Rasmala Share Discussion Threads

[cjohn] 30/12/2016 13:57

Just resting.

[hugepants] 30/12/2016 10:11

looking dead here

[hugepants] 11/12/2016 23:41

Oil starting to encroach on $60. RMA is not an obvious play on oil but given the Middle East economies are so dependent on the stuff this should help RMA. Also RMA started falling in 2014 in tandem with the collapsing oil price.

[hugepants] 19/10/2016 21:49

Chunky trade at 100p. Still think this should be twice the current share price.

[cjohn] 27/9/2016 11:18

Agreed.

The results weren't great, but given the discount to current assets, it doesn't matter

Just needs to be some sort of catalyst to out the value. The sale of the private equity or a bid?

[hugepants] 20/9/2016 20:18

A rather uninspiring set of interim results announced today.



No mention of progress on sale of the £20M private equity or on plans to address the "material" undervaluation of the companys' shares. Probably one is dependent on the other in that they can return £20M by way of a buyback or tender offer, once the private equity is sold.

The other thing is the low oil price generally hurting the middle east economies which isn't exactly helping RMA's business.

Still dead cheap though with NTAV of £86.5M (283p per share) which is nearly all net cash+cash equivalents+liquid investments+private equity

[hugepants] 14/9/2016 20:37

"...PIT manages our private equity investments which includes non-strategic positions. We are actively working towards exits in our non-strategic holdings. The total valuation of our non-strategic portfolio is £20 million (2014: £16.7 million)."

If they manage to add another £20M cash to the balance sheet then this stock will be bonkers cheap. Maybe we'll get an update on the progress of this in the interim results.

[rjmahan] 09/9/2016 00:54

Somers will generally aim to achieve a control position but is equally comfortable with a minority position if the purchase price is sufficiently attractive or the investment instrument offers a degree of protection. Somers aims to maximise value for shareholders by holding a reasonably concentrated portfolio of investments and maintaining a prudent level of gearing. These investments can be both unlisted and listed. Besides looking for “bolt-on”; opportunities, Somers hopes to extract synergistic benefits from the investee companies on both costs and revenue as investee companies are encouraged to collaborate with each other, share resources where appropriate and think smarter.

from hxxp://somers.limited/about-us/

[hugepants] 07/9/2016 21:10

Somers up to over 7% now

[cjohn] 19/8/2016 10:05

Hi Huge Pants, I think I probably came up with DRS myself...... Oh dear,

[russman] 16/8/2016 08:11

At least they have corrected the number of shares.
The financials are clearer now.

[hugepants] 11/8/2016 12:13

A new 6.33% shareholder



They took on the shares from the disposal announced yesterday.

[hugepants] 10/8/2016 20:59

CJohn, Yes I suspect this is the reason the shares dropped from the 140s to under 90. It was Al Salam Opportunities selling out.


Now that they are completely out may be a positive for the share price going forward. Interim results next month.


BTW. It definetly wasn't me that suggested DRS!

[cjohn] 10/8/2016 09:15

Hi Huge Pants,

Interesting development.

Also thanks for the heads up about DRS, where I took a position.

[hugepants] 31/7/2016 21:21

There was a holding RNS late on Friday. Somers Limited increased from 5.14% to 6.94%





Somers Limited is an investment holding company in the financial services sector

Somers Limited specialises in the financial services sector, and our target investments are primarily in the banking, wealth management and asset financing sectors.

Somers Limited is a platform for corporate investments and acquisitions in the financial services sector. The fallout from the 2008 financial crisis continues to provide attractive investment opportunities. Somers Limited will continue to make acquisitions in the financial services sector to meet our investment objectives, including acquisitions of both new investments and those which support existing investments within the portfolio.

[hugepants] 28/7/2016 20:46

There's been some big looking trades going through at 98p but not shifting the share price.

Still waiting for news on this.

"...we believe the current share price materially undervalues the Group and whilst confidence in our strategy and the building up of a track record is essential to create long-term value, we are considering short-term measures to support the share price..."

Current market cap of £30M at 98p compares with;

private equity and unlisted investments worth approx 85p (£25.8M)
net cash (and close to cash) approx 210p (£64M).
Currently trying to sell £20M or private equity

[hugepants] 06/7/2016 13:33

Is the £/$ exchange rate benefiting NAV here? RMA's accounts are in sterling but Id imagine they have significant $ exposure. I checked the accounts last night but it wasn't clear to me if they are hedging currency fluctuations.

[hugepants] 21/6/2016 15:08

All AGM resolutions duly passed yesterday.


Anyone know if there was a resolution authorising a share buyback!

[rjmahan] 13/6/2016 19:17

No could be interesting though...

[hugepants] 13/6/2016 18:09

AGM on 20th June in London. Anyone going?

[cjohn] 20/5/2016 11:15

Yes, you're right there.

[hugepants] 19/5/2016 21:09

Yes agreed although the tender last year was at NAV which looks more like a cash return than an attempt to support the share price which is what they are intending this time.

[cjohn] 18/5/2016 12:57

Hi Huge Pants,

I was buying quite heavily on the 16th. The discount to current assets is just too temtping, in spite of very slight concerns regarding how much the directors pay themselves.

the 20m tender offer last year is an indication however of a readiness to return cash.

[rjmahan] 16/5/2016 21:16

Always nice to get a mention :-)