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 10 directors, meet the team or view forthcoming share sales here.