Primorus Investments Share Discussion Threads

[skyship] 05/6/2019 17:45

Spangles - personally I don't view £120k (2017) & £200k (2018) salaries as particularly excessive; especially in view of their new equity subscriptions at way above current levels...

Their share options added to those figures of course, but now not that many still to be exercised.

[chrisdgb] 05/6/2019 16:18

Dipped my toe here today, looks relatively low risk upside play on several fronts........

[cwa1] 03/6/2019 13:20

Afternoon All

Just had a mad, highly speculative, punt on a few million at .1 after seeing Sky mention it a short time ago :-) Not often I can say I've bought a few million shares in a company these days, let's see how it pans out!

[daytrader14] 31/5/2019 08:54

Definitely should consolidate

[spangle93] 23/5/2019 13:52

@skyship - saw your post on the PE thread, so I had a look at the company

Wow, micro is an understatement... At £3MM m.cap, it's a nano company. Loss of £4k over the year.

Is there any essential difference between the holdings of this company and those of a HNWI individual posting on ADVFN? Apart from the large management fees of course. It feels like an outlet for a lifestyle company for a couple of guys... more than £500k in salaries and share awards

[skyship] 19/5/2019 17:16

When the share price breaks its downtrend there are all sorts of upside targets - that earlier chart suggests 0.15p & 0.18p. The chart below would be a dream scenario of a 2/3rds retracement back to the 0.20p/0.21p level, ie a level akin to the current NAV:


free stock charts from uk.advfn.com

[dvsfm] 17/5/2019 16:10

2 x 5 million , director buying ?

[skyship] 16/5/2019 15:12

Just need a few more like me to stumble across this one; take out the cheap stock and back up to 0.15p in next to no time!


free stock charts from uk.advfn.com

[daicaprice] 16/5/2019 13:52

Good set of results out.

DC

[skyship] 16/5/2019 13:37

darryn - exactly the point I was making:

"The share price is an absurdity as it undoubtedly places PRIM into the “loony box” for the many who will pass by without a second glance. Accordingly I have to ask why you have not yet taken the obvious course to consolidate. Certainly by 1:100, perhaps even 1:1000. An share price at the 11p or 110p level would be taken as a far more serious proposition than one at 0.11p. I am fairly certain that there are no serious corporate penalties/costs which might preclude such a simple process."

Your suggested 1:20 is too cautious as it would still mean an share price of still only 2.2p. If it is to be done, then it must be done properly.

[darryn1] 16/5/2019 11:11

Why don't they do a 10 or 20 to 1 consolidation on the shares. A penny share price puts off a lot of investors as just being a dodgy small cap company.

[skyship] 16/5/2019 10:26

Have posted this observation elsewhere:
======================================

Ploughing my never-ending furrow in search of VALUE. I recently stumbled across Primorus Investments (PRIM). Upon seeing the share price of 0.10p-0.11p I would normally swiftly pass on – the share price is a nonsense and a very clear case for consolidation, a matter upon which I have contacted the CEO.

Anyway, on this occasion I decided to read on and was quite pleased to have done so. I have an oft-stated fondness of Private Equity; and in this regard PRIM does partially tick a box. PRIM is an investment company taking stakes in pre-IPO private companies.

I read further as it swiftly became apparent that the CEO Alastair Clayton has an interesting CV and clearly has both stock-picking talents and reasonably deep-pocketed investor friends. He also has skin in the game.

Since taking control in Nov’15 of what was then known as Stellar Resources, a resources investment shell valued at c£1.25m; Clayton and his Chairman partner Jeremy Taylor-Firth (ex Singer & Friedlander) have issued a total of 1.534bn new shares raising £3.25m at an average price of 0.212p.

Both legacy and new assets have risen in value, but the shares have drifted down to exactly 50% of that average subscription price. One marked success is the sale of the private oil drilling operator Horse Hill Developments Limited which held a 65% interest in two onshore UK petroleum exploration licences near Gatwick Airport. This they sold to the listed UKOG in a cash & shares deal, subsequently selling on their UKOG stock to bank an overall £1m profit.

Elsewhere, each statutory report and each Update has revealed very thorough information on their portfolio of investments, primarily across tech and resource.

Their website too provides all necessary research material:



Two other recent RNSs revealed new private investors taking a view:
# 4th Apr’19: Stephen Labrum* bought 112.5m (4%)
# 8th Apr’19: Steve Ball bought 94m (3.4%)
*Stephen Labrum looks to be the Financial Services Transfer Pricing partner @ KPMG – whatever that means!?

In the most recent Qtly update on 8th Feb’19, the CEO stated:

“I should mention that over the Quarter I have had a lot of interaction with both existing and potential Primorus shareholders. Throughout these discussions, which were predominantly positive, two themes seemed to recur that I would like to briefly address.

The first one is regarding the possibility of, at the appropriate time, using excess funds to potentially buy back some of our outstanding issued capital. Given our share price relative to the Board's view of value this argument clearly has merit. We are having a look at the ability and mechanisms to determine if this is feasible. If the results of this are positive it will certainly be one tool available to the Company to invest in itself should the value proposition of its portfolio be as compelling as we believe it is today.

Secondly a number of shareholders expressed the desire to see a corporate marketing presence on social media and other such platforms. Whilst I acknowledge this may be useful, we also see significant challenges in ensuring a presence on social media doesn't infringe upon our AIM and directors' duties, not to mention MiFID and MAR requirements. Thus, we will continue to scope a presence that is both appropriate and responsible and report back to shareholders with our solution.”

To my mind the best way to improve the share price is to be patient - be successful and the discount will close. Also a good idea to promise distribution of a %age of sale profits, or an annual dividend of, say, 3% of annual NAV. I will be communicating these increasingly common Private Equity strategies to Clayton.

I won’t go into any further detail at this stage, suffice to say that at 0.105p versus an NAV of 0.215p and with no debt, the share price is clearly value should the future newsflow reflect the Board’s optimism.

An interesting microcap, worthy of investigation due to the 50% NAV discount.

[dvsfm] 15/5/2019 18:24

Well last year it was 18th may and the year before that the 10th May so any time soon it would seem

[darryn1] 15/5/2019 15:52

This has been on my radar for a few months now. JohnCasey, do you know when their 2018 results are due, I assume they are imminent.

[daicaprice] 10/5/2019 08:12

Nice update, will it bring a few buys in though?

DC

[johncasey] 30/4/2019 00:02

if only


hxxps://www.syndicateroom.com/investing/ipo/rumours/hellofresh-october-ipo

While the IPO would value the company somewhere between €1.5bn and €2bn, and HelloFresh itself has now made a statement confirming the intention to float. Chief Executive Dominik Richter has stated that "we have seen tremendous success and market share gains in the US in the last few quarters. We now intend to use the proceeds from the IPO to continue expanding our market share and become the clear No. 1 player on the US market in 2018."

Image of Document

[johncasey] 29/4/2019 23:57

corrientes..i know your deramping game mate so jog on!

talk on lse today that it was near impossible to buy shares in prim...something big brewing i reckon

[corrientes] 29/4/2019 12:38

Pardon me for feeling totally underwhelmed if the share price (which looks at future) is anything to go by.A damp squib rather than a rocket seems an apt description.

[corrientes] 29/4/2019 12:38

Pardon me for feeling totally underwhelmed if the share price (which looks at future) is anything to go by.A damp squib rather than a rocket seems an apt description.

[johncasey] 29/4/2019 10:55

wrong laddie!

Despite having received a bid for our existing shareholding (which demonstrates that there are other ways of realising value from our investments other than just an IPO)

[corrientes] 29/4/2019 10:54

which of course will be zilch !

[corrientes] 29/4/2019 10:52

Absolutely Meaningless unless related to effect on PRIM share price.

[johncasey] 23/4/2019 00:03

Primorus Investments plc
("Primorus" or the "Company")
Further Investment in Fresho

Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to advise its shareholders that it has made a further small investment in Fresho Pty Ltd ("Fresho"), maintaining its circa 3.4% ownership level as part of an AUD$1.5m capital raise fully funded by existing shareholders of Fresho.

The capital raise has been completed at AUD$0.475 per share, representing a 76% premium to the price of our initial purchase of 1,111,111 shares (as announced on 22 September 2016) and a 25% premium to a subsequent investment in a further 197,368 shares (as announced on 8 November 2017).

The capital raise was only available to existing qualifying shareholders and only required an investment by Primorus of circa AUD$51,000 for an additional 107,244 shares in order to maintain the ownership level at circa 3.4%, taking the total number of shares owned in Fresho to 1,415,723.

The proceeds of this capital raise are to be used to accelerate the international growth aspirations of Fresho. Recent investigations into Asian and North American markets were very positive and Fresho has decided to use these funds to scale-up in order to meet the potential demand by localising the platform for these markets and growing the client on-boarding team. Importantly Fresho maintained a healthy cash balance of circa AUD$1.8m prior to this capital raise.

Alastair Clayton, Executive Director, commented - "We are really pleased that the management of Fresho have decided to tool-up to take on the enormous potential that has shown itself to exist in the Asian and North American markets. We believe that it was both prudent and attractive for existing shareholders to be able to participate at this value point in advance of what will be a push into product development and support systems for this global expansion."

"Despite having received a bid for our existing shareholding (which demonstrates that there are other ways of realising value from our investments other than just an IPO), we have decided to invest further in Fresho as we believe it is worth more than AUD$0.475 per share."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Primorus Investments plc:
[phone]
Alastair Clayton