Ip Share Discussion Threads

[p1nkfish] 05/8/2020 16:44

Is probably dead. Live ones are in the bushes.

[dexdringle] 05/8/2020 13:58

….but, then again, a bird in the hand....

[noiseboy] 05/8/2020 13:56

If a quid is worth 70p then buy some more!

[p1nkfish] 05/8/2020 13:34

You dont sound suited to this investment.
Simple as that.

Find investments that meet your wants, investments wont change to suit you. Same as it ever was.

If a shirt wont fit dont wear it.

[pierre oreilly] 05/8/2020 12:36

Probably 50p dex - the value of nano has gone up massively - probably 2 or 2.5 times judging by quoted pharmas' reaction on similar news - since the assets were valued as detailed in today's rns.

pink, I'll sell when I'm ready to sell, but thanks for the advice.

Could you address dex's question and detail what, if anything, you disagree with anything I've posted today.

Making the point that ipo directors are almost negligent in their duty to shareholders in my view, could be viewed that i think such an undervaluation could easily be exploited by better management who could buy a quid's worth of assets for 50p plus a small uplift. And I think that could happen. There certainly wouldn't be much shareholder opposition to that, whatever bravado you currently try to display.

[dexdringle] 05/8/2020 12:22

...you don't agree with him then ?

Which bit(s) exactly do you not agree with ?

We have a board who are presiding over a situation where investors £1's are worth only 70p each and you think that's okay ?

[p1nkfish] 05/8/2020 12:17

Sell then and move on.

[dexdringle] 05/8/2020 11:56

"Pierre Oreilly 5 Aug '20 - 10:46 - 450 of 454

Lots of stuff about the interests of shareholders being ignored and the business being run for the benefit of the directors / employees"
---------------------

Top post. Absolutely 100% spot on. I can't believe that anyone on here could realistically argue with a single point you have made (but I'm sure they will !)

[dennisbergkamp] 05/8/2020 11:24

Thanks Pink. I guess the recent increase in director holdings might help Merc, as it'll now be in their interests to increase the share price

I'll keep an eye on IPO based on the above

D

[pierre oreilly] 05/8/2020 11:10

One of ipo's companies is Orph. Orph have 2 or 3 interests surplus to requirements. They are going to package them, and dispose of them, probably being floated on the nas - they are pharmas with drugs ready for Phase 3, covid/flu related, expected to go for between £100m and 300m.

Orph have said they'll return the total proceeds to shareholders as either cash, or as paper in the new nas company (immediately realisable of course, so almost cash). 100% returned to shareholders in proportion of their orph shareholding.

Now i have a proposal for ipo. When nano is floated, why not follow a progressive management strategy and reward your shareholders by returning the total cash raised in the nano float to ipo shareholders, the very same as orph is doing? That is how to redress the undervaluation of ipo and its massive discount to nav while, at the very same time, rewarding your shareholders.

[p1nkfish] 05/8/2020 11:00

dennis, Merc is certainly undervalued but I have more confidence in IP management and they are more deep domain and wider by geography.

I hold more IP for that reason and deep domain investments tend to take longer but can return better imho and they have good tentacles across more sources of new investments.

Merc is and has been promising but always disappointed so far and I do think its down to lack of confidence in Merc management.

Merc even less public shareholder orientated than IP.

[pierre oreilly] 05/8/2020 10:46

Rejoice - the directors have had a very brief thought of the interests of the company owners. They say they are 'mindful' of the discount of the mc to assets! Whoopie! That's it, nothing more, they are just 'mindful'.

Well how's about some action to realise some value for the owners? Simple things like paying a spceial divi, where £1 in the company is worth £1 to the owners, instead of it being worth 50p within the company? (I'm adding some nano assets onto their valuation). Come to think of it, is a quid in the company worth anything to shareholders? We certainly don't ever get our hands on it - perhaps a quid in the co. is worth nothing to shareholders? Hundreds of millions in cash in the company coffers, and the owners of that cash get not a sausage.

While i like a company to be beneficial to mankind in general, I don't like that to be their sole aim and f the owners, as they seem to act. It is a stated aim of theirs.

My view is this is run for the benefit of the directors who control those hundreds of millions, and no one else, especially the owners. It's great nano's stake going up £300m or whatever recently, but that is good for the company, the directors and really, it's fa benefit to shareholders.

They could have easily started a dividend policy. That would both return a little cash to the owners as well as rerating the company to near asset value. The directors want it all to themselves. Look at the cross directorships, cross shareholdings. Any company ipo funds should have no ipo directors as shareholders in that company to avoid conflict of interests.

[empoggio] 05/8/2020 10:40

Someone could ask at the IR meet about the BoD's thoughts on dividend policy

[dennisbergkamp] 05/8/2020 10:07

Pink,

How do you feel about this in comparison to your thoughts on Merc?

Seems a similar setup

D

[p1nkfish] 05/8/2020 09:56

If you can't see the point then don't invest.

[dexdringle] 05/8/2020 09:06

The Hard NAV has fallen by 2p a share in the year since June 2019 yet there have been no payments to shareholders.

What is the point of this company?

It's like watching your money go sloooooowly down the drain.....

[bamboo2] 05/8/2020 08:28

Record cash realisations, strong financial position, positive developments in portfolio

Portfolio highlights

-- Net portfolio gains of GBP34.9m or approximately +3% (HY19: reduction of GBP36.7m; FY19: reduction of GBP43.9m)

-- Cash realisations of GBP113.7m (HY19: GBP7.1m; FY19; GBP79.5m), exceeding investment by GBP76.9m

-- IP Group investment into portfolio: GBP36.9m (HY19: 39.0m; FY19: GBP64.7m)
-- Total funds raised by portfolio companies in excess of GBP350m (HY19: GBP239m; FY19: GBP430m) including Featurespace (GBP30m) and Inivata ($25m), GBP200m of which was raised post-UK lockdown.

-- Fair value of portfolio: GBP1,025.0m (HY19: GBP1,127.0m; FY19: GBP1,045.6m)
-- Ceres Power valuation exceeded GBP1bn making it the second 'unicorn' to emerge from our portfolio; the resultant liquidity in the stock afforded the Group the opportunity to realise the majority of its investment at 7x cost

-- Strong commercial progress at Oxford Nanopore, including development of LamPORE assay for the detection of SARS-CoV-2, and a total of GBP77.7m additional capital raised

-- Inivata announced a strategic collaboration and $25m investment, plus an option to buy the company, from NeoGenomics

-- Wave Optics exceeded its order forecasts in the first half of the year and now counts eight of the world's top ten tech and social media companies as customers

-- A number of our portfolio companies, most notably Oxford Nanopore, are involved in the response to COVID-19

Financial and operational highlights

-- Hard NAV(1) GBP1,156.4m or 108.8 pence per share (HY19: GBP1,171.8m or 110.6p; FY19: GBP1,141.5m or 107.8 pence per share)

-- Net assets GBP1,156.8m (HY19: GBP1,172.4m; FY19: GBP1,141.9m)
-- Strong liquidity with gross cash and deposits at 30 June 2020 of GBP245.3m (HY19: GBP161.1m; FY19: GBP194.9m) and net cash (gross cash and deposits less EIB debt) of GBP170.5m

-- (HY19: GBP71.0m; (FY19: GBP112.4m)
-- Positive Return on Hard NAV(2) of GBP14.2m (HY19: negative GBP46.9m; FY19: negative GBP73.7m)

-- Profit of GBP11.7m (HY19: loss of GBP49.5m; FY19: loss of GBP78.9m)
Post period-end update

-- Total further cash realisations from the portfolio of GBP54.4m in July, total gross cash and deposits at 31 July 2020 of more than GBP275m

-- Oxford Nanopore announces partnership with UK Government to roll out LamPORE, a new generation of COVID-19 test

-- Appointment of Prof. Gordon Clark as Chair of Ethics Committee
Commenting on the Group's half-yearly results, Alan Aubrey, Chief Executive Officer of IP Group, said:

"IP Group has made excellent progress in the first half of the year and beyond, achieving record realisations to the end of July of more than GBP168m, more than double the GBP79.5m achieved for the whole of 2019. The Group saw a positive return of approximately 3% on its portfolio in the first half, despite the significant headwinds and challenges faced globally. We will we continue this focus on NAV growth in the second half of the year and beyond.

We have adapted the Group's day-to-day operations to ensure that our people have been able to continue to work effectively despite the COVID-19 pandemic and management has focussed on three core areas - the health and wellbeing of our people, supporting our portfolio of companies and maintaining business-as-usual virtually. I have great pride in the role that many of our portfolio companies are continuing to play in society's response to COVID-19, further underlining the relevance and importance of the Group's purpose.

The cash realisations from the portfolio, the positive portfolio return and continued prudent cost control have placed the Group in an even stronger, more liquid financial position than at the beginning of 2020. We remain confident in the prospects for our portfolio that, as well as financial returns, is delivering meaningful impact and significant benefits to society at large. "

[bamboo2] 04/8/2020 18:19

Price action and high level of volume bode well for the morrow.

[bamboo2] 03/8/2020 22:50

Oxford Nanopore.

2020 has been a year of intense innovation, and we are delighted to be partnering with teams at the UK's Department of Health and Social Care to roll out LamPORE, a new generation of COVID-19 test. Video.

[bamboo2] 03/8/2020 22:44

Professor Andrew Beggs works at a lab that's been piloting the new 90-minute coronavirus test.
He explained on BBCBreakfast how it works

[r9505571] 03/8/2020 21:40

Ip group of course!

[brucie5] 03/8/2020 12:47

Via IPO.
hxxps://www.ipgroupplc.com/our-portfolio/portfolio/bramble-energy-ltd