Member Info for MikeF

a couple of Director buys significantly higher than current sp by the CEO which shows great confidence IMHO: 22-Dec-09 Buy David Roy Macmillan 26 GBX 67,956 138000 18-Dec-09 Buy David Roy Macmillan 25 GBX 70,044 70044 I feel te price has been slipping due to the lack of news since December but now the company is extremely undervalued IMHO. NAV of £12.5M and cash of £2.1M with market cap being a measly £4M!! All IMHO & DYOR. GLA

Howard Bell, Chairman, commented: "Given that the new management team was appointed part way through the period, I am delighted with the pace at which the team has got to grips with the issues facing the company. Good progress has been made on cash collection and cost reduction, whilst the value of work won has also grown despite significant steps being taken to shift our customer acquisition model away from advertising, to one built upon a foundation of strong business-to-business relationships. It will take time for management actions to flow through fully to the bottom line, and as a consequence, the business made a loss in the period before one off costs. Market conditions in the personal and corporate markets remain favourable for our business and we expect demand for both our formal and informal personal debt solutions and our corporate insolvency and turnaround services to remain healthy."

Cash Generation Operating cash inflow of £1.0m after one off costs (6 months to September 2008: outflow £0.7m). Strong cash position with a cash balance of £2.1m (31 March 2008: £1.6m) plus additional bank overdraft facilities of £0.95m. Work won Work won in the period increased by 16% to £3.2m (6 months to 30 September 2008: £2.8m). Broadening of the distribution channels with 64% of work won generated from business to business channels (6 months to 30 September 2008: 54%). Profit Adjusted operating loss before one off costs of £0.3m (6 months to 30 September 2008: profit £0.6m) as a result of lower revenue contribution from the back book and lag in the financial impact of successful actions taken during the period to reduce costs. Operating Highlights Experienced leadership team now in place to deliver the strategy Group now marketed under a single brand across the UK Transition from advertising-led customer acquisition to business-to-business distribution progressing well Geographic diversification starting to show through in new work won with 29% of business now coming from England creating a stronger base for future growth

Been watching this share for a while and believe at this price this offers great value... The company has a Net Asset Value of £12.5M and cash in the bank of £2.1M and the market cap is only £4M at current price!

Good start to this morning! Spread has been reduced and already 21% up... news on the cards? GLA

http://www.investegate.co.uk/Article.aspx?id=201005121629598121L

Anyone have a view on the news this morning? Didn't think there would be any need for working capital anymore... at least there is no issue of shares and they can pay the loan back when funds permit... This statement in the RNS gives me a little more confidence though: 'The Directors believe that the Group is well placed to continue to enhance the brand and is in discussions for the Company to move into other areas of support services under the Legion Group name. As such, the bridging finance is expected to be repaid in the short term.' Shouldn't have to wait too long for results now. GLA

Buy of 133,592 just below mid... good to see, couple more and we'll be up again... GLA

I agree, i believe these levels present a great buying opportunity... GLA

My take on things: Legion Group (formally SectorGuard) have made significant changes over the past year starting with the integration of Legion Group. On the 30th March General Sir Mike Jackson was appointed as Non Executive Director and with his experience and knowledge can see fantastic benefits to his appointment. The RNS released on the 6th October was of particular interest to me when the company announced that new contract wins with an order book value of £17.25 million had been confirmed in the four month period with clients such as DTZ, Premier Foods, Wellcome Trust and Lloyds Register. The combined order book value of the business was in excess of £155 million! The interim results on the 27th November were very good but were dampened by a placing at 1.88p in which Stephen Thomas, non-executive Chairman, subscribed for 5,319,148 shares. Also on the 21st December Stephen Thomas bought another 350,000 shares on the open market which showed great confidence IMHO. Now the sp is below both the placing price and the recent director purchase price I see this as a very good level to be buying at… The most recent RNS that the company has sold its CCTV contracts to concentrate on further growing its core activity of providing security personnel enables them to pay off the outstanding balance relating to the £4 million, five year term loan originally taken out in March 2008 to facilitate the acquisition of Manguard plc. Now the company is in a very strong position with an annual turnover of around £60M currently which the company is looking to expand on I can only see good upside here (especially from current levels). Funding doesn’t look an issue anymore as the company is cash generative so further placing should not be necessary therefore I can only see great appreciation from current levels over the coming months/years. All IMHO & DYOR. GLA

Just topped up again @ 1.4p... silly cheap! GLA

Where do you see the buys? Didn't know you were invested in here! Cheap at current levels IMHO. GL

http://www.hemscott.com/companies/company-summary.do?companyId=4359

Friday was a very bad day all round, most stocks were in the red, i thnk my pf actually showed 2 blue and i watch quite a few lol. Hoping this can recover some ground this week... market cap now under £10M which is crazy IMHO. This should be trading above 2p...

No, nothing to be worried about, just a full research report. Didn't know whether it contained anything of any interest... Hope to see this bounce back next week. Yesterday was a shocking day all round... GLA

great time to pick up a bargain IMHO. GLA

Another 442k just in... should see a tick up soon. GLA

good to see a buy in already! Hope we get another blue day today... no results as yet, maybe they will turn up around lunchtime or possibly Monday? GLA

Don't suppose anyone has downloaded this have they? http://www.docstoc.com/docs/36170029/Legion-Group-Plc

Hope to see us bounce of of this level and back around 2p... anything under 2p is cheap IMHO. Been invested in here since results in November and added again today on the drop. Undervalued at current price, last figures were very promising and show the turnaround the company has made: Turnover of £31.2 million (6 months ended 30 September 2008: £15.3 million) Gross profit of £5.1 million (6 months ended 30 September 2008: £2.7 million) EBITDA of £1.4m (6 months ended 30 September 2008: £0.6m) Profit before taxation of £964,000 (six months ended 30 September 2008: £129,000) Acquired and integrated the contracts of Craft Services Group Non-recurring costs in period of £560,000