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
  0.00 0.0% 33.00 18,323 16:35:14
Bid Price Offer Price High Price Low Price Open Price
32.00 34.00 34.00 34.00 34.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -4.47 -5.50 27
Last Trade Time Trade Type Trade Size Trade Price Currency
16:07:13 AT 10 34.00 GBX

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Date Time Title Posts
02/3/202116:53Something I have bought!!1,454
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 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 33p.
Lms Capital Plc has a 4 week average price of 31.10p and a 12 week average price of 28p.
The 1 year high share price is 37.20p while the 1 year low share price is currently 22.70p.
There are currently 80,727,450 shares in issue and the average daily traded volume is 23,301 shares. The market capitalisation of Lms Capital Plc is £26,640,058.50.
magic: This seems a very attractive proposition. Bought a small amount. Surprisingly low P/B. Romanian oil financing looks increasingly attractive, re rising oil price. Dividend policy nod to investors. Shaking up Trust after some turbulence. Feels like it might develop some momentum. Limited downside risk. Increasing inflation should start to float value types more.
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.
skyship: Rayne's previous forays into the sector were pretty disastrous - so IMO not a good start to the dispersal of LMS cash.
cwa1: 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
skyship: CWA1 - Simon Thompson today recommends to ditch LMS. Below is the closing part of the article: "My concern is that the concert party has effectively taken control of LMS without paying a premium for doing so. In my view, this will create an overhang of shareholders (who had previously been backing GHAM) who will want to exit. The fact that LMS’s share price reversed from a 12-month high of 59.5p at the end of October is telling, as is the fact that, at 49.3p, the shares now trade on a 32 per cent discount to net asset value (NAV). I can see no reason why new buyers would want to back Mr Rayne’s team at this juncture given that LMS now has fewer resources at its disposal and also needs to recruit expertise it currently doesn’t have. So, having recommended buying the shares, at 48.8p, in my April Alpha small-cap report, I recommend exiting at around break-even. Sell."
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.
skyship: ST made another big write-up on GHE today. He mentions LMS in the body of the text: "Gresham House also deploys similar investment techniques to the £59.6m (73.8p a share) portfolio it manages for investment company LMS Capital (LMS: 50p), a company I am also positive on, having suggested buying LMS’s shares in my April small-cap report for our Alpha subscribers. The investment risk is heavily skewed to the upside, given that Gresham House’s investment managers are in the process of realising significant disposals from LMS’s legacy private equity portfolio with a view to recycling the cash into new private equity investments. The addition of the Livingbridge venture capital team to Gresham House has opened up new private equity investment opportunities to exploit, so expect news on this front in the near future. LMS’s shares are trading 30 per cent below NAV of £59.6m (73.8p a share), even though cash and quoted investments (£24.7m) accounts for 60 per cent of LMS’s market capitalisation of £40.7m. Effectively, LMS’s private equity portfolio is priced in at 55 per cent below carrying value, a ludicrously cheap valuation."
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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