Advancedadvt Share Discussion Threads

[x54v] 14/12/2023 11:27

The bear market in small caps certainly hasn't helped.

Hopefully they'll get back up to 200p and beyond again in time as inflation falls and UK shares start seeing more buying interest.

I guess there's always the possibility that bidders coming knocking on their door again too.

[stemis] 14/12/2023 11:10

Shame we bought them at 200p

[x54v] 13/12/2023 17:51

Good to see further strength in the SAA share price which has just broken out to a new high above 150p, helping increase ADVT's NAV.

12 million SAA shares at the lows of around 120p were worth £14.4 million. Today at the 152p close they are worth £18.2 million, so a nice increase in the holding there of around £3.8 million.

Vin Murria will be doubly pleased given that she personally owns 15.2 million SAA shares.

[x54v] 07/12/2023 17:14

“So on 10th Jan 24 i will be able to buy shares in a Vin Murria company again as @AdvancedAdvt joins AIM. Excelent article by Tola Sargeant on TechMarketView today - see below. So i won’t repeat the background.

Just to say I’ve backed Vin’s exploits for over 20 years since my Elderstreet days. Not just her major ventures but her NEDs (at the likes of Zoopla, Softcat plc , Bunzl plc) and her tilt at M&C Saatchi Group. I must calculate my gains from this strategy - but it is very considerable! Vin seems to have the Midas touch!”

[x54v] 05/12/2023 17:39

“AdvancedAdvT also has some £78m of cash in the bank to fund further acquisitions and investment, so I have a feeling we can expect plenty more news from Vin and her team in 2024. With a strategy centred around backing sectors characterised by long term AI, digital transformation, data analytics and business intelligence trends that are in the early stages of adoption, they’ll be looking to acquire businesses that meet key characteristics including high recurring revenue, sticky customers and mission critical products and services. Watch this space!”

[colinroberts] 05/12/2023 09:50

Plenty to chew on there, all looking positive too. Shame there's another month to go. Hopefully there might be a further pick up in SAA in their Jan update too.

[x54v] 05/12/2023 08:57

Another month to wait then. That will have been a 7 month suspension.

I noticed that about the cash figure too. I wonder where the extra money has come from. Plenty of firepower for future acquisitions whatever the case.

Positive sound bites about the future bode well e.g.

"four businesses with notably strong recurring revenues"

"We...have created an initial platform on which we can rapidly scale, innovate and build both organically and inorganically"

"Our two platforms...position us extremely well to execute on our growth strategy in a rapidly growing and evolving AI and digitally led landscape"

"provide us with a strong and solid foundation to capitalise on the anticipated rapid market growth and increasing AI, digital transformation, data analytics and business intelligence requirements across these sectors"

Looking forward to seeing what 2024 brings.

[stemis] 05/12/2023 08:20

Interesting RNS.

Cancellation of listing on main market and re-listing on AIM by 10 January.

Sale of Synaptic for £3.5m. According to their published accounts for y/e 31 December 2022, Synpatic had sales of £2.5m, made a pre tax loss (pre goodwill amortisation) of £0.6m.

Cash at 30 November was £78m. Since it was £105m at 30 June and we paid £33m for the acquisitions, that seems to suggest we've generated £6m from somewhere (part of which will be the £1.8m dividend from Saachi and I guess a bit of interest). The £78m does not include the £3.5m for the sale of Synpatic.

[x54v] 01/12/2023 17:24

SteMiS - Gavin stated that:

"This HFI has to be both audited and prepared in accordance with full IFRS disclosures" and

"certain of the businesses have been historically exempt from being audited in their current form and providing only partial disclosure under IFRS"

[stemis] 01/12/2023 16:58

Not sure what 'audits' Gavin is referring to, as all companies being acquired have 31 December year ends and the 2022 accounts are long since filed.

It'll be interesting to see the relisting document as Capita's announcement of the sale says

hxxps://www.capita.com/news/capita-agrees-sell-non-core-software-businesses

The combined reported revenue and profit before tax of the non-core software businesses for the year to 31 December 2022 were £35m and £3m respectively. Gross assets were £81m at 31 December 2022.

If I add up the sales and PBT from the stat accounts of the 5 I get sales of £38m and PBT (pre intangible amort) £4.2m. Indeed the largest of them (CIBS) with sales of £15m and PBT of £2.5m, only existed for 4 months (the business having been injected into the company from other subsidiaries).

It'll also be interesting to see the NAV being acquired, as the 5 have combined NAV of £8.6m, but that includes intangibles of £12.1m and net intercompany liabilities of £0.5m with a net overdraft of £0.6m, somewhat at odds with Capita's announcement

Capita expects to receive cash proceeds of c£44m on completion, including c£9m of cash within the sold businesses at the time of the transaction.

It's a bit of a mix of businesses (of varying sizes and profitability) and I suspect Advt's accounts for y/e 30 June 2024 are going to be hard to make head or tail of. It'll be interesting to see what the market makes of them and, further on, what Vin does with them...

[x54v] 01/12/2023 14:31

No probs. Gavin concluded with:

"We anticipate providing a further update on timing over the coming weeks."

and given that this was on Nov 3rd, hopefully we should hear something very soon.

[stemis] 01/12/2023 14:14

Good work X54v

[colinroberts] 01/12/2023 13:47

X54 - helpful, thanks for that.

[x54v] 01/12/2023 12:33

I emailed the company on Nov 3rd and got a reply from Gavin Hugill.

He said that there was a fair amount of historical financial information required for the admission document and that this is what has been taking the time.

He said that this work was "considerably advanced" and likely to be completed with audits signed off in November. He further stated that there was an expectation that the shares would be re-listed in December.

[silverlandfinance] 01/12/2023 12:17

The silence on this share is deafning

[stemis] 29/11/2023 09:54

To be honest, if the delay means we end up listing on the main market rather than AIM I'd be all for it. I've no plan to sell in the forseeable future so an immediate listing is nice rather than necessary...

[x54v] 29/11/2023 08:48

A December re-listing would be welcome Colin.

ADVT will now have had 4 months worth of earnings from the 5 companies it has acquired.

The SAA share price has firmed a bit recently so that helps too.

[colinroberts] 29/11/2023 07:58

My latest thought on this is that back on 8th June they put a stake in the ground and gave themselves a nominal 6-months, to get to grips with the new acquisitions, sort out the new listing etc. So I think 8th Dec looks likely for re-listing.

[x54v] 15/11/2023 11:14

Nearly there.

[stemis] 15/11/2023 10:48

Over 5 months now...

[x54v] 21/10/2023 12:39

RTO suspensions typically last months. This one is no different.

Bear in mind that if the shares re-list in such a negative market, there is a good chance the share price will struggle to make any progress with sentiment so poor. At least while the shares are suspended the share price can’t fall along with the many other good companies currently being dragged downwards in line with the overall market.

[parsons4] 21/10/2023 07:49

To be honest I think it is a bloody disgrace that shareholders have been locked in a supposed successful company for so long. Vin Murria is getting too big for her boots IMHO

[colinroberts] 16/10/2023 15:43

I agree - i think its now gone on longer than any of us thought, so a short update would have been welcome and appropriate Imo. Hopefully its just got so close now that they think an update would be unnecessary…

[x54v] 16/10/2023 13:40

And over 4 months now since suspension. Would be good to know how close the shares are to re-list.

A frustrating wait. Hopefully a much more regular stream of newsflow upon re-list.

Not sure I’m keen for them to re-list in such a poor market though.

[stemis] 12/10/2023 07:32

Now over 10 weeks since the acquisitions completed. Surely that's enough time to complete the documentation neceessary to re-list the company?