Regal Partners Ltd V.RPL

Primary Symbol: VGIPF

Financial Services Asset Management

Regal Partners Limited is an Australia-based company, which operates as specialist alternatives investment manager. The principal activity of the Company is the provision of investment management services, specializing in alternative investments. It is engaged in managing a diverse range of investment strategies covering hedge funds, private markets, real and natural assets, and capital solutions on behalf of institutions, family offices, charitable groups and private investors. The Company has seven alternative investment management businesses: Regal Funds Management, PM Capital, VGI Partners, Taurus Funds Management, Attunga Capital, Kilter Rural, and Merricks Capital. The Company operates offices across Australia, Asia, United Kingdom/Europe, and North America.

OTCPK:VGIPF - Post by User

Regal Partners Ltd > RPL valuation better than WCP

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Comment by InvestorSuperfanon Apr 18, 2013 5:09pm

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Post# 21272313

RE: RPL valuation better than WCP

WCP's financial postion as at Dec 31, 2012 was much better than RPL's. WCP had drawn $310M on it's $450M credit facility (69% drawn). RPL had drawn $269M on a $325M credit line (83% drawn). The $13M "non-core asset sale" RPL announced (fire sale....?....I assume it was some or all of the Slave Lake properties) - won't reduce the debt load by much. RPL incurred a net loss of $0.32 per share for 2012, while WCP produced a net income of $0.46 per share ($0.45 diluted). Now WCP may now be fully valued and RPL unfairly beaten up (from a value standpoint), but no one can deny that WCP management has done a much better job so far in their conversion to a dividend-paying small cap O&G play.

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