Allied Minds Share Discussion Threads

[bobonumber1] 29/6/2021 20:03

I suspect buyback

[kooba] 29/6/2021 19:49

Lots of volume ..something afoot? Certainly not the buyback ..it's too small !

[kooba] 25/6/2021 15:52

I'm not sure that is their game ..they see a discount they try to lock it in and force liquidation ..not then caring where the liquidation takes place. They don't seem to take views on underlying holding if they can hedge they hedge, they are just try to take the discount out. Seems to work well for them. If CRS has a big result somewhere or tenders and takes SABA out then they may continue as a smaller operation. Bit of time to come up with a plan though I guess. Be a good day today with a few coppers on the nav I guess.

[spectoacc] 25/6/2021 14:41

If SABA had seen value in ALM, they wouldn't have been shorting it vs the CRS stake.

[buffettjnr] 25/6/2021 12:54

It would indeed Kooba. It would indeed.

[kooba] 25/6/2021 12:31

Hoping CRS find a corporate out ..pass the parcel to someone who has another run at breaking this ..maybe SABA should have a look!Invesco and others have frustrated CA attempts to unlock this for years ..unfortunately one of the situations that have left the door open for the hunter to be hunter.Could be a very opportune time for someone to try to take the strategic stake...though appears no immediate hurry ..maybe the board will have found a route to monetisation in six months.

[spectoacc] 25/6/2021 09:06

Interesting goings-on at CRS this morning, RNS well worth reading, activist saying they'll block it continuing as a co at the continuation vote. Isn't clear what happens to CRS's 20% ALM stake, the activist having already shorted ALM in advance. Worth watching.

[kooba] 24/6/2021 23:02

Thanks..I note the AM now only has one director..good OLD Harry replacing Joe Pignato as Chair, I believe one other AM rep has gone ..maybe left company. I can see no rep on BridgeComm or Orbital Sidekick from their websites, something the board said would be in place.Stock at all time low , token share buyback to appease certain holders leaving the company incapable of supporting its investments..what a mess.

[bobonumber1] 24/6/2021 16:24

https://federatedwireless.com/careers-detail/?gh_jid=5325092002

[kooba] 24/6/2021 11:59

Have you got a link to that please.

[buffettjnr] 24/6/2021 11:16

Lol, I'd happily bet that ALM outperforms any of the Cathy Wood's funds over the next 12-18 months.

[spectoacc] 24/6/2021 07:24

The big trades yesterday weren't the buy back:


"Date of purchase:

23 June 2021


Aggregate number of Ordinary Shares purchased:

123,347


Lowest price paid per share (GBp):

20.50


Highest price paid per share (GBp):

21.00


Average price paid per share (GBp):

20.91"

[spectoacc] 24/6/2021 06:47

Wish I shared your optimism! FW def has the potential to be really decent.

So did Spin.

FW should have been floated or SPAC'd in the boom IMO. We're surely at the tail end of that boom now. ALM could/should have been done & dusted years ago.

One single cash return in all that time.

[bobonumber1] 23/6/2021 20:18

40p all day long on a quick liquidation. If Fed and Orbital hit targets (and I see no reason why not ) then this will be £1.50 + in under a year and a half

[spectoacc] 23/6/2021 14:11

Again - they're inept.

Presumably co policy to always back the BoD, even when it's clearly in their interests not to. (40p tho? Hmm.)

We'll know soon enough, depending on them actually crossing a 1% threshold, & notifying it in a timely fashion.

Edit - fwiw 1% of the co is c.2.5m shares, or c.£500k. I think. Invesco have/had 50.6m, or c.£10m. If I'm correct about Invesco, the buy-back cash could have been used to buy out some of Invesco on the very cheap, to the benefit of remaining shareholders. However, views on ALM BoD very similar to views on Invesco.

[bobonumber1] 23/6/2021 14:09

Why would they back the board at the agm 1 month ago to sell into a buy back at circa 21 p when they could have backed Bernstein and sold their entire position on a cheap liquidation at say 40p

[buffettjnr] 23/6/2021 13:50

They are thoroughly useless

[spectoacc] 23/6/2021 13:38

Invesco are inept IMO. My guess is they want out, and eventually we'll get a Holdings RNS saying they've reduced what they can into the buyback.

[bobonumber1] 23/6/2021 13:32

I don't believe investco want out. If they did they would have voted alongside Bernstein at the agm. They chose to side with the board even though Bernstein must have tried to persuade them not to. The same applies for GIC. Their investment arm also sorted the funding for Orbitals last round. Bernstein wanted to liquidate the company on the cheap. Investco therefore would have had the opportunity to get out. A fed IPO would be done at 10-20x revenue. So if they hit the $100m + Rev then you have your billion $ company and fed alone worth 6x current share price for ALM

[spectoacc] 23/6/2021 10:50

718k & 768p at 20p & 20.1p - is this buyback simply going to buy a few of Invesco's that they want rid of? 20.9% of the co last RNS I saw (about 102m shares?).

As before - this isn't "returning $3m to shareholders", not unless you're the one selling to them. I'm with Terry Smith on buybacks.

[believer2] 23/6/2021 10:44

Look at Fed jobs - they are looking for a new CEO with ipo experience- keep the faith

[kooba] 23/6/2021 08:01

Celebrating another write off ( ($50m odd in total and over $4m put in a year ago) with a share buyback, whoop whoop...likely last a week.https://blocksandfiles.com/2020/07/23/spin-memory-funding/

[buffettjnr] 23/6/2021 07:43

Surprisingly positive

[spectoacc] 23/6/2021 07:23

I eat my words, a buy-back after all. For all of $3m, but still - it's something.

Tho standard American:


"With the developments at Spin Memory, we now hold excess capital within the Group which we are pleased to be able to return to shareholders via a share buyback."


It's not "returned to shareholders", is it. And without control over in the remaining investee co's, how can they be sure they won't need it?

Spin looking like zero, ALM having invested over $50m. They'd previously warned of us that, but it's still a blow. Token buyback presumably an attempt to placate.