Allied Minds Share Discussion Threads

[wbodger] 30/8/2022 10:03

What money for shareholders? Current market cap is £27.7 million. If anyone had offered that much for any one of the holdings (it would say very little for any of the others) they would probably have called a meeting anyway.

Either way we should find out when the delist meeting is called.

CA has to wind up in sixteen months. Their holding is worth under £5.5 million of the £27.7 million.

[kooba] 30/8/2022 06:28

Think its likely the US side selling..maybe cant hold unlisted? If the list found is right then they could have 4m left..it might be though that they have sold and it just Henley left on the register. Monetisations fail..buyback fail ..formal sale process fail..delist who knows but they are trying to push every button but the one that returns money to shareholders and in the meantime the assets shrink year in year out and only insiders are taking any money out...for what??

[wbodger] 29/8/2022 19:55

If Invesco managements are both singing from the same hymnbook they still have enough to block the outcome, 16.49% in total.

Maybe they have thrown in the towel, they basically sold over ten million last week. That's a big hit though, if they are going all the way down.

(Thanks for the figures, kooba. I had similar.)

[kooba] 29/8/2022 14:24

Yep not sure why not showing on that list ..think the holding comes through as Charles Stanley fraction over 6%. In 8.3 opening holdings.I wonder what Mr Pritchard thinks on delist..he is still a consultant one must think and presumably was behind the formal sale process that unfortunately seems to be going nowhere..is the delist the next idea..the company has had many ideas all of which has gone nowhere and seen assets shrink further.

[bobonumber1] 29/8/2022 09:57

You have the "Anderson's " around 6% also

[spob] 28/8/2022 19:49

Anyone have a reasonably accurate top shareholder list for this ?

[kooba] 27/8/2022 05:48

More the choice of words than me supporting the boards latest move.

Exorcism is the religious or spiritual practice of evicting demons, jinns, or other spiritual entities from a person, or an area, that is believed to be possessed.

[backinblack80] 27/8/2022 00:25

kooba,
"exorcised…wow thats a bit strong are you suggesting they are possessed? "

Really? How so? You reckon that they should stay?

[wbodger] 26/8/2022 17:14

I'll have a look over the weekend. Possibly goes back a ways?

[kooba] 26/8/2022 16:59

Yes original holding 8,687,237 plus 5.5m yesterday plus 1.45m today does indeed add up to their now declared 15.63m holding.I was meaning that the declared sales over declared purchases don't add up by a fair few M shares.. Metage haven't bought invesco and Castellian sales totalling 16m shares they bought about 7m last two days. Where's the other 9m gone? 3.75% of issued.

[wbodger] 26/8/2022 16:50

Declaration by Metage at 16:02 today. See above. Says they now have 1,450,000 more, 15,687,237 and the share total adds up.

I'm off, have a good weekend. Let's see on Tuesday.

[kooba] 26/8/2022 16:35

Metage was declarable with 8,687,237 3.62 % initial disclosure in March they then disclosed 5.5m purchase yesterday and the 1.45m today to take their holding to 5.94%.

The numbers don’t really add up with the invesco and Castellian sale as there is around 4% disparity..maybe retail has picked up balance but the prints were lumpy on both sides.

Maybe someone else to declare purchase?

[wbodger] 26/8/2022 16:24

It looks as if Metage had around 5 million shares before adding 9 million plus, probably the Invesco sale. The declared holding, 14,237,237, is about 5.7%. Invesco still has over 16% to negotiate with Metage, offer in market or keep (depending on plans). Other big holders according to Marketscreener include GIC at 8% and Mark Pritchard, 5.47%.

Crystal Amber has 18.2% of ALM.

I guess Invesco will make their best deal over the next weeks and exit but what do I know. DYOR always on my posts.

[kooba] 26/8/2022 14:14

We should find out later i guess.This is indicate to be yesterdays business.Anyone owning over 1% will need to report activity today.Anyone new acquiring 1% plus will ned to report today.Invesco has now sold 10m , over 4% in the past two days.Castellain has sold 6m , about 2.5% in past two days.Metage has bought 5.5m So expecting further disclosures..could be Metage.

[wbodger] 26/8/2022 13:54

Who to, Metage?

[kooba] 26/8/2022 13:51

Invesco Ltd.Sale 9,170,262 0.10 GBDeal undertaken yesterday?

[kooba] 26/8/2022 13:47

Invesco sells another 9m shares..wtf.I thought it was them pushing for the de-list then they dump when the idea is announced.Hardly a vote of confidence in the guys they have brought in or the company!And they still have 16.5%!

[kooba] 26/8/2022 12:47

I not at all sure that the new directors were CA nominations as you know CA was going GM route just to oust Harry...looks like Invesco was the architect of peace and i reckon they put the new guys forward. CA must have supported their appointment i guess but doesn't mean they support their first move to de list. The current Chair was on the capital markets call as a director confirming that no de-list was planned.

[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.