Member Info for Davius

Leisure & Gaming moved higher after a gambling investment fund showed up on its shareholder list with a 4.3 percent stake. Gordon Nelson Gaming was understood to have picked up the stock by subscribing to the group's share placing this month, which raised £1.75 million to develop its Italian bookmaking franchise. The news came as the European Union pressed governments in Greece, France and Sweden to open up their state-controlled gaming industries. Traders hope that European industry liberalisation will make Leisure & Gaming, up 1 1/4p to 14p, more attractive to one of its larger bookmaking peers.

You got that right, news out today and MMs marked the price up from the start. Staggering number of buys coming through but no further mark up yet, 4.4m buys agains 300k sells so far. 5-5.25p at present at 4-1. I'm surprised EVO (at 5.25p) have any left to sell.

I'd heard that hoodless had a recommendation but had not seen the report until you posted the link, thanks for that. I think a 60p valuation is realistic for 2 years time. The recent placing has raised funds for expansion, but the loss in May has hit the shares very hard and it will probably be a slow progression over the coming months. I sold over half of my holding below 16p on the way down but have no plans to offload the rest, or to buy more for that matter. As hoodless says, this is speculative, but I do think we'll be well rewarded in the medium to longer term. There's been some good buying today following the announcement of a 4.53% statke held by Gordon Nelson Gaming Inc and speculation that they might want to bid. I don't find this argument convincing though and will hold for organic growth.

Painful though the loss was, I'm sure you feel a little relieved if you've looked at the share price this morning, down another 26% on yesterdays close.

The problem I think, is that Barclays will own so much of the equity that they'll want to delist (and they've already said as much). You can see from a share like MOB what happens when a company announces a serious majority stake being held by a single investor and the desire to delist. I think of your 3 choices, BLNX are most likely to recover soonest, LNG for a long term strategy, and BFC alas, probably terminal.

Barclays will own 94% of the equity and take on 41% (£40m) of the £97m debt. That means existing shareholders will hold just 6% of a company that still has £47m of debt. The £40m Barclays are effectively paying puts a market cap of £42.55m, making the existing shareholdings worth £2.55m. However, despite the huge fall this morning the current cap is still £3.96m, a 35% premium over the effective Barclays buy in price. However, Barclays must consider this a viable business as there would be little point in making the debt for equity swap if it were unlikely to pay off. The problem for shareholders is that BFC plan to cancel their AIM listing if the restructuring deal is approved at the EGM in July, which may mean Barclays buying up remaining shares for a pittance.

Unfortunately not. AIM rules are different, but effectively the debts mean that Torex was in administration anyway. The banks have first call on the debt and since the sum to be received is not sufficient then they'll lose money too. Shareholders will get nothing. Perhaps the only good news is that the former chairman Christopher Moore, under investigation by the serious fraud office, held a 4.5% stake, so loses more than most.

Was hoping to read, out at 11p for a quick profit, Jonty! The news on the 11th ("in talks with a third party regarding a possible acquisition of certain assets") sent the shares up, but I think you'll need that talked about deal to go through to get these back into a decent profit. I think that the problem is how long 'due course' is going to be, could be tomorrow or in 6 months. What is annoying in these situations is that the news always get leaked, profiting those in the know at the cost of those buying in later.

Months probably. I would only expect a move on expansion news, takeover talk or perhaps the next results in September. Personally I just plan to leave my shares tucked away for a couple of years, with a 40p target by the end of 2008. My other 'significant' long term hold is TAN and that one I'll continue to trade as well. But LNG is a risky trade due to the liquidity. News could change that of course.

106K buys, 243K sells, with 50K odd unspecified delayed, but which look like sells. 1-1 on 43-47 at present. The service contract for Sampaguita, if and when it arrives, will probably result in a hefty recovery from these levels, but it's unclear when that will be: "Company has been working hard to convert the licence into a service contract. We have made substantial progress in our negotiations and hope to be awarded the contract in the near future." A poor SP performance today, only the concentration on Sampaguita and enough cash in the bank to 2009 offers encouragement.

150K after hours buy at 30.9p, 0.15p above the offer. 1.62m buys against 0.78m sells today (excluding the unidentified trades at mid). No idea what they'll do next week, it still depends on what expectation there is on the value of the GET SA shares.

Quite a recovery today. It looks like the offer will go unconditional and ETL holders will be offered conversion to GET SA shares with a deadline of next Friday (according to my broker).

Disagree with posters opinions by all means, but this is NOT advfn where you can get away with name calling with impunity.

The dilution is 18.84% and is to fund expansion as well as providing additional working capital. To May they made a loss of 0.3m, following adverse results that month. Assuming June runs a little below Jan-Apr (which is reasonable based on last year) then the half year results out in September should see a figure of between break even and a loss of 200K. The 1m suggested is clearly made up by someone desperate to knock the share. Concensus forecasts put them on a 2007 P/E of around 10.1 at the current SP, falling to 2.9 for 2008, although personally I think both of those figures are a little optimistic, particulary given the likely small loss in the first half of this year. However, the update at the AGM demonstrated very strong growth in turnover and profit (before the May exeptional anyway) and the saving of 1.5m earn-out payment for 2007 negates the effect of that bad month in any case. Opinion based on anything other than research and accounts is pure hearsay, making numbers up is simply misleading. I doubt the LNG share price will perform in the short term unless they have some very good gaming results or someone tries to buy them out. But as a long term speculation, then IF targets are met, or even half met, the share price should at least treble in the next couple of years. My advice, should anyone desire it, would be not to punt on this share, but tuck it away until 2008/2009.

Well it helped today, as the shares were down to 13p at one point and finished fractionally higher on some heavy buying. The placing was suspected, as they'd agreed at the AGM to effectively adjust the face value to 5p so that they could raise funds in this way if needed. I think in this case it does two things. Firstly it underpins the shares to a degree, typically they tend not to drift below the placing price, depending on the reason for the placing of course. Secondly, they aren't raising the money to get them out of a hole or cover losses, but to provide money for expansion via new products. Indcidentally, the broker downgrade was at the time of the AGM, when they annouced the loss in May due to the Milan win. I sold shedloads of shares on Monday but still felt nervous about my remaining holding. However, I'm now a lot more confident and will be happy to leave the rest mostly untouched for the next year or two. I think it should be a multibagger from the current levels in that timescale, but will review on each update and results release.

LNG just announced a placing of 13.5m shares at 13p to raise £1.75m. "The net proceeds of the placing will enable the Company to increase operational working capital and drive incremental growth by launching new products throughout the Betshop Italia network." SP has recovered on this news from a low of 13p a few minutes before the placing, to 13.75p now. Although I'm glad I sold over half of my holding a few days ago (ave 15.6p) I'm also pleased to remain in LNG as this should underpin the shares and any expansion must help to drive earnings.

Alas no, so it's pot luck I'm afraid. The good news is that Andrew Mullins also says they will be providing 'a full operations update' so we should have news on Coal Production, Sampaguita and their other interests. This is definitely speculative, if they've been awarded a service contract for Sampaguita then the share should really fly. Good income from coal production or a good drilling report from the Maya well should help too. The downside risk is not neglible though, no SC, poor coal related income and nothing new from drilling will have a serious effect, with many long term shareholders looking to bail I suspect. Personally, I think it's worth the risk and have been in FEP for many months in any case.

Don't confuse the face value of a share with it's value on the stock market. The consolidation of shares into 25p shares should not affect the capitalisation and hence the proportion of the company you hold. Typically they should remain at the equivalent of 31.5p. This kind of thing is usually for one of several reasons, but typically to increase the price per share to avoid a very low share price. LNG recently reorganised their shares to bring the nominal price down to below the current share price, so that they could consider fundraising (new shares cannot be issued at a market price less than the face value). You should not lose any value due to a share reorganisation.

I have just received an email from Forum Energy stating that their results and update are out next week, although they haven't specified on which day. The news should include an update on their major gas find and figures regarding coal production. Their broker expects a loss of £1.288m for 2006 but that should not make too much of a dent in the cash pile of £7.345m at the end of 2005 and turnover of around a quarter of a million should ramp up several fold this year as coal production increases. The prospect of confirmed licences and perhaps even progress towards a joint venture should see these head upwards rapidly. Recent problems of FEC (still a major shareholder) selling into any rise in the SP has kept them at a vast discount to prospective assets and prevented the share breaking out for several months. Good news next week will certainly see a substantial rise in the share price. Conversely if the company has wasted the last 6 months and made little progress then it will be another long wait for shareholders to see the company return to a sensible valuation. Expect some interest in the next few days and possibly significant share price swings. I think it's worth the punt and have topped up my long term holding at 59p today.

Two additional wells are now on stream pumping another 1000 barrels of oil per day between them and IEC reports drilling program ahead of schedule.