Oakglen Wealth have been buying - they now own 5.97% with just over 3.35m shares:
Their last disclosure in June showed 2.63m shares, so they've bought around 700,000 more. |
Listened to an interview with the Chancellor on LBC in my car yesterday… she was saying that start ups that needed ‘patient capital’ are to be encouraged with upcoming pension reforms… I see Frontier as potentially a rare beneficiary of the upcoming budget. The same point has been highlighted by the previous Tory Chancellor at the last mansion house speech and reconfirmed by the current labour chancellor, they agree that UK start ups which need ‘patient capital’ must be given more incentives - such companies are currently often forced to move to the US due to lack of interest in the U.K. Should U.K. pension funds get such incentives in the coming budget, Frontier and its portfolio will be of great interest to a huge new pool of investment capital. |
Always a risk for AIM companies. They are in the closed period and normally report full year results end October or early November so next week or week after? There is lots of AIM nervousness ahead of the budget so little support for the share price and also people waiting for the finals. There has actually been a lot of RNS news over the summer and the portfolio is active based on their own PR but the sector is out of favor. |
Yet another 1 year breakout down -
Free fall continues - As no comment from Company could this reflect the true position? |
The bounce off 30p support broken we are in open territory from a chart perspective . it’s worrying times Nothi |
Also could be a lot of organisations are reducing their holdings in antcipation of the great tax swindle!
Lets see how it goes post budget - who knows Reeves mightb throw us a bone and allow certain offsets, especially for those companies who we focus on |
The market is getting nervous with the lack of progress being reported. Everyone knows a large chunk of start ups fail. Could the radio silence be a sign of impending doom. Or just not much new happening in the past 6months? Personally I think there’s been a healthy flow of good news. Although news of big sales/contracts and impending IPOs would undoubtedly settle the nerves. |
I doubt they would fail, Jimmy. There is a strong institutional support behind them. They did not wait those long years to jump ship when success is on the horizon.Look at Octopus' increased holding or Odd Asset'stakebuilding recently.Otherwise nice finding. If ey manage to raise those funds, Fipp might will end up with a decent stake in a company with 21 million cash in hand. |
All valid points and I'm aware of the risks. If FIPP fails, I will lose alot of my pension but haven't betted the farm on it.
Camgraphic, see note 11 in their latest annual report on companies house... |
TW ?? Shades of Woodford and Long Term Patient Capital ?? And many others. Maybe this time Rodney? |
The issue that FIPP has it that people look at the short term too often and get caught up daily movements.
The companies FIPP take time to nurture and invest in are high risk, and the vast majority of FIPP's companies will fail. Unfortunately, that's the nature of the beast we're in.
However, overtime, I still believe in the long-term value on offer here and the development of the portfolio is progressing, without unfortunately the price reflecting this.
The news that is going to come out of CamGraphIC over the coming period I think will be exciting..... |
Falling price on rising volumes..never good news. |
Certainly the shares are not behaving well ahead of the final results at the end of the month ..company currently in close period. |
Could the chickens be coming home to roost? .
1 "Despite their promise, as many as 90% of startups fail.
2 Statistics show that as many as 3,200 startups went
under in 2023 alone. These companies were private and backed by venture capital.
3 TechCrunch. "Remembering the startups we lost in 2023."
Failure isn't limited to the initial stages, as many businesses shutter within the first five to ten years. |
There’s much talk about encouraging pension companies to invest in Uk early stage companies. See article attached
In summary it says U.K. start ups are increasingly looking to the US for investors and that the U.K. government are looking at ways to encourage U.K. pension companies to invest in early stage U.K. companies |
Well from memory the last raise was at 60 p and in the months proceeding it dropped quite quickly from 80 ish so who knows.
We need an ipo windfall from Allusid potentially this year or 1Q 25 |
I was meaning as a model that looks to increase net asset value per share issuing shares at a 65% discount and the dilutive effect on that asset value in doing so does not make an effective way of funding...obviously quite the reverse.Pointing out that if the model cannot be self funding and sustainable it doesn't work and the company should look to extract maximum value by going into a controlled wind down.Maybe they pull a rabbit from the hat but if they do have to raise funds at this kind of discount they will also need to stop new investment and inform shareholders how they will be monetising the holdings.The funny thing is if the company uses £1 to buy their own shares it's worth £1.90...If they invest it in the portfolio its worth 45p (on current discount) |
Well not sure about can not raise equity at these levels .That could be the main reason we are at these levels fund raise imminent would explain the continued valuation decline |
New to this counter having read the Oak blokes piece , i have a few other private equity plays at big discounts ...i don't think the valuations are rational but there are precious few institutions any more investing in small special situations so anomalies are happening and persisting. I added a few today at 29.2p ..so i think most of those small prints are buys..i am guessing that there is a larger seller in the background that a MM is working ..so maybe a larger print to the seller later.With so little support i guess most of these plays have to consider going into run down and monetise holdings when they can to give finance to fund other holdings in the portfolio as they can't raise equity at these kind of discounts . if in full wind down they can look to use excess cash to buy shares back at significant discounts which in itself would be value accretive.I'm afraid these kind of models aren't really working but at current valuations look very tempting to have a spread. |
Looks like selling pressure continuing - All trades below mid point unless some buys - Views? |
Given the markets insatiable appetite for all things AI, I’d say ipo’s in Frontier’s “AI cluster” should be pushed through asap…
The fact Frontier even has an “AI cluster” of investments should really be attracting more interest… |
but any old salt will tell you ' past performance is no guarantee'. |
If new investors are buying into companies such as fieldwork / pulsiv at such valuations they shouldn’t be too off. We should also remember in the past Frontier undervalued its stake in Exscientia. |
AQC888 - But how accurate are the calculations of the nav? As start ups very difficult to accurately forecast probable sales, margins, costs and glitches - If wrong potential for being very over optimistic or vici versa |
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