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RMA Rasmala

135.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Rasmala LSE:RMA London Ordinary Share GB00BNG83T81 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 135.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 135.00 GBX

Rasmala (RMA) Latest News

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Rasmala (RMA) Discussions and Chat

Rasmala Forums and Chat

Date Time Title Posts
19/11/201814:22Rasmala Ј25m Market cap, 87m assets 107
01/6/201609:51*** Rasmala ***-
05/10/201315:13*** Royal Mail ***3
24/4/200313:25The Real Madrid Appreciation Thread2

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Rasmala (RMA) Most Recent Trades

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Rasmala (RMA) Top Chat Posts

Top Posts
Posted at 19/11/2018 14:22 by rjmahan
Agreed - am lucky it was quite small for me but got out at a pretty poor price.



All very frustrating.
Posted at 04/6/2018 08:23 by hugepants
Agreed. I was going to buy more but the spread put me off.
The results are much improved and they now claim to be in "growth mode".
Mention of the rising oil price which is key for the region. NAV is nearly 500p.
Posted at 06/1/2018 16:49 by rjmahan
Directors / HSC3 all tendered... Actually thinking about it you would expect a change.

More interesting is now do they have enough cash to buy the whole thing?
Posted at 22/11/2017 11:26 by hugepants
Interesting tender result. The shares are certainly a good deal cheaper now on a discount to NAV basis and they have half the market cap in unused tender offer money. Will they make another tender at a higher price?
Posted at 20/11/2017 09:20 by russman
Doubt the tender was taken up in full.
Discount to NTAV would have increased substantially.
Spread will hopefully stay smaller.
Back to share buybacks.
Posted at 17/11/2017 16:12 by russman
I think the tender was at the wrong price.We will see how many shares were tendered.
Posted at 23/10/2017 15:13 by papy02
Anyone know which (or any) brokers will allow you to hold RMA stock in the event that the listing moves (exclusively) to Dubai? (Selftrade would not, unless it remained Crest-eligible, which seems unlikely?)
Posted at 20/10/2017 10:31 by russman
Tender price seems a bit cheeky to me.Too low.Have to check the share register.Who comes out best if the tender is taken up in full.
Posted at 11/4/2017 18:32 by hugepants
Quite.

CJohn you are not wrong.It's odd with the markets at record highs to see this still trading at such a huge discount to NAV.

Remember this from last years results? They obviously considered some "short term measures to support the share price" but didn't much like them.

"...We have developed a unique platform which is well positioned to grow and expand. However, we believe the current share price materially undervalues the Group and whilst confidence in our strategy and the building up of a track record is essential to create long-term value, we are considering short-term measures to support the share price..."
Posted at 30/1/2017 03:04 by wexboy
Rasmala (RMA:LN) (3.0%):

Share Price: GBP 110p

Market Cap: GBP 33 Million

Rasmala was a ghost in 2016…the business made no discernible progress, nor did the shares. Which is all the more frustrating, noting the oil price soared, the AIM Index clocked a 14%+ return, and even (some) deep-value micro-caps rallied significantly. Longer-term, the legacy private equity portfolio remains unsold, AUM is unchanged for over 3 years now, and after 5 years at the helm CEO Zak Hydari is still nowhere close to delivering a sustainable return on equity. Even successful activism – relinquishment of the banking licence, a £20 million tender offer, a share buyback approval (albeit management hasn’t acted on it since) – has been ignored by investors.

But it’s priced accordingly: Eliminating the equity stake in Diamondcorp (DCP:LN), which looks touch & go here, RMA trades on a 0.35 Price/Book multiple. For a company which operates near break-even & has a relatively low-risk/un-levered/hedged balance sheet, that’s a dirt-cheap valuation. But alas, a valuation which may not change significantly ’til we see a significant corporate event – whether it’s another tender offer (we’d probably need to see management do the buyback first), or some kind of merger/takeover. Though the appearance of Somers Ltd., who have steadily built a 8.1% stake to date, may well prove a potential catalyst. While it’s still one of their smaller holdings, Somers has a history of constructive activism – we can expect them to push for value enhancement/realisation here too.

Opportunities for a deal with another Somers portfolio holding might appear limited (though Bermuda Commercial Bank could perhaps approach Rasmala as a potential balance sheet transaction/expansion), so finding a buyer or initiating a formal sale seems a more likely bet. [And Somers wouldn’t have much trouble attracting support from other disgruntled investors!]. And noting another relationship that’s been developing recently (here & here), Ajman Bank (AJMANBAN:UH) is perhaps a candidate – though in a formal sale, other bidders could pop out of the woodwork (SHUAA Capital (SHUAA:UH), for example?). Like most special situations, earning a decent (annualised) return here will inevitably depend on how long it might take for value to be realised – and so, time is the enemy here…

For this & other top picks, check/Google my latest 'Top Trumps For 2017...' post on the Wexboy investment blog.
Rasmala share price data is direct from the London Stock Exchange

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