Allied Minds Share Discussion Threads

[bobonumber1] 02/11/2022 12:08

There will be an alt market similar to what brewdog have. Liquidity might not be great though. Otherwise money will be via capital return on a liquidation event of the whole Co or individual subs.

[kadvfn1] 02/11/2022 12:00

Hi, so how do we monetise our shares if we hold it through the delisting? Any help and pointers are much appreciated

[bobonumber1] 02/11/2022 11:07

The fairest system is 75% of the vote.

[spectoacc] 02/11/2022 09:49

70% is a decent turnout for these sort of votes, but agree it was probably mainly the major shareholders. I've two brokers who make voting easy (iii in particular) and one who wants £20 each time.

Must admit I rarely vote except through iii.

[wbodger] 02/11/2022 09:28

Yes. 97% of 69% registered for the meeting. If the requirement was for 75% of all the equity it would not have passed.

My broker, like other execution only brokers, did not offer an easy option to vote. Certificates are portable, perhaps that's why. But it was always going to pass, it was just a question of what constitutes authority to delist: 75% of votes registered or 75% of all equity.

[spectoacc] 02/11/2022 08:06

The opening drop suggests some thought the vote may not pass? It got 97% approval.

[wbodger] 31/10/2022 20:58

And waited for the delist drop to kick in so he got the lower price.

I'm cheered by the fact that Dobbyn made a reasonable investment which he would probably have side-stepped if he suspected it was £60,000 down the drain.

SP could continue to drop if delist goes through. Metage probably scooping up some more. Also First Equity grabbing fistfulls, up to 2% in a day.

Cautiously hopeful whatever happens tomorrow.

[bobonumber1] 31/10/2022 19:25

He bought 10ks worth! Pathetic really. Dobbyn bought 60k at least

[kooba] 31/10/2022 16:53

I suppose the Bruce finally tucking in taking shares from distressed shareholders before delist seems a positive..well it is for him !..but he has failed to deliver on promises of disposals and is now taking advantage of the weakness he is responsible for ! He sits there earning nice fees popping some back in at a significant discount to the asset value that has fallen every year since he got involved doesn't feel that great. His companies..Spark , Bridgecomm ..disasters, more money in for negative return. Bloody hopeless.

[wbodger] 27/10/2022 10:52

We'll know on Tuesday. Meeting starts in Boston at 10 AM (4PM UK time). We revert to winter time GMT this weekend but US reverts a week later, six* hour difference for a week, so count of votes may not be released until LSE is closed. (No mobiles allowed at meeting!) [*Edit: the time zone change actually works the other way ... four hours difference for the week. But they didn't announce the vote till Wednesday opening. Apologies to whoever ticked me up.]

My broker didn't give me a voting option, without some prodding. The broker will have to issue certificates if it delists. Intention for delist is Wednesday November 30.

[bobonumber1] 26/10/2022 21:01

Around 23% I believe. If we do not delist then we won't see the end of 23 !

[wbodger] 26/10/2022 15:20

Afaiu OSK still hopes for six satellites during 2023 in three launches, beginning Feb.

Not sure what ALM's ordinary equity interest is now? The line in the half-year results reads preference share holding investment held at fair value.

I have voted against the delist, but would keep my shares in a certificate if it happens.

[kooba] 26/10/2022 07:28

https://twitter.com/orbitalsidekick/status/1584600743654305794?s=61&t=c07LstcUpnSfC3IIgyt_Vg

[wbodger] 22/10/2022 15:36

I trebled my holding earlier in the week - misread Ursus and Metage and overpaid.

If the delist goes through I will hope to recover well over 20 pence. If it doesn't there should be at least a partial retrace of the share price The risk is also obvious: that they delist and still can't monetise the portfolio.

[bobonumber1] 20/10/2022 10:11

I have just voted in favour of delisting

[kooba] 17/10/2022 13:46

Think CA were asking for an exit by tender for smaller investors..it does not appear anywhere that they actually got one agreed.

[wbodger] 17/10/2022 10:16

To be attractive the offer would have to be based on the share price of ALM shares before the delist move was tabled.

(I don't know where I got 5%-better-than-current-sp from, but anyway I can't see how it can be made to work.)

[wbodger] 17/10/2022 08:46

I thought I read it, but I can't find it. Maybe wrong.

Edit: here it is. CRS Final Results 30/09/22

[Crystal Amber] also believes that were a delisting to proceed, Allied Minds should offer private investors with shareholdings of up to 100,000 shares, the opportunity to tender their shares to the company for purchase. Allied Minds could purchase up to 5 per cent of its issued share capital, around 12 million shares. Doing so would be accretive to net asset value whilst providing private investors with a liquidity facility.

[bobonumber1] 17/10/2022 07:38

Where do you see an offer of current share price plus 5%?

[wbodger] 16/10/2022 18:23

They cost Dobbyn £60,000. He could only have bought about 330,000 shares for that when he was appointed. I can't criticise him for timing his purchase.

Also, I don't think he can be blamed for doing what he was appointed to do. The market has had three months to adjust to his appointment. This is from the June 27 RNS:
Sam Dobbyn is a UK-based corporate executive with deep public markets experience and a proven record of optimising shareholder returns. Until March 2022, he was CEO and previously CFO of Urban Exposure PLC where he reduced the cost base, managed a sale process and ultimately delivered a successful delisting of the business.

That was an unmistakable signal when the share price was over 18 pence. It has only cost shareholders money if they would have sold after that June 27 RNS and didn't act immediately. The share price remained over 18 for two months.

For me it is irritating to have to hold on indefinitely, but I hope it will give me a better exit in the end. I will certainly ignore any offer of 5% better than this depressed market price. My minimum would be 20 pence and they won't be offering that.

[kooba] 16/10/2022 09:40

Director purchase..should be encouraging to those holding on.The fact they've trashed the price through delisting and then bought another matter!ALLIED MINDS PLC(the "Company")PDMR NotificationThe Company announces that Sam Dobbyn, a Non-Executive Director of the Company and a person discharging managerial responsibilities in the Company ("PDMR"), on 13 October 2022, has purchased 588,235 ordinary shares at a price of 10.2 pence per share.

[bobonumber1] 13/10/2022 09:49

The cash is worth around 4p so currently the rest of the portfolio valued at around 5p. Cerberus invested $55mill into Fed @ around 26p 6 months ago.

[wbodger] 12/10/2022 19:27

Metage's holding in the Notice circular was 6.55%, and has gone up to 6.94% in today's RNS. So they are more than on board, they see value in the unlisted company. I thought they might be Bernstein's facilitator in some of the moves that have to be made by CA. Right or wrong, it is relevant that they are adding.