Duyuru • Nov 20
Leeds Group Proposes to Cancel the Admission of the Ordinary Shares of the Company to Trading on AIM and to Re-Register the Company as A Private Company Leeds Group plc announced that it is proposing to cancel the admission of the Ordinary Shares of the Company to trading on AIM and to re-register the Company as a private company. On 27 March 2024, Leeds Group announced that the sale of Hemmers-Itex Textil Import Export GmbH (''Hemmers''), previously the main operating subsidiary of the Group, had been completed. The cash consideration of £501,000 was based on the net book value of the assets of Hemmers, excluding its three properties, less an agreed discount. The Group retained the three properties, through its subsidiary company Leeds Group Nordhorn Property GmbH (''LG Nordhorn''), and secured an agreement with Hemmers to lease all three of the properties. However, Hemmers has recently given notice on one of the properties, effective 30 November 2024, and this property is now being marketed for rental. Following the sale, Leeds Group was considered to be an AIM Rule 15 cash shell as it no longer had any substantial trading activities. Under the AIM Rules, the Company had six months from the date of sale to either make an acquisition, which would constitute a reverse takeover under Rule 14 of the AIM Rules or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which its shares would then be suspended from trading on AIM pursuant to Rule 40 of the AIM Rules. As previously communicated, the Company has not been able to meet these requirements and therefore the Ordinary Shares were suspended from trading on the AIM market on 30 September 2024. Once suspended, the Ordinary Shares cannot be traded on the AIM market. The Ordinary Shares will be automatically cancelled from admission to the AIM market six months from the date of suspension, should the reason for the suspension not have been rectified. The Directors have, after a period of review, concluded that it is in the best interests of the Company and its Shareholders to seek Shareholder approval for the cancellation of the Admission and for the Company to be re-registered as a private limited company. In accordance with Rule 41 of the AIM Rules, the Company has noti?ed the London Stock Exchange of the date of the proposed Cancellation. As part of the above review, the Directors considered the Company's small capital base, the lack of liquidity in the trading of its Ordinary Shares on AIM and its limited activities (being the ownership and rental of three commercial properties in Germany following the completion of the disposal of Hemmers in March 2024). The Company is seeking Shareholders' approval for the Cancellation and Re-registration at an EGM, which has been convened for 11.00 a.m. on 11 December 2024 at the Radisson Blu Hotel, Manchester Airport, M30 3RA. If the Cancellation Resolution is passed at the EGM, it is anticipated that the Cancellation will become effective at 7.00 a.m. on 19 December 2024. The Cancellation Resolution is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the EGM in respect of the Cancellation Resolution and, accordingly, the Cancellation Resolution will be proposed as a special resolution. Under the Companies Act, the Re-registration and the adoption of the New Articles must be approved by not less than 75% of votes cast by Shareholders at the EGM in respect of the Re-registration Resolution and, accordingly, the Re-registration Resolution will also be proposed as a special resolution. Duyuru • Nov 04
Leeds Group plc Announces Directorate Change Leeds Group plc announced that Mr. Jan G Holmstrom has informed the Board that he will step down after 13 years as Non-executive Chairman and director of the Company following the AGM on 20 November 2024. The Board of Leeds intends to appoint Johan Claesson to take over as Non-executive Chairman in his place. Reported Earnings • Oct 23
Full year 2024 earnings released: EPS: UK£0.14 (vs UK£0.028 loss in FY 2023) Full year 2024 results: EPS: UK£0.14 (up from UK£0.028 loss in FY 2023). Net loss: UK£413.0k (loss narrowed 46% from FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Duyuru • Oct 22
Leeds Group plc, Annual General Meeting, Nov 20, 2024 Leeds Group plc, Annual General Meeting, Nov 20, 2024. Location: the radisson blu hotel, chicago avenue, manchester airport, m30 3ra, United Kingdom New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended November 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (UK£1.78m market cap, or US$2.33m). Minor Risks Latest financial reports are more than 6 months old (reported November 2023 fiscal period end). Share price has been volatile over the past 3 months (7.8% average weekly change). Duyuru • Mar 27
Waterside A62. Vermögensverwaltungsgesellschaft mbH completed the acquisition of Hemmers Itex Textil Import Export GmbH from Leeds Group plc (AIM:LDSG). Waterside A62. Vermögensverwaltungsgesellschaft mbH entered into a share purchase agreement to acquire Hemmers Itex Textil Import Export GmbH from Leeds Group plc (AIM:LDSG) for £0.66 million on December 14, 2023. The consideration is based on the net assets of Hemmers as at 30 November 2023, excluding properties, less an agreed discount. Leeds will retain three properties currently owned by Hemmers which have an aggregate net book value of £5,209,000. Completion of the Proposed Sale is conditional upon certain closing conditions, including (amongst others) the approval of the Resolution at the General Meeting and competition clearance by the German Cartel Office which is expected to take approximately 4 to 6 weeks and the transaction is expected to close by January 31, 2024. As on January 9, 2024, at the General Meeting held the Leeds Group shareholders made a resolution in relation to the Proposed Sale of Hemmers, was duly passed. Sandy Jamieson, Liam Murray of Cairn Financial Advisers LLP acted as financial advisor to Leeds Group in this transaction.
Waterside A62. Vermögensverwaltungsgesellschaft mbH completed the acquisition of Hemmers Itex Textil Import Export GmbH from Leeds Group plc (AIM:LDSG) on March 25, 2024. Reported Earnings • Mar 01
First half 2024 earnings released: UK£0.18 loss per share (vs UK£0.004 loss in 1H 2023) First half 2024 results: UK£0.18 loss per share (further deteriorated from UK£0.004 loss in 1H 2023). Revenue: UK£11.0m (down 29% from 1H 2023). Net loss: UK£5.02m (loss widened UK£4.91m from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 25
Full year 2023 earnings released: UK£0.031 loss per share (vs UK£0.12 loss in FY 2022) Full year 2023 results: UK£0.031 loss per share (improved from UK£0.12 loss in FY 2022). Revenue: UK£24.3m (down 18% from FY 2022). Net loss: UK£761.0k (loss narrowed 77% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Duyuru • Oct 24
Leeds Group plc, Annual General Meeting, Nov 22, 2023 Leeds Group plc, Annual General Meeting, Nov 22, 2023, at 14:15 Coordinated Universal Time. Location: Radisson Blu Hotel, Chicago Avenue Manchester Airport, M30 3RA Manchaster United Kingdom New Risk • Jul 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended November 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Market cap is less than US$10m (UK£3.42m market cap, or US$4.39m). Minor Risk Latest financial reports are more than 6 months old (reported November 2022 fiscal period end). Reported Earnings • Jan 24
First half 2023 earnings released: UK£0.004 loss per share (vs UK£0.018 loss in 1H 2022) First half 2023 results: UK£0.004 loss per share (improved from UK£0.018 loss in 1H 2022). Revenue: UK£15.6m (flat on 1H 2022). Net loss: UK£111.0k (loss narrowed 77% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Duyuru • Dec 21
Jörg Hemmers to Step Down as Executive Director of Leeds Group plc, Effective from 1 January 2023 Leeds Group plc announces that Mr. Jörg Hemmers has informed the Board that he will step down from his position as Executive Director of the Company on 1 January 2023. He will remain as a full time executive director of the Company's subsidiary, Hemmers-Itex Textil Import Export GmbH, and Hemmers' subsidiary, Stoff-Ideen-KMR GmbH. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Dave Cooper was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 09
Full year 2022 earnings released: UK£0.12 loss per share (vs UK£0.017 loss in FY 2021) Full year 2022 results: UK£0.12 loss per share (further deteriorated from UK£0.017 loss in FY 2021). Revenue: UK£29.6m (down 10% from FY 2021). Net loss: UK£3.25m (loss widened UK£2.78m from FY 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 3% per year. Duyuru • Nov 09
Leeds Group plc, Annual General Meeting, Nov 30, 2022 Leeds Group plc, Annual General Meeting, Nov 30, 2022, at 12:00 Coordinated Universal Time. Location: Radisson Blu Hotel, Chicago Avenue Manchester Airport Manchester United Kingdom Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Dave Cooper was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 18
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: UK£0.018 loss per share (down from UK£0.027 profit in 1H 2021). Revenue: UK£15.6m (down 22% from 1H 2021). Net loss: UK£487.0k (down 166% from profit in 1H 2021). Revenue missed analyst estimates by 7.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Reported Earnings • Oct 19
Full year 2021 earnings released: UK£0.017 loss per share (vs UK£0.074 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: UK£33.0m (down 5.9% from FY 2020). Net loss: UK£466.0k (loss narrowed 77% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 13
New 90-day high: UK£0.28 The company is up 49% from its price of UK£0.18 on 11 December 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 15% over the same period. Reported Earnings • Jan 16
First half 2021 earnings released: EPS UK£0.027 The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£20.0m (up 7.3% from 1H 2020). Net income: UK£735.0k (up UK£1.45m from 1H 2020). Profit margin: 3.7% (up from net loss in 1H 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 81% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 15
New 90-day high: UK£0.26 The company is up 132% from its price of UK£0.11 on 16 October 2020. The British market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 32% over the same period. Duyuru • Nov 24
Leeds Group plc, Annual General Meeting, Nov 23, 2020 Leeds Group plc, Annual General Meeting, Nov 23, 2020. Reported Earnings • Oct 22
Full year earnings released - UK£0.074 loss per share Over the last 12 months the company has reported total losses of UK£2.02m, with losses widening by 55% from the prior year. Total revenue was UK£35.1m over the last 12 months, down 15% from the prior year.