Allied Minds Share Discussion Threads

[wbodger] 26/8/2022 12:36

Unless governance is improved it's doomed anyway. At least CA has a plan, (Otherwise what's the point of Dobbyn & McDonald.)

But I'll back off, for others to chip in. The share price plunge seems to have stopped and it doesn't look like a dead cat bounce.

[kooba] 26/8/2022 11:45

From report and accounts in JuneThis is where we were pre singular de list announcement.No mention of listing then and now no mention of the actual purpose of the strategic review to achieve strategic objective of returning value to shareholders.Just not joined up. Corporate DevelopmentsPost-period end, Allied Minds announced in March 2022 that it will undertake a formal review of the Company's strategic options (the "Strategic Review") including, but are not limited to, a sale of the Company itself, which the Board intends to conduct under the framework of a "Formal Sale Process" in accordance with Rules 2.4 and 2.6 of the Takeover Code, alternatively, to seek to distribute certain assets and any cash reserves directly back to shareholders through a re-structure.

[wbodger] 26/8/2022 10:18

#3284, all fair points, although perhaps the overpayment to administration goes away when there is a more slimmed-down shareholder list. (More chance of it anyway.)

The Chairman is a diversion, more like a play-school appointment and surely not one that Bruce is desperate to keep. Dobbyn looks like an alternative CEO. They should have a more realistic fee structure as not-listed.

The major players will be more concentrated and as instis better able to invest for gain, or vote through a diluting placement instead of watching the share price crucified by the market when a placement is annoounced.

Your point about no prospect of exit for years is right but I don't see a way out of that. As unlisted it will be a bottom-drawer-and-forget investment. (Save me, Dobbyn. Put a time limit for wind-up.)

[bobonumber1] 26/8/2022 10:07

Delisting only means you can't get out when you want. If you are still in now then I doubt you are selling at any price. Alm cannot continue as a listed entity with circa $9mill cash, without a buyer there is no other option. Running costs should go down to circa 700k per year if they are unquoted, meaning the rest of the $ can go towards bc or orbital financing, thus holding our %. Institutions must be onboard already. If you look at the voting patterns at the AGM, you can see they voted for everything except the remuneration package. Alm would not have announced this without sounding out the major holders first. Therefore they must have the nod that they are backed in this process.

[kooba] 26/8/2022 09:16

I think the announcement is to facilitate a discussion with major holders as such , so unclear folks positions just now. Obviously Castilian were not in favour or even saw it coming as have dumped.Some maybe able to value their shareholding closer to NAV if they are delisted i guess which could work in their favour...maybe we might see more of this in such situations? But it doesn't work for private shareholders.However since ALM are meant to be in run down mode and should have been for 3 years i not sure just delisting gets us any closer to delivering on strategic goals. The company gives shareholders no update on the underlying assets.We had had a CMD in April and a holdings update in August last year. Whilst we have seen the fundraise announcement from FW we have no up to date information on underlying portfolio trading. Really does question where the $5.5m odd to run this company goes? And since they do so little already what exactly will one get if its further away from regulation. Will we ever hear anything at all ??Strategically though i question is how do they deliver realistic monetisation in a short term timeframe rather than how do they finally address the ridiculous central costs.If they deliver in 12 months theres no great saving in de listing..if they are signalling there is no prospect for many many years i suggest they inform shareholders as that is clearly different from any public time frames the company has released.

[wbodger] 26/8/2022 09:02

I didn't think CA would block the delist (#3276), I thought more likely they were behind it, because their own share price didn't even twitch. Metage might be their facilitator. Anyway Simon Thompson is right in hanging with it.

[kooba] 26/8/2022 08:52

https://www.investorschronicle.co.uk/comment/2020/10/19/technology-winners-with-a-huge-margin-of-safety/Seller of huge margin of safety there Simon!!

[spectoacc] 26/8/2022 08:46

Is like he's only just discovered it. Cash, sum-of-the-parts, realisation - all true 4 years ago, 3 years ago, 2 years ago, a year ago, and likely true in a year's time too.

[kooba] 26/8/2022 08:41

Looks like the seller cleared..will get the details no doubt later on.Simon Thompson..who hasn't shone on this one.https://www.investorschronicle.co.uk/ideas/2022/08/25/on-the-hunt-for-tech-bargains/On the hunt for tech bargainsShares in two small-cap technology companies have been savaged this year, but at such depressed valuations the investment risk is skewed to the upsideAugust 25, 2022By Simon ThompsonInvestors invariably head for the exit on news of a potential de-listing. This was the case with Allied Minds (ALM:10p), a Boston-based intellectual property (IP) commercialisation company focused on investing in early-stage companies with disruptive technologies.As part of a strategic review that could lead to an outright sale of the company, or distribution of assets and cash, the board are consulting with shareholders to ascertain the level of support for a de-listing to save on listing fees. Allied Minds' share price had been trading above the level of my last update ('An unloved deep value play', 17 June 2022), but tanked on the news.I would not sell out at these depressed levels as the group's largest holding, Federal Wireless, is alone worth $72.3mn (25.6p a share), or 2.5 times Allieds Minds market capitalision of £24mn. That technology group is reshaping wireless connectivity for cloud-based technologies by providing customers with a high performance, accessible and secure private wireless network.Including proforma net cash of $13.4mn (4.75p a share) and other holdings, Allied Minds' sum-of-the-parts valuation of 36p a share is 3.6 times the current share price. Even as an unlisted entity, the investment risk is skewed firmly to the upside.

[kooba] 25/8/2022 18:41

Well could be ongoing Castilian selling 3m Metage buying 3m plus some associated..unfortunately the price indicates sellers still dominate for now.

[davesailing] 25/8/2022 18:09

Over 7M shares purchased in 5 trades today - who is buying them?

[kooba] 25/8/2022 18:07

Volume spiked again on late prints ..Some more disclosure to come i guess.

[kooba] 25/8/2022 16:58

Looking more closely Castilian is the seller gone from 8m to 3m and likely were ongoing clearing the remaining 3m today.We find out tomorrow.Hoping CA block the delist !

[kooba] 25/8/2022 16:20

While i was typing there it is the buyer of 5.5m odd...Metage previously a holder now increased..think they are all getting their disclosures confused..Metage earlier did an opening disclosure with new amount now have put out a dealing one showing yesterdays transaction.Least there is a decent buyer there.What are invesco up to though..they brought the new directors in ..then dump out on first announcement of de-list idea that they presumably support. Thanks for playing!

[davesailing] 25/8/2022 16:03

Do you know if Allied Minds are being investigated by the FCA? Seems to have been many irregularities over the last couple of years.....

[davesailing] 25/8/2022 15:51

I agree Invesco Form 8.3 submission looks incorrect to me!

[davesailing] 25/8/2022 15:49

So there should have been some more disclosures today by 3.30pm looking at the size of the yesterdays trades...... only seen the one disclosure (@13:29 today) from Invesco with a 1M share sale

[kooba] 25/8/2022 15:48

A section 8.3a is an opening position a section 8.3b is a dealing disclosure. The fact there is a market price means there is a transaction. Also I think opening disclosures made 6 months ago...maybe have to be repeated as others have made opening disclosures.Opening Position DisclosureUnder Rule 8.3 (a), an Opening Position Disclosure must be made by any person interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror.The Disclosure must be made no later than 3.30 pm on the 10th business day following the commencement of the offer period or the announcement that first identifies an offeror, as the case may be.

[kooba] 25/8/2022 15:45

Invesco is a bit odd it shows no change in holding but clearly states sold 1m at 11p.

[davesailing] 25/8/2022 15:45

Posted on Thu 25 Aug 2022 @ 13:29 Form 8.3 section 3 (a)

[kooba] 25/8/2022 15:43

Next day disclosure on takeover panel rules.Public Dealing DisclosureUnder, Rule 8.3(b) , Public Dealing Disclosure must be made by any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror if the person deals in any relevant securities of the offeree company or of any securities exchange offeror.This means that a Disclosure will be required where, for example, you own greater than 1% in the offeror but only 0.2% in the offeree, but have a transaction to increase that holding to 0.3% in the offferee or, for example, reduce your holding in the offeree to 0.15%. Equally, you would make a disclosure where you have greater than 1% in the offeree but less than 1% in the offeror and then make a trade in respect of the offeror.The Disclosure must be made no later than 3.30 pm on the business day following the date of the relevant dealing.

[davesailing] 25/8/2022 14:53

Posted on ADVFN

[bobonumber1] 25/8/2022 14:45

Where do you see invesco sale disclosure ?