Allied Minds Share Discussion Threads

[kooba] 30/8/2022 19:10

Orbital sidekick..waiting for funding news in the meantime.https://www.satellitetoday.com/podcast/2022/08/29/super-charged-hyperspectral-satellite-imaging-with-dan-katz-orbital-sidekick/

[kooba] 30/8/2022 19:05

Federated in Saudihttps://wifinowglobal.com/news-and-blog/world-first-saudi-regulator-citc-successfully-demonstrates-standard-power-6-ghz-wi-fi-with-afc/

[kooba] 30/8/2022 17:43

There may be shareholder agreements and yes ALM no longer has effective control , but as far as i can tell we have two directors on the board and an ex chair still hanging on. The question is are they acting in the interests of federated over ALM as there may well be a conflict. So far having large equity and board positions seems to have failed to protect dilution of valuation when cerabus came onboard.If we are just passive in any company we hold then there is no guarantee of any monetisation on any timeframe i guess..however we have been given a number of ever extending time frames over the past few years.As to deep discounts on the holdings..we are trading at less than 30% of the book valuations net of cash...pretty bloody deep..they previously indicated selling private equity assets could be 40% discount ..that would still be well into the 20's and a better exit than being forced out by de listing for some.

[steedman607] 30/8/2022 16:49

Isn't the issue with federated and others that Allied Minds is no longer the majority. So whilst ALM maybe keen to sell, float or trade sale Federated and others - the likes of Cerabus and the other investors have very different strategies, ideas and time horizons for repayment of capital and return. I suppose it is still possible for ALM to sell it stake to those other investors but clearly they would look for a deep discount to take advantage of the situation. Even where ALM is the majority, i suspect if you opened the shareholders agreement those other investors have a say or blocking rights to protect their capital

[kooba] 30/8/2022 12:09

They don't need a meeting to sell the assets and return that money to the shareholders..that has been the stated strategy for over 3 years. When the strategy was announced April 2019 the company had far more cash than the current market cap in the bank! Really is disastrous in execution. Since then they put more money into holdings already gone bust.The asset value they provide is meant to be a realistic valuation of the assets but we now trade at a 68% discount ( even higher if one strips out the remaining cash) and can't sell any asset one presumes anywhere near NAV or at all !! So is the valuation a real reflection of the value?Federated is meant to be worth 23-24p on its own following the last write down in fundraise..why not sell it and pay that out ..delist the balance.

[wbodger] 30/8/2022 10:03

What money for shareholders? Current market cap is £27.7 million. If anyone had offered that much for any one of the holdings (it would say very little for any of the others) they would probably have called a meeting anyway.

Either way we should find out when the delist meeting is called.

CA has to wind up in sixteen months. Their holding is worth under £5.5 million of the £27.7 million.

[kooba] 30/8/2022 06:28

Think its likely the US side selling..maybe cant hold unlisted? If the list found is right then they could have 4m left..it might be though that they have sold and it just Henley left on the register. Monetisations fail..buyback fail ..formal sale process fail..delist who knows but they are trying to push every button but the one that returns money to shareholders and in the meantime the assets shrink year in year out and only insiders are taking any money out...for what??

[wbodger] 29/8/2022 19:55

If Invesco managements are both singing from the same hymnbook they still have enough to block the outcome, 16.49% in total.

Maybe they have thrown in the towel, they basically sold over ten million last week. That's a big hit though, if they are going all the way down.

(Thanks for the figures, kooba. I had similar.)

[kooba] 29/8/2022 14:24

Yep not sure why not showing on that list ..think the holding comes through as Charles Stanley fraction over 6%. In 8.3 opening holdings.I wonder what Mr Pritchard thinks on delist..he is still a consultant one must think and presumably was behind the formal sale process that unfortunately seems to be going nowhere..is the delist the next idea..the company has had many ideas all of which has gone nowhere and seen assets shrink further.

[bobonumber1] 29/8/2022 09:57

You have the "Anderson's " around 6% also

[spob] 28/8/2022 19:49

Anyone have a reasonably accurate top shareholder list for this ?

[kooba] 27/8/2022 05:48

More the choice of words than me supporting the boards latest move.

Exorcism is the religious or spiritual practice of evicting demons, jinns, or other spiritual entities from a person, or an area, that is believed to be possessed.

[backinblack80] 27/8/2022 00:25

kooba,
"exorcised…wow thats a bit strong are you suggesting they are possessed? "

Really? How so? You reckon that they should stay?

[wbodger] 26/8/2022 17:14

I'll have a look over the weekend. Possibly goes back a ways?

[kooba] 26/8/2022 16:59

Yes original holding 8,687,237 plus 5.5m yesterday plus 1.45m today does indeed add up to their now declared 15.63m holding.I was meaning that the declared sales over declared purchases don't add up by a fair few M shares.. Metage haven't bought invesco and Castellian sales totalling 16m shares they bought about 7m last two days. Where's the other 9m gone? 3.75% of issued.

[wbodger] 26/8/2022 16:50

Declaration by Metage at 16:02 today. See above. Says they now have 1,450,000 more, 15,687,237 and the share total adds up.

I'm off, have a good weekend. Let's see on Tuesday.

[kooba] 26/8/2022 16:35

Metage was declarable with 8,687,237 3.62 % initial disclosure in March they then disclosed 5.5m purchase yesterday and the 1.45m today to take their holding to 5.94%.

The numbers don’t really add up with the invesco and Castellian sale as there is around 4% disparity..maybe retail has picked up balance but the prints were lumpy on both sides.

Maybe someone else to declare purchase?

[wbodger] 26/8/2022 16:24

It looks as if Metage had around 5 million shares before adding 9 million plus, probably the Invesco sale. The declared holding, 14,237,237, is about 5.7%. Invesco still has over 16% to negotiate with Metage, offer in market or keep (depending on plans). Other big holders according to Marketscreener include GIC at 8% and Mark Pritchard, 5.47%.

Crystal Amber has 18.2% of ALM.

I guess Invesco will make their best deal over the next weeks and exit but what do I know. DYOR always on my posts.

[kooba] 26/8/2022 14:14

We should find out later i guess.This is indicate to be yesterdays business.Anyone owning over 1% will need to report activity today.Anyone new acquiring 1% plus will ned to report today.Invesco has now sold 10m , over 4% in the past two days.Castellain has sold 6m , about 2.5% in past two days.Metage has bought 5.5m So expecting further disclosures..could be Metage.

[wbodger] 26/8/2022 13:54

Who to, Metage?

[kooba] 26/8/2022 13:51

Invesco Ltd.Sale 9,170,262 0.10 GBDeal undertaken yesterday?

[kooba] 26/8/2022 13:47

Invesco sells another 9m shares..wtf.I thought it was them pushing for the de-list then they dump when the idea is announced.Hardly a vote of confidence in the guys they have brought in or the company!And they still have 16.5%!

[kooba] 26/8/2022 12:47

I not at all sure that the new directors were CA nominations as you know CA was going GM route just to oust Harry...looks like Invesco was the architect of peace and i reckon they put the new guys forward. CA must have supported their appointment i guess but doesn't mean they support their first move to de list. The current Chair was on the capital markets call as a director confirming that no de-list was planned.