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All of our actions are based on our 4Cs way of working. But if I bought at 1.6 I only need it to run back up abit to 3 and I have a hefty pay day…. This happened on June 2, with the effect being that after Wednesday (today), Remgro shareholders now own FirstRand directly. Integer is a “specialist mezzanine debt and equity lender” which partners “with reputable developers and investors”. It did a number of transactions following the Atterbury acquisition.

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newTweetLink.innerHTML = ' Tweet'; © 2020 Hastings Group Holdings plc. }) Investor Centre. optimise. You can get more information about how we use cookies in our Hastings Direct's £250,000 Covid-19 Community Commitment Grant Scheme supports over 150 local charities, Hastings Direct announces a further £50,000 for local charities as part of Covid-19 Community Commitment Grant Scheme, Hastings Direct launches £50,000 Covid-19 support scheme for local causes, Hastings Direct announces extraordinary measures to support NHS and frontline healthcare workers, Section 430 (2B) Companies Act 2006 Statements. "top": y, if (document.selection.createRange) { textParagraph.addEventListener("mouseup", function (e) { jQuery(document).ready(function () { } I was a client of RMB – and I have to say – they have become absolutely useless over the last few years! In a presentation to investors, RMH notes that “the exact impact on the RMHP portfolio in the near-term cannot be accurately forecasted at this stage”. tweetLink = createTweetLink(getSelectedText(), e); The property portfolio was never really valued by the market which saw RMH as nothing more than a proxy for FirstRand.

Following the RMI listing, it held as its only asset the FirstRand stake. Is it possible to make risk-free profits in crypto? return undefined; I think fairly good…, Without Remgro and RMH as anchor shareholders and founders influence, Firstrand management have gone bananas with political jostling and doing those things they couldn’t under previous control structures. It says that the valuation of the portfolio “is complicated due to the unlisted, development focused nature of the underlying businesses” and that “no adjustments have been made as yet to these valuations to reflect the impact of Covid-19”. Read: OUTsurance pays out Covid-19 business interruption claims.

oldTweetLink.parentNode.removeChild(oldTweetLink); Police lost R1.1bn of its budget, primary schools lost R276m and even people with disabilities had to contribute. Since then RMH has been a dedicated investment vehicle into FirstRand, one of South Africa’s most successful financial services groups.
"left": x This multidisciplinary artist, together with his team, has created an artwork that brings together the traditional craft of thatching with the cutting edge innovation of emergent behaviour theory, demonstrating in these uncertain times that outcomes are always better if achieved together. All rights reserved 2020.

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And, as with most investment holding companies, the discount to intrinsic value has widened in recent years, which helped RMH make the decision to unbundle the FirstRand stake. Investments. return newTweetLink; Post this unbundling (FirstRand shares should reflect in participating holders trading accounts by Monday), RMH will remain listed with RMH Property as its sole remaining asset. RMI then subsequently acquired 29.9% of UK insurer Hastings, built out an investment manager and acquired a portfolio of fintech businesses. Importantly, RMH Property does not own any physical properties and is not classified as a real estate investment trust (Reit). } Beyond the short-term impact of Covid-19, RMH Property says it will “continue to manage its existing investment portfolio that is anchored by the partnership with the Atterbury Group”. Our portfolio. By continuing to use our website, we assume you are okay with it. var newTweetLink = document.createElement("a");

The question u have to ask is what are the chances of it running back up to a 2.5 or even 3.5….. if (window.getSelection) { modernise. Rand Merchant Investment Holdings Limited. All rights reserved. if(mnyArticleGraphs == undefined){var mnyArticleGraphs = {};}mnyArticleGraphs.n1174874RMHData = {title: 'RMH intraday share movement',graphID:'1174874RMH',graphType: 'index',graphAction: 'intra',graphPeriod: '0',instrumentIDs: [{code: 'RMH', title: 'RMH', type: 'index'},]};jQuery(window).load(function(){getGraph( mnyArticleGraphs.n1174874RMHData );}); The unbundling was first announced in November and is described by the group as “a natural evolution in the 27-year association between RMH, the Founders and FirstRand and the appropriate next chapter for a business as mature, established and independent as FirstRand.”. return range.text if (oldTweetLink != null && typeof oldTweetLink != "undefined") { when they start cancelling getaway strategy sessions… you know things are not rosy. } At a 90% loss……. RMH's aim is to be a value-adding long-term partner, enabling leadership and innovation in banking and financial services. On 29 June 2020 RMH successfully concluded the unbundling of its interest in FirstRand, ending a partnership of 22 years. SA stocks slip to four-week low before budget statement, Covid-19 vs the financial crisis: Why the bank bad debts can’t be compared, SA stocks fall as virus cases surge and US stimulus deal elusive, Distell’s new remuneration policy gets the nod, Remgro results, conscious capitalism and extending income protection, Remgro declares final dividend despite Covid-19 fallout, Sabvest and the reform starved investment holding company sector, Joburg’s Jewel City set for further R1bn investment, Rand 67% undervalued vs dollar, claims The Economist Big Mac Index, OUTsurance pays out Covid-19 business interruption claims, Mid-term budget policy statement highlights 2020, Freedom of testation: don’t take this liberty for granted, Webinar recap: Making sense of the mid-term budget. function createTweetLink(text, e) { return range.toString() else { imageBtnPrev: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png", This comprised the 25% interest in Discovery, 27.3% stake in Momentum Metropolitan Holdings, 89% of unlisted OUTsurance. Hastings Group Holdings PlcConquest HouseCollington AvenueBexhill-on-seaEast SussexTN39 3LW. Do you understand why it is down 90%? } It will never go back up to 90….or even 20….. AGM. imageBtnNext: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png",
}, 500); Join our mailing list to receive top business news every weekday morning. RMB Holdings (RMH) shares traded 97% lower on Wednesday following the unbundling of its FirstRand stake to shareholders. Investor Relations Global Contacts RMB Holdings Ltd RMH Morningstar Rating Rating as of Oct 13, 2020. }); Also, it does not expect “to provide any further capital into any of its portfolio companies”. Form 8.5 (EPT/RI) - Hastings Group Holdings plc 15 Jul 2020 Hastings Direct's £250,000 Covid-19 Community Commitment Grant Scheme supports over 150 local charities function getSelectedText() { } The stake in Atterbury Property Holdings, since increased to 27.5%. RMI’s history as part of the RMB Group of companies allows it access to the skills, experience and lessons learnt over the last 35 years. OVERVIEW - RMB HOLDINGS LIMITED RMH was established in 1987 by the coming together of Rand Consolidated Investments owned by GT Ferreira, Laurie Dippenaar and Paul Harris and Rand Merchant Bank, then run by Johann Rupert. Contact. JohnDoe, RMB Holdings and RMB retail bank are two very different things. RMB Holdings was listed through a reverse listing when it took control of Momentum Life on 1 July 1992. Today, all those businesses have evolved into market leaders, loved and known by millions of South Africans. These values will have no doubt been affected by the Covid-19 pandemic and related lockdowns across the world. var oldTweetLink = document.getElementById("tweetLink"); RMI is the strategic, active manager of a multi-billion Rand financial services portfolio. var appendedTweetLink = document.getElementById("article-body-content").appendChild(newTweetLink); newTweetLink.href = "https://twitter.com/intent/tweet?text=" + encodeURI(text) + "&url=https://www.moneyweb.co.za/news/companies-and-deals/why-rmb-holdings-is-down-over-90/&via=Moneyweb"; It does not “currently receive dividends from its portfolio companies and only expects to do so once the capital structures of its portfolio companies are sufficiently de-leveraged over the next three to five years”. jQuery('html, body').animate({ I know of several individuals that have moved their portfolios away from RMB. We use cookies on our website to enhance its performance for visitors. Remgro results presentation for the year ended 30 June 2015 Remgro results presentation for the six months ended 31 December 2014 Remgro results presentation for the year ended 30 June … The negative effects are already showing in customer sentiment surveys and anecdotal client feedback, agree, the crack is deeper than what it seems.

This decision was not a FirstRand one? A number of stakes in Integer Properties funds.

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