Allied Minds Share Discussion Threads

[bobonumber1] 10/3/2022 14:39

Investco Gic and the other lot voting against CRS.

[kooba] 10/3/2022 10:36

Harry joined the board as senior independent director on 19th Sept 2017.The share price then was 154p it is now 21p thats down 86%. Looking after shareholder value on the board?

[kooba] 10/3/2022 10:23

I would favour a change of board leadership and the appointment of outside independent private equity specialist firm to be brought in to manage a run down on a highly incentivised basis..both in time and monies raised.I am not convinced at all that the current leadership plus Numis contracted to handled the sale (s) are the people to deliver value to shareholders. Both Harry and Numis have been around a while overseeing the destruction of value...blaming crystal Amber for destroying value is a stretch ..they haven't been running it and Crystal Amber have a duty of care to their own shareholders to intervene if assets they own are being managed poorly ...don't think anyone thinks this is being managed well and that the management have shareholders at the forefront of their attention..they treat shareholders as a nuisance..meanwhile they own 0.15% of the company so virtually no skin in the game. We should also remember that 47% of shareholders who voted wanted Harry out some time ago ...and he is still there claiming shareholder support and it is only Crystal Amber who are not happy ..cloud cuckoo land...any other chair would have walked long ago on that showing.

[spectoacc] 10/3/2022 09:56

For the whole co, or per share?

Wouldn't put it past them to simply delist it.

[davesailing] 10/3/2022 09:50

Offers expected to be in the 35 to 40p range.......?

[believer2] 10/3/2022 09:29

Totally agree -RB has to give us a plan, he cannot assume shareholder unhappiness guarantees him the vote. He won’t be doing it for free I doubt either. Maybe this is the influence of MP now overseeing a fire sale. I am pleased that there are things going on - even if it did take CA to exacerbate it !

[baldguvnor54] 10/3/2022 09:16

Agreed- Federated is fully funded, and looks to have real value. I hadn't appreciated that Rein was the Chair of Federated- and looks to be well regarded by Fed's Board. While I am no fan of the ALM Board I admit to be no fan of Crystal Amber either- for me this will come down to who has the best plan- ignoring the vitreol

[bobonumber1] 10/3/2022 09:08

One would assume there would be a few suitors for federated. Any of the participants in the raise or previous raises, Amazon (a partner ) or Google the competitor plus as you say a multitude of pe and telecoms outfits. As long as there is at least 2 bidding against each other then it should achieve a decent price.

[baldguvnor54] 10/3/2022 09:06

The full circular to shareholders is now on the ALM website- will wait to see RB's response- looks like this will get feisty

[baldguvnor54] 10/3/2022 08:49

Bobonumber1- agreed. At least the Board have finally set out a plan for returning value- all we have heard from RB is whining (unsurprising given he has to wind up his fund due to his performance). Rb has to come up with a better plan than the Board or I see major shareholders supporting the formal sale process.
With Federated now fully funded there does appear to be real value in that asset- which the market doesn't appreciate. I would be surprised if a PE firm didn't seize the oppertunity to pick this up on the cheap.

[bobonumber1] 10/3/2022 08:06

Who knows. Does not change the fact that RB needs to write to shareholders with a vision and a plan.

[kooba] 10/3/2022 06:47

Most private equity situations i have come across would not welcome such an in speci distribution and it might well be contrary to any shareholder agreement...worth knowing if this is actually doable before running it up the flagpole.We still end up with a serially underperforming company with Harry as Chair though!This approach was totally talked down a year ago by harry and Bruce on the CMD...shareholders would get no value from a firesale. A year later after not delivering any value..i expect NAV to be well down on last year..then suddenly this is a good idea.If this was an idea why has the company stumbled on losing ever more money and cash since they called a monetisation policy in April 2019..shares were 60p then assets in the 90ps and the company had a lump of cash.Cash is now almost depleted , assets are well down ..the only people who seem to benefit from this fiasco are those on a salary.The Harry and Bruce show was put in place 2 years ago now..though Harry has been on the board since 2017..overseeing this travesty close up.It will be interesting to see the latest report and accounts to see just how successful they have been in achieving stated strategy over those 2 years and whether they have added value. My guess is a big fat negative on all counts.The tone of the communication from the "board committee" is one of total denial at their abject failure in the stewardship of this company.

[bobonumber1] 09/3/2022 22:09

Time for CRS to write to shareholders with their vision and plan. My understanding from the sales part of the announcement is that parts of the company could be sold off and parts given to shareholders. Can only assume BC and orbital sold and Shares to be issued in federated. I would take that.

[kooba] 09/3/2022 17:37

They announce the validly called GM on the last day they could and after the market close..couldn't have legally left it any longer. They are a highly discreditable bunch who are totally unsuitable for the role they found themselves in. They have never demonstrated any empathy for the situation shareholders have been left in and treat most shareholders with contempt ..unless of course they give you a consultancy that is !! Corporate Governance is atrocious and shareholders repeatedly pay the price of incompetence.I see no reason why our very misleading Chair who i believe has added no value ..quite the contrary is left in charge of this process..and would be more than happy if his non independent mate Bruce exits too. Way out of their depth and clueless how to act in the interest of shareholders.

[spectoacc] 09/3/2022 16:38

"Allied Minds plc

("Allied Minds" or the "Company")

Statement Regarding Requisition of General Meeting of the Company to remove Chairperson
and Commencement of Formal Sale Process

On 16 February 2022, Allied Minds received a requisition (the "Requisition") to convene a general meeting (the "Requisitioned General Meeting") of the Company from Crystal Amber Fund Limited. The Requisition proposes a resolution to remove Harry Rein from the office of director of the Company with immediate effect (the "Resolution").

In accordance with the requirements of the Companies Act 2006, the board of Allied Minds (the "Board") is convening the Requisitioned General Meeting. The Requisitioned General Meeting will be held at the offices of DLA Piper UK LLP at 160 Aldersgate Street, London EC1A 4HT, 3.00 pm on Tuesday 5 April 2022.
"

[kooba] 08/3/2022 18:03

We have a new shareholder declared..explains the volume the other day.

[kooba] 03/3/2022 20:07

Not sure there has been any funds attracted to this counter as a full listing for many years so not going to miss much ! The reason is not so much whether it is Aim or not it is it's now too small a market cap, it's governance, it's poor communications, it's zero PR and IR ,its totally unrealistic costs , it's rubbish performance , the assets go down year in year out and the Woodford history apart from that I'm sure it would be attractive to institutions!! The only real interest is from an activist who thinks it can be better run by a change in management, it might then be positioned as an interesting value play or even corporate target . I totally agree change is needed and a new approach to running what is left of the assets in a cost effective, open and informative way ...because the current situation sucks.

[bobonumber1] 03/3/2022 19:30

Yes. Funds generally don't trade aim stock

[bobonumber1] 03/3/2022 19:29

Share price not affected so prob fund to fund

[believer2] 03/3/2022 16:24

Could be a fund to fund I suppose - reading back other comments- in my head Aim is quite costly and there was another reason it wasn’t an option but I can’t remember details - I think it was to do with a lot of funds would have to dispose of it as not Aim based ??? I could be wrong

[kooba] 03/3/2022 16:16

About 2% gone through by the looks of it?