Nice to Michu
26 Sep 2016
A roller coaster ride here for sure but volatility is often the nature of such troubled/turnaround stocks .. unless there's rumour news about that I've missed?I'm not tempted to add here but this remains a hold and longterm bet for me.. if it goes back into the 20's without new news I might do a small top up..
Nice to Michu
11 Aug 2016
They say profit warnings come in threes and we've had the three here now. And the last one involved some kitchen sinking, I believe.Also Bob Holt seems like the real deal. I fancy this as a good turn around play and have been involved since late 20's p and am still topping up now and will continue to incrementally do so up to 40p and am then open to holding for the medium term..Good luck to all holders
barno99
25 Jul 2016
Nice steady rise today I always like to see a slow steadyRise in a share..Not much newspaper coverage so hence the small but steady upward shift.This momentum should persist as bob gets to work and things start moving..
paddington_bear
25 Jul 2016
Sad news today Distressing RNS today that our major shareholder has died.I hope that he was sufficiently compos mentis to realise the rescue mission for his company is underway, so his legacy may flourish in the years ahead. At least he went peacefully and with his family, which is a departure scenario that many people would wish.PB.
knowidea
23 Jul 2016
Re: Bob Holt to turn around Lakehouse Good man to recrute. Have purchased a few of these based not only this news but also by the fact that they are in early talks about utilising a company that may bring down there costs by significant amounts in the future. KI.
barno99
22 Jul 2016
Peel Hunt 50p target [link]
barno99
22 Jul 2016
Re: Bob Holt to turn around Lakehouse There will be a major shake of the tree at Lakehouse now..Bob takes no prisoners and will want and achieve his bonus at a share price of 98p.Watch for the rapid share price turnaround with 50p a short term aim now..When this hits the papers tomorrow the blue touch paper will certainly be well and truly lit..
Happy Cossack
22 Jul 2016
Bob Holt to turn around Lakehouse Extract taken from Article in Construction Enquirer"Lakehouse is drafting in Bob Holt to try and turnaround the company’s fortunes.Holt was the driving force behind rival Mears and is still non-executive chairman of the company.Lakehouse has faced a tumultuous year of profits warnings, boardroom coups and senior management changes.The company said: “The Board believes that the Group requires experienced executive leadership to navigate the business through the current challenging market conditions whilst also setting a clear strategic direction for the Group over the medium term.“The Board of Lakehouse believes that Mr Holt’s expertise and background in the support services industry, in particular his knowledge, considerable experience of and reputation in the sector in which the Company’s principal business operates and his track record of turning around underperforming companies, will be invaluable to the Group going forward.”Lakehouse will ask shareholders to agree Holt’s appointment as Executive Chairman at a meeting next month.Holt will continue in his current role at Mears and will be paid £225,000 a year by Lakehouse in salary and consultancy fees.Holt will also receive 2,307,692 Lakehouse share on joining and a bonus share pot worth more than £4m if the company passes a share price target of 98.4p by January 2019.The company’s current share price is 23.5p having floated last year at 89p.Robert Legget, Senior Independent Non-Executive Director and Acting Chairman of the Remuneration Committee of Lakehouse said: “We are delighted that we have attracted a very senior candidate of the calibre of Bob Holt. “He is a sector specialist, has a proven track record of operational expertise and is expected to be key to helping Lakehouse restore value to our shareholders. “We are confident shareholders will recognise his potential positive contribution and support his appointment.”Holt said: “I’m delighted to be joining the Board of Lakehouse and believe that my experience in the areas in which the Group operates will be of benefit. “The Board is committed to return significant shareholder value and I look forward to working with the team to deliver that strategy.”"
IOMINVESTCOM
22 Jul 2016
New Boss in charge - Great appointment nm
Ripley94
19 Jul 2016
From other alert IPO March 15.56m capmotley fool here 23 may 15 "poor pick."
paddington_bear
17 May 2016
Sprung a leak, making for shore The long awaited half year results were a touch worse than anticipated at PBT - £1.8m , compared to last full year of + £3.2m. Hopefully the present reorganisation has included a kitchen sink exercise and no more surprise holes appear. The spending spree turned the cash balance into a negative £20m+, put on the company "credit card".To be fair, the contributions from these acquisitions seem to have been positive despite short periods of ownership and there seem genuine opportunities for future cross- selling.The market reaction was typical and shares dropped by half iniitially to 24p, however a period of perhaps 18 months may restore some stability and value. Certainly the order book is growing significantly, number of possible deals and new clients increasing, best practice efficiencies underway and management are beginning to integrate and benefit from the recent complementary deals.There are a lot of egos and reputations on the line here and the commencement of interim dividends (1p) to add to the fiinal of 1.9p cannot have been an easy decision. Obviously the sooner a quality CEO can be found, the quicker the recovery can proceed. Pending further news, a hold for me. DYOR PB
paddington_bear
03 May 2016
Punt into the lakehouse In the lull before appointment of a CEO to replace Black and the downgraded last set of results, the positives from my review seem to outweigh the negatives. The company went public without a debt overhang or avaricious private equity selling out.Initial results were pleasing and in line with those promised at IPO.The company has a long successful record which includes sticky economic patches and went straight to LSE main market.The thin margins are a reflection of the type of company.There is nothing wrong with adding complementary new firms, however IPO funds and a new debt facility shouldn't spark a raid on the sweetie shop.The whole picture of why the founder and Mr Slater got so involved in this situation may never be known publicly, but the wholesale clear out of the hierarchy at least permits the new arrivals to set course in their own directionPeel Hunt is suggesting profits dipped, not eliminated..Original concept of circa 6% yield much cheaper at nearly halved SP.All in all, worth a punt unless further serious adverse news. DYORPB
1hillhead
01 Apr 2016
Mark Slater & Steve Rawlings Article on Investegate[link] present BoD’s have been naïve/silly making statements when they came to market which have been totally inaccurate and even 6/7 weeks before they announced the profit warning they said everything was still on track. So how can we believe anything that the present BoD’s are telling us?IMO Slater and Co are investors and will want to create value which is beneficial to all shareholders.My guess is that other major shareholders will want the same and support the actions to remove NED’s and I wouldn’t be surprised if the other major shareholders have already given support to the present action. At this stage I support the Slater intervention because of the reasons mentioned above and the present BoD’s have loss credibility and that is the main reason why we saw the SP drop from around 90p to 35p and the City will take any future earnings forecasts off these guys with a very large pinch of salt!
IOMINVESTCOM
22 Mar 2016
Paul Scott's view Lakehouse (LON:LAKE)(at the time of writing, I hold a long position in this share)Management of Lakehouse (LON:LAKE) (CEO Stuart Black, and CFO Jeremy Simpson) came along and gave a presentation, and fielded questions in a lively Q&A session. I think they deserve great credit for coming along to speak to investors in such difficult circumstances - the founder has teamed up with Slater Investments to call an EGM to oust the NEDs, so this was a hot topic of discussion last night.As I pointed out to the CEO, Slater Investments are a highly respected firm, so if they want to oust NEDs, then something really must be up. I thought the response was excellent actually - as they pointed out, there's no way that the company (or other shareholders) can possibly accept an attempt to oust independent NEDs, and replace them with appointees of two shareholders. The whole point of NEDs is that they're independent, and can't be appointees of particular shareholders. That's a totally valid point, which I accepted.There's definitely a concern that the company is racking up heavy costs with advisers, dealing with the board room issues. So I hope this is dealt with quickly, and sensibly. It's certainly a major distraction for everyone, and has got to be sorted out.Overall I thought the Directors didn't come over particularly well - mainly because the session was being filmed, and I think this made them clam up - there were clearly things they wanted to say, but couldn't. So I think most of us felt a bit mystified & frustrated by what's going on at the company, and that we've only been told part of the story.That said, there were some useful snippets in the discussion, and I sat next to the CEO over dinner, and had a good chat with him. We discussed how the city firms tend to float companies with large, lumpy shareholdings placed with Institutions, in order to earn their huge fees for as little work as possible. The trouble is, this then leaves a poor shareholding structure, with inadequate market liquidity.So newly floated companies have to court a private investor following, in order to generate some liquidity in the share. It would be far better if a private shareholder base could be included within the original float for all companies.The CEO indicated that the share price had crashed so heavily on the recent profit warning because one Institution dumped their entire holding on the day.The Directors sounded pretty confident about the updated forecasts out in the market, as indeed they have confirmed in a recent RNS. Whilst the forecasts are from their broker, the CFO confirmed that of course the broker has extensive discussions with the company, and is given a steer on key facts & figures by the company, as you would expect - that's the same everywhere.As John McArthur of Tracsis said a while back at a presentation, the house broker forecasts for all companies are really the company's own forecasts.Overall, I felt that the presentation improved from being a car crash early on, to being OK by the middle-end. I think it was probably a mistake to have it filmed, as that just caused the Directors to clam up. It's usually great to have events filmed, where there is nothing contentious going on.I feel that the Directors have perhaps been overwhelmed by events recently, but they struck me as fundamentally decent people, and it's really good that they're getting out & about, and talking to private investors, and of course facing sometimes hostile & sceptical questioning. So that is admirable.As I've mentioned before, if LAKE does hit this year's forecasts, then the shares will be dirt cheap. Although you can't rule out more problems emerging, as we still don't really know what's at the bottom of the EGM requisition. So I'm just hoping that there won't be more problems that surface.- See more at: [link]
IOMINVESTCOM
09 Mar 2016
Mark Slater leads shareholder revolt at Lakehouse [link]
