Lms Capital Share Discussion Threads

[bscuit] 23/12/2015 20:21

jlo----ditto.
I tendered 100%-15,000 from Charles Stanley Direct and only got 31.1%--4,667.

[jlo10] 23/12/2015 17:20

Thank you Mad Foetus
Didn't realise the calculation would be at broker level
Not sure that is fair but so be it

[briggs1209] 23/12/2015 16:28

Well, note to self - be more specific!

Am with selftrade and replied before deadline saying I wanted to tender as many as possible.
Got a message a couple of days ago asking me specifically how many shares I wanted to tender.
I went for 7500 knowing that would be over and above what I would get.
The reply came today saying I had missed out on the tender as my specific tender number came too late.
However, my cash and portfolio statement reflect that 39.16% had been tendered.

All worked out ok but will be clearer in my messages in the future.

[budsman] 23/12/2015 11:41

39.16% for me from Selftrade. I echo Sky's comments.
Hopefully further progress sooner rather than later.

[mad foetus] 23/12/2015 11:18

I think it depends upon the take up from their holders. If the entitlement is 30%, then assume each broker has 10 clients holding 100 shares. They will each get 300 shares tendered, but:

broker 1: all 10 clients take up: each get 30%
broker 2: 5 clients take up: each will get 60%, the rest get 0

that's the basic principle.

[jlo10] 23/12/2015 11:14

how do different brokers end up with different percentages

[skyship] 23/12/2015 11:04

39.2% at Selftrade. Rather late in the day - but a good redemption rate.

[pastybap] 22/12/2015 08:50

31.12% for me with X-O. They really are a useless shower of sh*t. The residual shares appear on my screen, but when I try to sell it says I have (minus) the number of shares that I actually sold in the tender as my current holding. So still holding as the price drifts lower....

[spob] 22/12/2015 08:01

32.35% for me, with a Barclays Stockbrokers isa

[shorne05] 21/12/2015 15:35

Just spoke with Iweb and they said they will update holders either today or tomorrow. A bit slow :(

[budsman] 21/12/2015 14:20

No sign of funds in Selftrade as yet. Would like to see funds and a note of the residual holding soon but they do appear to be increasingly slow in finalising Corporate Actions

[redhill9] 21/12/2015 14:04

Are there any brokers other than X-O that haven't allocated the residual shares to their nominee accounts yet?

Barclays, predictably - always slow in processing these actions.

[midherts] 21/12/2015 13:21

I have had a 38.16% take up via TDW. Very satisfactory.

What to do now? Selling at present price looks unappealing but WFT share price is falling and that must take the edge of NAV. I shall pause for thought but even with the WFT issue the discount is attractive.

MH

[pastybap] 21/12/2015 13:16

Are there any brokers other than X-O that haven't allocated the residual shares to their nominee accounts yet?

[pastybap] 21/12/2015 09:23

I would have sold my residual shares by now, however Jarvis (x-o) are still using carrier-pigeon technology....

[mad foetus] 21/12/2015 08:58

My prediction is the share price will drop a little as those holding for the tender sell out, and then, probably early in the new year, we'll get news.

Weatherford looks like a write off right now, btw. And I assume the big instis are going to be looking to reduce the directors exorbitant fees and keep the pressure to distribute more on.

[skyship] 19/12/2015 17:30

If you only get 31% redeemed @ 96p, then sell the 69% balance for 68p (3p down on Friday's close); then you will still have sold at effectively 76.7p.

Personally I suspect 68p will hold the share price as the NAV discount will then be 30%; this for a company still in liquidation mode and which has now repaid capital through 4 Tenders. To date £155m has been returned to shareholders - this equates to c65% of the end 2011 NAV (the start of the process) and c100% of the MCap at the time...and there's still another £100m to go!

How long will we have to wait for the 5th and how good is the portfolio? Well, that is all up to each individual to assess. But IMO, do so without questioning Management's clear intention to continue on the liquidation course. Quite clearly they cannot now back out of that.

[papy02] 19/12/2015 12:08

Still waiting at Selftrade as well

[redhill9] 19/12/2015 10:14

Yes, thanks nw1234, you are right.

By the way, thanks Skyship for bringing this to my attention. Still waiting on Barclays of course, but my HL holding in LMS has generated an 11.5% profit in around 6 weeks - very acceptable.

I sold my residual LMS shares held with HL yesterday as I suspect the price will drift lower from here but will look for re-entry when another tender looks imminent.

[skyship] 19/12/2015 07:22

nw - I think you are correct with that.

[nw1234] 18/12/2015 18:12

rh9. It is 3.4% of shares tendered in excess of the basic so I think it is 28.7% + 3.4% x (1-.287) = 31.4% rather than 32.1%. Cheers.

[redhill9] 18/12/2015 15:57

Hargreaves Lansdown also processed, except allocation appears to be only 31.59% when I thought minimum would be 32.10%? Will ask the question but not over bothered if I don't get straight answer as I only have modest amount of LMS with them wasn't expecting more than the minimum with HL as they gave such a comparatively long period to tender.

Will be interesting to see what result I get with Barclays as they only gave around 2 days which may mean some shareholders missed out to advantage of those who tendered.

[skyship] 18/12/2015 14:38

Yes 34.86% - Disappointing, but with the holding @ 74p still = 81.48p; so has been a great ride for a 17% allocation...

[badtime] 18/12/2015 13:38

Sky it looks as though Youinvest hav split the shares so u can sell the residual if u want ..I seem to hav got a 34% allocation