 Good that they're using PrimaryBID for us retail investors and giving us until Monday to decide.
I'll be taking the weekend to reflect and decide. I'm already overweight in FIPP, but I do have long-term conviction in the company. Am I being like a battered housewife, in thinking that FIPP will change, just giving a bit more time. Or will it be another kicking to the loyal dog. I can decide after knowing the uptake for the £2.7M from their institution investors though.
Reviewing their Annual Results; going to the different stages of their lifecycle (ranging from 1 - 6, 6 being open market, 1 being nothing more than an idea and a LTD company).
Stage 6 - 1 (2023 to 0 in 2024) - Exscientia sale
Stage 5 - 0 / 0
Stage 4 - 14 (2023 = 9) NAV has gone from £23.6M to £28.8M. £2.7M of which is increase in existing and £2.5M is a transfer between stages.
Stage 3 - 6 (2023 = 5) NAV from £5.8M to £3.7M. -£1.9M transfer to stage 4. -£244K in Fair Value.
Stage 2 - 2 (2023 4) £1.1M to £580K. -£613 transfer to stage 4
Stage 1 - 3 (2023 4)
So the balance of holdings is going in the right way. Looks like during the year, 2 companies went from stage 2 to 4, and one company went from stage 3 to 4.
That leaves a shortfall of 2 companies, assumping GreenEnergyTech or DeakinBIO (could be wrong) |
Great to see financial security now achieved going forward. But although at 28p there's no discount to the current price, this is only because the share price has fallen so much to a silly level.
The portfolio looks in excellent shape, with most companies apparently doing well and many now being revenue-earning and having achieved successful recent fundraisings.
It's about time the Alucid IPO was finalised - this would hopefully signal the value here to investors. |
The 65WUSB-C was only launched in August, so I guess it will be going through the validation process with potential future customers. |
The lack of discount is only to yesterdays price because those in the know have been selling down from 40/50p range. I’m baffled why Pulsiv have apparently not got any customers for the USB charger yet |
The lack of discount for the subscription highlights the confidence they have in the portfolio. Judging by the CEOs statement it looks highly likely there will be x3 significant IPOs within 5years max. I feel comfortable that my capital is safe here while we wait. We should see the share price widen the gap |
I'm happy at 28p well more accurately no more unhappy. results looked positive without being staggering with some interesting personnel changes |
Well highlighted Best. 28p subscription isn't much of a discount to the price you can get on the market today. |
Has I predicted that’s the predominant reason we’ve just been drifting ever lower because of those in the know 28p |
This is what frustrates me with Fipp. On their website portfolio, they tell us Amprologix hoping to commence Phase 1 trials in early 2021.
Surely they have someone on the payroll capable of providing updates on the companies. It would be so much more helpful for shareholders instead of them having to search companies house and Linked-In to find any progress.
That said, we must have friends at Innovate, as their name keeps cropping up with these grants. I also see that Amprologix were at Investival this last week so hopefully attracted the interest of investors. |
I'll go back to just doing research on FIPP as opposed to speculating on this FY Report then;
Couple of bits I found researching, which I don't think has been mentioned;
hxxps://www.amprologix.com/amprologix-secures-1m-innovate-uk-biomedical-catalyst-award-funding/
Amprologix (which I thought was long dead) has secured a £1M grant back in April and has a recent new website to showcase. Assume it might be looking to fund raise in near feature if its now highlighting news articles more regularly.
hxxps://gtr.ukri.org/projects?ref=10086928
Nandi Proteins secures a £300k grant for their egg-white replacement. |
Importantly if a pension company did purchase Frontier, following the pension reforms, it would not only be purchasing the current promising and discounted to nav portfolio. But it would be also be purchasing the valuable links to U.K. universities for future investments in university spin offs. Frontiers management team who seek and advise start ups are incredibly relevant to what pension companies will need to do when reforms are enacted. Frontier is unique in its approach to gaining extremely early stage access to investments.
It’s highly likely in my view Frontier will be the subject of a takeover in the coming years from a pension company, which has the patience for the long term growth and motivation from pension reforms. It wouldn’t surprise me if this were the reason for the unusual delay in results. |
It does make me feel somewhat at ease knowing the ceo has a large exposure here as the 3rd largest shareholder and will be acting for the long term benefit of shareholders and not next years bonus. We’ve seen institutional buys and personally I don’t think the market has paid full attention to the upcoming pension reforms which will favour investments in small U.K. start ups. There will be a wall of cash looking to invest in frontier’s portfolio when the reforms take place (or in advance of the reforms). Both the conservatives and Labour are in agreement, so it’s a near certainty. |
They'll announce when they're ready I guess. Stockopedia and the likes of Morningstar dates are only indicative.Personally not concerned, more frustrated at the constant share price drip away.Could probably do with a small raise, but then one would of thought the recent Institutional buys would have been made later. Additionally, an exit (despite difficult backdrop) could come at anytime and provide some welcome uplift.Meanwhile back to twiddling the thumbs! |
Thanks for clarfying Best - happens to the best of us.... :)
So still up in the air - but probably ok to assume we can ignore what dates are being presented on Stockopedia. |
My mistake a lot of companies do RNS results date but he did state they do not |
Wednesday, November 20th 2024
Full Year 2024 Frontier IP Group PLC Earnings Release
According to Stockopedia. Been wrong on doing before.... |
They haven't previously RNS a date for the full year results before I don't think.
No idea what is going on..I'm hopeful still. Could be an issue with the auditors and signing off on the NAV..... |
I guess that means they expect something significant will be changing in the coming weeks. Good or bad who knows?! |
I’ve had a reply from the company regarding results .When a date for the results is set it will be RNSd so no time soon |
Well so many positives apart from the one that matters.I am of the opinion they are leaving the results until a funding of sorts is finalised be that a placing price agreed |
It was according to stockopedia.
Messaged director of comms but they've blanked me :(
More details on CamGraphic from Companies House today. Don't know what any of it means but general assumption is around FIPPs rights around debt to equity. Assume they're crossing Ts and dotting Is before releasing update.
Circa 3 weeks late compared to last year |
Earnings release was due this morning? |
Surely some sales volume news from Pulsiv must be due |
Another AIM company I hold had some results which were later than expected last month (trinity exploration) - this was because it had received a takeover offer. Hope it’s the same here! With the recent pension reform announcements it could be attracting new attention… Although an offer of double the current share price wouldn’t get my vote, as the current share price is complete nonsense. |
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