Share Name Share Symbol Market Type Share ISIN Share Description
Brainspark LSE:BSP London Ordinary Share GB00B50P5B53 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 4.25p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.0 -7.0 -24.0 - 7.70

Brainspark (BSP) Latest News

More Brainspark News
Brainspark Takeover Rumours

Brainspark (BSP) Share Charts

1 Year Brainspark Chart

1 Year Brainspark Chart

1 Month Brainspark Chart

1 Month Brainspark Chart

Intraday Brainspark Chart

Intraday Brainspark Chart

Brainspark (BSP) Discussions and Chat

Brainspark (BSP) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type
View all Brainspark trades in real-time

Brainspark (BSP) Top Chat Posts

DateSubject
27/9/2016
09:20
Brainspark Daily Update: Brainspark is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker BSP. The last closing price for Brainspark was 4.25p.
Brainspark has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 181,209,377 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Brainspark is £7,701,398.52.
03/7/2012
16:43
30k: you look at it rationally: 16m quid (net assets) back in 2011 end Shares in issue around 50m on average. share price fell from 80p to around 20p in the period. It was a brutal period. This is a reflection of the past. Not the present. Only issue on this would be the lack of forward looking statements or news. Even clues, which is a shame as usually there is some indication.  But since then: £2.824m of debt has been cleared, and at 35p per share. So the "dilution" in share price, is quite the opposite. Higher SP, and actual reducation in debt (thus increase in net assets). Hence net assets closer to 19m. We were told the rest of the bond holders will convert but not confirmed right? £2m was raised for working capital as well as investment money, plus another £575k for working capital. So even if you wipe that and count as zero (which wouldn't be the case as a lot of that 2m will be used for asset purchasing) to count as "zero" will be overly prudent. Purchases in the year with shares, increases % assets in SoSushi to a controlling stake as well as Sipiem SPA, hence again the increase in shares offsets to direct asset increases. Of which should have performed well. Both SoSuhi and Ora have been performing well in the 2012 year. They didn't do badly in 2011. Asset increase is unknown as not stated, but it is in the multiple millions. Further asset purchases of Sixlove. Again recent. Hence worst case the share price is still worth excess of 26p a share given the fact, "89m shares" (estimated 25m odd net assets including income from Ora) responses directly to some serious lift in % owned in these investment assets. In some cases 20% to 51%. And a direct impact of the bond holder being removed.  Which is around where the analyst gave their pre NAV updated targets.  If they sold today we would be very rich investors. Maybe they should. The 11m write off does not correspond to the 2012 year. Its not bad news.  Ultimately the statement that "mediapolis due in 2012" needs to be corrected. They need to shed more light on that as its been grossly delayed and there is still no clarity. Agreed they need to actually give a full updated statement on Mediapolis. Hopefully with the updated NAV / mid year update that's should hopefully be published quite soon.  But many of us invested in BSP at these levels, 10p etc, which is still grossly under priced by the market. Further small PIs wont move this so until they show cash in hand from real sales, and improvements, the share price will linger. But even one minor institutional buyer will send this back up above 10p+. And I cant see it being a long hold. Not since the mediapolis mortgauge has been lubricated.
02/7/2012
12:06
longshanks: I am not too bothered what the PR man says - I have made my own assessment as to what the NAV is and even with the most generous of discounts I still come up with a value far in excess of the current market cap. You are right that NAV is irrelevant compared to NAV/share - but that is not the most important criteria for establishing if the share price is too low. From a shareholder perspective, the most important criteria is the NAV discount/share. We would need the company to further issue more than 300m shares at the current sp(for no additional increase in NAV) to see my "conservative" estimate of the NAV/share reaching parity with the current share price That is what I mean when I say the discount is way out of balance with reality - the share price is too cheap - simple as. The assets aren't liquid enough but any move to improve their liquidity and we will see a sharp re-rating of what is an acceptable discount. "Working capital issue" or "Development capital commitment" vic? The company acquired a majority stake in YOUCAN on the basis that they had resources to fund the company's development. They need to raise €500K before the end of the year to honour that commitment - will they - probably - but how is another matter. I'm getting bored now - will disappear for a while until we get something worth talking about.
27/6/2012
08:35
mildred49: The key damning evidence against BSP, BSP Management and the BSP rampers is that supplied by Beaufort. (Not really heard of them much so they must be pretty small beer but hey BSP Management chose them to supply them with 'services'). Beaufort's research indicates that the value of BSP has crashed from 55p per share to 26p per share. Apparently halving the value of the company is seen as a great achievement and we should trust the management to continue this hugely impressive record of negative growth and shareholder value reverse-creation. If we extrapolate this performance one can envisage that Value per share could fall to 0p if that rate of 'performance' is maintained. -------------------- Of course you can't just judge a company or a share price by what analysts say. It is worth keeping an eye on what Management say. They are after all your agents, so would be nice to think they are competent and will not lie when undertaking their duty on behalf of you the principal / shareholders. On that basis the RNS of 24th April does raise some eyebrows... 24th April 2012 The Directors of Brainspark have noticed a sharp decline in the Company's share price since the start of April and know of no reason for this. Further, they wish to reassure shareholders that day to day operations continue as normal and the Company has sufficient cash in the bank to fund operations until the conclusion of the Mediapolis / Sorgente land sale. IF THEY HAVE SUFFICIENT CASH, WHY ARE THEY ISSUING SHARES ? The Board also wishes to reassure shareholders that any future issue of new shares or raising of cash will only be in relation to the acquisition of, or investment in, new companies for the investment portfolio. The Company is currently negotiating with a number of new companies in the real estate and leisure sectors and hopes to announce the investment in one or more of these in due course. The new investments will be paid for using Brainspark ordinary shares at a price not less than 15 pence. THEY CLAIMED THEY WOULD ONLY ISSUE SHARES FOR NEW COMPANIES AND THEY WOULD NOT ISSUE AT LESS THEN 15p LIKE IT OR NOT THEY ARE INVESTING IN OLD COMPANIES AND ISSUING AT LESS THAN 15p ------------ Finally it is worth noting that the Exec Chairman of Brainspark is a CTA i.e. some sort of chartist. What would he make of the BSP chart which shows no support until 0-1p, a big gap down to that level, and also a long downtrend, lower highs and lower lows etc etc I'd say the chart is looking terminal and set for 0 to 1p level but I'm not a qualified Chartist so maybe those close to the company can get his expert opinion on the chart and where the share price is headed ?
27/6/2012
08:28
kablinsky: mildred49 26 Jun'12 - 20:14 - 4135 of 4145 LOL plenty more where that came from. The key damning evidence against BSP, BSP Management and the BSP rampers is that supplied by Beaufort. (Not really heard of them much so they must be pretty small beer but hey BSP Management chose them to supply them with 'services'). Beaufort's research indicates that the value of BSP has crashed from 55p per share to 26p per share. Apparently halving the value of the company is seen as a great achievement and we should trust the management to continue this hugely impressive record of negative growth and shareholder value reverse-creation. If we extrapolate this performance one can envisage that Value per share could fall to 0p if that rate of 'performance' is maintained. mildred49 26 Jun'12 - 20:18 - 4136 of 4145 Of course you can't just judge a company or a share price by what analysts say. It is worth keeping an eye on what Management say. They are after all your agents, so would be nice to think they are competent and will not lie when undertaking their duty on behalf of you the principal / shareholders. On that basis the RNS of 24th April does raise some eyebrows... 24th April 2012 The Directors of Brainspark have noticed a sharp decline in the Company's share price since the start of April and know of no reason for this. Further, they wish to reassure shareholders that day to day operations continue as normal and the Company has sufficient cash in the bank to fund operations until the conclusion of the Mediapolis / Sorgente land sale. IF THEY HAVE SUFFICIENT CASH, WHY ARE THEY ISSUING SHARES ? The Board also wishes to reassure shareholders that any future issue of new shares or raising of cash will only be in relation to the acquisition of, or investment in, new companies for the investment portfolio. The Company is currently negotiating with a number of new companies in the real estate and leisure sectors and hopes to announce the investment in one or more of these in due course. The new investments will be paid for using Brainspark ordinary shares at a price not less than 15 pence. THEY CLAIMED THEY WOULD ONLY ISSUE SHARES FOR NEW COMPANIES AND THEY WOULD NOT ISSUE AT LESS THEN 15p LIKE IT OR NOT THEY ARE INVESTING IN OLD COMPANIES AND ISSUING AT LESS THAN 15p mildred49 26 Jun'12 - 20:21 - 4137 of 4145 Finally it is worth noting that the CEO of Brainspark is a CTA i.e. some sort of chartist. What would he make of the BSP chart which shows no support until 0-1p, a big gap down to that level, and also a long downtrend, lower highs and lower lows etc etc I'd say the chart is looking terminal and set for 0 to 1p level but I'm not a qualified Chartist so maybe those close to the company can get his expert opinion on the chart and where the share price is headed ? mildred49 26 Jun'12 - 20:24 - 4138 of 4145 Exec Chairman sorry not CEO mildred49 26 Jun'12 - 20:35 - 4139 of 4145 LOL former ramper turned de-ramper, get his stuff copied kaplinksy moreforus 26 Jun'12 - 20:31 - 2124 of 2124 BGE many thanks matey....we do have another seller - they are called Westhouse and their client is BSP...I understand hry could have roughly 11 mill to sell.... mildred49 26 Jun'12 - 21:55 - 4140 of 4145 I've heard naive and gullible PI's spout some drivel but this takes the biscuit ! Bobs Good Eye 26 Jun'12 - 20:59 - 2126 of 2128 m4 - difference is they are not distressed as the bondholder was. Yes, they have a timetable but lots of news between now and the end of the year to drive share price (and thus amount of shares for Westhouse to shift) mildred49 26 Jun'12 - 21:58 - 4141 of 4145 What is a 'distressed bondholder' ? A Convertible bond holder ! Distressed ? Why ? They rank ahead of equity shareholders in event of administration so have downside protection. They can convert into equity if there is upside risk. And they also get interest income from their Bond. And they are distressed ? Goodness what are shareholders who have seen the shares slump from 30p to 4p ? mildred49 26 Jun'12 - 21:59 - 4142 of 4145 supercity 26 Jun'12 - 20:53 - 2125 of 2128 Westhouse still have £486,000 of shares to sell and BSP are trying to convert the bondholders near £4,000,000 in to shares (of which we believe the last lot were sold) so i wouldn't get carried away thinking the selling is done just yet. mildred49 26 Jun'12 - 22:03 - 4143 of 4145 Presumably these bondholders won't be 'distressed' and will drive a harder bargain than the 'distressed' bondholder who took equity at 35p Let's say this bondholder takes shares at 5p , that will be an additional massive dilution and overhang of about 80m shares. Immediately reducing Beaufort's target price to 13p per share ? Add the the other 11m shares to Westhouse and you are looking at the NAV per share falling to what ? 10p per share ? Given this is a Conglomerate it deserves a discount to SOTP Given it is in an economy as poor as Italy's it deserves a further discount. Given it is an illiquid portfolio it deserves a further discount. 5p per share starts to look 'overvalued' mildred49 26 Jun'12 - 22:06 - 4144 of 4145 I think this is looking like a huge short opportunity now. Reminds me of the Banks in 2008. Everyone knew they needed money so the shorts shorted the stock knowing there would be a supply of equity from Rights Issues and the lower the price went it became a more and more desperate situation and became a self-fulfilling prophecy. The fabled vicious spiral down. mildred49 27 Jun'12 - 08:02 - 4145 of 4145 wakey wakey kaplinsky you seem to be slacking off ?
22/6/2012
07:05
longshanks: Nice to see an RNS explaining stuff. The €150K was nominal value of increased You Can stake based on current BSP share price. Was this a scenario missed on this board? Given YOU CAN made EBITDA of €0.3m and applying an EV/EBITDA of 10 makes a prospective value of €0.465m for the 15.5% acquired - not bad for €150K of "expenditure". 29 RNS' in the current calendar year - this company wants to make waves in the AIM paddling pool.
15/6/2012
16:11
supercity: six weeks ago...six weeks only "The Company is currently negotiating with a number of new companies in the real estate and leisure sectors and hopes to announce the investment in one or more of these in due course. The new investments will be paid for using Brainspark ordinary shares at a price not less than 15 pence." since then Further, the Board is in the process of speaking to all existing creditors in order to convert their outstanding cash debt positions, including interest, into Brainspark Ordinary shares then 1st june It is understood that the market's attention is, at this time, focused on this particular transaction as it will provide a much needed injection of capital into Brainspark.....MUCH NEEDED!!! and today SHARES ARE TO BE ISSUED AT BELOW 15P according to thE rns. Is it really any wonder the share price reacts the way it does...i really can't see any reason to be confident in bsp shares rising from here no matter how undervalued it continues to look to nav. What's to say all these new issues won't be sold straight on and bsp have said today they will issue more shares in to any strength in their share price... " Westhouse has agreed that it will offer the New Shares to the market in tranches. The Company has agreed to conditionally place the New Shares with Westhouse to the extent that there is market demand for them. The Company will then issue the New Shares to meet this demand" £500,000 worth which even at 5p would be another 10,000,000 (estimated price). It stays on my monitor but i see no reason to be buying in the near future or at this level. imo. dyor. ...and for anyone unsure read through all this years rns releases in order from january and make up your own mind.
31/3/2012
13:41
7bore: Date...............................31 Mar 12 Name...............................Brainspark (BSP) Shares in issue ...................69,972,710 share price........................13.75p Mkt Cap............................£9.62m NAV (company) 30 Jun 11............£15.9m NAV (Beaufort estimate) 04 Jan 12..£34.32m (49p/share) Bondholder payment 23 Mar 12.......£2.824m at 35p/share BSP have sold the Mediaplois Land for EUR25m of shares but have kept the Development Contract to run Mediapolis until 2017: Mediapolis Land sale by 31 Mar 12..£20.9m(EUR25m) worth 30p/share. Mediapolis Contract (2012-2017)....EUR6m,expected to be "substantially higher" Beaufort Note (04 Jan 12)compared BSP to 15 similar peers and said their discount to NAV ranged from 0% to 35% with an avergae of 27%: NAV 04 Jan 12 ..............£34.32m (49p/share) 00% discount to £34.32m.....49p/share 27% discount to £34.32m.....35.8p/share 35% discount to £34.32m.....31.88p/share ------------------------------------------------------------------------------ BEAUFORT RESEARCH NOTE - 04 JAN 12 http://www.brainspark.com/_templates/directory_template_bps/doc/circulars/equity_research/Brainspark%20-%20Research%20January%202012.pdf Valuation of Brainspark Portfolio (page 36) Estimated Group Value =(£)34.32m Peer group Comparison – Quoted Private Equity Investment Companies (page 35) 15 similar listed private equity peers were comnpared and found to have an average discount to NAV of 27%. These "typically trade between a nil and 35% discount to NAV." (page 1). With the current 69,972,710 shares in issue this gives the following valuation based on the discount to NAV of 15 of BSP's peers: 00% discount to £34.32m.....49p/share 27% discount to £34.32m.....35.8p/share 35% discount to £34.32m.....31.88p/share ------------------------------------------------------------------------------ MEDIAPOLIS EUR25M LAND SALE (excludes EUR6m+ development contract) 09 Mar 12 RNS "Mediapolis sale of the physical land to Sorgente Real Estate Fund for EUR 25 million (payable in shares in Michelangelo II Fund)expected to close on or before 31 March 2012." However, BSP considers the EUR25m of shares as "NEAR CASH" as "There are no hold conditions attached to these shares" and "Brainspark has already received expressions of interest." to buy them according to the Beaufort Research Note, dated 04 Jan 12. Beaufort also went on to say "It would not be unrealistic to anticipate the disposal of the larger part of these shares in the relatively near term ", and that was nearly 3 months ago. So BSP may also issue RNS's shortly after the EUR25m sale realising cash, possibly at a premium for "larger part of these shares" as they are unquoted. To give an idea of the value of the fund that BSP are about to receive EUR25m shares in: "With currently more than EUR 170 million of assets under management, Michelangelo 2 is managed by the giant Sorgente SGR, a leading real estate management company with over €2bn of assets under management, including some of the world's most iconic buildings, such as the Chrysler Building (recently sold) and the Flatiron in New York and Galleria Colonna in Rome." ------------------------------------------------------------------------------ According to LSE poster "fagan1959" on 30 Mar 12, he received an email from BSPs PR guy which said: "We announced earlier in the month that the Mediapolis deal will conclude on 31 March and as at this time, I believe the time frame is still good. We will look to provide an up to date NAV aalong with a trading update after Easter" So it looks like we have the following to look forward in the next week or two: 1.....EUR25m (£20.9m) Mediapolis Land sale worth 30p/share. 2.....Trading Update 3.....NAV update 4.....Broker Note update possibly? 5.....RNS for sale of the "larger part" of the EUR25m shares for cash.
28/3/2012
12:03
7bore: Date...........................25 Mar 12 Name...........................Brainspark (BSP) Shares in issue ...............69,972,710 share price....................15.00p Mkt Cap........................£10.49m NAV 30 Jun 11..................£15.9m NAV 04 Jan 12 (Beaufort Note)..£34.32m (49p/share) NAV 25 Mar 12..................£34.32m+ (49p+/share) Mediapolis sale by 31 Mar 12...£20.9m(EUR25m) worth 30p/share. Two very important dates imminent: 29 Mar 12 (Thur) http://uk.advfn.com/news/UKREG/2012/article/51750848 "Application has been made for Admission of the 37,910,857 new Ordinary Shares which is expected to occur on 29 March 2012. " "Brainspark announces that it has agreed with a bond holder to convert bonds worth GBP2,824,800 including accrued interest into 8,070,857 new Ordinary Shares at 35 pence per share. " "Brainspark, the AIM listed investment company, is pleased to announce that further to the announcements of 28 June 2011, 19 October 2011, 8 November 2011 and 4 January 2012, ": 8 Nov 11 RNS (referred to above) - "The consideration for the acquisition was EUR 4.15 million which will be satisfied through the issue of 7,150,000 Brainspark new ordinary shares at a price of 50 pence per share" 31 Mar 12 (Sat) Mediapolis EUR 25m (£20.9m,30p/share)sale to complete by 31 Mar 12. http://investegate.co.uk/Article.aspx?id=201203091007360490Z "Mediapolis sale of the physical land to Sorgente Real Estate Fund for EUR 25 million (payable in shares in Michelangelo II Fund)expected to close on or before 31 March 2012." "The contract for the sale of the land was signed on 31 December 2011 and is expected to close on or before 31 March 2012." ""Finally, following the issue of these new shares, the ratio between the Company's market valuation and the net asset value of the portfolio is still very strong." Some investors and de-rampers are worried about the issue of the 37,910,857 new shares being admitted to AIM tomorrow. I would say the following: 1.....Its already factored into the price as this was announced last Friday,23 Mar, and the share price has strengthened since then. 2.....One of the reasons for the strengthening was the uncertainty about the actual amount of shares in issue and hence value of the company. This uncertainty was removed. 3.....Also, holding the share price back slightly imho is the issue of the 37.9m shares tomorrow. As can be seen above, of the 37.9m shares being admitted to AIM tomorrow, the bondholder just took 8m sat 35p/sharte and another 7.125m were issued at 50p/share. So thats already 1om that clearly won't be sold (would you buy at 35p/50p then sell at 14p?). That leaves around 27.9m shares that could,in theory, be traded tomorrow. But again, would you sell any of these knowing that there is an official RNS clearly stating that there is an extremely valuable asset sale of £20.9m (worth 30p/share) going to be announced between 1 - 2 days later? I believe that even if there is a slight dip tomorrow morning due to any worries, the share price will recover quite rapidly during the day as people realise their fears were unfounded and everyone starts buying knowing that the £20.9m is due 1-2 days later. So it might be wise to hold tight in the first hour or so ready for the re-bound...thats assuming there are any sellers of course ! 4.....Some nervous investors/de-rampers may bring up the issue that BSP are not receiving cash but are receiving EUR25m of shares. Thats a valid point...but EUR25m is STILL EUR25m and BSP have already been approached to buy a "larger part of these shares" several months ago as they are in a very sought after Real Estate Fund. 09 Mar 12 RNS "Mediapolis sale of the physical land to Sorgente Real Estate Fund for EUR 25 million (payable in shares in Michelangelo II Fund)expected to close on or before 31 March 2012." However, BSP considers the EUR25m of shares as "NEAR CASH" as "There are no hold conditions attached to these shares" and "Brainspark has already received expressions of interest." to buy them according to the Beaufort Research Note, dated 04 Jan 12. Beaufort also went on to say "It would not be unrealistic to anticipate the disposal of the larger part of these shares in the relatively near term ", and that was nearly 3 months ago. So BSP may also issue RNS's shortly after the EUR25m sale realising cash, possibly at a premium for "larger part of these shares". "With currently more than EUR 170 million of assets under management, Michelangelo 2 is managed by the giant Sorgente SGR, a leading real estate management company with over €2bn of assets under management, including some of the world's most iconic buildings, such as the Chrysler Building (recently sold) and the Flatiron in New York and Galleria Colonna in Rome."
23/3/2012
15:28
7bore: Date..............23 Mar 12 (updated for new shares) Name..............Brainspark (BSP) Shares in issue (Before)..32,061,853 share price (before)......13.75p Mkt Cap (before)..........£4.4m Shares in issue (After )..69,972,710 share price (after).......15.00p Mkt Cap (after)...........£10.49m NAV 30 Jun 11.....£15.9 million NAV 31 Dec 11.....£34.32m (107p/share) with old 32,061,853 shares in issue NAV 23 Mar 12.....£34.32m (049p/share) with new 69,972,710 shares in issue New shares are as expected. Previous estimate was for around 65m. New total 69.9m. This means we now have this uncertainty out of the way, which was one of the things holding the share price back. We now have certainty and we now know we have a current mkt cap of £10.49m @ 15p v NAV of £34.32m (49p/share). Most importyantly though is the bond issue @35p/share: "In addition, Brainspark announces that it has agreed with a bond holder to convert bonds worth £2,824,800 including accrued interest into 8,070,857 new Ordinary Shares at 35 pence per share."...now thats confidence! Finally, Alfredo Villa, CEO of Brainspark commented: ""Finally, following the issue of these new shares, the ratio between the Company's market valuation and the net asset value of the portfolio is still very strong." AND WE ARE STILL ABOUT TO RECEIVE EUR 25M (£20.86M) BY 31 MAR 12: (and $3m cash for Bipop sale): 09 Mar 12 RNS: "Mediapolis (69.12 per cent. owned by Brainspark) will remain the real estate division of Brainspark following the recent sale of the physical land to Sorgente Real Estate Fund for EUR 25 million. The contract for the sale of the land was signed on 31 December 2011 and is expected to close on or before 31 March 2012."
22/3/2012
20:26
7bore: Name..............Brainspark (BSP) Shares in issue...32,061,853 share price.......13.75p Mkt Cap...........£4.4m Date..............22 Mar 12 On 06.01.12 there were 18,961.540 shares in issue. On 04.01.12 Beaufort put out a Research Note using the extra Bond Issue shares outstanding saying there would now be a total of 51,836,853 shares in issue once the dilution from the 04 Jan 12 bond issue is resolved. On 23.02.12 there were an extra 13.125m shares issued via a Placing that Beaufort were not aware of adding this to their original total. RESULT: There are currently 32,061,853 shares in issue. There could soon be around 64,962,706 shares in issue after all known outstanding shares are issued. The current Mkt Cap is just £4.4m with 32m shares in issue. Even after 65m shares are in issue at 13.75p the Mkt Cap will still only be £8.93m. Compare this to the last known NAV on 30 Jan 11 £15.9 million, the estimated NAV value by Beaifort on 04 Jan 12 of £34.32 million and the last Trading Update og 09 Mar 12 stating the NAV to be around £35.2m. Even with an estimated total shares in issue of around 65m the mkt cap is still worth around £35.2m or nearly 4x tonights closing mkt cap or 54p/share. This is identical to the Beafort Research Note target price of 55p/share and valuation of £34.32 million. With the current 32,061,853 shares in issue, the estimated current NAV of £34.2m is worth 107p/share. With the estimated full amount of 65m shares in total, BSP is still worth 55p/share right now based on a current NAV of £34.32 million. The imminent clearing up of total shares in issue and the Mediapolis Land sale of £20.86m (69.12% of EUR 25 million by 31 Mar 12 should see BSP re-rated imho. Even the Beafort Research Note points this out with their Peer group Comparison of Quoted Private Equity Investment Companies which quotes "The average discount to NAV is 27%" while BSP's discount to NAV is currently around 87% (£4.4m v £34.2m). Just to catch up with the average peer group discount to NAV of 27% BSP would need to increase to £24.97m, ie around 5,.675 times the current mkt cap ! Even with the recent drop due to imminent dilution, BSP is a "no brainer" (pun intended!). Which ever way you look at it, BSP is highly undervalued. ------------------------------------------------------------------------ NAV NAV 31 dec 08.....£1.244 million NAV 31 dec 09.....£1.693 million NAV 30 Jun 10.....£9.50 million NAV 30 Jun 11.....£15.9 million NAV 31 Dec 11.....£34.32 million according to Beafort Research Note,dated 04 Jan 12. TRADING UPDATE - 09 MAR 12 http://www.investegate.co.uk/Article.aspx?id=201203091007360490Z Ora Hotel Group........ €10.2m (51.00% of EUR 20 million.) Sosushi................ € 1.2m (20.00% of EUR 6 million) Sipiem (Ondaland)...... € 7.2m (40.00% of EUR 18 million) Mediapolis............. € 15.9m (69.12% of EUR 23 million) Bibop.................. € 0.32m (08.00% of EUR 4 million) Mobnotes............... € 0.333m (30.00% of EUR 1 million) Sforza................. € 13,000 (20.00% of EUR 65,000) TOTAL.................. € 35.2m (£29.28m) Mediapolis Land sale... € 20.86m (69.12% of EUR 25 million) 09 Mar 12....."The contract for the sale of the land was signed on 31 December 2011 and is expected to close on or before 31 March 2012" ------------------------------------------------------------------------ SHARES IN ISSUE: 28.05.10.....2,380,672,667 15.06.10.....9,522,690 (1:250 share consolidation) 02.09.10.....13,122,690 31.12.10.....13,751,854 16.06.11.....18,936,853 06.01.12.....18,961.540 23.02.12.....32,061,853 (£2m Placing at 15/16p)
Brainspark share price data is direct from the London Stock Exchange
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:40 V: D:20160927 12:09:04