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Share Name Share Symbol Market Type Share ISIN Share Description
Allied Minds Plc LSE:ALM London Ordinary Share GB00BLRLH124 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.99% 20.50 20.50 21.00 20.90 20.10 20.30 2,058,425 16:29:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.5 -55.5 -22.0 - 50

Allied Minds Share Discussion Threads

Showing 6751 to 6774 of 7350 messages
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DateSubjectAuthorDiscuss
20/1/2020
10:35
Talk of the "phantom seller " has been for some time now
bobonumber1
20/1/2020
09:28
Invesco would have been obligated to announce any sale so it can't be them. I have no idea where the large sells come from however.
bobonumber1
20/1/2020
08:34
Decent buys, seller still around IMO. Hoping for a "Thommo" before Thurs, but he's not the sharpest.
spectoacc
20/1/2020
08:15
Added here
nw99
19/1/2020
23:50
Thanks thwarnts, next stop £2-£5
backinblack80
19/1/2020
21:13
bid/ask 51p/60p not for me, GL guys here
thwarnts
19/1/2020
19:38
Can't see much point punting the divi, it'll surely fall most of it on XD day. The "punt" is that NAV is mid-80s, no new investments being made, LEAF guy now on the Board, big hope is that one or two of the remaining investments come good at figures well north of current NAV. Just can't see much downside - time, certainly, but realisations would have to be way under NAV (particularly NAV post-XD) before the shares weren't worth buying here. But I would say that.
spectoacc
19/1/2020
16:42
Is this worth a pure punt just for the special divi or am I missing something?
thwarnts
17/1/2020
18:41
Be interesting to see if any weekend coverage/tips. Touched 55p today, got an eye out for eg Invesco having sold more.
spectoacc
17/1/2020
10:14
The Henley Hippo may not be such a great story
williamcooper104
17/1/2020
09:50
Ok, so essentially a wind-up, just a question of timing and returns. Thanks Specto.
frazboy
17/1/2020
08:51
@frazboy - they're having it "realised", but at lower cost and with their man (who did the very successful LEAF job) on the Board. Is worth a read of CRS's RNS's on ALM. They called an EGM but withdrew the requisition when ALM Board bended ("bent" seems inappropriate ;) ): " In light of Allied Minds' appointment to its board of Mark Lerdal, the director candidate proposed by the Fund (who has directly relevant experience of realising shareholder value from a comparable US-based, UK-listed company), and the other announced changes to the Allied Minds board and to executive compensation, the Fund has formally withdrawn the requisition notice. Actions such as the announced board changes and the focus on maximising cash returns to shareholders - not least from the recent sale of Allied Minds' stake in HawkEye 360 - demonstrate the value of Crystal Amber Fund's activist investment approach. Richard Bernstein, investment adviser to Crystal Amber Fund, said: "We have always attempted to engage positively in a private manner with our investee companies in an effort to effect change in the interests of all shareholders. This is one of a small number of cases where we have felt obliged to take public action to ensure that shareholder interests are being properly considered. We are pleased that the Board of Allied Minds has engaged with us and the outcome of this process is an acknowledgment that Allied Minds can do more to maximise the realisation of shareholder value. We are also encouraged about the progress we believe can now be made in this regard." [Edit - "Realised" might be too strong a word, but they're making no new investments beyond supporting the existing ones, and previously said this: "Joseph Pignato and Michael Turner, Co-Chief Executive Officers of Allied Minds, commented: "We have made good progress since our appointment to implement our revised strategy of focusing exclusively on supporting our existing portfolio companies and maximising monetisation opportunities at the right time, while reducing ongoing annualised HQ operating expenses. "]
spectoacc
17/1/2020
08:46
Specto - What are CRS trying to achieve, are they trying to have the company shut down and cash returned to shareholders or run more efficiently e.g. better governance and run for the benefit of shareholders, and excess cash returned to shareholders?
frazboy
17/1/2020
07:05
In answer: 1. The former Woody holding in ALM was down to about 2% - isn't clear if they've sold it yet as may not have to report it below 3% 2. Invesco seem to be selling down many of their smaller holdings, and as you say, at this level they're seemingly unfussed at the price as long as it's near enough "market" 3. I expect the ALM share price to fall by less than the divi - but still fall by much of it. Based on discount. 4. I woke up in the night and realised - Simon Thompson is going to be all over ALM when he finally spots it. He had LEAF, he had CRS until moving to sell. Can't stand him, but he'll get round to spotting ALM and tip it big. Am convinced of it. Can all his acolytes move the price? Not much, not with Invesco selling, but eg 250 buyers won't do share price any harm. Edit - thanks @flyfisher, noted re write-offs, but the change to the Phantom Plan should have increased NAV. Also remembered CRS's original proposal to ALM: "Crystal Amber suggests it could cut the annual costs of running Allied Minds by 70%. The fund also said that if it can sell Allied Minds' investments for more than 80 pence a share, it would take a 10% performance fee on any excess. " Hope it's a good sign that they were willing to take 10% over 80p originally.
spectoacc
17/1/2020
07:04
Specto, ''Which still doesn't explain why CRS came down from "95-105p".'' They suffered two write offs and the phantom plan was renewed.
flyfisher
16/1/2020
23:15
I have the answer to my last question.I was on the Mereo Pharma board which is another former Woodford holding and somebody mentioned Invesco are selling there as well.Invesco (who of course Woodford used to work for) apparently copied a lot of his trades after he left because of his stellar track record. Now Invesco are selling many of their "copy" holdings, partly because of the embarrassment and partly for fear of similar liquidity issues.Sadly Invesco (and Link Fund Solutions and Schroders) do not care about getting value for fund holders. Invesco also have to consider the reputational damage of following Woodford into so many illiquid stocks whose price is tanking . The three of them are desperate to get out at any price.When these enormous overhangs are clear we may see rallies in a number of ex- Woodford stocks.Maybe the Woodford story will make a good movie one day a bit like The Wolf of Wall Street...
geordieshores
16/1/2020
22:56
A few people on here have mentioned that at Invesco are are sellers of Allied Minds.I know Link Fund Solutions and Schroders took over Woodfords positions.Are Invesco just another seller or are they related to Woodfords former holding?Appreciate any replies.
geordieshores
16/1/2020
22:39
Thought the price would have increased more today. Some people might be waiting closer to the 24th to see if the price drops, but the risk you take waiting is that the price might increase before the 24th so it will be more expensive to get in.Something else that could affect the price of course the dividend. Dividends can be a complex subject. Sometimes on the ex dividend date the share price drops by roughly the amount of the dividend.QUESTION: imagine the price stays the same eg 52p. Will it drop to 40p after the payment of the 12.65p dividend to reflect the price of the dividend as often happens with other shares that pay a dividend.This ALM dividend is classed as a special dividend, so maybe the share price will stay roughly the same after the dividend has been paid?Does anyone have any other views or opinions on what they think might happen?12.65p as a percentage of 52p is almost a 25% yield. And because it's a special dividend, I can't see the share price falling by 25% after its been paid. In fact, Allied Minds are due to release more news to the market soon (see recent RNS about tie up with Boeing) which means the share price might actually increase without the news of the special dividend.
geordieshores
16/1/2020
20:18
Thanks @bg23, that appears to be from Dec 19 (the note): "Allied Minds’ shares trade materially below the range of its peer group and at a 52% discount to our adjusted estimate of H119 NAV of 91.9p, or a 45% discount on a fully-diluted basis" Not sure re the fully-diluted - share options? Phantom Plan? But 45% discount fully diluted from when it was a few p lower would exactly match up with CRS's current 40% discount. Which still doesn't explain why CRS came down from "95-105p". Noteworthy that CRS's initial ALM stake was bought at an average of over 60p too. For me, we're getting a slug of cash back, the co should be reasonably fully funded (future commitments/running costs) with the retained Hawkeye proceeds. The running costs have been cut again thanks to CRS, and the Phantom Plan amended. The NAV valuations have been verified by later funding rounds with outside investors - not, Woodford-style, by ALM putting less and less money in at higher and higher prices. And whilst timing of disposals, and quantum of return, is unclear, it's very hard to see us getting back less than the current s/p, or much less than current NAV, and very possibly much more. So downside - very unlikely and small, probably time-related the biggest risk. Upside - conservatively to mid-80p's NAV, optimistically to higher. Realist side - S/P is going to remain weighed down by Invesco's dumping, & the majority of ALM buyers during it's time as a listed co will have ultimately lost money. My largest holding, and not expecting to lose on it.
spectoacc
16/1/2020
17:30
bg23, Edison came out with a later update in september at the time of the hawkeye sale, share price at the time was 60p.
flyfisher
16/1/2020
17:11
the last Edison analytics update had an estimate of 91.9 for NAV at jun 2019 hxxps://www.edisongroup.com/publication/meeting-of-minds-with-shareholders/25820/ sounds close to CRS's above
bg23
16/1/2020
15:42
@flyfisher - I assume CRS have done that, but they don't say, and nor do they explain how their NAV estimate has shifted from "95p-105p" to nearer (by my calc) 84p. In fact, I recall a higher figure between those two statements too, tho can't now find it. Some may be phantom-plan related, some may be costs-related. Either way, they're in for 17%, and I'd be happy with a final figure in the 80's. As you say, what they're actually realised at is another matter - I'd hope higher than current value. PS Seller still very much in evidence today.
spectoacc
16/1/2020
15:25
Owenga It is down to accounting treatment, two of the assets are majority owned and are consolidated in the accounts and not marked to last fundraising values. CRS seem to have used the fully diluted % holdings at last fundraising value, plus cash at the parent to get to a value of around 87p at the last interims, with some opex since then. Of course what they can actually sell them for is a different matter. Will they all be duds, or will we have a couple of good winners?
flyfisher
16/1/2020
14:21
@owenga - I crib mine from CRS's releases. Worth going back through their statements since they first started building a stake in ALM. Eg from September (but note they now seem to reckon it's c.84p, if my maths is correct): "Allied Minds plc Allied Minds describes itself as an early-stage investor in technology and life science companies. In 2014, it listed on the London Stock Exchange at 190p per share, valuing the company at GBP398m. In December 2016, it raised GBP64m at 367p per share. Since its formation, Allied Minds has invested in over 40 companies. In 2017, it discontinued funding of several portfolio companies in order to focus primarily on its six largest remaining portfolio companies. From 2014 to 2018, Allied Minds reported total operating losses of US$464 million. The net asset value of Allied Minds now comprises four significant technology and space-related investments, two life-sciences investments that have been substantially written-down, four small new investments made since 2017, and a cash balance of around US$25-30 million after two recently announced follow-on investments. Based on the disclosure regarding individual investee company holding values, we estimate that Allied Minds' net asset value currently stands at between 95p and 105p per share. " Edit - Re-reading that is a reminder of just how much wealth ALM have squandered. 190p listing, £64m raised at 367p, now grateful to get a 12p payout! But also (hopefully) how much will be coming back our way before too long - I really can't see us ultimately getting back less than current s/p.
spectoacc
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