Share Name Share Symbol Market Type Share ISIN Share Description
Lms Capital LSE:LMS London Ordinary Share GB00B12MHD28 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75p -1.38% 53.50p 53.00p 54.00p 53.50p 53.00p 53.50p 8,001 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -20.8 -20.6 - 43.19

Lms Capital Share Discussion Threads

Showing 1276 to 1299 of 1300 messages
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DateSubjectAuthorDiscuss
15/8/2017
17:17
Being greedy and hoping for a bit more than that from those not tendering through their broker for whatever reason.
cwa1
15/8/2017
16:53
Yes, as you say, it works out as a 29.4% return of capital for those who tendered their entire holding.16.29% + (15.65% x 0.8371)
swiftnick
15/8/2017
15:15
Happy with 29.4%. Maybe a little bonus on top from those not tendering internally.
tiltonboy
15/8/2017
09:20
RNS out.All valid tenders will be satisfied in full up to the Basic Entitlement, and, following application of the scale-back mechanism (as set out in the Circular), approximately 15.65% of the Ordinary Shares validly tendered in excess of the Basic Entitlement will also be satisfied.
swiftnick
15/8/2017
08:48
So today's the day we hear the results of the tender offer. I'm predicting 2.15PM.....
cwa1
28/7/2017
18:50
My strategy is to tender as much as possible. I've already more than covered off my 41p purchase price many years ago, albeit not a great return given no dividends. Plan to reinvest when and if it drops to 40p ish. Think the discount will open up after the tender offer.
topvest
27/7/2017
18:32
CWA1 - well done - I made a bit of a hash of it this time around!!
skyship
27/7/2017
09:18
Once the tender process is out of the way the company has stated that new investments will be in direct private equity opportunities at the smaller end of the market and alternative, specialist asset classes targeting long term, illiquid strategies, "leveraging the expertise, experience and network of the GHAM investment team in asset management, private equity and public markets".There aren't that many opportunities for private investors who want some exposure to private equity as part of a balanced portfolio and if the company is successful going forward the returns could be very good. However the size of the market cap will limit their ability to diversify and spread risk so one or two bad investment decisions could hit investors hard.So the question is, given this risk profile, what would be an appropriate discount to NAV going forward? We're on 27.5% or so at the moment - is this too high or too low?
swiftnick
27/7/2017
08:52
LOL Sky, fortunately The Acolytes Of Skyship(TM) followed the master-but didn't do the selling bit :-)
cwa1
27/7/2017
08:28
Hybrasil.....rather shame-faced as only bought back a few and decided too small a holding to worry about so took a very small turn BEFORE the jump in June! DOH!
skyship
26/7/2017
10:27
Hi Pavey Ark, agreed.And actually, refining your NAV discount calculation to reflect the tender process puts the current NAV discount at around 27.5%.Say you bought 4000 shares at 57.75p, costing £2,310. Then tender all of them at 70p with a 25% acceptance. You would get 3,000 shares back together with a cheque for £700. Those 3000 shares will effectively have cost you £1,610 or 53.7p each which is a 27.5% discount to the NAV of 74p.Obviously a lot depends on your view of the Gresham House management and it must be remembered that a large proportion of the underlying holdings are illiquid. Nevertheless these still look cheap even after today's 10% rise.
swiftnick
26/7/2017
09:28
Swiftnick, what it should show you,if you didn't know already, is that most PIs can't work a calculator or make individual decisions. The share price has just moved to where it should have been and still a very comfortable 23% discount to NAV.
pavey ark
26/7/2017
09:15
Not complaining that the share price is up 10% this morning, but all that has happened is that they've announced what they said they were going to announce at a price that people were expecting.
swiftnick
26/7/2017
09:05
In my post 1273 I predicted a distribution of 70p but with the concert party not participating I thought that we would see c.25% of holding taken at this price. I must get the old calculator out again and check my figures. Edit : didn't even have to get the old calculator out ,16% of total shares and no concert party participation private investors should see 25% of their holdings bought for 70p so with all the false modesty I can muster my prediction was absolutely spot on.
pavey ark
26/7/2017
08:29
Only a penny out on my NAV prediction, so no complaints.
tiltonboy
26/7/2017
07:13
Sky ship does it yet again Well done
hybrasil
27/6/2017
08:02
Pleased to see the distribution from SFEP, and the increased Tender Offer, although I suspect that this will be delayed to incorporate the NAV at the interim date. Cynically, I also suspect that they will use the uplift on YesTo, to writedown other assets, so we may not see 75p which would appear to be the NAV following this receipt. I am pleased to see that distributions will be made from profits made on investments in future, which should keep them "honest".
tiltonboy
27/6/2017
07:33
Increase in tender offer:- http://www.investegate.co.uk/lms-capital-plc--lms-/rns/increase-in-tender-offer/201706270700032118J/ The Board now announces: · The Company has received the distribution from SFEP, the final amount of which was $11.6 million; · In light of this significant increase in liquid resources, the Board considered whether it was able to increase the amount of the tender previously announced on 6 June 2017. The Board determined that the tender should be increased to £11 million, thereby satisfying in full the proposals in the July 2016 Circular to return this amount to shareholders. It is the Company's intention that the tender offer be launched at the same time as, or shortly after, the Company announces its 30 June 2017 results. In accordance with the July 2016 Circular, the tender offer price will be determined by reference to a 5 per cent discount to the 30 June 2017 net asset value reported in those results. The tender offer, once completed, will bring to £17 million the amount returned to shareholders since the Company's July 2016 Circular when Gresham House Asset Management was appointed to manage the Company's portfolio. This final tender offer will bring the total amount returned to shareholders to £172 million since the Company commenced its realisation policy in January 2012, at which time the market capitalisation was approximately £153 million.
cwa1
24/6/2017
23:35
They haven't announced it yet!
tiltonboy
24/6/2017
16:22
Do we know when the deadline for tenders will be?
value hound
16/6/2017
09:42
(Three months ago (20th March) posts 1233, 1236........just saying) Anyway if we look at the recent ,improved position "the few" should see c. 25% of their shares taken at about 70p . (based on the assumptions made in my previous post) This is conditional on the tender offer being the full £11m and given the expenses involved it would make sense for them to go for one tender of £11m if they can.
pavey ark
16/6/2017
07:33
Well done @Skyship, who I believe was one of the few to stick with LMS.
spectoacc
15/6/2017
17:35
Simple arithmetic here. The year end value of this holding was £8.4m. For approximately half the holding they are to receive between $11m and $12m. At current exchange rates $11.5m is £9m. If we value the remainder the holding at the price paid for this 50% then the total holding is worth c. £18m or £9.6m over the year end valuation. With 96m shares in issue we get a nice round 10p (give or take). Things look very reasonable and the £11m tender return should guarantee a very acceptable return for anyone invested here. I certainly like the idea of Gresham House getting cash to invest as I do think they know what they are doing.
pavey ark
15/6/2017
14:40
Link didn't work for me. This did http://www.businesswire.com/news/home/20170614006179/en/Receives-56-Million-Minority-Investment-Provide-Shareholder
alanji
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