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All in 12 months. NOW WHERE HAS TRUTH FACTORY GONE.....
Is anybody else completely baffled by the market movement off the back of this news?
Damn right but i am not a 'professional' investor. I am waiting for someone who can make sense of it to explain it to me... somebody... please....
47.8M EBTDA and a 77.2M in debt reduction alongside a 2% revenue increase!!!!! Why the f*** is the SP down
People need to stop reading GWSA performance headlines and realise what company they actually have a shareholding in. There’s so much dilution and cost been passed on down that road beyond GWSA figures.
only matter of time before the market cops on to this and re-rates...
big contract news to come... this is only heading one way once the nervous nellies are out!
Interesting how on the 24th November the SP rocketed only to get ESL to issue RNS, which helped bring it back down to a low position which helped them justify selling themselves and friends shares on the cheap and also helped keep the SP low to deliver a loss in today’s accounts. This has then helped the SP drop so they can pick up more shares on the cheap.
Bet tomorrow or next week the turnaround will be all over the press and the SP will go up with Dbay being the biggest winners, again!!
All IMO but seems like they know how to manipulate things to their advantage
I never post on these sites, due to a range of people commenting on stock without any knowledge of their background or interest in what they are stating. ElyGold and truthfactory you have made major statements on profit and debt and today been proven way off the mark. ElyGold you had your ass turned over earlier this morning by Nails and now you are clasping at straws. Truthfactory you made claims about 33m profit and no reduction in debt. They've made 50% more EBITA than you claimed and reduced debt by a third yet somehow you arrive at £100 million. Either you were wrong before or now, which one is it??
Don’t forget the “rns will report nothing” Ryon. He’s an absolute joker that gets kicks off this site. Think the opposite to what he says and your quids in!!
I think Nails just clarified a point earlier, and I’m grateful for that. Not sure it’s turning ones ass over. And not sure why everyone is down on anyone who dares to put forwards actual numbers to a point of view.
Anyone quoting profit figures and debt reduction numbers... the company you have shares in is LDG... they have a minority stake in a holding company of another holding company of a portfolio of businesses that have done really well in a short space of time. Namely because they weren’t actually doing badly in the first place, but a rout was engineered after acquisition interest in order to put the offer to bed, to ‘need’ to be rescued by the people that created this hugely long winded corporate structure 7 years ago that was never necessary, that has now assisted them in diluting the underlying assets and value of the company that you own shares in.
What is the actual performance of LDG? Not the sub company’s sub company’s portfolio of sub companies, but the actual company you invest in... those results... do you know how they’ve done since December 2019? Do you know the change to assets and liabilities and Nav and earnings per share and equity value per share of LDG?
Not wanting to hear about contracts that ES has engaged in that’s all brilliant but you don’t own ES... so how has your company done in all of this?
Exactly. Surprise surprise.
Oh forgot to add... and so in reappearing as knights in shining armour or at least ‘the best and only option for all involved’ (and with a very large stake in the company that’s now so quickly been taken from the gutter to the top) I wouldn’t be surprised to see a buy out of the company from the very same people who were interested previously only to sensibly withdraw to lack of forthcoming diligence information from ESL when it was requested.
How things have gone full circle. Only you’ve had the business ‘stolen’ from you in the process. Not stolen... legally re adjusted as a thank you for stepping in and saving LDG.
To be honest I was hoping for the RNS to be clear but having read through it a few times it's clear as mud, it seems clear that GWSA have turned things around and are now doing well, I will be reading the RNS again later though.
Truthfactory, there was a question in there that you are ignoring. Were the maths right this morning or this afternoon, you can't have both figures ending 100 million!
Despite your evident bitterness with this share, today's RNS was a positive for this stock. Can we not agree that things are better now than they were this morning irrespective of your opinion of their true value? I personally don't mind having a 49% stake in a business that's done very well in a short space of time and as we all know has a lot more contracts lined up.
ElyGold I'm afraid when you say 'Sorry I was saying that what you said makes sense. I was typing on the move which is why I was wrong' is an ass turning over!
I encourage you to do that please. I’m being sincere here. There is a reason you cannot make any sense of it and how it shows you the best of one thing but never the worst of another. This is a very technical calculated plan going back many years across changes of ownership. Don’t even ask how can it continue through those changes... there were linking pieces and people at all times. Very clever. Probably absolutely legal, but know what you own and what might happen next.
Okay then you’ve misread the chain of messages there. RNS positive for the stock? Did you see the reaction? The RNS was a positive spin on some positive things for the underlying portfolio of companies involved.
Can you tell me what positive messages came out of the RNS for the stock? (This stock. Your shareholding of LDG)
I see you’ve been a member here since Nov 2000 Ryno... were you also told about the upbeat earnings that would be announced and takeover of the business this year?
You will likely have done okay so far if you played it right. Consider picking apart the RNS in detail minutia... before you’re left scratching your head
Another typo 2020
It may pay to write off or write down a PIK loan, if your ownership has been originally structured in a way so to not be totally disadvantaged by it, knowing an acquisition would return a greater amount. Stab in the dark there in truth
Truth. I wonder if the GWSA accounts will be published which would probably hold the answer. Based on revenue if you brought the payment cycle from customers forward by 30days you could reduce debt by £65m just by being paid earlier
Accounts should be publicly accessible even if not ‘made’ publicly available... via companies house. But they don’t have to be filed for some time and things may have materially changed by the time you get sight.
As a shareholder in the investment company holding shares of a shell company holding shares of the holding company GWSA you should be able to get sight of them I would think. Track the other accounts of marcelos and LDG though to see where slippage occurs
Just caught up on the announcement. Clearly the market is slightly disappointed (though it’s an illiquid stock so hard to conclude much), which I can only imagine would be down to the lack of an announced corporate action. The interest in ES is performing well, surely better than expected. There are 2 mentions of the PIK notes in the announcement though the results only cover the period to Nov so they are coy about these.
Better value today than yesterday, certainly grown into its valuation. Still not screaming value though DBay will look for an exit at some point so there is a potential crystallization event that will underpin the price I think.
Furthermore, during the reporting year in a non-cash transaction, as part of the disposal of shares in GWSA, the Company novated and offset £53m of amounts owed by and to group undertakings. No material gain or loss was recognised as the intercompany receivables and payables have been written down to net nil as at November 2019 ahead of the disposal...
So Dbay loan LDG in return for 51% of GWSA. LDG then owe those funds into GWSA. But as it’s inter company both sides agree to write down to nil.
So no cash changed hands but Dbay got 51% of the shares of GWSA? And LDG pay 18% compounded quarterly up to 2025. Is that right??
Regarding PIK interest share it states that it was conditional upon achieving investment company status on AIM, and as of 30 Nov 2020 year end that hadn’t been completed so not shown any further.
Akin to the IOU’s set up with offshore trusts small businesses fell foul of over the last few years.
Dbay agrees to put money into GWSA
LDG bare that as a loan owed to Dbay in return for 51% of GWSA.
As it’s inter company the receipt into GWSA and debt standing at LDG is written down on accounts to balance out nil, but Dbay still get the 51% shares. And the 18% is still compounded and paid upon maturity at 2025 because it’s still a loan even though written down to nil for accounts purposes.
Elygold please tell me how you calculated a market cap of 360M at 20p share price ahahahahahahah