Ip Share Discussion Threads

[brucie5] 03/5/2024 15:15

Something going on here: maybe related to the bottoming out of ONT and expiration of LAT shares in June? I foresee a return to recent resistance 58p; then watch for 61p to complete the W pattern on the bowl. If I'm correct last October was the absolute nadir of the three year peak to base. The next ascent maybe one to catch for the very patient.

On the WMAs the BO begins at about 51p. If it then manages to snag support it could be a cheaper price to buy in. IPO is such a hugely complex ball of tech that I don't think many understand nor seek to understand it; but as always, once momentum builds there will be trend followers.

One for the patient; but on anything from a one-two-three year view they could be well rewarded with a return to >£1.50. Just a shame there's no dividend to be getting on with - though there is continual cancellation of dividends, which means more bang for your buck!

NAI.

[houseofpain1] 02/5/2024 16:08

Our chat seems to have moved the shares from -3% to +3%, Brucie - we should do it more often!

[brucie5] 02/5/2024 11:57

Lols - anything I say comes with a wealth warning! Thanks for the update on feature space. Yes, lots of unappreciated value here, but what of it!? I'm afraid I place more weight on the charts than most, perhaps unduly; since these suggest that in fullness of time this will go up and history will at least rhyme. My hot money has passed recently to ONT, which I expect to be as a warrant on any future revival here, which in the meantime will continue to bumble along the bottom.
As a positive, and aside from opportunity cost, IPO extreme value + balance sheet strength should not cause too many sleepless nights.

[houseofpain1] 02/5/2024 11:01

Kiss of death from you there Brucie...!

Separately, interesting to note that Chrysalis have written up the value of their holding in Featurespace by 21.5% giving the business an implied valuation £638.1m. The valuation implied by IP's carrying value as at 31 Dec 23 was £357.8m. CHRY's valuation is as at 31 Mar 24 and if you adjust IP's valuation up by 21.5%, you get to £434.7m. No idea which valuation is correct - quite possibly neither - but it should give some reassurance that IP is not being overly aggressive (or at least less aggressive than others!) and may give an indication of meaningful upside from this position.

[brucie5] 26/4/2024 12:10

IPO looks like it might be coming up for air? On a potential recovery the five year chart is impressive.

[bamboo2] 23/4/2024 20:54

IP Group - 2023 Annual Report; Notice of Annual General Meeting ("AGM")

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, announces that it has published its Annual Report and Accounts for the year ended 31 December 2023.



In compliance with Listing Rule 9.6.3, a copy of the following documents will shortly be available for inspection at www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.



- Annual Report and Accounts for the year ended 31 December 2023 ("2023 ARA"); and

- Notice of 2024 Annual General Meeting ("2024 AGM Notice").



Printed copies of the 2023 ARA and the 2024 AGM Notice, together with the Form of Proxy for use in connection with the 2024 AGM, are being posted to shareholders who have requested hard copies.



An electronic copy of the 2023 ARA is available on the Investor Relations section of the IP Group website at www.ipgroupplc.com/investor-relations. A copy of the 2024 AGM Notice is also available electronically on the IP Group website at



The 2024 AGM will be held at 11.00am on 12 June 2024 at the Company's offices at 3 Pancras Square, King's Cross, London, N1C 4AG, as further set out in the 2024 AGM Notice, with refreshments available from 10.30am. To ensure that shareholders can also follow the proceedings of the AGM virtually, the Company will provide access online via the Investor Meet Company platform. However, please note that shareholders will not be able to vote online at the AGM via this platform. Shareholders are only able to vote at the AGM either in person on the day or by proxy in advance. Shareholders are encouraged to submit their votes via proxy as early as possible, as further detailed in the 2024 AGM Notice.

Whilst live questions will be accepted on the day, in order to facilitate the smooth running of the AGM, shareholders are encouraged to submit any questions for the Board to consider via the Investor Meet Company platform up until 9am the day before the AGM. Shareholders can also submit questions in advance by email to [e-mail] up to 48 hours prior to the time of the AGM.

Shareholders that wish to attend the AGM remotely should register in advance by using the following link:

[brucie5] 11/4/2024 19:05

October low was 44p. Ont was about 2.40 at the time.
It reached 40 in 2020, an historic low, so we're near as.
I think it will continue to fluctuate within a band up to 60p, before any take off.

[p1nkfish] 11/4/2024 16:27

Each to their own but prefer to find something that is already trending higher with a macro back-wind and management that know how to steer the ship. Makes life a little easier and less stressful. This will turn but no amount of my trying to predict it has succeeded so I've given up trying.

A catalyst needed that might be a sale of a holding etc.

[brucie5] 11/4/2024 12:21

Bought a few this morning, which I will probably trade until the new trend becomes clear. We can probably quite reasonably expect a rise to say, 53p level just on white noise?

[brucie5] 09/4/2024 15:37

Oakbloke is a fan. This from his recent musings. He doesn't always get it right, but he does put in the research. I think personally the question about FL is whether/to what extent it is actually accretive of value, without the kind of breakthrough that would see it producing commercial energy. I imagine far more likely that its IP would be sold off to help a larger entity get to that point.

IP Group
I recently spoke about the IPO FY23 results. A reader speculated that Nuclear Fusion is “commercially still way off in the distance - even 20 years is optimistic.” They may be right. But does that mean a holding like First Light Fusion cannot prosper while governments pay to make it happen? Like the US did this week. And especially if you can demonstrate progress. This week IP Group’s First Light Fusion announced a world-record pressure achievement of 1.85 Terrapascals (vs a previous 1.5 TerraPascal) using a US “Z machine” which has a 80 Terrawatt peak power - using the amplification technology of First Light.

First Light is pursuing a form of inertial confinement fusion called projectile fusion, which creates the extreme temperatures and pressures required to achieve ‘fusion’ by compressing a target containing fusion fuel using a projectile travelling at a tremendous speed. This differs from approaches pursued by other mainstream fusion companies in that it doesn’t involve using complex, energy-intensive, expensive lasers, or magnets. Without the need for hugely complex and expensive lasers to facilitate the fusion reaction, this is a simpler, cheaper, more energy-efficient approach to achieving fusion with lower physics risk. The amplifier massively increases the pressure delivered from the impact of the projectile, necessary to achieve fusion. First Light has had its first shot on the Z Machine and later this year gets two more shots and believes it can further increase pressure. More TerraPascal records to follow, reader!

I firmly believe this is a great opportunity - and people like Bill Gates thinks Fusion a great opportunity too. Where Gates open, others follow through.

[bamboo2] 09/4/2024 13:31

Discount on NAV could be removed if management accepted the current market valuation.

Any reason why they shouldn't do this?

Apart from their NAV based free shares that is...

[p1nkfish] 09/4/2024 13:14

Not convinced it would yet. Needs a catalyst or event. Either specific to IPO or holdings or some macro outside of IPO. Discount has been substantial for a while. Whats new about that?

[dennisbergkamp] 09/4/2024 12:48

Question is what sort of discount do we have on nav.

That’s what would get us moving back up.

D

[p1nkfish] 09/4/2024 12:44

Not for me that one.

[brucie5] 09/4/2024 11:45

Add CWR to that list - a former stable horse at IP, I believe. Results due shortly.

[p1nkfish] 09/4/2024 10:28

Keeping an eye on the ski-slope, yes.
Have an idea of what indicators to watch to signify a possible turn.

IPO and ONT are victims of the market, they just have to stick to their knitting until sentiment changes. Have learnt the hard way not to be a martyr to a good idea/company/product if the wider market doesn't care. A recipe for capital erosion and substantial opportunity cost. Sadly. IPO and ONT are both really neat.

[brucie5] 09/4/2024 10:13

Thanks, will watch.
You looking at ONT?

[p1nkfish] 09/4/2024 09:53

Brucie, there is much to be optimistic about on the deeptech and bio fronts but certainly doesn't mean it will move soon. The market doesn't care and has bigger fish to fry. First signs the market does care I will look to jump in but who knows when???
Keep eyes on the price vs volume and see what that indicates. Until then it's dead money when you can get a decent lower risk return elsewhere. This has illiquid holdings, risk and not a good cash distribution. Why rush in until there is a sign of change in market interest?

I held this too long last time, made money time before. Don't want to repeat the poor performance again.

[brucie5] 09/4/2024 09:25

Thanks pinkfish, good to see someone long term optimistic. It's easy to forget that this chart did go up several times - as well as down! Are you able to share the link please?

[p1nkfish] 08/4/2024 13:12

CEO interview out not partly touching on validation of valuations by 3rd parties. EDISON.

Make of it as you will.

One day it will recover. When it does it will probably have a long period of appreciation toward 150p or higher. No need to rush to buy as less risky once trend is confirmed as there can be many a false dawn. Prefer to miss the first few per centage points if it saves a few months or years trapped.

[p1nkfish] 05/4/2024 17:27

The buyback is to offer some liquidity else no one would exit without driving this into the ground. If there was decent liquidity I doubt there would be a buyback in process.

Weinstein is working on 2 main principles imho.
1) He's buying where there is a large discount,
2) He's buying where the underlying holdings are themselves undervalued too - some quality UK listed mid caps held in the funds.

IPO meets 1 and fails 2.
He has more sense than work on IPO as it's a trap.
It's illiquid, it's holdings are illiquid and, largely, valuations of holdings are not market proven. He's not stupid.

[brucie5] 05/4/2024 16:57

Yes, aware of the technical breakthrough at FLF, though I'm not yet convinced that this brings it much closer to being a 'business' so much as an important contribution to experimental advances in the science of NF. I expect this will be the eventual value of it an acquirer.
While I get your point about buybacks, it would be nice for shareholders to be rewarded to some degree in some way! How about some special dividends based on profits of any next sales? Normally, investors are agreeable to taking share price growth in lieu of income, but as we all know, that advantage hardly applies here!
One for believers only!
In the meantime ONT travels forever southerly to where I expect it to fetch up at £1 quite shortly.

[apple53] 05/4/2024 10:07

1) BBC article on First Light Fusion

2) 'Weighing in' on the div/buyback debate. I believe last year's div totalled c. £13m. As long as it really is true that very very few shareholders require a dividend (and let's be honest it wouldn't have been in many income funds), then I prefer to see this money spent as buybacks, instantly creating 6-7m of value (more if you believe the NAV). Clearly I would like to see buybacks of 5-10x this figure. This would really make a difference. Most boards have come to the conclusion that buybacks are relatively ineffective at narrowing discounts, and it is hard to find good evidence for it. The silver lining is more opportunity to create a lot of value by buying at high discount. However, I think PIN (pantheon) is a good example - a massive tender and consistent buybacks seems to be having an effect.

3) Does anyone know Boaz Weinstein? - surely IP Group fits his bill at Saba.

[brucie5] 23/3/2024 10:00

I think it's just a very slow burner;the underlying top 20 shares are progressively building out value, while absolutely nothing in it for the rest. And meanwhile, ONT is still to reach absolute nadir. One for the patient.