Allied Minds Share Discussion Threads

[davesailing] 21/3/2022 14:50

13 Aug 2021 - Mr. Harry T. Rein Non-Executive Director, ChairmanBuy: 100000 shares at 0.35 USD per share.Total shares held 215,991

[kooba] 17/3/2022 09:06

As well as that Metage declarable interest a few new names just under the wire have emerged under takeover rules disclosures The real king maker is obviously Invesco though who have previously backed the management , whichever way they vote ( if it comes to that) would appear to carry the day.Hoping they have woken up and smelt the coffee.

[wbodger] 17/3/2022 08:30

There is a holder of 3.62% since March 8th: Metage Capital, whose holding would be enough to change the outcome of the HR+BF vote. (My suspicious mind looks for coincidences everywhere: at this point kingmakers can exercise influence by investing just a few million pounds. Metage's 3.62% would have cost them under £2 million.)

This is going to be interesting.

[kooba] 16/3/2022 20:18

It seems unlikely MP will vote for CRS resolutions as he has just accepted a role from Harry as a consultant ..probably thinks this gives him a seat at the table to influence the management of the company ..it's unclear whether he knew the fire sale plan before taking a paid role in helping strategy but must seem likely. So he must be in favour of supporting Harry and the fire sale plan that the board was strongly against only 11 months ago.I don't think the balance of shareholder votes rests with 5% shareholders anymore but I think was a factor in the 47% AGM vote. Think it rest more with institutional investors and whether they think venture capital like returns are at all realistic on current evidence.I , like bobo can see value in the remaining holdings but I have no faith in the current board in having the savvy to protect our position or handle disposals competently..since they have 360'ed on their opinion of seeking to sell the company or secondary market sales in less than a year it seems they are going against their better judgement to try to save their skins. Definitely not a position anyone should support.MP might have a role going forward if he has the ability to add value to a monetisation process he hasn't been responsible for direction for many years but I think aligning with team Harry was a mistake. Personal view obviously unsure as to why he joined a dysfunctional management set up ..likely to try to save what's left of the value of his holding..better late than never i guess but the problem is with the management and being a consultant does nothing but make you inside and unable to challenge..think ML knows that one !

[kooba] 16/3/2022 18:48

And he seems to have a fan club !I couldn't find much recent stuff though he was chair of a few companies 10 or so years ago.Gets a mention here.https://www.thisismoney.co.uk/money/article-1260736/CITY-FOCUS-FSA-closes-net-Square-Mile-cheating.html

[bobonumber1] 16/3/2022 14:35

Spiritual leader

[believer2] 16/3/2022 13:08

He was the original owner - founder

[wbodger] 16/3/2022 13:01

I've been trying to find references to Mark Pritchard, unsuccessfully before the RNS of 15/3. But he was mentioned in posts before that date so some of you were already aware of him.

Who is he, other than an investor in ALM? Will he vote with RB to remove the Chairman or is this going to go on and on. 47% voted HR-out last time so MP's 5% would be decisive.

[kooba] 14/3/2022 19:51

The plan has been set in motion by H B and M I guess ..everything is up for sale as a whole or in part ..what we are looking at now is who overseas the process and decides whether it represents value to shareholders ..maybe CRS puts a direct rep on board ..they have a large holding and are motivated to maximise value in a limited time frame ..any reason why MP couldn't go on as a non executive if he thinks he can add value? Don't quite understand the can't serve as not US ..the company is registered office is in Exeter !

[kooba] 14/3/2022 19:41

I can you know!

[bobonumber1] 14/3/2022 18:56

My understanding was around 120/130000 remuneration. Not huge and in keeping with a main market listed company. The rest of the costs are normal main market listing costs. Listen. The guys useless and I have strong reservations about voting for him, but you can't vote him out with no other plan or path.

[kooba] 14/3/2022 18:22

"The directors are not paid extortionately high wages. "In the company's articles it states no non executive should earn over £100,000. What is harry on again ??

[bobonumber1] 14/3/2022 17:38

Rgm / Egm to be held in London. There is not much difference. It is an expense for the company when there is an agm taking place in June anyhow. The requisitioner has not given any alternative plans or vision. The IG platform for instance need 2 weeks notice to vote for a motion. The costs are high as a result of being listed on the main market. The directors are not paid extortionately high wages. Harry is useless no doubt, but you can't vote for nothing !! What a shambles.

[kooba] 14/3/2022 16:24

I get you believer2 ! Happy to walk away with something resembling value.RB of CRS has invested in many companies over the years i guess and often has challenged underperforming managements in the process . Chairmen , CEO'S and all the NED's of company's were lost along the way ..but most changes have had a very beneficial impact on the share price ultimately. It's the way activism works . Often though a sensible management might actually take on board what some of its shareholders want and relations are cordial. i see it as a good thing not a bad thing as some on here seem to think. Perhaps if some had been stronger and not allowed this fiasco to continue as far as it has shareholder value might have been saved. The down round on Federated Wireless is a disaster for shareholders..when we were continually guided to a big up round all year...were opportunities missed..was it left too long to go for a round , did ALM shareholders get beaten up by Cerberus on the terms. I reckon yes to the above ..and who was Chairing Federated Wireless..protecting ALM shareholder interests..yes good old Harry. The man to lead this to a conclusion..i think not.Just a thought ..i wonder if RB did want the fire sale as the current strategy has zero evidence of achieving decent exits...and team Harry have just copied it and run with it to spoil CRS plans...oh what japes!!

[kooba] 14/3/2022 16:04

It's a General Meeting of course not an EGM ...NOTHING extraordinary trying to get rid of Harry ! I imagine if Harry realises the game is up will walk rather than go the whole way to a vote..he undoubtedly will be canvassing now..he should be able to add up the big numbers and come to a conclusion soon enough. Has a date for the results and an AGM been called, i must have missed it. Why is this a huge expense relative to the huge expenses the company get through every year..i imagine since they called a monetisation strategy 3 years ago the company has got through $20m in cash on A&G and then theres the continuing losses on investments which might run to $100m ...ain't peanuts is it. What is the cost exactly of a GM?Last line answers YES then by definition i think NO.

[believer2] 14/3/2022 15:44

I didn’t mean he was RB man in any sense other than proposed by him - tbh CRSneedto give us a game plan - that’s all - I don’t care who calls the shots now I just want it sorted - a bad investment decision put to bed.

I think RB has done us a favour

[believer2] 14/3/2022 15:43

Mmm I hate technology - I’ve lost a reply from Kooba and posted 3 times - sorry

From a female perspective - we are all on the same frustrated page and much is out of our hands - as I said I accept I made a bad investment decision and am fed up with looking at it.

In the absence of a plan from Mr B I am hoping that Mr P will come good - he has a bigger interest than Harry and Bruce

[believer2] 14/3/2022 15:43

I didn’t mean he was RB man in any sense other than proposed by him - tbh CRSneedto give us a game plan - that’s all - I don’t care who calls the shots now I just want it sorted - a bad investment decision put to bed.

I think RB has done us a favour

[kooba] 14/3/2022 15:07

Bit of clarity on Mark Lerdal..he was proposed to the board by CRS ..He was not CRS man ..don't think he works for them or ever has , the link seems to be Leaf Clean Energy that ML wound up highly successfully for shareholders (including CRS) think it repaid multiples after successful US litigation. It was a UK listed company with US interests that needed careful management to get a return for shareholders..no idea why CRS nominated him for the board ! Seems like the kind of guy this company actually needs to me not team Harry...I watched the CMD again recently can't help thinking of Droopy when i see Harry..sorry.

[kooba] 14/3/2022 14:46

To be fair bobo its not you CRS need to talk to ..if other institutions want change it wont go to a vote anyway i guess.I think the ML position has been untenable for a while as he has been completely sidelined, i think the communication of the support for Harry and the attack on CRS just made him realise there was no point in being on the board under Harry and Bruce any further and could not serve with them. I have reread the communication and to suggest RB has destroyed shareholder value is deluded and quite likely libellous ..he has never had a role in the company, and if a suggestion that challenging a management who serially underperform is anything but correct shareholder governance then they are mad as well as incompetent.Slight problem with the let them carry there could be great value ahead is that they have called a fire sale..now i note you blame CRS for this, which is very strange..i don't think thats his plan? i certainly haven't read anything like that..but if the suggestion is that they have called the fire sale to save Harrys back but it is against their better judgement and against the interests of shareholders then you should definitely vote against Harry because if he is that fickle and changes his mind for personal reasons ( both Harry and Bruce have stated selling in the secondary market is in no one's interest less than a year ago) then the man shouldn't be anywhere near listed company's looking after shareholders interests.The sale process might not be stoppable ..they have appointed Numis and its difficult getting these things back in the bottle!The other problem is that they are chugging through money and haven't got unlimited time to "maximise" the return to shareholders.I would be happy to cough more money in a rights under a new management if one could see multiples in a few years i guess...but only under a new management. I do not trust anything current lot say as it has all gone against any guidance they have given the whole year. Shareholders deserve better.

[believer2] 14/3/2022 11:00

I agree with you Bobo- unfortunately in absence of a plan from CRS I will stick with HR and MP - Also ML was RB man in place so his moves made ML position untenable I should think .