Coronavirus - Message From Chairman - May 2020
In these unprecedented times our business is adapting and changing to the needs of our staff and customers, Following strict guidance to ensure the safety of all invoved we are currently able to operate both our Livestock Markets. Some parts of our business are now closed to protect the health and safety of our staff and customers. We thank everyone who is doing their utmost to support us. Our AGM which is normally held in May will now be held later in the year. The directors are not recommending payment of a dividend for the year ending 31 December 2019.
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The L & K Group Plc was formed in April 2005 when the long-standing businesses of The Kendal and District Auction Mart Plc merged with Lancaster Farmers’ Auction Co Limited. The company owns both Lancaster Auction Mart site and the brand new J36 Rural Auction Centre as well as some commercial investment properties in Kendal. The company is owned by over 930 shareholders and employs over 70 staff (both full and part-time). The company is an unlisted Public Limited Company.
Trading from the auction mart sites is conducted via two wholly-owned subsidiary companies: North West Auctions Limited - operating the two livestock markets and 1818 Auctioneers fine art and antiques auctioneers and valuers - and NWA Professional, NWA Property and NWA Architectural the rural surveyors and land agency division.
The Group has different classes of shares:
£0.50 Ordinary shares - carrying full dividend and voting rights
£0.01 Ordinary-A shares - carrying full dividend and voting rights
£0.01 Convertible 'L' shares - these shares carry no dividend or voting rights (these shares exist as a mechanism to convert some or all the shares to Ordinary-A shares in the event of a sale of the Lancaster site and are sold alongside £0.50 Ordinary shares in the ratio of 100 Convertibe share to 1 Ordinary share.)
£0.01 Deferred 'K' - these shares carry no dividend or voting rights (these shares existed as Convertible 'K' shares and some were converted to Ordinary-A shares on the sale of the Kendal sites in 2013 with the remainder becaming Deferred shares)
L&K Group has a board of 9 directors, meet the team or view forthcoming share sales here.