Prelude Trust Share Discussion Threads

[hvs] 08/2/2007 09:06

Keep trying its going to pay off big time .

[kneath] 08/2/2007 08:56

Hi guys - good stock. Trying to get in at 117p - to no avail. Will keep trying

[hvs] 08/2/2007 08:43

Stock overhang definitely cleared now.

We will see a rising share price now.

[orange1] 08/2/2007 08:00

The news has now been confirmed: Vodafone and Orange have announced their intention to share Radio Access Networks (RANs). RAN sharing will ensure that both companies remain committed to the faster roll out of high speed services.

[rivaldo] 08/2/2007 07:43

Interesting news this morning. Vodafone and Orange are both customers of M-Spatial - I'd have thought these "new 3G services" might include local searching etc?



"LONDON (AFX) - Vodafone and France Telecom's Orange are planning to merge
their UK mobile phone networks in a deal designed to cut costs and bring new 3G
services to a greater proportion of their combined 32 mln UK customers, the
Guardian reported.
The deal, which could be announced within days, is understood to be focused
on the two companies' 3G networks, but in future could extend to sharing of
their older networks where coverage in remote areas is patchy, the newspaper
added without naming sources.
The companies are expected to retain control of their backbone networks,
allowing them to continue to develop services.
Any agreement would have to be cleared by regulator Ofcom."

[rivaldo] 07/2/2007 22:08

Interesting trades this afternoon too, with a 250k buy at 117p. From m.o.n.e.y.a.m it seems the spread went to 115p-121p for a while too, which I missed. Hopefully many more rises to come as people latch on to this (finally) developing story.

[hvs] 07/2/2007 22:05

The bargain of the Year 2007, I reckon.

Get it at these prices while you can.

[fse] 07/2/2007 21:29

Thanks Rivaldo I had forgotten about the share reduction. ADVFN mkt cap almost always out of date.
So the situation is even more ridiculous than I originally said , the portfolio components average out at 1.8M per company. When you consider that PDT have a healthy slice of most of them its a bit like a fire sale really !

[hvs] 07/2/2007 20:43

rivaldo,

Your assumptions and analysis are spot on. I am thinking along exactly the same line. Although PDT is a VCT there is Zero risk and immense potential.

With recent movement in share price looks like it is being noticed and we will see
sp moving up.

[rivaldo] 07/2/2007 19:04

FSE, that m/cap is incorrect - per PDT's recent RNS there are 34.156m shares in issue, i.e a £39.8m m/cap.

I calculate PDT has £15.7m cash (£12.3m at interims, less £2.8m invested, plus £6.2m for CPS). So almost 40% of the m/cap is covered by cash! You have to wonder what they're going to do with it all (and no, I don't mean management fees for the cynics out there :o)) ).

At the least PDT should be trading nearer the 150p or so NAV imo, let alone adding on any premium at all for all the holdings which are now mostly revenue-producing and commercialised and the potentially world-beating new investments.

Interesting to see if the investment community picks up on, say, DisplayLink or Siconnect (or ZBD or M-Spatial) as a "new Alphamosaic" - though now there's so many more "new Alphamosaic" options to choose from.

[fse] 07/2/2007 18:17

>tiltonboy...... I know what you mean about Alphamosaic but heres where I am heading with this and by all means someone correct me along the way ....

Assuming ADVFN mkt cap for PDT is correctly listed at @43M then less the 15M it puts the portfolio in at 28M valuation and thats for 13 companies which pans out at just a squirt over 2M per company.
Looks like there is not a total dud in there and surely some in the 20M to 50M range...

To my way of thinking there are just so many prospects in there that the NAV looks to me to be undervalued and a price well north of 200p looks like a minimum.
There are 2 or 3 holdings in there that could be extremely valuable but lets leave that as icing !

[tiltonboy] 07/2/2007 17:59

Been trying to pick up more than 100K for most of the day. There were two other buyers in the market for similar or larger numbers. WINS thought he could find them, but failed. A late buyer of 5K shares put the price up.

The more I read about m-spatial the more excited I get, and that's only one of six or seven investments that you could make a compelling case for.

After Alphamosaic I didn't think we would see this level of potential again. The shares currently trade on a discount to NAV of 23% which rises to 35% when you strip out the cash. With the investments they have got they should trade at a premium IMO.

tiltonboy

[fse] 07/2/2007 17:58

> hvs

that sounds about right maybe slightly less as they had 9M and are to receive another 6M..... 30% cash ! thats high
how many shares in issue ?
What does that equate to as a % of current share price ?
15m / shares in issue..... hmmmm!
I already have too many or I would be buying some more ;-)

[hvs] 07/2/2007 17:22

Hi FSE,

Think about £ 15 mill including last disposal proceeds.

I think we will be fine, past investments maturing nicely for further sales.

[fse] 07/2/2007 17:12

How much cash do they have currently ?
Another disposal and they will be swimming in it, I just only hope they use this to either buy back shares, support what they already have or invest only in later stage plays.
As long as they dont suddenly buy into an early stage prospect we ought to finally do OK.

[mangal] 07/2/2007 17:05

Topped up today; share price has been rising steadily recently & all signs are there for this to power ahead: .. some fantastic u/l holdings, big discount to NAV, holdings grossly undervalued.

All we now need is some more visibility & we'll be off!!!

[hvs] 07/2/2007 16:14

Hi rivaldo,

Looks all your hard work is stirring this. Its up :-)

[rivaldo] 07/2/2007 15:58

Hope so hvs , most of the portfolio is looking incredibly impressive now. Seems like any overhang is well and truly gone too.

[hvs] 07/2/2007 11:58

You beat me to it rivaldo, yet again.

And again another 10K.

Think this will explode in the second half of the year.

[rivaldo] 07/2/2007 11:38

Good stuff hvs, tiltonboy. Always best to buy in the calm before the storm (hopefully!).

I see Bob Hook has put 85k shares into his pension from a trust:


Could be long-term tax planning to protect future profits. We shall see.

[hvs] 07/2/2007 10:20

I just added 10K @ 116p.

Thabnks again rivaldo for the above posting. m-spatial looks very very exciting.

[tiltonboy] 07/2/2007 10:07

Confirmation that the seller has completed. Just added 25K at 116p.

tiltonboy

[timtom2] 07/2/2007 09:10

thnaks tb for the look behind the curtain.

[tiltonboy] 07/2/2007 08:56

The trade was a straightforward delayed trade from yesterday afternoon. WINS must have been reading this BB, as it was they who bought the stock. Panmure's think their seller has been got at, and are not best pleased. WINS have further business at these levels, which is encouraging.

I think we might just see them edging better now.

tiltonboy

[rivaldo] 07/2/2007 08:54

Ta for that Orange1, loking interesting then.

Yet more good M-Spatial news - number 8 in the top 50 can't be bad:


"m-spatial Goes 'Top Ten' in UK's '50 to Watch in Mobile'
February 6, 2007

Business award names m-spatial as one of the UK's most exciting Mobile companies
Cambridge, UK, 06 February 2007: m-spatial, the market leader in mobile local search, has been named as one of the most exciting companies in the UK mobile sector in the second annual Real Business / O2 '50 to Watch in Mobile' awards, unveiled today. Placed at number eight, the ranking reflects m-spatial's rapid growth and customer adoption of its technology, and highlights the expanding consumer market for mobile local search services on mobile phones and personal navigation devices.

m-spatial's unique technology platform, the Local Search and Discovery Engine (LSDE), delivers a revolutionary 'made for mobile' user experience for mobile local search, offering consumers quick and simple access to both a breadth and depth of 'local' information about businesses, amenities, events and traffic conditions. Crucially, m-spatial enables users to obtain richer information than traditional directory services that offer only name, address and telephone number, by adding rich and dynamic information such as business descriptions, photographs, what's on and maps and directions – all aggregated from multiple specialist sources.

The world's biggest mobile operators and directory providers are adopting m-spatial's LSDE for its ability to build brand loyalty and encourage greater usage of mobile data by delivering the kind of compelling local information that consumers are increasingly demanding. In addition, m-spatial provides a model to monetise mobile local search, ensuring a free-to-consumer service, supported by location based, relevant advertising from local businesses.

"During 2006, we have increasingly seen users adopt mobile local search in their everyday lives. This adoption has led to a growth in demand for our platform from traditional mobile operators and directory providers, but now increasingly from a wider section of the mobile industry, including content providers and personal navigation players," said Andy Walker, CEO of m-spatial. "It is extremely encouraging that the potential of both the company and the mobile local search market has been recognised by 02 and Real business, and are delighted to be appear in the top ten."

Compiled by Real Business magazine, the leading magazine for entrepreneurs and growing businesses, and sponsored by 02, the '50 to Watch in Mobile' were selected by a panel of expert judges from the technical, marketing and commercial sides of the UK mobile industry."