Renaissance Us Growth Invst Share Discussion Threads

[praipus] 14/11/2014 15:59

Voluntary liquidation circular...oh for more capital

[centipede] 07/7/2014 07:43

On the 26th June, I got notification from my broker, that in the coming months, the company may enter voluntary liquidation – unlikely to be later than March 2015.
The reason being the process of realisation, and 'in order to preserve the company's investment trust status'.
Does this seem to imply that there is a sale of AnchorFree coming up, which is now their largest single asset?

[jaws6] 30/5/2014 14:33

again price 268 some one paying 273 ?

[jaws6] 27/5/2014 09:59

some one paid 3 p above price ?

[jaws6] 12/5/2014 12:43

RUG small tick up today ?

[jaws6] 27/3/2014 09:59

mangal
Agree ,let's hope we can buy back before they go further up.

[mangal] 26/3/2014 20:02

me too if the discount widens further but I don't expect it will as it's in wind-up mode.

[jaws6] 26/3/2014 14:55

mangal
will try to buy back in dip if any.

[praipus] 25/3/2014 12:00

Mr N J Greenwood (value investor) buying more now holding 4.5%


I attempt to track the resy of his holding on the WAM thread

[mangal] 24/3/2014 10:03

Lucky you; got only 40% apprx.

[jaws6] 24/3/2014 08:44

Got 88% fill in tender

[hoveite] 20/3/2014 12:05

Think that trade will be the tender offer buyback.

[jaws6] 20/3/2014 11:54

Big trade of 4.3 million at 297.0036

[jaws6] 25/2/2014 12:17

Let's hope Anchorfree comes good then.
rns out on NAV

[centipede] 24/2/2014 12:28

Looks as though this is gradually rising to become closer to a probable tender offer. This has more information:
hxxp://www.renaissanceusgrowth.co.uk/~/media/Files/R/Renn-Universal-Growth-Investment-Trust-AIM/investors/reports/162804-Project-RUG-Circular-CL.pdf

The tender seems likely to be around 300p per share tendered. With about £13 million to be returned, this equates to about 74.5 p per share currently held.

Presumably the best/most liquid stuff gets sold first, so there might be limited upside in what is left, apart from AnchorFree. This will be 41% of future net assets, and based on a recent valuation, it is being held 'towards the lower end of the valuation range given by the valuer'.

Seems to me that AnchorFree is the key element here. Difficult to know just how much it is really worth, and what are the chances of that value being realised. Company still seems to be growing though, and Goldman Sachs have a holding.

Sharpshare (Nov 13, post 21) estimated AnchorFree could then be worth about 200p+ per RUG share.

[jaws6] 27/11/2013 17:24

More info on holdings , RNS after close is out and still 20% plus discount to NAV .

[mangal] 19/11/2013 14:41

Good to see that MWGT have taken a stake

[sharpshare] 15/11/2013 12:06

"Every month, there are more than 1.5 million total downloads worldwide of Hotspot Shield on Apple iOS and Android mobile devices...Especially popular for Apple iOS devices, Hotspot Shield is among the top Utilities apps in the Apple App Store, and is the top security app on the iPhone and iPad."

[sharpshare] 15/11/2013 10:42

RUG NAV around 321p.
Of which cash is around 64p and growing.
Anchorfree is around 100p at historic value.

Share price is 248p so discount is 23%.
Stripping out the cash the discount is around 29%.

Expect first cash payout in Q1 2014 of at least 64p.

If Anchorfree is worth more than the last funding round say double then the NAV might be 421p. If triple then 521p. 175million downloads and rising is serious stuff.

Looks like a low downside investment (get money back even if underlying drops 29%) with some potential multibagging gains?

[sharpshare] 15/11/2013 10:30

Interesting that Ruffer has 12.4%

[jaws6] 15/11/2013 10:26

sharpshare
This mad ipo market in US going crazy.
Good link for info .Thanks

[sharpshare] 15/11/2013 10:20

Some nice interviews with Gorodyansky:


August 2013


July 2013


June 2013


David Gorodyansky on twitter


Note how he is commenting recently on other tech IPO's. Just shows he is thinking about it.

[jaws6] 15/11/2013 08:52

early up move today

[skyship] 14/11/2013 15:13

Saw Gorodyansky interviewed by Bloomberg on some link or other recently. Deeply unimpressive and shifty looking - certainly wouldn't buy a used car from him.

Still, this is tech - so who knows. Nevertheless, decided to sell and take the small profit afforded by this rise.