Share Name Share Symbol Market Type Share ISIN Share Description
Allied Minds Plc LSE:ALM London Ordinary Share GB00BLRLH124 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50 -2.17% 22.50 1,236,841 16:35:25
Bid Price Offer Price High Price Low Price Open Price
22.10 24.00 22.40 22.10 22.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.48 -55.50 -22.00 54
Last Trade Time Trade Type Trade Size Trade Price Currency
16:36:21 O 575,000 22.41 GBX

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Date Time Title Posts
09/6/202115:53ALLIED MINDS2,502
25/7/201619:23new thread: is ALM worth a punt now?602
29/5/201009:30Alphameric another tech shit rubbish share44
25/3/201009:13ALM: Is EVERYONE jumping ship???21

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Allied Minds Daily Update: Allied Minds Plc is listed in the General Financial sector of the London Stock Exchange with ticker ALM. The last closing price for Allied Minds was 23p.
Allied Minds Plc has a 4 week average price of 21.50p and a 12 week average price of 21.50p.
The 1 year high share price is 45p while the 1 year low share price is currently 21.50p.
There are currently 242,187,985 shares in issue and the average daily traded volume is 326,145 shares. The market capitalisation of Allied Minds Plc is £54,492,296.63.
spectoacc: Reading the OcuTerra RNS from last week, positive enough, but wondering when something like that ever gets monetised: "...The second close includes an additional $8.96 million, taking the total proceeds of the Series B funding round to $23.59 million. As previously disclosed, proceeds from the round will be used to prepare for, conduct and report on the results of a future Phase II clinical trial of its OTT166 asset, among other working capital needs. The transaction was completed at a pre-money valuation of $16.0 million. Allied Minds' existing shares of Special Convertible Stock (purchased at an aggregate purchase price of $2.0 million) automatically converted into shares of Series B Preferred Stock. Following the second closing, Allied Minds' ownership of issued share capital is 21.5% and fully-diluted ownership is 16.6%. " "..Prepare for, conduct and report....future Phase II...". Know it's not a big one in the NAV, but no hint the directors plan for the ALM gravy train to end anytime soon. At some point there's a cash crunch.
kooba: All companies have merit and if they all hit projections then this time next year Rodney...But they kept saying there was virtually nothing they can do as not majority owners in forcing pretty much out of their hands if the strategic investors don't agree. And that it is too early to sell anything to obtain a realistic price. Be lucky in a fire sale to achieve share price let alone NAV.Which leaves the fate of the company somewhat out of their hands and somewhere down the current Q $2.6M if i heard right looking at $17m for the year but and a big but i heard a run rate of $40m by end of the year. So instead of revenue of $40m for 2022 one should be looking far higher..even if the rate of revenue growth slowed you could be looking at $60-$80m for this could truly be quite a different proposition if they achieve this as with that growth in a hot market a 8-10 times revenue multiple could figure on exit .If they hit these targets.Thing that worries is they massively missed last year ..but the ceo said covid was a positive for the connectivity industry maybe referring to the covid thaw and that from here on its all sunshine but doesnt totally explain last year which was meant to be the big leap forward ..and wasn't.Should be a clearer picture middle of the year but could be decent upside on current value ..if they dont get diluted badly in likely late '21 early '22 funding round.
spectoacc: Brilliant if they get Lerdal in as Chairman but that entire CRS statement says as much about CRS as it does about ALM I fear. A comedy of errors, all of which were pointed out on this BB at the time, but also a continuation of years of similar errors out of ALM. CRS aren't a new shareholder, they've been major owners (& pumpers, via their reports) all this time, with their man Lerdal in for over a year (albeit as a non-exec). Hope for shareholders' sakes that CRS really do take hold of ALM now, and hope that when they do, there's plenty there to be recovered. Currently unclear where the next good news comes from.
spectoacc: Tax losses must be an angle - surely. But fact remains - ALM has regularly looked an absolute bargain, and every single time has proven to be a value trap. There's a wonderful note from 2015, when ALM was £5/share, saying what a pile of dog poo it was. I bet even they didn't see 25p coming. Good luck to holders, it undeniably looks cheap. But if anything went awry at Federated.... Edit - found it, for anyone interested. Don't need to read far: hTTps://
spectoacc: I fear I agree. Trumpeting the 12p divi from early 2020 AGAIN is ridiculous. CEO gone in that time at least - why did ALM need such a big board? - and there does seem to have been genuine progress in most of the holdings. But most of them are small, and the SPAC bubble we're in now is a golden opportunity to reverse FW and return shareholders a big wad of cash. As you say @kooba, perhaps then try to flog the rest to PE. Disappointed with the cash burn - which shouldn't have been an issue because you'd think we'd have been all done by now. There's value in ALM IMO, but rarely much progress.
kooba: From yesterday commentary from largest shareholder Crystal Amber who I am sure were somewhat involved with recent board restructuring and hopefully moving the board to secure early value through monetisation of remaining holdings. Interesting stating the idea of a reverse into a SPAC, with way things are going in the listed US tech small cos could achieve a big valuation lift.Seeing decent upside on current levels on known info alone.Allied Minds plc ("Allied Minds")Following its initial investment in the fourth quarter of 2018, the Fund focused on securing a major reduction in the excessive parent company costs of Allied Minds: ongoing HQ expenses were running at an estimated US$17-20 million at the time. These have now been reduced to approximately $5.75 million per annum. In response to concerted pressure exerted by the Fund, Allied Minds ended its extraordinary practice of paying management 10% of gains arising from any successful individual investment, without taking account of the losses incurred on other investments in the portfolio (the "Phantom Plan").In October 2020, Allied Minds released its interim results and referred to the "underlying strength of the portfolio". Spin Memory was described as "the preeminent MRAM IP provider [...] transforming the semiconductor industry". Reassuringly, it was stated that "Spin Memory has made significant progress against its key operational objectives since its last funding round". Allied Minds'43% shareholding in Spin Memory, based on that last funding round, was valued at $77 million. This compares with its $44 million cash cost since 2006. In July 2020, Allied Minds invested a further $4 million into Spin Memory. Spin Memory's carrying value therefore comprised around 35% of net asset value. After 15 years, Spin Memory remains a "pre-revenue" business.Following this update, the Fund held detailed discussions with the board of Allied Minds and expressed its concerns.On 4 January 2021, Allied Minds announced that due to COVID-19, the required testing of Spin Memory's chip had been delayed for nearly nine months, that this delay had affected Spin Memory's ability to secure new customers and that as a result, this, coupled with an unexpected loss of a government bid in late Q4 2020, Spin Memory is now facing liquidity issues. The contemplated funding round is expected to be at a far lower valuation than its carrying value.On 15 January 2021, Allied Minds announced that its Chief Executive had "decided to step down from the board with immediate effect." Going forward, the portfolio will be managed by the three non-executive directors. The Fund welcomes the streamlined management of the portfolio, in which three companies comprise more than 90% of the latest reported carrying value.The Fund notes that the current 28p share price compares with an estimated 26p per share carrying value of the 36.6% holding in Federated Wireless together with parent company cash of 6p per share. Holdings in BridgeComm, Orbital Sidekicks, TableUp and Spark Insights are together valued at 12p per share. Whilst there is uncertainty as to the current value of the Spin Memory holding, the Fund estimates that at least 5p per share could be achievable. Overall, therefore, to trade at the Fund's estimated net asset value of Allied Minds, the share price would have to increase by 75%.The Fund expects the Allied Minds board to proactively seek to realise the inherent value of the portfolio in a timely manner and return proceeds to shareholders. It should be open to any structure that could achieve this objective including, if considered appropriate, reversing Federated Wireless into a Special Purpose Acquisition Vehicle (SPAC).Over the period, the share price of Allied Minds declined by 10%.
kooba: Edison update today..not been particularly reliable on its numbers earlier this year! But certainly teeing up a huge write off on Spin..if zero then NAV goes from previous 63p to 43p ...for some reason I'm not reading the update as that positive as this was one of their two larger holdings..the other apart from federated dont add up to much . So the Spin ..get that all their holdings doing fine and should be up rounds apart from one but that wipes 20p off NAV...all going swimmingly then !!As to whether they have the leverage to influence up rounds on other holdings or get stuffed by new investors coming in we'll have to see. But in a world of super returns in technology sectors they seem to have managed to have narrowed down their holdings to some disappointing dogs, missing all the right sectors.Such a tail of woe and 100sM down the drain.Edison comment..nb this is paid for promotional research so worse case scenarios are pretty baked in ...amusing they say 43p nav would underpin the share price of 32p when they have traded at 40-50% discount recently.Also the cash is depleting by about $500k a month.In its strategic update, management highlighted robust commercial progress across the majority of Allied Minds' portfolio in FY20 (notably at Federated Wireless, BridgeComm and Orbital Sidekick), expected to be reflected by multiple funding rounds in FY21. Spin Memory was the exception, where, although technical progress has been made, six to nine months of commercial progress was lost with the closure of its foundry due to COVID-19. Together with the unexpected loss of a government bid, management now anticipates a down round for Spin Memory in FY21 at a 'significantly reduced valuation'. With estimated parent cash of US$20.4m at year end, Allied Minds remains sufficiently capitalised. As a floor, our estimate of parent cash (6.2p) plus our estimate for Federated Wireless (23.9p fully diluted) underpins the current share price (32.3p at close on 6 January 2021). Even entirely setting aside Spin Memory, Allied Minds' remaining holdings plus parent cash total 43.1p.
spectoacc: In answer: 1. The former Woody holding in ALM was down to about 2% - isn't clear if they've sold it yet as may not have to report it below 3% 2. Invesco seem to be selling down many of their smaller holdings, and as you say, at this level they're seemingly unfussed at the price as long as it's near enough "market" 3. I expect the ALM share price to fall by less than the divi - but still fall by much of it. Based on discount. 4. I woke up in the night and realised - Simon Thompson is going to be all over ALM when he finally spots it. He had LEAF, he had CRS until moving to sell. Can't stand him, but he'll get round to spotting ALM and tip it big. Am convinced of it. Can all his acolytes move the price? Not much, not with Invesco selling, but eg 250 buyers won't do share price any harm. Edit - thanks @flyfisher, noted re write-offs, but the change to the Phantom Plan should have increased NAV. Also remembered CRS's original proposal to ALM: "Crystal Amber suggests it could cut the annual costs of running Allied Minds by 70%. The fund also said that if it can sell Allied Minds' investments for more than 80 pence a share, it would take a 10% performance fee on any excess. " Hope it's a good sign that they were willing to take 10% over 80p originally.
geordieshores: Thought the price would have increased more today. Some people might be waiting closer to the 24th to see if the price drops, but the risk you take waiting is that the price might increase before the 24th so it will be more expensive to get in.Something else that could affect the price of course the dividend. Dividends can be a complex subject. Sometimes on the ex dividend date the share price drops by roughly the amount of the dividend.QUESTION: imagine the price stays the same eg 52p. Will it drop to 40p after the payment of the 12.65p dividend to reflect the price of the dividend as often happens with other shares that pay a dividend.This ALM dividend is classed as a special dividend, so maybe the share price will stay roughly the same after the dividend has been paid?Does anyone have any other views or opinions on what they think might happen?12.65p as a percentage of 52p is almost a 25% yield. And because it's a special dividend, I can't see the share price falling by 25% after its been paid. In fact, Allied Minds are due to release more news to the market soon (see recent RNS about tie up with Boeing) which means the share price might actually increase without the news of the special dividend.
spectoacc: Strange, CRS buying all these shares, yet doing absolutely nothing about it. If they were, there surely wouldn't have been the director buy. No reply from CRS or ALM IR's. Edit - and not sure what happens to ALM share price when CRS run out of money. Their recent record doesn't inspire (to say the least), but selling bits of other holdings to buy more ALM seems a good sign, and I've added again.
Allied Minds share price data is direct from the London Stock Exchange
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