Share Name Share Symbol Market Type Share ISIN Share Description
Lms Capital Plc LSE:LMS London Ordinary Share GB00B12MHD28 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.10 0.28% 35.50 2,210 16:35:00
Bid Price Offer Price High Price Low Price Open Price
34.00 37.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -4.40 -5.40 29
Last Trade Time Trade Type Trade Size Trade Price Currency
08:00:31 O 2,210 34.7575 GBX

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Lms Capital (LMS) Discussions and Chat

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Date Time Title Posts
14/6/202110:21Something I have bought!!1,476
28/11/201919:27LMS Shareholders reject Independent Board recommendation-
21/11/201910:15LMS Capital - Vote Gresham House1
19/11/201913:33LMS Capital - Proxy Voting-
15/11/201916:10LMS Capital - Retain Gresham House1

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Lms Capital (LMS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-23 07:00:3334.762,210768.14O
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Lms Capital (LMS) Top Chat Posts

Lms Capital Daily Update: Lms Capital Plc is listed in the General Financial sector of the London Stock Exchange with ticker LMS. The last closing price for Lms Capital was 35.40p.
Lms Capital Plc has a 4 week average price of 32p and a 12 week average price of 29p.
The 1 year high share price is 37.80p while the 1 year low share price is currently 27.70p.
There are currently 80,727,450 shares in issue and the average daily traded volume is 14,452 shares. The market capitalisation of Lms Capital Plc is £28,658,244.75.
cc2014: Some very strange trades the last 24 hours. I can't work them out at all. On the one hand it looks like it has maybe been tipped somewhere, on the other I'm wondering how many of the apparent buys aren't real and may just be marketmaker to marketmaker switches. On my third hand (the mind boggles) if it had been tipped I think there would be more buys. Alternatively perhaps it's just popped up on someone's radar as at the moment it's buy any old share as the money printing presses keep going.
cc2014: I'm taking the view that the price of oil has been rising steadily and this outweighs the loss of reserves by a considerable amount. So, in my mind the share price should have been going up to reflect this.
igbertsponk: Be careful with this. Same management and mostly the same assets that were in LMS a long time ago. And the management have been made redundant/left etc umpteen times and continue to take exorbitant amounts from the company. They've done a whole heap better than shareholders!
cc2014: I don't think you'll get many replies magic. I would guess there are only about 10 people who read this thread and of that only half have looked at the company in any real depth. I am happy enough to hold having bought below 30p and wait for things to develop. I like the Dacian story and appreciate how transparent the directors have been with it and that even if things go wrong it's not going to be an endless pot of money disappearing into nowhere as it will be the maximum holding allowed. I also like how the directors are not rushing in to spend all the cash in the pot and this is quite rare as most "fund managers" are always rushing to spend all their cash regardless of whether the timing is right or wrong. I firmly believe there is a disconnect right now in asset prices in the property sector and there will be bargians galore at some point in the future. I don't like the management costs and see these as way too high as a proportion of the assets. This needs dealing with but it won't happen so you either have to accept or not invest. Hopefully, with the assets generating a return of say 10%+ and paying out 1.5% in dividends, the management costs as a percentage of net assets will shrink over time but I wouldn't bet on it. I do like that the management incentive scheme is linked to the share price and not some other random metric which means they will get paid regardless. I find the scheme overly generous though, which seems to be the way these days as I think that about all schemes. It looks cheap to me but of course I have a vested interest. I'm looking to stay in long term rather than flip for 5,10,20% or whatever.
magic: Had a look through the Annual Report, April 9th. Not that familiar with this company, the items that struck me were: - commitment to future 1.5% div payout - the Romanian investment would result in annual 14% payments to LMS, was it 5 or 10 years, I cant remember This looks like a kind of preference bond investment. Must be with voting rights. The investment is funded by LMS and also individual Directors for a 50% investment with a local partner. Thoughts A 14% return is very high and would be associated with a high risk venture. If this investment was so good, why would Romanian banks not invest for instance? My personal feeling is that oil prices will continue to stay high for some years. Techniques to maximise reducing wells are well developed. I also have a small investment in tiny Evolution Petroleum in the USA, which is a secondary recovery company, having passed a traumatic period. This is high risk business, as the Romanian co it looks like would only be £20m cap. IMO only a small % of all investments should be in this. - other item was that LMS has escrowed its capital since Septemeber 2020. If co is successfully set up, LMS will receive £100k per month from Sep 20. Must be in the contract. So £300k potentially is not in the accounts and the further months payments as part of the 14% payments would be in 2021. So its still all about the final agreement, which LMS is positive about. But they would be I guess. If the Romanian adventure doesnt pass, the cash woyuld go back to LMS. Would be interested in any other views. I dont have any good insights into their other investments, which seem to be up and down. Hopefully the valuation is so low, that the downside risk seems smaller than the upside possibilities. Here's hoping.
cc2014: It seems the seller who has been providing me with stock on an irregular basis below 30p has now stopped. Share price seems to be inching up slowly, mind you that's no surprise since everything is going up. It would be nice to see them get the Dacian project signed off
hugepants: Portfolio update: NAV up a couple of pence to 59.5p including approx 25p in cash.
aclelland: Gresham House Asset Management Limited (“GHAM”) notes the announcement made today by LMS Capital plc (“LMS”) that the resolution to re-appoint GHAM as investment manager to LMS was not carried. The resolution was put to LMS shareholders by the LMS board (“Board”) and was unanimously recommended by the independent directors of the Board. The recommendation also received the support of independent proxy research house ISS. Robert Rayne, the only non-independent board member who, together with family-relatedholdings represents c.42% of the outstanding shares (“Rayne Concert Party Shares”), opposed the Board’s recommendation, instead proposing an internally managed solution. GHAM notes that a very substantial majority of holders of non-Rayne Concert Party Shares comprising 82%, supported the Board’s recommendation and voted for the re-appointment of GHAM. Following the outcome of the shareholder meeting, the independent directors of the Board have resigned, as they do not believe that the internal management proposal is in the best interests of shareholders as a whole. An announcement relating to the appointment of replacement directors will be made by LMS in due course. LMS had net assets of £58m as at 30 September 2019, representing approximately 2% of GHAM’s total assets under management. The mandate is therefore not financially material to GHAM or to Gresham House plc. Background GHAM was appointed investment manager to LMS in August 2016, following a shareholder vote. The appointment came with a change of investment policy, bringing to an end LMS’s previous realisation policy, and sought to improve governance, reduce costs and, following further committed returns of capital to shareholders, ultimately to recommence investment. GHAM’s appointment was instrumental in catalysing significant positive changes at LMS, including improved governance, very significant cost reductions, portfolio re-appraisal and management, successful realisations, and improved investor relations and shareholder focus. Under GHAM’s management, sufficient cash was raised from realisations to return £11m to LMS shareholders in August 2017, fulfilling the commitment made in August 2016 earlier than expected. Since then, GHAM has facilitated and managed further realisations which have led to a position where, as at 30 September 2019, LMS had in excess of £28m cash available for investment. Next Steps GHAM will remain as Alternative Investment Fund Manager to LMS until LMS secures the necessary authority and approvals from the Financial Conduct Authority to manage its investments directly or alternative arrangements are put in place. Robert Rayne confirmed in his Circular to LMS shareholders dated 8th November 2019 that the New Board intends to serve notice to GHAM to terminate its existing contract, and hence these arrangements will not extend beyond 31 May 2020.
pavey ark: SKYSHIP, I agree with your 33.5% figure but my figure for net cash is 43%,obviously we are using a different method of calculation. Perhaps more interestingly I get a figure of £20m for the total NEAR CASH which renders all discount figures even more silly. 1 Residual payment on Penguin is £4.3m but willing to discount this to £3m 2 Nationwide Energy Partners owe £2.96m (Dec 2017)and this is rock solid but I don't know the repayment schedule so call it £2.5m 3 8% Convertible loan instrument with Northbridge IS is already "in the money" £600k but to keep things neat call it £500k. If the above are taken out I get a discount of c.50% on all the other assets. A £4.5m holding in Gresham House discounted by 50% !!? Plenty of other solid assets that are discounted at silly rates. I have been buying over the last month and this has reached 5% of my share holdings. In my opinion these discounts take out much of the possible downside. Happy to hold but probably have enough. Edit: I don't think that Simon Thompson, in the IC, covers this now. Any recent mention of LMS has been in relation to their holding in Gresham House, which is a big favourite of his. It looks like LMS share price is at the mercy of PIs doing their own research.
cwa1: There's a wholly unfamiliar blue hue surrounding the LMS share price this morning. Another screen fault?
Lms Capital share price data is direct from the London Stock Exchange
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