Member Info for tradeit

i know the share price was in the Doldrums prior to this potential offer, but an offer of 5p a share is outrageously low. The Net Assets in the 30/09/14 Accounts are 49p a share. So Hanafins offer is 90% less than the Audited Accounts say the business is worth. Thats before adding the enterprise value of the ongoing business. Its a stitch up at this price and its the duty of the independent Directors to fight for a fair value for our shares.

Sorry second line should read Invoiced not involved.

A key figure in the accounts. Trade receivables increased from £3.04 m to £5.81m. That, I think is the value of work completed and involved at year end. This will be converted into cash in the short to medium term. Meanwhile accrued income (work done on projects not yet completed) fell from £19m to £14m. This is the figure we have all been concerned about, so this reduction ie conversion to receivables is hugely significant. Once the receivables are collected I can see the cash balance increasing by at least £2.8m to over £6m, easily enough spare cash to pay off the CULS in December

5.8p per share that is!

Thanks Dave, That means there is still 5.8p in cash even after the 2014 Bonds are repaid.

Hi all, Can anyone clarify the cash position posted in the latest RNS? A trading statement in April stated the company had cash of £5.3m The latest RNS says £2.2m and refers to a bond repayment due in 2014 of £2.5m. Has the Company burnt £0.6m or £3.1m since April. I don't think the RNS is very clear. Thanks

I think your NAV was taken from the latest published accounts @ 138.99p. It looks to me that at that stage the Lancasters was valued ay £40m in NTA's Balance Sheet. Last Fridays RNS ups this figure by £10m or 35p per share. So i reckon NAV is around 174p. With a potentially £32m in cash after all debts are repaid.

First six months profit is published at £1.795m. Second half costs have been reduced by £4.985m (Given in first half report). So if the continuing business trades at the same level as in the first half . Annual profits should be around £6.7m. compared with a capitalisation of under £9m

Please read the financials in more detail and you will see that the profit is stated after absorbing costs of £4.5m associated with the 3D business which was sold for £1.799m. There were other one off costs of £0.485m. Therefore to arrive at the underlying profit going forward, you need to add £4.985m of discontinued costs, and deduct the £1.799 profit from the sale of 3D. ie a further profit of over £3 million.

Just bought some @9.5p. I would expect that any take out price would have to be agreed by the non executive directors. As a director recently sold out at 35p its hard to see how they could value the shares at less than this price. At 10p the entire company is valued at around £3.3 million. This is a P/E of less than 0.5 as the underlying profits of this part of the group (ex the loss making bit that was sold off) were £7 million last year.

The trading update issued today confirms a strong performance in all divisions. Share price up 10p today with more to come i think.

These Interim results to 31/08/10 really start to show the potential of this share. Net Asset Value has increased to 101.54p. Up from 37p at 28/02/10 year end. This increase is based on "secured sales" @ 31/08/2010. What is not clear is how secured sales relates to the 55% presales mentioned in the Chairmans statement. presumably £20.461m available for sale financial assets listed in the Balance Sheet represents significantly less than 55%. If this is the case this share has huge upside potential.

Anyone know whether the divi will be maintained on the higher share capital