Are Land Of Leather going bust? - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HotUKDeals, you accept our cookie and privacy policy.
Get the HotUKDeals app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

Are Land Of Leather going bust?

£0.00 @
Looking at buying some shares and see they are at 2p? Is this good or bad? Read More
KINGROBTHEFIRST Avatar
8y, 6m agoPosted 8 years, 6 months ago
Looking at buying some shares and see they are at 2p? Is this good or bad?
KINGROBTHEFIRST Avatar
8y, 6m agoPosted 8 years, 6 months ago
Options

All Comments

(22) Jump to unreadPost a comment
Comments/page:
#1
baaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaad
#2
bad. Really bad.
#3
Worth a punt.
#4
at a time like this.. are you sure u want to be playing with shares? except if they are something related to debt collectors or something..!
#5
Titchimp
Worth a punt.


Not taking into account fee's, say i invest £1000. Even if they go up to 4p I've doubled my money. I've done a bit of research and they are debt free, have 6Million in the bank cash, and have a possible takeover imminent. These are all postives.
#6
dangerous games!

no shares are solid at the moment

cash in the bank at the best rate possible for the time being

EliTom
#7
KINGROBTHEFIRST
Not taking into account fee's, say i invest £1000. Even if they go up to 4p I've doubled my money. I've done a bit of research and they are debt free, have 6Million in the bank cash, and have a possible takeover imminent. These are all postives.


Like any gamble if you can afford to loose your stake then take teh punt :whistling:

but they could go belly up at any time

and don't forget that unless you have a first level broker you will not be able to sell at the best price

EliTom
#8
KINGROBTHEFIRST
Not taking into account fee's, say i invest £1000. Even if they go up to 4p I've doubled my money. I've done a bit of research and they are debt free, have 6Million in the bank cash, and have a possible takeover imminent. These are all postives.


If you can find someone to buy them off you.
#9
elitom;3836311

and don't forget that unless you have a first level broker you will not be able to sell at the best price

EliTom


eh? I didn't know that - I usually use the electronic dealy and set a target price, is there a better way to sell?
#10
And like elitom warns if they were all so positive and this takeover was all set wouldn't the share prices be a little higher than 2p?
#11
elitom
Like any gamble if you can afford to loose your stake then take teh punt :whistling:

but they could go belly up at any time

and don't forget that unless you have a first level broker you will not be able to sell at the best price

EliTom


Wise words, but its times like this there is money to be made. Its just making the right business decisions.
#12
The2020
And like elitom warns if they were all so positive and this takeover was all set wouldn't the share prices be a little higher than 2p?


I also found a statement to the london stock exchange with possible interest from Lloyds TSB dated 19th December. Its a waiting game.
#13
well mfi is gone, so surely land of leather has more customers now?
if you do invest £1000 and the 2p becomes 0 (i.e. land of leather goes bust), I believe you lose £1000.
if lloyds take over, i think that means the share price will go up too.
#14
Lehman Bros is trading at 0.03 - which basically pretty much sums it up

EPS for YR 7/08 was -.121 and anticipated EPS for 7/09 is -.116/ In other words they are bleeding ££. £5-6 million wont last very long in this environment

Takeover may wipe out equity especially if the liabilities outweigh assets which assuming upcoming rent payments use up some of that cash is most likely the case

Also book value as at July 08 was .01029 so basically half of the .0225 that it is currently trading for.

The book value was in July 08 and things have dramatically gotten worse for retailers since then so be warned....
#15
To follow up on your Lloyds TSB comment, most likely scenario is that Lloyds has one or several loans out to Land of Leather and is looking to protect its interests which means shareholders get a nice kick up the derriere...
#16
Bottom feeding is a great way to get your fingers badly burnt,,,Take care,,,
#17
Is 2.00 not £2?
Thats what the LSE is trading at :?
#18
£2 sounds about right given the info
#19
Hope they don't go bust before wednesday as just paid for my sofas today and they are coming wednesday:roll:
#20
The notice you mention is the one set out below - basically Lloyds reducing its holdings

Land of Leather Hdgs LAN Holding(s) in Company
2008-12-19 14:51:33.818 GMT

Land of Leather Hdgs LAN Holding(s) in Company

RNS Number : 5068K
Land of Leather Holdings plc
19 December 2008
*

19th*December 2008

Land of Leather Holdings plc

Holding(s) in Company

Land*of*Leather Holdings*plc, the*UK's only national retailer which
specialises in leather sofas,*has received the following notification of a
major interest in its shares.**

2.*Reason for the notification:****An acquisition or disposal of*voting
rights

3.*Full name of person(s) subject to the*notification obligation:*Lloyds
TSB Group Plc

4. Full name of shareholder(s) (if different*from 3):*Lloyds Bank (PEP)
Nominees Ltd / State Street Nominees Ltd

5. Date of the transaction (and date on*which the threshold was crossed or
reached if*different):*18th*December 2008

6. Date on which issuer notified:*19th*December 2008

7. Threshold(s) crossed or reached:*Fallen below 9%

8. Notified details

A: Voting rights attached to shares

Class/type of shares:****Ordinary*ten*pence*shares

Situation previous to the triggering transaction

Number of Shares:*3,261,088

Number of Voting Rights:*3,261,088

Resulting situation after the triggering transaction

Number of shares:*2,761,088

Number of voting rights*-*Direct:*

Number of voting rights -*Indirect:*2,761,088

% of voting rights*-*Direct:*

% of voting rights -*Indirect:*7.903

B: Financial Instruments:*-

Total (A+B)

Number of voting rights:*2,761,088

% of voting rights:*7.903

9. Chain of controlled undertakings through*which the voting rights and/or
the financial*instruments are effectively held,*if applicable:*20,111
Shares are held by Lloyds Bank (Pep) Nominees Ltd, a wholly owned
subsidiary of Lloyds TSB Bank Plc, a wholly owned subsidiary of Lloyds TSB
Group Plc /*2,740,977 Shares are held by State Street Nominees Ltd. Shares
are under the control of Scottish Widows Investment Partnership Ltd, a
wholly owned subsidiary of Scottish Widows Investment Partnership Group
Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly
owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of
Lloyds TSB Group Plc.

Proxy Voting

10. Name of the proxy holder:*-

11. Number of voting rights proxy holder*will cease to hold:****-

12. Date on which proxy holder will cease to hold voting rights:*-

13. Additional information:*

14. Contact name*of person(s) subject to*the notification
obligations:*Central Disclosure Unit

15. Contact telephone number:*+44 (0) 1444 418336

Enquires concerning this announcement can be directed to*Adrian
Goodenough, Company Secretary (Telephone 01474 322277 / Facsimile 01474
360428 / E-mail*[email protected])
#21
on bbc news ydy said they gone
#22

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!