Allied Minds Share Discussion Threads

[alasdair100new] 15/1/2020 15:28

Absolutely no way. It has to be a special dividend. Give the shareholders some bloody money back for the long suffering we have endured

[buffettjnr] 15/1/2020 15:21

Capital return must be via a buyback of sorts. Only way to return capital that makes any sense

[spectoacc] 13/1/2020 09:53

The 49.5p's are buys. Expected the drift-off after the thin Xmas market but feels even thinner atm. Needs the long-overdue return date..

From over a month ago, 11th Dec:

"..Upon completion of final required filings, the Company will be in a position to announce specific dates and the method of returning capital to its shareholders, we estimate that the return of capital to shareholders will be complete by early Q1 2020. "

Sorry, but if it's going to be "complete" by "early Q1", they had better bloody get on and announce format/ex-dates. It's early Q1 now.

[spectoacc] 07/1/2020 14:21

My largest holding, expecting a big year for it.

[swinsco] 07/1/2020 14:17

This dog is heading to new lows. Never fails to disappoint. Shame.

[spectoacc] 31/12/2019 09:03

Always nice to see it going up, but is barely trading & Invesco no doubt off for Xmas.

Still - early part of 2020 should see some decent movement with the cash return. And any movement on more disposals could really shift ALM in 2020, hopefully much nearer to NAV.

[buffettjnr] 24/12/2019 09:19

And weak sterling moving the NAV

[spectoacc] 24/12/2019 08:56

Thin market, guessing has had a mention somewhere. Would certainly be one of my "tips for 2020", both the capital return sometime in the new year, and the prospect of more exits to come.

[spectoacc] 11/12/2019 10:42

@flyfisher - on that, I agree. Guessing CRS had to do some horse-trading to get what they wanted and avoid an EGM - which they may not even have been successful at.

The "..Total invested in the technology portfolio.." is surely a nonsense, it should be total wasted - ie the amount in, plus the costs, ie shareholders' funds.

The $400m losses may include write-downs to previous write-ups, accounting losses etc. But the logic of "only a payout once a cash profit has been made" would stand, it doesn't even have an "after inflation" or "in excess of the S&P" proviso.

We must be halfway to that $109m already.

[swinsco] 11/12/2019 10:39

It does not look good. Expecting the overhang to continue for a few months yet. Shame as hold a few but thankfully sold 3/4 in the 50s. Not a chance I'll be buying those shoes back cheaper.. its a dog of a share.

[flyfisher] 11/12/2019 10:26

''No further allocations under the Phantom Plan will be made until gross proceeds from future portfolio company liquidity events exceed an invested capital threshold. Initially, this threshold equates to $109 million, representing the total invested capital in the technology portfolio to date.''

Conveniently ignores losses to date in excess of $400m.

This restructuring does not go far enough.

[flyfisher] 11/12/2019 09:09

Positive news, chairman going next june (cheaper than severance), but it does not resolve the stock overhang from invesco.

[spectoacc] 11/12/2019 08:52

Larger, sooner, and proper removal of the Phantom. But good on CRS, credit where it's due.

[alasdair100new] 11/12/2019 08:42

Yes it's mostly pleasing. I would have liked to see a larger payout still to the shareholders

[spectoacc] 11/12/2019 08:07

A very pleasing RNS, thanks to Crystal Amber. Slight increase in planned cash return ("Early Q1 2020", still don't see why can't be sooner), decent reduction in costs, removal of one of the co-CEOs, former LEAF guy on to the Board, revisions to the Phantom Plan (which shouldn't be there in the first place IMO).

[swinsco] 10/12/2019 10:44

30s coming soon. To much stock around and no buyers. News has no effect on this dog. Shame.

[spectoacc] 09/12/2019 09:08

@flyfisher - agree on Point 2, and interesting that Mr Bernstein didn't reply to me on that specific point.

How can ALM still not have RNS'd that they've had an EGM requisition?

[flyfisher] 09/12/2019 09:00

Specto, your comment ''I'd want to know why they say the existing Board can still be employed''

1. They will need a couple of non execs to sit on the board of the portfolio companies.
2. They want them to walk rather than be pushed out, it is less expensive.

[bobonumber1] 09/12/2019 08:36

Or buy federateds Woodford holding

[flyfisher] 09/12/2019 08:35

As they have the cash, I wonder if they are in discussions to buy in the Invesco holding, at an appropriate discount.

[buffettjnr] 06/12/2019 08:43

CRS has been busy I'm sure losing money on everything else.

[spectoacc] 06/12/2019 08:28

No news on the XD, no news on the requisitioned EGM - starting to feel suspicious.

[swinsco] 06/12/2019 08:09

What a dog this share is. Ramped by Barontrading should have been the warning.

[buffettjnr] 30/11/2019 17:13

Definitely time to change it.

[flyfisher] 30/11/2019 16:42

The phantom bonus scheme was seemingly renewed in june this year, despite crystal amber objections, and despite the enormous losses to date.

Any credible board would have not renewed it or changed it to an aggregate gains scheme.

Now having paid themselves 4.9m, they are prepared to listen to major shareholders, but only after further pressure from CRS.

I have no trust that this board of directors is acting in the interest of the business owners.