Prelude Trust Share Discussion Threads

[tiltonboy] 05/10/2007 14:42

Alan Duncan returned the call, and gave some background information, but did say that there would be fuller disclosure in the interim figures which they are trying to get out quickly.

Not really too much to add.

tiltonboy

[orange1] 05/10/2007 09:23

Oxford Immo and Sciona also appear to have been valued down by approx 1 mio each. Displaylink on the other hand has been valued upwards by 1.5 mio.
Look forward to hearing the exact figures from Hookie.

[tiltonboy] 05/10/2007 09:17

Orange,

£3.2m has come off the valuation in the last quarter. Unless there have been provisions made on other investments, I would suspect that the £2.8m valuation on Si-connect has taken the major hit.

I am awaiting a call from Bob Hook to ask the question.

tiltonboy

[orange1] 05/10/2007 09:06

It is valued at less than Xanadu which itself is valued at approx 1.9 mio.
So the valuation of SiConnect is anywhere between 0 and 1.9 mio, it seems.

[tiltonboy] 05/10/2007 08:54

Orange,

It looks as if it has been written down to next to nothing.

[jtjh] 05/10/2007 08:36

Well that's one way of narrowing the discount to NAV!! The longer we go without exits the more likely some portfolio companies will fail. The companies require plenty of cash to keep them ahead of the competition and providing that sort of money is not the primary purpose for PDT.

[orange1] 05/10/2007 08:19

Not bitten the dust as such (the company is still alive) but the value has now been written down to such an extent as to take it out of the top 10 investments.

[tiltonboy] 05/10/2007 07:11

Looks like Si-connect has bitten the dust!!!

[hvs] 03/10/2007 21:47

Think the share price may be about to move NORTH.

Todays buys are signalling good news ahead.

[timtom2] 03/10/2007 21:05

The useful thing with Greenpeak type products and target market is longevity.

The likes of Honeywell, if they adopt a solution, will look to use it and re-use and keep it - possibly ordering on and off for 5 years plus as they roll-out their own installations. A customer and market like that can form a reliable revenue stream with others added on top - so building the business. It doesn't turn-off overnight once you have the customers signed-up.

The major downside with consumer products (Alphamosaic type target markets) is that you can ship volume but it can come and be gone in a year. A much less reliable way to build a business for the long term.

Businesses servicing industrial and medical markets should attract a premium in my book especially as consumers might retranche for a an extended period as money tightens.

CSR calling?? Would be a nice buy-out for them even if they could do it themselves - quicker to market if they buy out the likes of Greenpeak.

Notice the name "Lime" on the website too. Is that just the shade of green or a hint at a tie-up with Lime Wireless?

[rivaldo] 03/10/2007 15:34

Nice 50k buy earler.

Agreed TT2. M-Spatial is valued in toto at £9.3m - peanuts for one of the leading players in its sector. Admittedly it hasn't made any big announcements for a while yet. Perhaps once we get to conference season again...

Another new article on GreenPeak with some bullishness - Honeywell isn't a bad partner to have:



"GreenPeak Technologies Announces Revolutionary Battery-Free Wireless Communication Technology for Sense and Control Applications
02.10.2007 21:01:28

GreenPeak Technologies today announced a revolutionary new product portfolio for ultra-low-power wireless sense and control networks. The new company offers open standard, easy-to-install wireless communications devices for sensor applications that can operate without power cabling or a battery.

GreenPeak's new wireless communication devices leverage three key technologies that enable it to operate in a battery-free environment without cabling. The first is an ultra-low-power wireless transceiver and sensor interface design with efficient power-up and power-down modes that dramatically reduce power consumption. Second is an energy harvesting interface that enables the modules to utilize power provided by e.g. external solar, electromagnetic, and piezo-electric transducers. Third is a mesh technology that enables designers to create extended sensor networks without the need for battery-powered or cabled routing nodes. This innovative mesh technology is also self-forming and self-healing, making it easy and inexpensive to install.

"The strength of a truly wireless sensor network can only be fully utilized when the wiring for both the data communications and power cables can be eliminated," said Cees Links, CEO of GreenPeak Technologies. "GreenPeak is a company with a true battery-free vision that offers wireless communication solutions eliminating the need for both communication wiring and power cabling."

GreenPeak is initially offering its low-power communication technology as the 'Lime CM-08' module, a tiny 5 cm2 (less than one square inch) electronic component that OEM customers can integrate into their products. The tiny module functions as a stand-alone communication system, integrating a transmitter/receiver, antenna, and low-power mesh network software on a single device. The module also features a transmit power amplifier that delivers four times the transmission range of non-amplified products with less than 1% impact on energy consumption. The module's software can be configured to manage the power of different types of energy harvesting devices. OEMs can also add their own applications to the module, thereby eliminating the need for an external processor and lowering total system cost.

GreenPeak is also working on a chip solution that integrates all the functions of the current module, providing a full tool chain for OEM integration.

Many vendors provide energy harvesting solutions based on kinetic, electromechanical, or solar energy. But GreenPeak's wireless sensor modules and networks leverage these energy harvesting solutions for real world applications better than anyone else. GreenPeak devices can accommodate a variety of energy harvesting devices over a broad range, from the dripping energy of solar cells, to the energy bursts from piezo-electric torsion or electromagnetic fields. GreenPeak has developed on-board power management circuits that will monitor the state of the energy harvesters and take appropriate actions to optimize the available energy. This allows the GreenPeak devices to operate in a battery-free environment in a reliable way.

To facilitate the configuration of extended low-power sensor networks, GreenPeak has created a low-power, self-forming and self-healing mesh technology, which enables wireless devices to build a reliable and efficient communication chain. Each device in the GreenPeak network, utilizing GreenPeak's integrated mesh software, can act as a repeater for other wireless devices, thereby enabling the network to span larger distances. Unlike competitive mesh solutions, which require battery power or cabling for the main routing nodes, GreenPeak networks utilize smart power-up/power-down and synchronization techniques that enable all mesh nodes to operate in a low-power mode without a battery or power cabling.

GreenPeak is fully committed to development based on open industry standards. The GreenPeak technology is based on the IEEE 802.15.4 wireless network standard and supports the open global standards of the ZigBee Alliance.

GreenPeak's patented wireless sensor technology is being tested in a wide range of applications, including healthcare, safety/security and industrial automation. Honeywell, for example, is integrating GreenPeak's technology in their gas detection systems to provide a reliable, ultra-low-power solution for applications such as underground parking lots. Kronos, a global provider of human capital management solutions, is utilizing GreenPeak technology in mobile applications they are offering to their partners.

Pricing

The GreenPeak modules will be offered via a worldwide network of local distributors.

The suggested retail price for the GreenPeak Lime module (CM-08) is $ 21 (volume 100K).

The suggested retail price for the Starter Kit is $ 1,390 and $ 6,950 for the Development Suite"

[timtom2] 02/10/2007 21:21

Think m-spatial could be one of the first exits as the wh0le space is consolidating. M-spatial would make a cheap bolt-on. Nokia into the mapping side now also.

[rivaldo] 02/10/2007 20:58

Xanadu Wireless is now called GreenPeak (ugh!):



"Startup eyes battery-free wireless sensor nets
John Walko
EE Times
(10/01/2007 9:00 AM EDT)

London -- No wires and no batteries; now there's a combination. It's the promise of a company coming to this week's ISA Expo in Houston with a battery-free solution for ultralow-power wireless sensor and control networks based on the IEEE 802.15.4 standard.

The target, according to GreenPeak Technologies (Utrecht, Netherlands), is to leverage three key technologies and develop chips and modules for sensor applications that would operate without power cabling or batteries. The requisite technologies are an ultralow-power wireless transceiver and sensor interface design with efficient power-up and power-down modes that dramatically reduce power consumption; an energy-harvesting interface that lets the modules use power provided by external solar, electromagnetic and piezoelectric transducers; and a mesh technology that lets designers create extended sensor networks without the need for battery-powered or cabled routing nodes.

The company said its mesh technology is self-healing and self-forming, making the approach easy and inexpensive to install. And each device in the GreenPeak network can act as a repeater for other wireless devices, letting the network span larger distances.

Unlike competitive mesh solutions, which require battery power or cabling for the main routing nodes, GreenPeak networks tap smart power-up/power-down and synchronization techniques that enable all mesh nodes to operate in low-power mode.

Its name may be new, but GreenPeak's roots go back a couple of years to the formation of Xanadu Wireless, a venture-capital-backed fabless chip group formed to develop IP, chips and modules for the wireless-sensor market. Xanadu's relaunch as GreenPeak followed its July purchase of Ubiware (Zele, Belgium), a startup focusing on related ZigBee-type devices for monitoring and control sensor networks, for an undisclosed sum.

GreenPeak's co-founder and CEO, Cees Links, helped pioneer wireless-LAN technology while at such companies as NCR, AT&T, Lucent and Agere, and is a founding member of the IEEE 802.11 Working Group and the Wi-Fi Alliance. "ZigBee-type sensor networks are clearly the 'third wave' of wireless, but we have a fundamental problem: The elimination of wires really needs to go hand-in-hand with taking the maintenance issue associated with batteries out of the equation," said Links. "Otherwise, people will just not buy into this. Half a solution is no solution."

Links said GreenPeak is sampling its low-power communications technology as a Lime module--a tiny, 5-cm¾ electronic component that OEM customers can integrate into their products. The standalone comms system integrates a transmitter/receiver, antenna and low-power mesh network software. It also features a transmit power amplifier that, according to Links, delivers four times the transmission range of nonamplified products without adversely affecting power requirements.

The module's software can be configured to manage the power of various energy-harvesting devices, though Links said the company does not do energy harvesting as such. He added that the package meets the requirements of ZigBee-Pro 2007, the latest version of the standard, which he expects the ZigBee Alliance to send out for balloting soon.

OEMs will also be able to add their own applications to the module, eliminating the need for an external processor and thereby lowering total system cost.

A starter kit and development suite are available that include graphical network visualization and control panel source code. GreenPeak is already working on an integrated device that would incorporate all functions of the current module, and it is developing a full tool chain to support OEM integration.

Links acknowledged that various other companies are offering some of the four elements (the three noted above, plus standards compliance) needed for developing wireless sensor networks, but said none has the full slate of capabilities. "And some of these companies are [just] talking about it or thinking about it," he said.

He said he doesn't think GreenPeak will compete with established players in the ZigBee or 802.15.4 space, such as Texas Instruments, Freescale Semiconductor or Ember Corp. "We are coming at this from a different perspective--focusing on end nodes--and not as a means to sell unit volumes of microcontrollers or processors," Links said.

Nevertheless, GreenPeak's target markets are the same as for other members of the ZigBee Alliance: home auto- mation, building automation, asset management, health care, and safety and security."

[rivaldo] 01/10/2007 20:41

Well, 300p would do me...

Siconnect news:


"October 01, 2007 09:00 AM Eastern Daylight Time

SiConnect Agrees Joint Development Partnership with ST&T Corporation for Next Generation Powerline Audio

SWINDON, England--(BUSINESS WIRE)--SiConnect, the leader in multimedia-ready home networking technology, has signed a memorandum of understanding with ST&T Corporation of Taiwan to develop next generation powerline communication based audio equipment for the home.

Already a world leader in the design and manufacture of mass market powerline products, ST&T is to use SiConnect's single-chip PLi050A audio powerline transceiver in the joint development project. The chip uses SiConnect's patented POEM® technology which brings significant benefits to audio product designs. These include low cost, high fidelity throughput, native uncompressed audio streaming, coexistence with other powerline applications, Whole Home Coverage™, mesh networking and global EMC compliance.

SiConnect CEO, Chris Wade, commented, "We are delighted to be working with ST&T. The company's knowledge of the powerline market is second-to-none and we look forward to helping them address new opportunities for interconnecting consumer electronics in the home. We are both committed to the rapid deployment of powerline applications in the home and our jointly developed audio powerline products will set new price-performance benchmarks for the sector."

Tony Li, General Manager of ST&T Corporation, said, "The advantages of SiConnect's POEM technology were clearly recognised during the technology evaluation phase and we look forward to getting the joint development project underway. ST&T products have a worldwide reputation for quality, reliability and performance, and it is vital that R&D advances such as this are quickly realised in our products.""

[hvs] 30/9/2007 12:39

Its frustrating but once invested have to be patient.

[jtjh] 30/9/2007 12:25

It's coming up to 2 years since Alan Duncan said there will be more exits in the near future. Since his pronouncement we have seen the solitary exit!!!
The more cynical amongst you may say that by suggesting imminent disposals made for a firm price when the tender offer was announced 2 months later, and the even more cynical might say that management were fortunate to get a good price when they tendered the odd million shares! Of course, I couldn't comment!
What I can say is that with the new enlarged management team looking to rebase their options packet the propects for near term exits don't look too promising. I sincerely hope I am incorrect in this assumption.

[timtom2] 27/9/2007 21:30

I thought it should be 300p+.

From another board: "Reforms in the 2006 Companies Act come into force on 1st October. These include a duty on directors to "promote the success of the company". Exceptionally shareholders can bring a claim for a breach of duty. So perhaps a loaded question at the AGM would be in order."

Does that include reducing ridiculous discounts to NAV?

[fse] 27/9/2007 21:26

>Tim Tom .... its true we dont know for certain what the value is for PDT but its more than possible that their share of one of the 14 or so Portfolio companies is worth more than PDT entire NAV less the cash they already have.
Its a beyond absurd situation.
But if you want a wild guess and its a guess OK
@500p would be starting point !
Again thats assuming that they get these companies away for anything close to their value.... and allowing for a fair few dogs which are not now apparent.
If they trashed the portfolio out I am guessing still well north of 300p.
The current NAV because of the way its calculated does not give any clues as to what the value is.

[rivaldo] 27/9/2007 14:15

TT2, I only know that imho the value of PDT's investments is or will be a lot more than the current share price!

Phyworks news - not particularly significant, but the last sentence is nice:



"Phyworks' recent introduction of an FTTx product line has set new performance and cost standards for GEPON and GPON applications throughout the world."

[timtom2] 27/9/2007 08:55

We would be below mid-market so perhaps even less affected, in case of portfolio company buy-outs, by the recent credit problems.



Any guesstimate as to the average buy-out value of the protfolio companies - $30M average, or more(?), of which PDT would get its %

[hvs] 22/9/2007 12:05

rivaldo,

Hi,

Thank you for the updates.

You not with MI5 by any chance ? A sleuth ?

[rivaldo] 19/9/2007 07:48

:o))

Now we have DisplayLink and Intel.....



"DISPLAYLINK, INTEL DEMONSTRATE MULTI-DISPLAY
PC ENTERTAINMENT TECHNOLOGY AT IDF 2007

Demos Show 3D and HD Video on USB and Wireless USB Displays; Performance Comes From DisplayLink Software Integration with Intel Graphics and Processor Platforms

SAN FRANCISCO – Sept. 18, 2007 – DisplayLink Inc. and Intel will demonstrate a new version of DisplayLink's network display software at the Intel Developers Forum (booth #342) that supports intensive 3D applications and high-definition (HD) video on USB 2.0 and wireless USB connected network displays, universal docking stations, and USB-to-VGA adapters. The new software delivers this performance through enhancements that tightly integrate it with Intel's Integrated Graphics Architecture chipsets and Core 2® Duo & Quad processor platforms.

Support for 3D and HD video creates an unprecedented multi-monitor entertainment experience on consumer PCs. It also boosts productivity for workers who use these 3D or HD video by giving them more room to work with these high-end applications. DisplayLink's network display technology provides a great reason for employees, Web designers and entertainment consumers to upgrade to Core 2 Duo or Quad processor-based PCs, because it allows for a quick expansion of the visual workspace across multiple displays.

"Digital movies, photos, user-generated video and online games are pervasive and are now competing with traditional television and video fare for consumers' time and attention," said Hamid Farzaneh, DisplayLink president and CEO. "There is no better way to enjoy this content than by pairing multiple core processors with multiple monitors for a complete visual experience."

The DisplayLink technology today provides instantaneous mouse and keyboard response, high-quality video feedback and high-resolution graphics on all PCs. Through tighter software integration, DisplayLink customers benefit from improved 3D and video playback and a refined user experience."

[spin doctor] 18/9/2007 14:56

Breakout! ;.)

[rivaldo] 17/9/2007 21:40

And good news from Polatis and DisplayLink:



"September 17, 2007 09:00 AM Eastern Daylight Time
Kensington® Expands Notebook Dock Family Featuring DisplayLink ``Plug and Display'' Multi-Monitor Technology

Kensington sd200v Notebook Docking Station with Video Allows Notebook Users to Recreate Desktop Experience at Home; DualView Feature Makes It Easy to Double Screen Space for More Productivity

PALO ALTO, Calif.--(BUSINESS WIRE)--DisplayLink today announced that Kensington Computer Products Group has chosen its network display technology for the Kensington sd200v Notebook Docking Station with Video, an innovative expansion of its Windows Vista-ready USB notebook dock product family.

The Kensington sd200v Notebook Docking Station with Video allows a user to connect speakers, a VGA display and up to five USB peripherals to a notebook PC with a single USB 2.0 connection. The dock enables multi-monitor computing, where a user can use both their laptop display and another desktop display which expands the room they have for their work – making more applications and information available at a glance, and allowing for simple information mining from multiple sources. The dock gives a notebook computer user a "desktop" computing environment with the ability to easily add a keyboard, mouse, high quality sound and other favorite USB devices.

The docking station's DualView feature provides a button on the front of the dock that instantly toggles the computer's display mode between "clone," where the two displays mirror each other, and "extend," which provides two independent displays for twice the screen space.

"Many professionals today often work as much or more at home as they do in their office, and the Kensington sd200v dock makes it easy to set up a comfortable and powerful command center for maximum productivity," said Frederic Frappereau, Global Product Marketing Manager at Kensington. "Building DisplayLink technology into the sd200v allows us to offer crystal clear graphics and high performance computing in an affordable multi-monitor environment."

The Kensington sd200v Notebook Docking Station with Video is based on the DisplayLink DL-120 chip and supports high-resolution graphics, DVD-quality video playback and instantaneous mouse and keyboard response. It is compatible with Windows XP and Vista PCs and VGA-connected displays with resolutions up to 1280 x 1024 or 1440 x 900. Complete details on the product are available at Kensington's web site, www.kensington.com.

"Kensington pioneered the market for high-performance USB universal notebook docks a year ago, and this line expansion shows that the market for these products is evolving and expanding," said Dennis Crespo, executive vice president of marketing and business development for DisplayLink. "It's going to be an exciting time in the market as thousands of Kensington customers realize increased productivity and entertainment benefits of plug-and-display computing."

Availability and Pricing

The Kensington sd200v Notebook Docking Station with Video is available for pre-order at Amazon.com and Kensington.com and will be available late September in other major electronics retailers. Suggested retail price of the sd200v is US $139.99. It will be available in Europe in October through major web etailers and IT retailers at a suggested street price of £89 and €129."



"Polatis Launches Compact Latching Switch Technology At ECOC 2007

CLS technology delivers unique offering to growing FTTx market

Billerica, MA., Cambridge, UK, Berlin, Germany – September 17, 2007 – Polatis Inc., a leading supplier of high performance optical switch technologies for the telecoms industry, today announced the launch of its Compact Latching Switch (CLS) technology at ECOC 2007, taking place from September 17th – 19th at the Internationales Congress Centrum, Berlin.

The CLS is the world's first high density, hitless, latching optical switch. It provides network operators with a highly reliable means for tapping and monitoring large fibre networks, without introducing any significant optical impairment. Once configured, the CLS is capable of maintaining connected fibre paths in the presence of vibration and other environmental disturbances without any electrical power or management communications.

"Optical-layer switching will continue to play a wider role in future telecom networks," said Dr. Aaron Bent, VP Sales and Marketing at Polatis. "The CLS is a key component in a network strategy for reducing operational costs, dramatically improving Mean-Time-to-Repair and overall quality of service delivery. This product allows for fibres to be remotely monitored, switched and restored with minimal power, and with zero service disruption in the event of power failures."

The CLS provides hitless access into as many as 80 traffic fibres, enabling up to 8 simultaneous monitoring ports, for up or down-stream inspection. Operators can access the fibre network with analyzers, tapping a portion of the power, or fully switching a given link. This increases carrier network availability by automating critical monitoring and switching functions in undersea, wireless, FTTx, Metro and Long-Haul networks. The CLS can also be used to restore a fibre path in the event of a failure.

At ECOC 2007, Polatis will demonstrate its 80x80x4 configuration, a switch ideal for advanced network monitoring, network fault location, deep packet inspection, or any application where a large number of fibers must be accessed in a remote and automated fashion. This configuration will permit up to 4 access points into an 80 traffic fiber network.

Polatis will also be demonstrating its Wavelength Selective Switch (WSS), an ultra low-loss switching technology, aimed at reducing network cost and enabling new architectures in next generation DWDM networks."