any holders, page-2

Yes, I hold this and have followed since 2004. Had several successful trades off it.

Biggest problem with LMC is that the limited free float means minimal institutional interest, so it is very illiquid. In addition (and partly as a result), they have no imperative to indulge in "result smoothing" type behaviour or in providing regular updates to market. This means results are difficult to predict and can be bumpy/unexpected. At this point in time, given the difficulty in knowing the outcome of current period with only Lemtronics in hand, I would only buy with a 2-3 year time frame. Otherwise, just wait for half year result - it is barely looked at, so probably plenty of time to read and digest before buying.

My current hold dates from the GFC when it was a defensive pick with great asset backing. However, their strategy of high cash holdings/low leverage, whilst safe, is not going to make them the fastest growth stock on the ASX - unless they actually spend some of that cash on cheap acquisitions while the price is right.

Of course, if they had done (were to do) that, they would then become less defensive - catch 22. The market probably would have rated them downward for a year or more while the integration process ate through profits. (e.g. GPG and Coats)