Member Info for EdwardSeaton

Wasn't me.

I blocked him weeks ago, but can't avoid reading all the completely pointless responses he still gets.

Sadly, far too many people have fallen into his trap and endlessly try and respond to him, ruinIng this board in the process

Christ alive, guys. 33 comments today (and counting), without a single bit of company news being added.

Is the madness infectious?

I suppose to be fair, when saying 'terrible management', one is saying (quite specifically) terrible at doing things that would lead to the share price reflecting the fundamentals of the company.

Bur I'm not sure it is correct to say they are terrible at making the company profitable, because it is more profitable than some companies in the FTSE100.

And I must add that Thungela, which communicates superbly, and also pays extraordinary dividends, is almost as insanely cheap.

Ultimately, if this was a tech company, those numbers would be worth hundreds of millions of pounds.

Profit £26m

Cash and shares £24m

Market Cap £15m

However ineptly the directors of the company might present their story to the outside world, this remains endlessly amusing.

Guys - can you not see that by allowing this clown to entirely dominate this chat, you are giving him what he wants?

I blocked him last week, and I can assure you he is not missed. My only regret is that I can't avoid the endless responses from the rest of us.

To get rid of southcoastbather, all you have to do is select Filters above, and enter his 'name'.

If he responds to this post, I will not see it. Very cathartic.

I actually think they paid too much dividend last year, and raised expectations such that they could only disappoint onwards.

Why is this so cheap? Absolutely no idea.

But I think we are incredibly lucky to be able to but at 550 rather than 2000. As a monthly buyer, I'm more than happy for it to languish down here for the forseeable future, and kick out a 30%+ dividend in the meantime.

They didn't release interims and declare a dividend until 15th August last year. Why do you expect it to be so much earlier this year, Dark Knight?

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.

Yes. They couldn't not pay the dividend, and say nothing.

May I suggest you change platform...

Whoever the person is that sat on this share at 119p for the last month and then sold for 99p this morning is an uncontested winner of the 'Moron of the Year 2023' competition.

I don't see it as bad news in any way. The only reason to have held this share post offer was the expectation of a higher bid.

Anyone happy with 120p could just take it.

The reason why acceptance has been so low is that many think the offer undervalues the company.

I agree with them.

This has been openly in news for over a month - they have been issuing regular updates on the acceptance level via Live RNS.

Acceptance is low because shareholders expect more.

The beginning and end of it is:

'During the year the Group’s non-current investments held at fair value through profit and loss increased from £3.6million in 2021 to £12.6million due to net additions during the year of £8.2million (2021: £1.2million) and gains from investments of £0.7million (2021: £0.7million). The investments comprise of £6.8million (2021: £1.56million) of investments listed on stock exchanges in the United Kingdom and £5.8million (2021: £2.07million) of investments listed on overseas stock exchanges. The Group’s listed investments are primarily in entities involved in extractive and energy related (including renewable energy) business activities.'

It was one of the points I raised with AH - a third of their Net Assets are only vaguely described. He seemed reticent about the amount of detail they are allowed to publicise (I guess because Bisichi is not an investment fund), but acknowledged that greater clarity could and should be given.

This is a perfect example of the sort of thing Bisichi could do at zero cost that would transform the appeal of their shares.

As much as I despise Mission Statements, I think this is a rare example of where a clear 'This is what we are trying to do' statement would be much appreciated.

A new subspecies has formally been indentified - the 'spitting ramper'.

It looks to me as if there is currently only a 30% acceptance of this offer from shareholders?

I'm not saying I don't post comments, swell. Nor that anyone else shouldn't.

I'm just saying that GKP attracts an incredible number every day, both in relation to its size, and the fact that for months and months, absolutely nothing has actually happened. 20 odd comments a day about what is essentially a dormant company.

....says Terry, the man sent amongst us to strike down those he describes as 'rampers'.