Lms Capital Share Discussion Threads

[boystown] 16/11/2020 12:27

Aren't these crazily good value again now?

[skyship] 12/8/2020 07:13

Rayne's previous forays into the sector were pretty disastrous - so IMO not a good start to the dispersal of LMS cash.

[cc2014] 12/8/2020 07:11

No wonder the row with Gresham House if this is what the major shareholders were interested in.

[cwa1] 12/8/2020 06:50

Interesting , and unexpected by me, acquisition of interests in the oil and gas industry!



12 August 2020

LMS Capital PLC

INVESTMENT IN A PORTFOLIO OF OIL AND GAS PRODUCING ASSETS IN ROMANIA

· Leadership of an investment group to acquire an interest in Dacian Petroleum ("Dacian") in Romania

· Dacian will, conditional on obtaining necessary Romanian Government approvals, acquire a business operating onshore oil and gas fields currently producing approximately 1,400 barrels of oil equivalent per day ("boepd") with significant production upside and unrecovered reserves

· Approvals expected late Q3 or Q4 with a backstop date of 8 January 2021

· LMS investment of US$9.05 million in loan and equity capital to acquire a 32% holding in Dacian

· Co-investors include Dacian management, LMS Directors and others

[cwa1] 30/4/2020 12:38

Modest director purchase announced

[skyship] 29/4/2020 08:48

Decided to sell into the few buyers emerging after today's Update. Out @ 33.125p.

GLA

[skyship] 02/4/2020 06:32

Yes. noticed that. Sorry, no idea why the slight improvement.

18 trades on Tuesday! Small buyers paying up to 27p in the morning; but squashed down by sellers in the afternoon.

[westofengland] 01/4/2020 18:55

Sky, some life in the stock last two days- any idea why?

[skyship] 30/1/2020 12:09

I was referring to your last sentence - the return of the old team.

[igbertsponk] 30/1/2020 11:19

I'm talking about today's NAV drop and its causes.

[skyship] 30/1/2020 11:05

Igbert - that happened 2 months ago...

[igbertsponk] 30/1/2020 10:43

So a reduction due to write downs of investments made by Rayne etc.
And more costs of the reorganisation.
This is just a vehicle for bosses to get payoffs from.
I bet they'll get some old LMS guys back in again.

[eeza] 30/1/2020 10:27

RNS - Nav update

[swiftnick] 30/1/2020 10:20

Thanks Skyship. I added a few this morning at 37.65p.

[skyship] 27/1/2020 20:42

NAV should be declared this week; though won't include the further rise in GHE - now @ 650p.

[skyship] 22/1/2020 07:37

Indeed - however prepared to chance a few bucks down at this level.

[tiltonboy] 22/1/2020 07:33

About as trustworthy as MVI.

[skyship] 22/1/2020 07:31

HP - I suspect their valuations were keenly inspected over the two years when Gresham had management control. I recall there was a bit of a markdown on day one.

[hugepants] 21/1/2020 23:26

re skyships post above this looks quite interesting if cash is 31p and NAV at 68p

Looking closer at the portfolio they have 2 listed investments;

Gresham House(GHE) currently worth £6.45M = 8p
Solaredge Inc (listed US stock) worth approx £1.8M = 2.25p

That leaves about 25p per share (£20M) of unlisted stocks and fund investments. I wonder how prudently they are valuing these?

[igbertsponk] 13/1/2020 16:27

He'll soon invest the cash in something long long term.

[cwa1] 13/1/2020 16:20

LOL, SKY, never thought I would see this day :-)

[skyship] 13/1/2020 16:00

We all know that Robert Rayne is one of the best value destroyers in the investment game, so can there ever be a reason to buy LMS now that he is back in charge.

Personally I've always been prepared to chance a few quid when a discount reaches absurd levels. Two universal laws:

# Nature abhors a vacuum
# Market forces of one form or another tend to rectify discounts 😊

So, we now see LMS on offer at a smidgeon below 38p - already down 10.5% on the price paid by Peter Harvey just over 3weeks ago.

At 38p the 30th Sept'19 NAV, adjusted for the 4.25p special dividend, comes out at 68.4p - so the discount now = 44.4%. That discount should be confirmed one way or another later this month when the Dec'19 NAV figure is due to be released; when a further small haircut has to be considered quite likely.

Of the net £55.2m net assets, no less than £25m is in cash - that's 31p/share.

So, may be stupid, but I've taken a small position...

[cwa1] 20/12/2019 16:04

The Company was notified on 19 December 2019 that Peter Harvey, Non-Executive Director of the Company, purchased 20,000 ordinary shares of 10 pence each ("Ordinary Shares") at a price of 42.5 pence per Ordinary Share.

[cwa1] 19/12/2019 08:02

So ex the 4.25p special this morning, payable 15/1/20. Will be interesting to see where this one goes now...