Advancedadvt Share Discussion Threads

[stemis] 29/9/2023 11:30

Will certainly be interesting to see where the share price goes when it re-lists. I reckon current NAV to be around 92p (albeit with an unknown amount of intangibles arising on acquisitions). Would hope for at least a slight premium on that now we are up and running.

[x54v] 28/9/2023 22:01

Further today from Marwyn (ADVT’s largest shareholder with £20 million invested), an interview with CIO James Corsellis:



Specific commentary on Vin Murria / ADVT from 3:44 and 11:28.

Interview as a whole worth watching for the Marwyn strategy and how Vin Murria and ADVT fit into that.

[x54v] 28/9/2023 09:17

With small company valuations very much lower than before (with the AIM market chart being a good indicator of this), it is a good time to be picking up bargains. I can confident VM can put the ADVT war chest to good use in the coming months.

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"Given the significant macroeconomic uncertainty and disruption, we firmly believe that this environment will present numerous opportunities to leverage the reported acquisitions success with both organic and acquisitive growth. We will remain vigilant in identifying and seizing the right investment opportunities, allowing us to further strengthen our market position and generate sustainable value in the long run.

With our substantial war chest and our disciplined approach, we are well placed to execute M&A that is both synergistic and accretive over the longer term.

We will continue to actively pursue discussions on potential target businesses that align with our strategic vision and leverage the value of announced acquisitions."

[x54v] 28/9/2023 09:04

No probs.

Yes, hopefully the re-listing is soon. Nearly 4 months the shares have been suspended now.

[colinroberts] 28/9/2023 08:51

Thanks for that - a good positive summary, just ahead of what must now be the very fast-approaching re-listing.

[x54v] 28/9/2023 07:08

“AdvancedAdvT has remained focused on its disciplined acquisition strategy since its GBP130 million capital raise in March 2021 under the highly capable leadership of Vin Murria. During the period, AdvancedAdvT successfully acquired a group of five software businesses from Capita at what we believe is a highly attractive valuation. With a substantial war chest still remaining following these acquisitions, AdvancedAdvT is now poised to explore synergistic acquisition opportunities and we see significant scope for value creation.”

[x54v] 15/9/2023 16:56

Good to see a bit of a bounce in the SAA share price after the interims were announced there yesterday. A small boost to ADVT's NAV.

Now all we need is the shares re-listed.

[x54v] 08/9/2023 13:35

Yes, it’s frustrating and in particular not knowing when the shares will be re-listed.

Still, with so many other shares getting dragged down with negative sentiment, maybe suspension isn’t such a bad thing for now.

What the negative sentiment does provide though is the opportunity to pick up businesses on the cheap and for companies with large cash balances like ADVT, it’s the ideal situation.

[colinroberts] 08/9/2023 11:45

Agreed - an opportunity I'd jump at. I'm keeping a sharp eye for an RNS before the market opens each day! I get your logic from an older post about the suspension being a potentially good thing at present. But I guess we all find it slightly frustrating to hold shares in a company that's currently in suspension (albeit for a good reason).

[x54v] 08/9/2023 10:09

That would be good.

82% of the shares are tightly held between VM and instis who have been in since the beginning, so with little free float there could be some rapid moves on re-listing.

A surge upwards would be welcome and anything near to the suspension price would be an opportunity.

[colinroberts] 08/9/2023 09:50

My initial guess was way too optimistic. But I've seen a few guides that suggest 3-4 months, so on that basis there's a chance it could be any time from now.

[x54v] 08/9/2023 09:06

Three months now since the shares were suspended. Hopefully re-listing isn’t too far away, but who knows.

Richard Penny mentioned “early October” in the recent interview. Was that just a guess or does he know something more.

[stemis] 26/8/2023 23:25

95p would be a nice start. Current NAV is ~90p (although we don't currently know how much of the acquisition cost is attributable to goodwill). However with around 54p in cash to invest hopefully there should be enough potential future newsflow to keep the market interested

[colinroberts] 26/8/2023 11:40

R Penny speculates that they will rise when re-listed, saying they're good value 'if you can buy them at that level'(82p). And it will be interesting to see the market reaction, both initially and further down the road. Must admit I'd be v keen to add more (at 82 if possible! but I don't think I'll get that lucky), and will probably do so if I can get in below 95.

[jans3] 26/8/2023 11:17

Paul Hill says its worth about 110 (million) now 'but you could put a zero to that, at least times it by 10 in the fullness of time' !!

I'd settle for that.

Both guys very positive about ADVT and the way its progressing.

[x54v] 26/8/2023 10:42

Some coverage here from Richard Penny from CRUX:



He reckons on “fair value of around 110p but you can see how that would grow” and reckons on the shares coming back in “early October”.

[x54v] 17/8/2023 12:41

The company website has been updated. It now includes an Acquisitions section:

https ://advancedadvt.com/acquisitions/default.aspx

(remove the space in the URL to get it to work)

[stemis] 10/8/2023 21:46

The investment in SAA only accounted for 15% of ADVT Net Assets at 30th June

[colinroberts] 10/8/2023 21:22

Thanks for those figures. I'm surprised at how little the fall in SAA's price has affected the NAV. Helps put it into context. And as you say, there's so much cash left in the pile.

[stemis] 10/8/2023 17:09

Yes, it will be interesting to see at what price ADVT opens. As at 30 June NAV/share was 92.5p. Since then the share price of SAA has weakened further by 14.5% to 130p, but that only reduces ADVT NAV to 90.5p. Worth remembering that when it initially listed ADVT traded at a premium to NAV. It was the bid for SAA and then apparent lack of progress in moving forward with an alternative which took the share price down to current levels.

The acquisition of the software businesses only uses less than a third of Advt's cash so I imagine, considering how long it took to get to this point, that Murray has a pretty clear idea of how to deploy the rest in building around these businesses.

[x54v] 09/8/2023 21:37

Saatchi drift not ideal, but as jans3 says it’s a bit of a sideshow. It’s a small percentage of overall equity and unimportant in the bigger picture.

As for selling at £1 just because of the Saatchi position, that would be very short sighted imo. VM has 10 bagged her previous two listed vehicles and plans to use exactly the same playbook here. There is a long way to go in the ADVT story yet.

ADVT now has 5 revenue-generating companies that it will look to optimise. On top of that, it has around £72 million cash to deploy on further acquisitions. A strong advantage in the current climate where many other companies looking to grow have to borrow at high interest rates.

As for when further acquisitions might occur, who knows. It will depend on when good opportunities become available. I’d imagine though that the team has a shortlist of possibilities given the amount of time they’ve had to research.

A move up on re-list would be welcome, but my own focus is on the longer term. ADVT is a multi-bagger in the making imo.

[jans3] 09/8/2023 20:34

None of the big investors have made any significant changes in their holdings. They've held on through thick and thin , even the Saatchi mess. They will have sought reassurance for their investments and obviously have received it which gives me confidence that there is a compelling reason to hold ADVT

[jans3] 09/8/2023 20:28

Think Saatchi is a bit of a sideshow. All eyes will be on new acquisitions and how vin murria will develop ADVT, especially considering her history. Now that she's finally made her move (yes I know Saatchi was first but this feels more like what was originally her intention)I think she'll want to make up for lost time

[elsa7878] 09/8/2023 20:19

Saatchi share price not so pretty and sits uncomfortably as a fit with the acquisitions. Bit of a dog's dinner. If you get £1 take it.

[jans3] 09/8/2023 20:09

Any guesses on price when it relists? I'm thinking a pound and rapid rise to £1.20's as before when it initially came on to the market. Also will vin murria embark on further acquisitions immediately or develop the businesses she has just acquired? Fascinating and hopefully very profitable journey from here. I plan to invest more funds as soon as ADVT relists