Primorus Investments Share Discussion Threads

[mallorca 9] 27/9/2022 12:03

The investments into RMM really do call in to question the level of competence here .... even I walked away from RMM after seeing the debt and the operational loss.

[iceagefarmer] 24/9/2022 09:29

rambler..wonder if prim will average down at 7p?

[knightrider69] 24/9/2022 03:34

Rambla 450k1.7m at 27pNow worth 7pClean power 450k1m at 45Trades same priceLandor 230k1m at 23pWorth 18p

[golden prospect] 22/9/2022 23:59

Folk that have valued the weshop equivalent investment (see boanerges) at zero pounds may find a recovery of value in 2023.

[rental] 21/9/2022 13:52

can anyone update me,
what did we hold in initial investment value in
Rambler
Landore
Clean Power

ta

[golden prospect] 18/9/2022 06:48

On balance the key investments offer substantial upside. Take for instance the Fresho holding. At xrate 0.53 this was 1.6 million pounds. Moving to xrate 0.58 adds 150,000 pounds to the valuation.

[iceagefarmer] 17/9/2022 17:07

and what about truspine? disaster too

[knightrider69] 16/9/2022 18:58

Fact remains. We still 40% down. Mustang & rambler - awful decisions don't bode well full stop. Yes Let's do this buy back - 4.2p please! ...... but there's no cash!!This all smells. I bet these experts say take it private soon. Good nite nurse & Touch ya toes. Happens all the time

[golden prospect] 16/9/2022 18:41

Rupert, thank you for you kind invitation to make contact.

For now, i shall refrain as i don't want to be accused of having the ear (although i'd probably be more interested in the sailing !)

[betterupthandown1] 16/9/2022 08:57

We tend to be conservative on our valuation of NAV. Investments in the accounts are either valued at the purchase cost or some other legacy investments have been written down to what we consider a more realistic value. We believe this is prudent for obvious reasons. Tim is correct in what he says but everyone is able to have a look at the website which we do endeavour to keep up to date. GP I also agree with you assumption about the valuation and that is why I retain my full holding.
GP( or anyone else) feel free to contact myself if you require further information which you might feel is valuable to your own calculations.

Best
Rupert

[golden prospect] 15/9/2022 22:25

Timbo, the PRIM website would hugely benefit from summary total holdings and the price of last funding round (even if not involved). Perhaps on this basis one could reference and extrapolate accordingly the valuations without expecting NAV publications.

For example, from a recent announcement one gleans
"
Fresho has completed a capital raise of $12m at $0.90 per share which is approximately a 55% increase on the previous price of $0.575 per share. This values Primorus' holding in Fresho at approximately £1.6m based on an exchange rate of $0.53 AUD."

but this, together with other good news stories are lost without coherent reporting.

Just the Fresho valuation is near half the market valuation of PRIM; what a nonsense given other constituents!

[timbo] 15/9/2022 20:56

Hi GP, I think that a monthly/quarterly NAV would not be particularly helpful. PRIM keep the website up to date so the listed holdings can be calculated and the unlisted ones don't move (except currency revaluations for the AUD). For instance the website indicated that some RMM shares had been sold since the 1,699,910 shares announced on 17/03/2022 (reduced to 1,500,000 by 17/08/2022).

[golden prospect] 15/9/2022 19:59

Thank you Rupert for your most considered post #2667 and also for confirming your instrumental influence on the final tranche selling of GGP.

Going forward, it would be useful if PRIM considered publishing a monthly NAV so that investors have a measured reference, especially given the huge value disconnect of total assets vs MCAP.

I also understand that share buybacks are a consideration and again this may be a useful tool to counter the insecure hands that have distorted the current s/p.

[megaman2] 15/9/2022 15:04

Vay u bet tok Mr rupert

[megaman2] 15/9/2022 11:21

Good luck all

[chutes01] 15/9/2022 10:41

Nice
betterupthandown1, better up than down

[megaman2] 15/9/2022 09:23

My calling for it to be wound up is just a frustration at the share price and not a sensible solution at the moment . the new Lind terms at bmn would have been a disaster had prim accepted a vwap at 10p so looks like a good result/decision as things stand hopefully the loan can be repaid next year.

That was a very good post on here thank you for taking the time to do that for shareholders and it's openess.

[betterupthandown1] 15/9/2022 08:30

well I have been reading some of your comments with interest.
Clearly with the macro economic situation and an acute cost of living crises then people are finding times hard. With the disappearance of free money, a consequence of this will be investors having to liquidate positions. This clearly is happening in the small cap sector and Primorus is not immune to this either. What this is doing is creating a large disconnect between mcap's and NAV of companies. It is up to individuals to decide which companies are better placed to deal with this downturn. I am a firm believer in the ability of investors to buy and sell and markets will find an equilibrium. If you have cash at the moment then I believe history will be kind to investors as long as they pick the right stocks. We have spent 2 years restructuring this company into what I believes now is one of the leanest investment companies on AIM. Our cash burn is relatively low, we haven't felt the need to raise any cash and in fact we are one of the few companies still investing- as in the Interpac deal announced this week. Not all investments will be a success in the short term but we possibly have a slightly longer time horizon than some investors. Its as much about getting your timing of selling as buying. yes it was us who sold GGP in the 20's and yes it was the old board who bought GGP.
Nobody get every trade correct on timings but over a period and with a correct balance of investments then dividends will pay - and yes we are one of the few AIM investment companies which is the board chooses and we feel it is the correct decision for PRIM shareholders we can pay dividends/share buybacks.
I notice talk about BBM - well we managed to independently negotiate a good deal to change our investment in MUST to a CLN in BBN. This has given us the ability to convert some at a profit and run the rest at a 10% interest rate. Its about managing those investments which don't always work with those that are. We strongly believe in the likes of FRESHO/PAYAPPS which are extremely well run companies and we believe excellent value. The likes of CPH2 we believe are the future of the transitioning period and we have the firm belief that they will be very successful.
As always I don't want to comment individually about your posts as everyone is entitled to their view, but clearly there are some very misinformed posters.
the line of communication is always open and please call or email -contact on our website. Im generally quite friendly and welcome a discussion around our investments good or bad. Its your company also so if you have a querry get in contact rather than incorrectly speculating. I wish you all well in these difficult times. I hope I have allayed some of your fears.
Best Rupert

[golden prospect] 15/9/2022 07:00

Nothing stale about the news stories on the key investments



Online ordering platform Fresho raises $14 million as it looks to re-enter the US after COVID-enforced retreat

[megaman2] 15/9/2022 06:42

Unless there is an iPo from the likes of fresho and a considerable increase in value the few smaller liquid assets will be sold to pay costs until there is none left ...

[b00mb0y] 14/9/2022 20:19

I’m waiting to hear what Rupert has to say. Especially after he’s read this blog page.

[knightrider69] 14/9/2022 17:59

Investment in Mustang/BMN and RMM both appear to be poor decisions, everything else seems a bit stale. No updates on ALTE since incorporation, the 3 SPAC companies which were registered (what for) etc etcIts a shame as I had high hopes for the new board but Prim seems to be lacking a direction and any urgency at the moment.