RAB Special Situations Company Share Discussion Threads

[sir ulrich] 27/11/2005 22:58

RAB holds over 22% of Toledo

[rambutan2] 27/11/2005 22:27

the lack of volatility in nav doesnt really make sense. unless they are hedging something/somehow. imho.

[energyi] 27/11/2005 21:22

RSS not keeping pace with the rise in Gold Bug's index (HUI):

-Date- --RSS- --NAV- -Disc. --HUI- --GBP- PdHUI PH/RS Ratio
25.Aug 102.11 103.79 - 1.6% 201.29 $1.800 111.8 1.077 94.7%
15.Sep 103.79 108.50 - 4.3% 229.19 $1.800 127.3 1.173 81.5%
29.Sep 105.50 113.63 - 7.2% 248.36 $1.764 140.8 1.239 74.9%
30.Sep 104.50 114.50 - 8.7% 245.19 $1.763 139.1 1.215 75.1%
06.Oct 104.00 112.27 - 7.4% 237.40 $1.780 133.4 1.188 77.9%
31.Oct 101.50 105.79 - 4.1% 222.84 $1.770 125.9 1.190 80.6%
17.Nov 100.75 105.88 - 4.8% 246.47 $1.719 143.4 1.354 70.1%

Hurt by poor performance in RAB's energy investments, I suppose

[azalea] 22/11/2005 14:48

Can anyone confirm whether RSS has a stake in TMC?

[dunnie] 26/10/2005 10:40

RAB piece in today's Times,
Yesterday Rab Capital chose to cash in profits (in Futura Medical). The hedge fund operator, which originally bought into the stock ahead of its IPO at 33p, sold a final chunk of shares at 50p, realising a handsome profit.

[dunnie] 25/10/2005 14:21

Bought another 50,000 A's @ 3.75p.

[dunnie] 25/10/2005 12:39

Just bought 50,000 A's @ 4.5p.

[mart] 21/10/2005 12:51

Back into RSSA this am.

[dunnie] 21/10/2005 12:29

3 - Oxus Gold plc

RNS Number:0012T
RAB Capital plc
21 October 2005


FORM SAR 3

Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.
A copy must also be sent to the company the shares of which are acquired.

Date of disclosure 21 October 2005

DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")

Date of acquisition

20 October 2005 ...............................................................

Acquisition in (name of company)

Oxus Gold plc ...............................................................

1. Class of voting shares (eg ordinary shares)

Ordinary Shares...............................................................

Number of shares/rights over shares acquired

Shares 1,465,000.......... Rights....n/a............

If rights over shares acquired, as opposed to the shares themselves, specify
nature of rights
...............................................................

2. Resultant total holding of voting shares (and % of total voting shares in
issue)

51,831,059 18.02%

Resultant total holding of rights over shares (and % of total voting shares in
issue)

.........n/a...........%

Total percentage

18.02%

3. Party making disclosure

RAB Capital plc...............................................................

4. (a) Name of person acquiring shares or rights over shares

RAB Capital plc...............................................................

and, if different, beneficial owner

...............................................................

(b) Names of any other persons acting by agreement or understanding (see SAR 5)

...............................................................

Signed, for and on behalf of the party named in (3) above

...............................................................

(Also print name of signatory)

Christopher de Mattos.......................................................

Telephone and extension number 020 7389 7015................................

Note 1. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding
of or acquisition by one person. Note 3 on SAR 5 requires persons who
must aggregate holdings to disclose certain disposals.

Note 2. The resultant total percentage holding of voting shares and rights
over shares is to be calculated by reference to the percentage held
and in issue outside treasury.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section. Tel. No: 020 7638 0129.
Email:[e-mail]


This information is provided by RNS
The company news service from the London Stock Exchange
END
SADBDBDGCBDGGUB

[dunnie] 20/10/2005 11:43

Cardinal Resources plc Holdings in Company
LONDON -- (MARKET WIRE) -- 10/19/2005 -- Cardinal Resources plc (AIM: CDL), an independent oil and gas exploration and production company, was today notified that as of 17th October 2005:

-- RAB Special Situations LP has an interest in 12,708,333 Cardinal
Ordinary Shares, representing 13.72% of the issued Ordinary Share
capital of the Company;

-- Millennium Global Investments Limited has an interest in 5,679,217
Cardinal Ordinary Shares, representing 6.13% of the issued Ordinary
Share capital of the Company;

-- IKB Investments Limited has an interest in 2,819,674 Cardinal
Ordinary Shares, representing 3.04% of the issued Ordinary Share
capital of the Company.

Cardinal Resources plc
Cardinal Resources plc is an independent oil and gas exploration and production company with assets in Ukraine. Cardinal is an experienced operator in the country focused on expanding its existing operations through the farm-in or acquisition of additional upstream oil and gas assets that can be further developed through the application of modern technology and expertise.

This information is provided by RNS

The company news service from the London Stock Exchange

[dunnie] 20/10/2005 07:39

America posts biggest one day rally since April,analysts at Bloomberg TV believe this is the start of the 4th quarter rally.

[dunnie] 19/10/2005 22:27

Windsave breezes in with £50 million flotation plan
WINDSAVE, a Scottish firm which makes wind turbines for people to install on their roofs, has unveiled plans to list on London's junior stock market in the first quarter of 2006 with a value of about £50 million.
Chief executive David Gordon, who developed the idea for the turbines and formed the company in 2002, also plans to raise about £10m to fund international expansion. He said: "What surprised us when we first came on to the market was that we were getting approached globally. We're going to the market to give the company enough capital to make sure that we can take advantage of that."


Glasgow-based Windsave has taken out global patents on its turbine design, which it says differ from rival products because the power produced is fed directly into the household as opposed to being sold back to the national grid.
The group estimates it can save UK consumers up to a third of their annual electricity bills.
British Gas will distribute the turbines at a cost of about £1500 and government grants of up to £500 will cut the cost for households, Windsave said.
The company is in the process of appointing advisers. Mr Gordon is the major shareholder, with a 61 per cent stake, followed by RAB Capital which owns just under a fifth of Windsave

[dunnie] 18/10/2005 10:26

AIM - Sch 1 Update - Beximco Pharma

800 words
17 October 2005
13:22
Regulatory News Service
English
(c) 2005

RNS Number:7596S AIM 17 October 2005

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME: Beximco Pharmaceuticals Limited COMPANY ADDRESS: 19 Dhanmondi R/A, Road No.7 COMPANY POSTCODE: Dhaka 1205 COUNTRY OF INCORPORATION: Bangladesh COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:

The Company manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients and large volume intravenous fluids to local and international markets. DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): Global Depositary Receipts, each representing one ordinary share of Taka10 each

GDR Price: 60p

Number of GDRs to be issued: 20 million CAPITAL TO BE RAISED ON ADMISSION: £12 million FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:

Board:

Ahmed Sohail Fasiur Rahman (Chairman)

Ahmed Salman Fazlur Rahman (Vice Chairman)

Iqbal Ahmed (Director)

Mohammad Abul Qasem (Director)

Osman Kaiser Chowdhury (Director)*

Dr. Abdul Alim Khan (Director)

Abu Bakar Siddiqur Rahman (Director)

Dr. Farida Huq (Director)

Chowdhury Hafizur Rahman (Director)*

Faheemul Huq (Director)

Ahsanul Karim (Director)

Executives:

Nazmul Hassan (Chief Executive Officer)

Ali Nawaz (Chief Financial Officer)

Afsar Uddin Ahmed (Director, Commercial)

* - Also Executives

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL BEFORE AND AFTER ADMISSION: Before Admission:

Beximco (Holdings) Limited 15.57%

Bangladesh Export Import Company 8.24%

Investment Corporation of Bangladesh Unit Fund 6.72%

Investment Corporation Of Bangladesh 3.43%

After Admission:

Beximco (Holdings) Limited 12.32%

Bangladesh Export Import Company 6.53%

Investment Corporation of Bangladesh Unit Fund 5.32%

Investment Corporation Of Bangladesh 2.72%

Nordea 4.78%

RAB Special Situations (Master) Ltd. 4.17%

Quintina Holdings Inc. 3.48%

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: None ANTICIPATED ACCOUNTING REFERENCE DATE: 31st December EXPECTED ADMISSION DATE: 21st October 2005 NAME AND ADDRESS OF NOMINATED ADVISER: Libertas Capital Corporate Finance Limited, 16 Berkeley Street, London, W1J 8DZ. NAME AND ADDRESS OF BROKER: Libertas Capital Securities Limited, 16 Berkeley Street, London, W1J 8DZ. DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: The Admission Document, which will contain full details about the Company and the admission of its GDRs to AIM, will be available for inspection at the offices of Jones Day, 21 Tudor street, London, EC4Y 0DJ. DATE OF NOTIFICATION: 17th October 2005 NEW/ UPDATE (see note): UPDATE QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: Not Applicable THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET:

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS

[rambutan2] 17/10/2005 15:42

why do you say that re options gedwar?

[gedwar] 17/10/2005 14:58

This one wont take off till the first years options have expired, its a
great fund though.

[dunnie] 15/10/2005 08:45

Hectorp,
what you mean is that you were annoyed when RAB sold part of it's stake in Griffin when you were holding,i don't claim to know everything about the way in which Philip Richards runs the SSFund but i do know a little.Richards knows how to trade illiquid stocks such as Oxus,Griffin etc. he will feed the rise and sell stock as and when the demand is there.I will give the example of Oxus a few years ago RAB had a large stake in Oxus and drip fed the stock into the market,selling from 3p up to 90p, the reason being if there is no stock on offer it kills interest and buyers move on to another stock, and at the same same time if you try and dump a line of stock when there is no demand either the mm's won't take it or it creates a stock overhang which also kills interest.

[energyi] 14/10/2005 19:09

That big exposure in FOGL is some concern, until we have evidence they
are back on track

[hectorp] 14/10/2005 19:01

Will they continue to reduce in OXS? It'll really annoy the shareholders.

[dunnie] 14/10/2005 18:56

The Special Situations Fund is down 2.35% month to date(up 9% prev. month) which is quite fantastic when you bear in mind the big falls in the resource stocks over the last week,Falkland Oil & Gas and Oxus Gold will have supported the fund from heavier falls but a 3% fall can be quite easily made up by the SSFund especially as the fund runs it's week from Friday to Thursday so this will not take into account today's recovery in the resource sector.

[ramellous] 14/10/2005 18:23

RAB's Richards Goes Nuclear in Picking Stocks for Hedge Fund
Oct. 12 (Bloomberg) -- RAB Capital Plc, a London-based hedge fund manager, increased its investment in companies that mine for uranium, betting concerns about global warming will make nuclear energy more popular.

RAB bought shares of Canada's Cameco Corp. and South Africa's Aflease Gold & Uranium Resources Ltd. in the past year for its $615 million Special Situations hedge fund and a 45-million-pound ($78 million) U.K. closed-end fund that mirrors the hedge fund.

Concerns that rising emissions from burning fossil fuels are warming the earth's atmosphere and contributing to storms like Hurricane Katrina are leading the public to reevaluate nuclear energy, said Philip Richards, RAB's 45-year-old chief executive officer, in an interview.

``There is a huge seismic shift in people's opinions,'' Richards said. ``Twenty years ago everybody hated nuclear power.''

RAB's hedge fund, registered in the Cayman Islands, rose 55 percent in the 12 months ended July 31, making it the best performing of the so-called event-driven hedge funds tracked by Bloomberg. Event-driven funds typically try to profit by investing in companies whose shares have been beaten down.

The net asset value of the RAB Special Situations Company Ltd. fund, whose shares trade on the London Stock Exchange, has climbed 19 percent since the shares began trading on June 1.

``They have had some very good ideas, but itÆs a risky fund,'' said John Godden, managing director of HFR Asset Management, which invests in hedge funds. ``Keep it away from your granny.''

Uranium Prices

Uranium surged 56 percent this year to about $32 a pound, according to data compiled by Bloomberg. The price will reach $100, said Richards, a former British army officer and Oxford University graduate.

Hedge funds are designed for customers with $1 million to invest and an appetite for bigger market bets than conventional funds. RAB's U.K. closed-end fund makes the same investment choices as the Cayman Islands fund, with shares that trade for 104.75 pence ($1.82) each.

RAB's closed-end fund has attracted clients, including Anthony Bolton, manager of Fidelity International's Special Situations Fund, who can't invest in hedge funds outside Britain, Richards said. Bolton wasn't immediately available to comment.

Richards invests in more than 300 companies, 70 of which arenÆt publicly traded. The RAB Special Situation funds have most of their money in energy and mining companies. Their biggest holding is London-based Falkland Oil & Gas Plc, whose shares have more than doubled in the past year.

``The main reason we invest in these companies is because they are very cheap and nobody has ever heard of them,'' Richards said. ``It's almost like they don't exist.''

Nuclear Outlook

U.K. Prime Minister Tony Blair last month said he may consider building new nuclear power stations, in part to meet commitments on curbing the gases that cause global warming.

Australia's Anglican Church in August ended a boycott of uranium mining firms for its pension fund, a turnabout for investors who in the past had used their investment muscle to resist funding the nuclear power industry.

Shares of Saskatoon, Canada-based Cameco, the world's largest producer of uranium, have gone up 82 percent in the past 12 months. Shares of Parktown, South Africa-based Aflease, the owner of South Africa's largest undeveloped uranium deposit, have more than tripled in the past year.

Richards also has invested in shares of companies involved in gold exploration as the price of the precious metal reached a 17- year high.

He added shares of Vancouver-based Tournigan Gold Corp., which mines for gold in Northern Ireland. Its shares have risen 16 percent in the past year. His other largest holding is Oxus Gold Plc, which mines for the metal in Central Asia and whose shares are up 9.4 percent in the past 12 months.

[dunnie] 14/10/2005 17:40

The Special Situations Fund is down 2.35% which is quite fantastic when you bear in mind the big falls in the resource stocks over the last week,Falkland Oil & Gas and Oxus Gold will have supported the fund from heavier falls but a 3% fall can be quite easily made up by the SSFund especially as the fund runs it's week from Friday to Thursday so this will not take into account today's recovery in the resource sector.

[rambutan2] 14/10/2005 17:01

energyi, i think that at the mo investors are a bit scared of rss. or they think that they can do better in their dabblings in minex etc. i imagine that if the discount widens into double figs rss will be happy to buy back and pull it in. as you say, i think its time will come.

[dunnie] 14/10/2005 13:16

RAB has reduced it's stake in Oxus, that is just good fund management when you see the rise in Oxus's share price recently.

Holding(s) in Company

RNS Number:6981S
Oxus Gold PLC
14 October 2005



news release


For immediate release: 14 October 2005


Oxus Gold plc

Holding in Company


Oxus Gold plc ("Oxus" or "the Company") received notification on 14 October 2005
pursuant to the provisions of the Companies Act 1985 that RAB Capital plc,
acting as investment manager for a number of commingled funds, has decreased its
shareholding by 4,290,000 ordinary shares and now holds 50,141,059 ordinary
shares of the company representing 17.43 per cent of the issued share capital.


RAB Capital does not act as a custodian for its clients and therefore the shares
are held in the nominee name of the custodian of our clients, which is CSFB
Nominees Ltd and Morgan Stanley & Co. International Ltd.


Ends


For further information, please contact:


Oxus Gold p

[energyi] 14/10/2005 10:47

RSS has failed to keep pace with the Gold Bugs index, HUI:

-Date- --RSS- --NAV- -Disc. --HUI- --GBP- PdHUI PH/RS Ratio
25.Aug 102.11 103.79 - 1.6% 201.29 $1.800 111.8 1.077 94.7%
15.Sep 103.79 108.50 - 4.3% 229.19 $1.800 127.3 1.173 81.5%
29.Sep 105.50 113.63 - 7.2% 248.36 $1.764 140.8 1.239 74.9%
30.Sep 104.50 114.50 - 8.7% 245.19 $1.763 139.1 1.215 75.1%
06.Oct 104.00 112.27 - 7.4% 237.40 $1.780 133.4 1.188 77.9%

This is disappointing, but unsurprising perhaps, given:

+ The fund is now very large, and includes a number of illiquid positions in energy-related shares (which have doen less well),

+ The smaller "junior companies" in which RSS typically invests do not do so well until somewhat later in the cycle,

+ The discount to NAV is widening towards a "more normal" 10%plus

= =

As I said earlier when I was buying OXS at 41p (now about 60p), it was likely to be a better investment than RSS. But that will not be true forever, and the ideal time to buy RSS may be approaching.