Lms Capital Share Discussion Threads

[mad foetus] 27/7/2016 07:27

What a bunch of Cowboys. What they need to do is cut costs: stop paying themselves huge fees, stop renting out prime London offices, stop appointing new NEDs. This is the worst corporate governance I have ever seen. I think any shareholders should write to the board, the LSE and the FCA to complain. Add any newspapers and magazines you can think of to that list. This is corporate capture by the board.

[spectoacc] 27/7/2016 07:16

@eeza - they just don't give up do they! Now want to turn into a PE vehicle, those ones that trade on a massive discount to NAV..

[eeza] 27/7/2016 07:11

On the anniversary of the last attempt to effect change of Investment - a new attempt. Lol !!!!!

Sweetened by tiny tender at 5% disc to 30 June NAV.


Leopards don't change their spots !!


"Commenting on the proposed Change of Investment Policy, Martin Knight, Chairman of LMS Capital plc, said:

"We have continued with the realisation strategy during the first half of the year but the Board is mindful that, as the portfolio reduces in size, the management time and costs involved in running the portfolio, together with the requirement to maintain sufficient working capital requirements, could increasingly impact returns to shareholders.

The Board is excited by the prospect of working with the new investment manager which it believes is an opportunity to create long term value for shareholders"

Virtual cut & paste from last year - we see this as our money, not yours.

[pavey ark] 24/7/2016 19:44

Thanks for taking the time to reply guys and I found all the details on the BDI home site.
If LMS does still holds 2% then it should be about £1m returned.

I agree that it's not a large sum but every little does help.

[skyship] 24/7/2016 18:13

Ah - thnx for that

[strathroyal] 24/7/2016 16:09

PA - Re my post 888, see below. The RNS was from BDI, not LMS. At the time LMS owned 2.1% of BDI>

1. KEY INFORMATION

(a) Full name of discloser: LMS Capital plc

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.


Comprises interests held by subsidiaries of LMS Capital plc

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each offeror/offeree


Bond International Software plc

(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:


N/A

(e) Date position held/dealing undertaken:

For an opening position disclosure, state the latest practicable date prior to the disclosure


25 March 2015

(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

If it is a cash offer or possible cash offer, state

[skyship] 24/7/2016 14:14

PA - pretty small beer, 778k shares worth just under £1m - still every little bit helps; and in the case of BDI it looks as though that is also headed for the liquidation door, so may be a small payout into our coffers.

I too couldn't find a reference to BDI in either the Mar'15 Finals or the Mar'16 Finals for that matter...will need to take another look!

[pavey ark] 24/7/2016 13:33

Can you guys explain the significance of BDI etc.
I can't even find the March info.

[eeza] 22/7/2016 22:21

Yes, Strath, that is the last RNS or mention I can find, (but doesn't state what they paid for them).

[strathroyal] 22/7/2016 21:50

eeza - this takeover or self liqidation appears to have been going on forever. Back in March 2015, LMS stated that they had 777,850 shares in BDI, don't think I have noticed any updates since then.

[eeza] 22/7/2016 08:23

Does LMS still own 2% of BDI ?

[simonsaid1] 19/7/2016 11:47

Did anyone else have trouble buying this through BestInvest (if they happen to be your broker of choice)? I had to phone them and have them put the trade through manually, their web system won't show LMS and they can't explain why (being investigated now). And the 1 hour delay as that was being sorted out cost me almost 2p a share, really maddening.

[skyship] 09/7/2016 15:35

Sp looked a whole lot brighter on Friday, closing @ 62p bid.

Morningstar have the NAV at an estimated 95.2p; but really it all depends upon individual portfolio valuations. So have to wait on those Interims now just 2 weeks away - 24th July last year.

[alter ego] 08/7/2016 08:52

yes,


I think investors have got their valuation of small-cap investment company LMS Capital (LMS:57.5p) seriously wrong. I have good reason to think this way as having run through the annual accounts and the first-quarter trading update, looked into the structure of the portfolio of investments and the currency exposure, it's obvious to me that the cash-rich shares are very undervalued.

[mad foetus] 08/7/2016 08:47

has tommo given this a write up?

[spob] 06/7/2016 15:59

I guess some are forced sellers regardless of value or price on offer

[tiltonboy] 06/7/2016 14:50

Many thanks.

[spob] 06/7/2016 14:24

Simon highlights the benefit of our currency crashing

[steve3sandal] 06/7/2016 14:19

"Loads of trades going through at the moment"
That would be the Simon ThompsonIC effect...just tipped again ahead of next scheduled announcements in July/Aug

[tiltonboy] 06/7/2016 14:12

Loads of trades going through at the moment.

[skyship] 01/7/2016 10:56

CA - if you have doubts and quite justifiable concerns, then surely best just to wait for the Interims in 3-4weeks time.

I'll add further later - jus going out...

[chevalierdaven] 01/7/2016 08:16

Skyship, others, a question for you LMS lovers: what makes you confident on the reliability of the NAV of the unquoted companies?

I read in the past exits were not executed below NAV right? That is rather good.

But obviously now we are left with the "tail end" of the portfolio, it can be argued they are the companies with less bid potentials. So just how prudent is their NAV estimate.

Is it not worrying that the pending unquoted sale is at at £3.6m discount to Year End NAV? My quick guestimate (using cash balance proforma impact)= it could be Nationwide Energy Partners (9.9m £ in the books) so we would be talking about a 36% write down!

[cousin jack] 28/6/2016 16:01

Hmm...thanks for replies. On reflection I think I'll watch and wait a bit longer until volatility clearly lower. And then doubtless wish I'd bought today ! Good luck to those who have purchased.