Forward Partners Share Discussion Threads

[spectoacc] 27/11/2023 07:49

Not a particularly generous offer from GROW, below current s/p, but all depends what GROW do on the 270p open offer.

[alfred] 31/7/2023 09:22

If only they were as good at investing as they are at divesting wealth.

[rambutan2] 20/7/2023 11:56

Ouch! 1.5m dropped at 15p yesterday. Rather desperate. Still a bit of a yawning gap between the dump and the current offer...

[melloteam] 17/5/2023 11:32

Just to let shareholders and prospective investors know that Forward Partners will be presenting on the 23rd of May next week at Mello2023.

We have created a two day physical investor conference (23rd & 24th May) at the Clayton Hotel and Conference Centre in Chiswick that will include 15 top quality keynote speakers, 12 educational workshops and panel sessions, 50 exhibiting companies plus over 80 company presentations for investors to evaluate and understand their current or future investments. For a £25 bonus add-on price delegates at Mello2023 are also invited to make it a three day visit and join us for the Mello2023 Virtual event the day after, Thursday 25th May.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[spectoacc] 27/2/2023 07:33

Just the 39.9% decline in NAV over the year to December. Market saying that's already going to be down a lot further.

[spectoacc] 23/9/2022 05:49

They exceeded! Said a decline of 26.4%, actually a decline of 23.9% - lol.

There'll be a point to buy I'm sure - would be very surprised if it was now.

"...A £7.3m reversal of the Carried Interest charge.". So that was the only thing stopping the fall being greater?

[rambutan2] 22/9/2022 20:23

And the number is... 85:

Forward Partners Group plc (LSE: FWD), the London-based investment firm specialising in supporting high growth, early-stage technology businesses, announces its interim results for the period to 30 June 2022.

Financial highlights

-- Venture Portfolio of 48 active companies with a Fair Value of GBP94.9m, inclusive of GBP6.3m new investments. This represents a decline in Fair Value of 23.9% exclusive of new investments. Our previous guidance was that Fair Value would be no less than GBP92.0m, a decline of 26.4%.

-- Operating profit before tax for the period of GBP24.9m net loss, predominantly driven by the unrealised GBP28.0m Venture Portfolio Value decline and a GBP7.3m reversal of the Carried Interest charge.

-- NAV per share was 85 pence (104 pence as at 31 December 2021).
-- Cash position of GBP22.6m which enables the Group to support its portfolio and maintain its investment rate for the foreseeable future.

[dancerbrian] 30/6/2022 14:24

A soft signal, but taking to 30 June to produce results to 31 December isn't the hallmark of a good company.

The results look good, but have been somewhat overtaken by events. For me, the question is how much progress portfolio companies can make to offset the valuation effects. I'd hope for a better H2, but if markets keep going down then who knows. 25% portfolio cash helps, if it hasn't been deployed...

[spectoacc] 30/6/2022 13:33

Interesting report today.

NAV 104p! Wow!

"Challenging macroeconomic environment anticipated to impact valuations and individual performance of portfolio companies. Accordingly, we are estimating a mid-to-high twenties percentage point decline in the Venture Portfolio Value for the first half of 2022."

Oh.

So 104p, knock that back to say 75p, but that's. only. the. first. half. of 2022.

I'd say easily the same again for 2nd half - and who knows beyond that - which conveniently takes us very near the current s/p.

I don't think FWD is particularly bad a co - if anything, it's being far more honest than many of the other incubators, and all of the PE ITs who are still calling brilliantly rising NAVs.

The tide is going out, how far and when it comes back in again is less clear.

[rambutan2] 22/6/2022 14:06

Noted:

"Whilst acknowledging there is still significant uncertainty the Board now expects to report a mid-to-high twenties percentage point decline in its Ventures portfolio valuation at the half-year, down on the previous market guidance of circa GBP117m for 31(st) December 2021."

[rambutan2] 04/8/2021 15:54

Undecided and happy to watch from the sidelines, but been reading the admissions doc:

Re Blackrock, I note only a minimal lock in:
(pg123) By way of a deed between BlackRock, Neil Hutchinson, Forward Internet Group Limited, the Company and Liberum dated 13 July 2021, each of BlackRock, Neil Hutchinson and Forward Internet Group Limited have agreed that they will not, for a period of six months from the date of Admission (the “Lock-In Period”), directly or indirectly transfer the legal and/or beneficial ownership (or any interest therein) in any of the Ordinary Shares owned by it/him immediately after following Admission or any Ordinary Shares which may accrue to it during the Lock-In Period as a result of its or their holding of such Ordinary Shares (the “Restricted Shares”) except: (i) with the prior written consent of Liberum (not to be unreasonably withheld or delayed)

and:
(pg128) The Relationship Agreement also contains certain customary information rights and additional undertakings of the Company in favour of BlackRock, including:
(a) subject to the terms of any relevant lock-in or orderly marketing arrangements, reasonable assistance to be provided by the Company to BlackRock in the event that it wishes to dispose of Ordinary Shares;

[makinbuks] 03/8/2021 07:49

Do we know Blackstock's future intent?

[andyview] 20/7/2021 13:22

I tried with II and was able to buy, although i have seen that on a different stock with them before..

gla

[spectoacc] 20/7/2021 10:39

Has rapidly followed the market. This won't be helping, when try to buy:

"This stock is currently unavailable to buy.MIFD II regulations require the issuers of investments to provide us with information about costs and charges. At present we are unable to access this data therefore we cannot make this stock available for further investment.If you already hold this investment, you can continue to hold it, and sell it at any time, but you cannot buy any more at present. We are working with issuer to ensure the information is provided and make the investment available."

[spectoacc] 19/7/2021 07:31

Fair point on BOD - about £1m between them. Large BlackRock holding going to make it illiquid, but hopefully to upside. Has started OK, albeit quiet/bound to be some staggers who exit.

[melody9999] 17/7/2021 22:38

Wow is that 70% owned by Blackrock? Makes you wonder why they have subscribed for more in the placing. Any views on the impact of them having a majority shareholding whilst the BOD have very little exposure?

[spectoacc] 16/7/2021 11:05

Starts trading on Monday.


"· On Admission, the Group's portfolio will comprise 46 equity investments in early-stage, high growth UK companies, with an investing strategy focused on businesses with operating models that leverage eCommerce, marketplace and applied artificial intelligence technology;


· The Group secured commitments in the Placing from BlackRock and Draper Esprit of £15m and £2m respectively. Furthermore, the Placing attracted strong support from high quality institutional investors, private wealth managers and retail investors;


· On Admission, BlackRock will own approximately 70.4 per cent and senior management will own approximately 0.8 per cent. of the issued share capital of the Company;"

[noirua] 11/7/2020 10:35

Recently reinvested as the company appears to be at the early stages of recovery.

[noirua] 02/1/2012 11:07

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