for the likes of me to understand.
I think I'll leave it there but clearly more to LDG's present situation than simply having a giant pot of cash and the CTH investment, still curious exactly what it all means though.
Cheers, Pat.
You lost me at 'accounts'.
Why doesn't the 58m shareholding appear on LDG's list of significant shareholders?
Well another month of waiting. I guess the plus point is they are still keen on Caretech to keep discussions ongoing.
But just keeps us all in the dark for another month.
RNS on Caretech board.
On 29 April 2022, the PUSU Deadline was extended to 5.00pm on 30 May 2022, in accordance with Rule 2.6(c) of the Code.
Discussions between DBAY and CareTech are ongoing and, to allow further time for these discussions to continue to take place, DBAY has requested, and the Independent Directors and Panel on Takeovers and Mergers (the "Takeover Panel") have consented to, an extension to the PUSU Deadline.
Consequently, in accordance with Rule 2.6(a) of the Code, DBAY is required, by not later than 5.00pm on 27 June 2022, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended by the Independent Directors with the consent of the Takeover Panel, at DBAY's request, in accordance with Rule 2.6(c) of the Code.
This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that a firm offer will be made. Further announcements will be made in due course as appropriate.
CareTech remains in an "Offer Period" as defined in the Code. Accordingly, the dealing disclosure requirements listed below will continue to apply.
This announcement is being made with the consent of DBAY.
Hi TF,
Your memory probably better than mine, plus your experience and depth of knowledge/understanding almost certainly greater.
If Esken still hold 60m shares in LDG that would make them a significant shareholder - about 10.70% - but this isn't showing in LDG's list of significant shareholders?
I can't see anything on Esken's results for YE 28.02.22 that mentions anything about LDG or a £53m bond either.
Maybe there's no longer any connection?
Or maybe - and more likely - I don't know where to look for such information :-)
Pat
Hi TF, long time no see here.
What does Esken have to do with this? Not sure what the connection is.
Still watching.....
Thanks eviking, didn't you recommend that to me once before?
I had a look but too rich for me, plus I have no funds available at present as already fully invested elsewhere, and all showing paper losses!! Same as everyone else I guess?
No longer invested here but still watching as just intrigued to see what happens. Sadistic or masochistic, only time will tell!
TRY GLEN PATSHARE
Now lots of buys and bid price back up to 13.10.
Nowt so strange as the stock market, I don't think I will ever understand it! Only difference between investing and playing the lottery is that investing costs a lot more than £2 a go!! And all investors think they are experts and know what they are doing, like me :-) only I don't, clearly judging by my results so far :-(
Should've left all my cash in the bank, at least it was only being eroded by increasing inflation and not just thrown at bad investment choices!!
Never mind, one day......
All of the above...?
Bloody frustrating.
Hi Leedsman.
Not a clue!. Seems odd, the SP was creeping upwards, bid price had gone from 13.20 to 13.50 in recent days, now back to 12.70? Market sentiment maybe? Apathy for this share, possibly? Inflation eroding the cash pot?
Maybe a lack of confidence in the possible offer for Caretech, maybe that won't happen?
Hmm.......
Thoughts anyone....?
Any news this morning