Ip Share Discussion Threads

[spectoacc] 17/10/2019 20:18

Standard stuff isn't it - "Hopefully we'll soon be able to stop tapping you, and fund things from redemptions".

No, Alan and Sir Douglas, what shareholders would like is RETURNS.

Needs an activist (like Crystal Amber at ALM) to get involved IMO.

Otherwise it's just "how long can we keep this gravy train running".

[rambutan2] 17/10/2019 19:37

Here's what the CEO and the (new) Chairman said in their last para sum ups in the most recent annual report. As far as I can remember this was a first - perhaps because of the new chairman - for acknowledging that they need to be a proper self sustaining business. However "medium term" didn't instil confidence:

While IP Group is a long-term business where results can and do fluctuate from year to year, the Board is confident that the portfolio can generate significant returns for stakeholders and in the medium term will begin to position the business for transition to a more self-sustaining model. This will allow the Group to sustainably fulfil its mission of supporting outstanding science from around the world from the eureka moment through to maturity.

Alan Aubrey
Chief Executive Officer


Outlook

IP Group's portfolio is both well diversified and maturing and we remain confident that it will deliver appropriate and meaningful returns for stakeholders over the medium to long term. I would like to thank our staff, academic partners and portfolio companies for their commitment and contribution during the year as well as our shareholders for their continued support.

Sir Douglas Flint
Chairman

[rambutan2] 17/10/2019 19:11

But has never produced positive cash, just burned through it. Has relied entirely on fund raises since it started up many years ago. Most of the cos are still early stage and require plenty more funding. If Ox Nano doesn't list and bring some cash in soonish then things could get very tight. imho

[spectoacc] 17/10/2019 09:36

Cheap when it's on half NAV, certainly. :)

[brucie5] 17/10/2019 09:34

Thanks. I have to confess I have little specific knowledge of the underlying tech, as any that I did develop, being all too little still, would probably cloud my main investment interest, which is in the possible oversell of the share price Woodford clearly saw the potential, and used to be considered knowledgeable; now his reputation is in tatters, we have decided to take the opposite view of everything he touched. The truth always lies between. And what is Railway Pensions seeing down here if now extreme value? Hmm. Sitting on my hands for time being, but I would add one thing. A friend of mine from long ago who works in investments and resides in the Far East was talking through his specific interest, which is in UK technology. Not this one specifically, I hasten to add. But we are still highly regarded, and atm, thanks to Brexit, cheap as chips, apparently..

[bamboo2] 17/10/2019 09:27

Brucie, I'm watching.

I keep thinking about the managements poor record in developing the constituents.

How many real stars have they produced?

For example look today at TRX

[brucie5] 17/10/2019 09:23

Anyone else seeing value down here?

Railway Pension upped from 7-over 10% on the 9/10. I can't imagine they are huge risk takers. In the meantime, Stocko has it on a PE of 6 with EPS growth of c. 140%!!!

[guildedge] 06/10/2019 23:12

hxxps://www.cityam.com/rc-brown-buys-ip-group-shares-as-woodford-offloads-stake/

More shares sold off? Looks like he still has 5%.

[guildedge] 02/10/2019 17:57

2x late RNS.
St James Place down to 1.6%.
Railway Pension Trustee Company Limited up to 7.3%.

[guildedge] 27/9/2019 19:06

Yes I was suprised to see Invesco reduce. That really isn't a bad thing. I doubt they will sell everything. Might explain some of the other trades here.

12% bounce on one day. Woodford and Invesco having less power is very good news.

The company still has to turn around the losses and show it's investments will be the next big thing.

[p1nkfish] 27/9/2019 18:49

Invesco reducing now?

[hashertu] 27/9/2019 18:24

I note that Rene and Arix have bounced, along with IPO.
Maybe Woodford has sold most of what he needs to.

[bjfanc] 26/9/2019 19:08

He sold the lot via a book building exercise on Tuesdayhttps://citywire.co.uk/wealth-manager/news/woodford-ditches-former-favourite-ip-group-on-the-cheap/a1272407

[guildedge] 26/9/2019 19:03

RNS.

Woodford now below 5%. So 50m or so shares left. So 85m or so sold.

[bjfanc] 26/9/2019 18:51

Here's your homework. This is my reasoning for holding IP Grouphttps://20yearsofgenomics.paris/clive-brown/

[bamboo2] 26/9/2019 18:42

Thanks Guildedge. It would not surprise me to see institutions take a quick profit on a part of their holding, as you say probably not possible on millions though.

Have you taken a position yet, or do you have a price in mind?

What are the main attractions here, is it the Fusion?

[guildedge] 26/9/2019 17:47

RNS
BNY Nominees Limited now have a 5.88% stake here.

62,355,000 shares. That explains where a lot of Woodford shares have gone. Assuming it was his shares they bought. Not the last sell of 7355000 share at 57.8p was likely them buying. Numbers are far too precise.

See where the rest go next week.

[guildedge] 26/9/2019 16:54

If existing holders were dumping stock in the millions they would still have to find buyers? We also know St James Place is likely not done selling shares here either. Their last update left them with 39m shares. I think they have been responsible for a lot of the volumes in last 2-3 weeks.

My view was T Rowe Price and Fidelity could be the buyers here. T Rowe Price only has 10 million shares. Fidelity 6.5m. (According to Morningstar.) Funds like these normally take stakes of 5-10% at least.

Whatever happens close to 18.42% of this firm will be in new hands soon. Assuming St James clear out fully.

[bamboo2] 26/9/2019 16:38

Many of the delayed larger trades are going through at approx 53.6

If some of these are buys by already significant shareholders, they could be selling off existing holdings at approx 58, and taking an instant 7-8%, whilst keeping their positions relatively unchanged.

This would have the effect of inflating the volume.

[guildedge] 26/9/2019 16:36

Short update on IP group. Mangrove Group reduced by 0.33% to 0.29% short. That is a positive. Clearly they think this could rise. That is half their position. That is 3.3m shares.

[guildedge] 25/9/2019 21:24

On plus side once he has sold out it removes some pressure on the share price as his 13.4% is gone. They can then announce some new major shareholders. They might buy more stock at these prices?

Worry about Invesco when their bubble bursts. I can't see this going much below 58p I think the institutions seem quite happy to pay 58-59p or so.

Ceres power is now at 211p. So moving up a bit.

Long term I still have worries but their has to be a base value here. I don't think this will just crumble in value. Unless someone can prove they are over valuing some of their private investments? See what Thursday and Friday brings.

[bamboo2] 25/9/2019 18:06

Guildedge, Three days is a good estimate. I use a system of trendline apex based turns in an attempt to improve the timing of trades.

Three potential turns coincide on the IPO chart Friday 27 September.

[guildedge] 25/9/2019 16:48

He has 135m shares to clear here. Volume today is 51m or so. How much of that was him? Could still be late trades to appear. Assuming it's even him.

On this basis we could have 3 days of this. Quite clear someone is happy to buy at these prices. It's a 40% discount on NAV.

I do still wonder when they will start to make some money on these investments. (Cash)

Maybe 59p is a good entry point? Assuming they will one day post an actual profit from these shares.

[meijiman] 25/9/2019 12:46

Thanks bamboo..good summary. It's on the close watch list.

[value viper] 25/9/2019 12:36

ITX is one such company Woodford has been forced sold out of directly (and completely) already but it remains a constituent of IP's portfolio.Exciting prospect imv (ITX)