Lms Capital Share Discussion Threads

[simonsaid1] 24/8/2016 14:09

Thanks Eeza, newby here (this site's UI is a mess!). It timed out but managed to get a screenshot to get some idea (slap my wrist).

[eeza] 24/8/2016 13:03

@simon
When you are on this page click on the 'Trades' tab, above at the top.

[rathair] 24/8/2016 12:58

Is it not down to people buying these up for the free money on offer?

[simonsaid1] 24/8/2016 12:46

Anyone know what's going on with these price movements? Very spiky chart, but I can't see trade volumes so I don't know what to make of it.

[simonsaid1] 17/8/2016 14:27

Yes ST wrote a long glowing article about LMS this morning. Positivity about new direction for the company, the 2 promised further tenders, and notes that the uplift it'll give to GHS also helps LMS as over time the former's stake in the latter will grow as per the new deal. The obligatory 'ST Spike' is underway, will see how sustainable it is.

[eeza] 17/8/2016 13:43

Lots of trades going thro - ST comment?

[sleepy] 17/8/2016 13:05

Thanks Kramch

[spectoacc] 17/8/2016 12:34

I'd loved to have seen the proposals before BTEM objected/changed them.

[eeza] 17/8/2016 12:25

@simon

Your 2nd para is the answer.

Also thanks to kramch for the resume.

[kramch] 17/8/2016 11:18

I have posted this on the GHE thread;

A good opportunity to question the board; they expect major cost savings in LMS and believe the move to GHE will reinvigorate the LMS management. Apparently the Rayne interests were always opposed to winding up LMS. It seems a couple of LMS institutional investors objected to a more abject sell-out to GHE, and by R not participating in the tenders other investors gain. LMS will concentrate on small public equity opportunities, and GHS on private equity. The GHE board seems to have done quite a creative deal here, now all they have to do is to apply this to the funds they manage!
K.

[simonsaid1] 17/8/2016 10:54

If anyone would be so kind as to dispense some wisdom, I have a pretty small holding in LMS, just a few thousand shares bought on a punt via BestInvest. Is it likely I'll be able to make an excess tender and surrender the whole position, given how small it is? This would be about 30% profit at the tender rate so I'd be exiting this small position very happily.

Or are excess/scale backs determined as a proportion of each shareholder/broker/nominee's shares rather than a flat number of shares? I realise this in part depends on the number of shareholders who choose to tender shares and how many they tender.

Thanks!

[sleepy] 16/8/2016 21:44

Kramch - did you learn anything?

[eeza] 16/8/2016 15:11

Times subscription only - can you precis.

[teleprompter] 16/8/2016 15:01

Secretive ballot
Patrick Hosking in The Times today - page 39 - summarises the situation.

[rathair] 15/8/2016 20:59

kramch , if you get time perhaps you could share any info on here after the meeting thanks.

[kramch] 15/8/2016 17:45

I'm going to the GHE Gen Meeting tomorrow to ask what new they plan to do with LMS (apart from take fees of course).
K.

[skyship] 14/8/2016 06:58

The Tender Offer opens this coming Wednesday 17th - closes on the 31st. CASH c6th September.

[eeza] 12/8/2016 07:18

Thanks for your comments, Tilts.

I firmly believe that the tiny AT trades that start in earnest each day at around 1628hrs ( sometimes having had no trades all afternoon ) can only be designed to tilt the closing share price to their favour, depending on which way they want to influence the chart. But agree that it should be abolished.

As regards LMS, & the Rayne concert party not taking part in any of the 3 tenders, their combined holding will then rise into the 40%'s - which doesn't bode well for future governance given their scheming thus far.

[tiltonboy] 11/8/2016 23:09

eeza,

The closing auction (uncrossing), and indeed the opening auction should be abolished for all but the largest names. In the 250 you get some bizaarre closing prices, sometimes significantly different to levels that the price was trading at immediately prior to the close.

In the smaller names, there is a proliferation of tiny trades going through, which make no commercial sense whatsoever. I invariably take my SETS limits off before the close to avoid tiny "hits", but forgot one today, and ended up wearing 12 shares out of my 5500 order in AEFS. The Exchange need to look into this...but they won't.

I haven't got a scooby who puts these tiny orders and why, and wouldn't rule out manipulation of the closing price, even though I am the first to quash the conspiracy theories of most posters.

Hope that helps.

In terms of LMS, I am quite happy to buy at these levels, and if I could draw one crum of comfort, it is that this shameless board are not taking part in the Tender. Having read the BTEM comment, I am incandescent with rage that they have tried something on again, and appear to have succeeded.

I have warned consistently about the management, even in the face of my good friend SKYSHIP's support in the merits of the company, and the apparent value.

I have recently bought back into MVI, and given that I rate the respective management's recent actions equally, I hope I do not live to regret it.

[eeza] 11/8/2016 17:53

In case Tilts doesn't explain it, my understanding is that all the unmatched trades throughout the session are put into the closing auction to be reconciled.

So 65 trades were unmatched ( Lolololol ) throughout the day.

However, I've seen ( in CLLN - Carillion) where the trades for the day have been 200k and the closing auction has uncrossed a trade of 125k. Total nonsense, IMO, that an amount such as that couldn't be matched throughout the day.

Bent as a nine-bob note.

[eeza] 11/8/2016 17:43

Well Tilts is the expert on the mechanism involved in the uncrossing trade which gives the closing price.

I've always viewed it as a mechanism for the bent & unscrupulous to game the chart for their their own ends.
You can have no trades at all in a share all afternoon but at 1628 every day tiny AT trades appear, hammering away at the bid or offer (depending on how they want to game it) - and that's all to paint the tape for the closing auction.


Bent as a nine-bob note.

[rathair] 11/8/2016 17:41

Also my previous point should still apply.