Augmentum Fintech Share Discussion Threads

[foetus in your brain] 21/10/2024 06:57

You could actually say the definition of buybacks is "investing in the business".

[skyship] 21/10/2024 06:46

Hmm - difficult to get a better return when a buyback currently results in an immediate 72% profit!

[toffeeman] 20/10/2024 18:32

>> Sky

I have always been negative on buybacks - to me it means they cannot invest in the business to get a better return.

[kenmitch] 20/10/2024 15:34

Agree about the absurd undervaluation SKYSHIP.

As for the bizarre share price reaction to their buybacks, that’s happening with so many Trusts buying back, with Managers sometimes expressing their surprise and disappointment that the effect on the share price and discount to NAV has been disappointing. I’m not surprised nor disappointed as it needs reality to show investors and Managers and commentators that buybacks aren’t a no brainer when Trusts are trading at big discounts to NAV.

Too often so much has to be spent on buybacks just to achieve a couple of pence increase in NAV. And there’s nowt to stop the discount widening even more when Investment Trusts are buying back their shares.

[skyship] 20/10/2024 15:13

Absurd under-valuation again. At 97p we are on a 42% discount!

Glad to see they are continuing with the buybacks; helps the NAV but bizarrely not helping the share price ..

[peterrr3] 18/10/2024 15:27

The RNS stated no change in NAV, I assume that references the last accounts, so maybe the terms of any convertible note produced a better outcome that could otherwise be extrapolated. I share concerns over Grover, but that is not why I am in AUGM.I also stopped buying a while ago and bought CHRY on the assumption it would catch AUGM, then I will kick some more over to even it out as both have some good looking assets.I've made some not particularly cleverly timed decisions of late but that one at least looks like it will work out ok.

[toffeeman] 18/10/2024 14:28

Well if AUGM did invest £7.4m they have booked a big loss as Farewill has gone for £13m and I am pretty sure AUGM does not own 57%!

[rimau1] 18/10/2024 12:36

Agree Riverman, i have a bad feeling about Grover but that is the whole point about a diversified investment portfolio i suppose, they can't all succeed, look at Chry and Wefox. I continue to add and have large positions in TMT, Chry, IPO and Augm. All with 3-5 year views.

[riverman77] 18/10/2024 10:22

Another issue is AUGM feels a bit sub scale - was wondering if the larger CHRY (c500m market cap) could snap us up? They now seem to have plenty of cash following recent exits - would make a good combination and with decent scale to attract newer investors.

[riverman77] 18/10/2024 10:06

Yes a couple of rather lacklustre exits doesn't help, but these are small positions. We really need news on one of the bigger holdings. Have a few concerns about Grover which was written down in last set of results, but all the others seem to be doing well. That said, I won't be topping up as have quite a few already and looks like it could drift lower until we get further news (results not till end of November I believe).

[its the oxman] 18/10/2024 09:27

Has market lost a bit of confidence with this kind of exit. Why the continued slide. Was thinking of buying but holding off for now.

[rimau1] 17/10/2024 11:22

AUGM invested 7.4m over 3 rounds, insignificant in portfolio terms but good to churn/recycle the less successful investments which i think we can agree Farewill was one of them.

[toffeeman] 17/10/2024 09:55

Farewill is being sold at less than the last raise.

[riverman77] 17/10/2024 08:33

Can't see Farewill in the top 10 holdings so presume this is only a small position (less than 3%). Still, good to get an exit at NAV when trading at a 40% discount (or 50% once stripping out cash).

[wsm812] 17/10/2024 07:28

AUGM knows this is great news, we know this is great news.....will the market latch on?

[peterrr3] 17/10/2024 06:47

I think carried at cost, looks like strong synergies in the acquisition by a listed entity so should hopefully realise value at last and provides for flexible exit opportunities. Overall a positive IMO.

[rimau1] 17/10/2024 06:23

Castelnau acquiring portfolio company Farewill for an EV of 12.9m in line with NAV. AUGM will receive shares in Castelnau. No details on lock in terms but liquid assets for a simple realisation at NAV is great news at these stock price levels. Fintech remains unloved here in the UK.

[kipper7] 14/10/2024 12:58

very positive news for AUGM re appointment of new chairman.
proper person with proper track record. wouldn't take it on unless he believed in it
im a buyer at these prices as feel discount to NAV wide enough to provide downside protection

[peterrr3] 13/10/2024 14:21

Let's hope they at least get their money back through XYB then.

[rimau1] 11/10/2024 09:51

Rescue, the base case would be that there is no value to AUGM in the sale. Book value nil.

[craigso] 11/10/2024 08:30

Exit or rescue?

I had the Monese App on my phone for awhile based on some kind of sign-up bonus. I could never figure out what the point of it was.

[rimau1] 11/10/2024 08:22

HSBC wrote off their investment in full recently so you can assume this will be fully written down in AUGM, it was an initial gbp5m investment so not particularly material.

[wsm812] 11/10/2024 07:26

No news on the deal yet, I guess it will be after approval

[peterrr3] 10/10/2024 17:54

Looks like an exit on Monesehttps://ffnews.com/newsarticle/fintech/pockit-acquires-monese-and-consolidates-position-as-leading-fintech-for-financially-underserved/

[mrscruff] 04/10/2024 14:02

Important macro news.

Long term yields rose today on very strong US jobs numbers implying a higher rate for longer in the dollar where financials operate but also influential on European yields. So more money is made from customer deposits that should more than cover any increase in lending.