Ip Share Discussion Threads

[p1nkfish] 13/1/2022 09:04

nice one jaf.

[jaf111] 13/1/2022 08:57

Price all over the place first thing but delighted to get a reasonable number of shares at or below 112p.....fingers crossed!

[bamboo2] 13/1/2022 08:32

edward, Hard Nav is a valuation at a fixed point in time. We attempt to adjust this on an ongoing basis in the header as Rolling Nav. Let us know if you see any info that changes the figure.

If you read the last accounts it shows they are pretty conservative in their approach, except for listed co's where the market price is used, therefore a movement in the NDX of 10% would not be enough to change the figure for now, as it is just a best guess.

IPGroup remains profitable and in good shape.

[edwardt] 13/1/2022 08:18

ont news out today is pretty cool and exciting though!

[edwardt] 13/1/2022 08:18

goes back to how they define hard nav and if they discount ont from bid price. also with the tech sell off being pretty punchy - nasdaq down 10% - i would have thought hard nav is somewhere in the 140s now?

[bamboo2] 13/1/2022 08:04

Hard Nav therefore 165-11.6[ONT share price change] = 153.4
Cash is £276m

Excludes any uplift from DNL, Crescendo and Carisma
[And any other post period end events]

[bamboo2] 13/1/2022 07:50

I added 20k yesterday, on the potential turn, so very happy, as I am hopeful that we should see some positive price action today.

You need to read the ONT news.

[bamboo2] 13/1/2022 07:47

-- FY21 profit anticipated to be above GBP425m (FY20: profit GBP185.4m)
-- FY21 Hard NAV per share* anticipated to be above 165p (FY20: 125.3p), a return of at least 31%

-- Net cash and deposits of GBP276m at 31 Dec 2021 (FY20: GBP203m)
-- P ortfolio companies well-funded having raised over GBP2bn in 2021 (FY20: GBP1.1bn)
IP Group plc (LSE: IPO) ("IP Group", "the Company" or "the Group"), the developer of intellectual property-based businesses, issues an unaudited pre-close update ahead of its results for the 12 months to 31 December 2021.

In financial terms, 2021 was another highly successful year with a large number of significant transactions including the flotation of Oxford Nanopore Technologies plc on the London Stock Exchange and the sales of Inivata Ltd and WaveOptics Ltd.

Consequently, the Directors currently expect the Group's profit for 2021 to be above GBP425m (FY20: profit GBP185.4m). Hard NAV per share is anticipated to be above 165 pence, a return of at least 31%.

The Group is in a strong financial position with net cash and deposits of GBP276m at year-end. The Group's portfolio is well funded with portfolio companies having raised over GBP2bn in 2021 (FY20: GBP1.1bn). This, combined with the exciting prospects and investment opportunities within the portfolio, gives us confidence for 2022.

IP Group expects to announce its 2021 results in mid-March.

Notes

*'Hard NAV per share' reflects net assets/total equity less goodwill and intangibles divided by outstanding shares.

The share price of Oxford Nanopore Technologies plc was 697 pence at 31 December 2021.

This update is based on unaudited information and is subject to change following the completion of the Group's usual full year-end reporting process and annual audit.

[bamboo2] 13/1/2022 07:47

Buyback Programme

Date of purchase: 12-Jan-22
Number of ordinary shares purchased: 400,000
Highest price paid per ordinary share (GBp): 112.20
Lowest price paid per ordinary share (GBp): 109.60
Volume weighted average price paid per ordinary
share (GBp): 110.6003

The Group will hold the Repurchased Shares in treasury. Following the above transaction, the Group holds 24,689,127 of its ordinary shares in treasury...

[p1nkfish] 13/1/2022 07:38

Current valuatiuon is out of whack given some of the portfolio companies will help set the scene in future medicine and net zero. Some will fly and not much in the price for that potential.

[palisz] 13/1/2022 07:05

There we go... nice announcement 165p year end NAV..so about 153p now or very decent 28% discount. Should get a nice bounce.

[p1nkfish] 12/1/2022 23:21

Sentiment might change if IPO made a point of publishing approx target dates for each loss making portfolio company becoming cashflow positive. Approx dates. Not easy to do with early stage but a time sequenced league table would increase transparency.

As money flow reduces the first to get hit are the stocks thought of as blue-sky and speculative. Address that.

[bamboo2] 12/1/2022 21:13

DNL breaking out, at last, on the back of recent update.
IPGroup hold 29.7% of DNL
It is 8/20 top holdings with a value of approx £32m [at 70p/share]

[palisz] 12/1/2022 09:06

Last two years the shares had a weak Jan probably based on uncertainty over the NAV at year end. Once the figs are out and we get an update will be much easier to assess.
My worst case year end NAV is 155, take off 12p for latest ONT price gives 143p or 22% discount. Unlikely they fall out of bed from here unless ONT or market cracks. I'm a buyer on further dips, if no other changes. NOT ADVICE. If your worried sell a few, reduce risk. Everyone has different risk tolerances. You can always buy back later if you feel more confident. Don't have sleepless nights over it.

[bamboo2] 12/1/2022 09:03

P1nk, FWIW My chart suggesting today has a possible turn. Inbound downtrend means a low or valley.
Time to add?

[p1nkfish] 12/1/2022 08:30

Where is the bottom and will there be a final washout if buyback halts for a while and tax loss selling hits?

[bamboo2] 12/1/2022 08:20

Easiest thing to do is email the co. They will reply, often the same day.

When there were accusations of management moving to expensive new offices on this bb, rather than believe the opinions, I asked IR at the co. for the reason.

I'm sure they won't mind me sharing. Over the last few years most staff have been home working, so they have down sized.

[bamboo2] 12/1/2022 08:12

Buyback Programme

Date of purchase: 11-Jan-22
Number of ordinary shares purchased: 425,000
Highest price paid per ordinary share (GBp): 113.20
Lowest price paid per ordinary share (GBp): 110.00
Volume weighted average price paid per ordinary
share (GBp): 111.0635

The Group will hold the Repurchased Shares in treasury. Following the above transaction, the Group holds 24,289,127 of its ordinary shares in treasury...

[palisz] 12/1/2022 08:02

Year end tax selling ends with .... the year end! It comes again with financial year end in lead up to April 6th.

[palisz] 12/1/2022 07:59

Silence is not deafening, they are working on year end accounts, we'll get an announcement soon to confirm when they will be, with maybe an update on trading. This is normal. The rules post company year end and before release of results are strictly adhered too. Called 'Closed period' Nothing material will be announced.

[palisz] 12/1/2022 07:54

That's the question...
In the US the answer is NO, but in the UK / EU the rules are different.
Either way, without board approval the buy back ends when the £35m is spent..we can't be far off..

[p1nkfish] 12/1/2022 07:49

Someone wants out, why? I have a concern that UK end of tax year loss selling might also kick in, if it isn't showing up already. Silence is deafening.

[p1nkfish] 12/1/2022 07:46

Shouldn't buybacks be possible if handled via an independent 3rd paty?

[palisz] 12/1/2022 07:02

FWIW as usual the rules are rediculous and are still under the EU regulations afaikt

For the purposes of article 6(1)(b) of the Buy back and Stabilisation Regulation, a close period in the United Kingdom is the period during which purchases or early redemptions by a company of its own securities may not be made under the Part 6 Rules.

The closed period has various rules but in summary..

The close period is typically regarded as the one-month period preceding the release of a company's quarterly results, and the two-month period before the release of its annual results.

Last year was 10th March... so not only are we possibly running into closed period, the buy back is 80% or more done. The rules do have exceptions but I'm still trying to work through them... This might well be a good question for the company, they should be able to answer it even in closed period...

I know in the US companies don't conduct buybacks in closed period...in the UK the company may be able to request exemption.. I honestly dk, and can't find the rule..

But I'm sure well find out soon...

[bamboo2] 11/1/2022 17:04

palisz, thanks. afaik, the buyback is being conducted by a third party [Numis], so an extension can be agreed at virtually anytime for up to 10% of the co. This is assuming they have the cash, that they are buying below NAV, and that the price paid is less than 5% above the prior five days average.

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ONT present to the JPM Healthcare conference this evening. 8.00pm gmt.