Evil Diaries: Keep JOGging along
I am not certain that the snippet from Saturday’s Times is not intended to mislead in a jocular manner – it was 1st April – but, apparently, Jeremy Corbyn is lining up to stand at the next general election as an independent and as leader of a new party. This development has not yet got a name, so I offer GOAL. This is snappy and sporting. But it also stands for Group Of Abject Losers. And there are at least two million of them lining up for the slaughter.
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Jersey Oil and Gas (JOG) have seemingly arranged the finance for their North Sea efforts. On Friday the shares advanced from 150p to 240p. It might not stop there. My original target price was £10. Some would claim that this is pretty ambitious and I accept that they may be right. But I certainly would not sell yet.
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Logistics Development Group (LDG) announced their latest results on Friday. It is all very slow but extremely encouraging. Keep buying at 16p or better.
The London Stock Exchange page for LDG lists http://eddiestobart.com/ on the ‘Our Story’ page; this seems to be at odds where you say assets are ‘all cash’, so what is the connection, please?
Looking at the LDG website, I see several investments have been made:
21 March 2023
LDG is pleased to announce that, further to its announcement on 23 February 2023,
it has purchased an additional 10,160,766 ordinary shares in Alliance Pharma plc
(“Alliance”) (LON:APH), at an average price of £0.6683 per ordinary share, for a
total cash consideration of £6,790,805.
Following these purchases, LDG is interested in 28,966,354 Alliance ordinary shares,
representing approximately 5.36% of Alliance’s issued share capital.
On 1 December 2022, LDG notified an investment of €18.5m (c.£15.9m) into Synsion TopCo Ltd (“Synsion Topco“), the private holding company of a group of companies (the “Synsion Group“) formed by DBAY Advisors Limited (“DBAY“), the Company’s investment manager, specifically to invest in SQLI S.A. (ENXTPA:SQI) (“SQLI“) (the “Investment“), a leading pan-European digital transformation business. The Investment has been utilised by the Synsion Group to acquire an additional stake in SQLI at €44.25 per share and has increased the Synsion Group’s holding in SQLI by 9% to 81.3%.
25 October 2022
LDG is pleased to announce that, further to its announcement on 18 October 2022, it has acquired a further 1,250,000 ordinary shares in Finsbury Food Group plc (“Finsbury”) (LON:FIF) at an average price of £0.86 per ordinary share, for a total cash consideration of £1,073,500.
Following these purchases, LDG is interested in 10,082,000 ordinary shares in Finsbury, representing approximately 7.73% of Finsbury’s issued share capital.
For the 53 weeks period ending 2 July 2022 Finsbury reported a pre-tax profit of £17.0 million. As at, 31 December 2021, Finsbury reported net assets of £113.9 million.
The share buy-backs continue and LDG now has around 14.1p per share.