Lms Capital Share Discussion Threads

[skyship] 30/12/2016 17:13

LM - Yes, every dog has its price, so even though Robert Rayne is still there, at least the Rayne concert party didn't sell any stock in the last Tender, so they must be reasonably satisfied with the integrity of the last NAV valuation of 88p as at 30th June; as must the incoming managers.

Since then £Sterling has fallen another 6.7%, so with 2/3rds of the portfolio in US$, this alone would have added c4p to the NAV.

If we assume a 31st Dec’16 NAV of 90p, then the shares are offered at 55p on a 39% discount with two 6% Tenders in the offing.

With the PE sector ablaze, a small exposure here now looks a reasonable Risk/Reward play; though shareholders may have to wait patiently for news as there may be no IMS ahead of the Finals in mid-March.

[luckymouse] 30/12/2016 11:05

in the buyzone here - discount has increased - rising nav - sector breakout - a volume spike or bit of gd news here would trigger it speaking purely technically. The white candles & prc action would seem to indicate someone's been skillfully getting out via the back door ie dumping & buying the close or using an alternative exchange - never the less a catalyst right here would do it

[mad foetus] 07/12/2016 21:13

I must say I wouldn't play with fire when the last couple of times it has ended with a red hot poker up your boomole. Gresham seem less dodge than the LMS crooks, but it's a brave man who goes back for more.

[tiltonboy] 07/12/2016 14:37

Big seller in play at the moment!

[eeza] 07/12/2016 10:15

Fill yer boots.

[hugepants] 06/12/2016 20:47

Medhost Inc is the largest portfolio company. Its about 25% from memory. Is there any publically available financial info on this company? I'd probably buy some of these if I could be convinced the NAV is reasonably accurate.

[skyship] 06/12/2016 16:27

Bother - went for a small top-up @ 55.75p....and someone beat me to it by seconds. Actually they bought quite a few more than I was after, they took 50k. I suppose I should be pleased that someone else sees value here. I certainly do.

I had a very helpful response to my request for an IMS ahead of the Finals as they are a long way off - March next year. Graham Bird, MD of GHAM, is minded for such a move and more regular reporting in general. It really was a very constructive response; and highly encouraging for future communication with shareholders.

[eeza] 06/12/2016 15:52

Management no longer interested now they have secured their own futures.

[simonsaid1] 06/12/2016 14:47

Skyship are you still happy to hold this? I'm getting a little tired of seeing a huge red spot in the middle of my portfolio, and beginning to wonder if the opportunity cost of waiting for LMS to recover (and having those funds thus tied up) is starting to outweigh any future gains. Your 2 cents appreciated.

[skyship] 26/11/2016 14:35

....and a more recent one too. The problem here is the long wait until the next official staement, which may be the Finals in Mar'17. That is a long time to wait for the next NAV update; and so far emails have not elicited a response to my request for a qtly IMS.

NAV here quite likely to be North of 95p. At 95p the dicount to a 56p share price = 41%.

Also two further Tenders are promised.

I've bought back the stock tendered in the last time; but so far haven't increased further...

[luckymouse] 26/11/2016 12:26

That's hit an old buyzone

[tiltonboy] 11/11/2016 15:14

Trustees must be fuming that they couldn't Tender!

[eeza] 11/11/2016 14:28

Rayne sold 400k

[simonsaid1] 19/10/2016 12:59

Pretty rough October for this stock. Is this just boredom? About 5% down in the last month.

[skyship] 13/10/2016 09:03

NAV likely North of 95p after the continuing £Sterling fall...

As previously stated, one has to assume that GHE took a very long look at the portfolio before doing the recent deal.

What I don't particularly like is the very long wait before the Fina;s in Mar'17 - a full 5months down the tracks...

Hopefully we may have an IMS at some stage in view of the significant changes.

[eeza] 12/10/2016 17:38

NAV is a work of fiction - director estimate.

Directors are totally & utterly untrustworthy.

[luckymouse] 12/10/2016 16:58

like the rising nav - but don't like that chart shape

[eeza] 16/9/2016 07:15

Schroders reduce 250k - below 5%.

[culver] 13/9/2016 12:43

Barclays seem to take a week to allocate cash entitlements, they finally credited my a/c today: 6.87% basic + 5.75% excess = 12.62% total.

[spectoacc] 13/9/2016 10:04

I've sold out of my remaining holding - just can't get excited enough about the value to stay in, & find the wee tenders a bit draining! Can see an argument for staying invested in LMS, even for buying more, but it's not the compelling investment it was when they were in (in theory) wind-down.

[eeza] 13/9/2016 09:54

Expecting the next tender to arrive swiftly, as I believe sales have already been lined up/ agreed in principle. imo.

[simonsaid1] 13/9/2016 09:45

Given that the current dip is all due to broad economic factors and not LMS in particular, I expect some more big buys from bargain hunters today. Definitely a Value sort of week.