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Frankers70. The two RNS from September 2016 reveal that THAL spent £3.6m on 10.438m shares in LSR and £2.05m on another 6.225m shares in LSR. The first RNS indicates that an initial batch of 2.43m shares were acquired for an undisclosed amount. Assuming that these shares were acquired at a similar price to the 10.438m shares would imply a total spend of c. £6.5m or a blended in price of 34p per share. At today's LSE share price THAL are down roughly 10% on their investment. And no dividends have been received in the interim. However, like THAL, LSR is itself undervalued relative to NAV. According to the latter's H1 results NAV is 43p. So there is hope that as the wind down of LSR's portfolio continues this gap will close
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