The former Rams Home Loan group (now RHG) will buy back up to ten per cent of its shares over the next year in the first step in its plans to return capital to shareholders in what amounts to a liquidation. RHG advised the ASX yesterday that a high level of uncertainty remains in the current market which will likely result in the group selling further mortgages at par in repayment of debts. RHG also published an unaudited profit for the year to June 2008 of $124 million, which includes a profit of $103 million from the sale of the Rams brand and franchise network at the beginning of this year to Westpac.
