Way way too cheap in my opinion this one.

Trading on a prospective P/E of just 8.4 to 2011. Very cheap.

Just look at the projected NAV aswell come 2011...... 318p per share.

Loads of value here.

Some bullish broker notes out in the market.

Laird PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

KBC Peel Hunt Ltd
16-09-10 HOLD 39.00 11.71 6.30 52.50 15.76 6.62

Arden Partners
15-09-10 BUY 40.00 11.90 6.30 53.78 15.90 6.70

Altium Securities
03-09-10 BUY 45.00 13.20 6.00 57.00 16.90 6.50

The Royal Bank of Scotland NV
08-07-10 HOLD 40.37 11.33 8.50 50.77 21.04 10.00

Singer Capital Markets Ltd [R]
04-02-10 BUY 40.82 11.85 5.98 46.63 13.54 6.83

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 40.94 12.05 6.61 53.64 16.98 7.20

1 Month Change 0.07 0.02 -0.02 0.07 -0.02 -0.02
3 Month Change -1.60 -0.52 0.34 -0.20 0.79 0.48


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -78.34% 248.91% 40.94%
DPS -33.67% -3.29% 8.92%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 54.70m 66.75m 78.72m

EBIT 19.10m m m

Dividend Yield 4.74% 4.58% 4.99%

Dividend Cover 0.50x 1.82x 2.36x

PER 41.76x 11.97x 8.49x

PEG -0.53f 0.05f 0.21f

Net Asset Value PS 13.97p 212.58p 318.43p

RECOMMENDED CASH ACQUISITION
of Laird PLC ("Laird")
by
AI Ladder Limited ("Bidco") a wholly-owned indirect subsidiary of funds managed by Advent International Corporation ("Advent")

Summary
· The boards of Bidco and Laird are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Laird by Bidco. The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.

· Under the terms of the Acquisition, Laird Shareholders shall be entitled to receive 200 pence in cash for each Laird Share held, representing an attractive premium of approximately:

· 72.6 per cent. to the closing price per Laird Share of 115.9 pence on 28 February 2018 (being the latest practicable date prior to publication of this Announcement);

· 67.1 per cent. to the volume weighted average price per Laird Share of 119.7 pence for the one month period ended 28 February 2018 (being the latest practicable date prior to publication of this Announcement); and

· 53.0 per cent. to the volume weighted average price per Laird Share of 130.7 pence for the three month period ended 28 February 2018 (being the latest practicable date prior to publication of this Announcement).

· The Acquisition values the entire issued ordinary share capital of Laird at approximately £1 billion on a fully diluted basis.

· If any dividend or other distribution is authorised, declared, made or paid in respect of Laird Shares on or after the date of this Announcement, Bidco reserves the right to reduce the Acquisition Price by the aggregate amount of such dividend or other distribution.