Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Lakehouse – EGM requisition, I chat to Mark Slater who is driving for boardroom change

By Steve Moore

11 March 2016 01:50

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Having listed at 89p per share less than a year ago and updated in its December-published annual report that “the board remains confident of its expectations for the current year and the future”, shares in Lakehouse plc (LAKE) crashed on the back of a 1st February “Trading Statement” including that “the group now expects the financial outturn for the current year to fall short of its previous expectations and to see a reduction on last year's profit level”. Now Slater Investments and Steve Rawlings have requisitioned an EGM to remove the non-executive directors and replace them with Rawlings, Ric Piper and Robert Legget...

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Comments

David Russell

11 March 2016, 02:07

Bought into this one on the fall and at present in profit but worried if they raise more cash at a discount placing in the form of a concert party and forget small shareholders. The increase in the share price is hope and not fact. I have lost trust in all Aim companies but we will wait and see if they can turn it around with out a discounted placing.:(
alcira16247

14 March 2016, 09:17

Steve

Contrast the actions of probably one of the Nations finest Fund managers, Mr Mark Slater, with those of the hapless, hopeless and incompetent Tom Dobell of M&G Recovery Fund.

Whilst Mr Slater, safeguarding his funds investment in Lakeside, by demanding boardroom changes, to rectify what has been its pretty dismal beginning as a Public company. The intervention by Mr Slater has been welcomed by the market with the shares rising from 40 pence to over 53 pence, since the announcement and confidence in the company returning following Peel Hunt’s revised forecasts.

Of course, such proactive investing was well beyond the scope of the second rate Mr Dobell, not content in ‘investing’ nearly £40 million of the his funds money into the highly suspected fraud, Quindell, he compounded this stupidity by standing by and doing absolutely nothing, while the bestial Terry and cohorts, raped the company and its shareholders with the catalogue of worthless fraudulent companies bought off ‘mates’ proving effective ethical corporate governance was nil!

If only more fund managers would show similar guts as Mark Slater!