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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tekcapital Plc | TEK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 8.25 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.25 | 8.25 | 8.25 | 8.25 | 8.25 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
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Posted at 10/4/2024 16:47 by backmarker If I have done the maths correctly, then for every share in TEK it holds 0.2226 of a share in SALT.With SALT = 72.5p that would be equivalent to 16.14p for every TEK share.So TEK is valued at about half its interest in SALT alone.Is that a reasonable discount given that TEK cannot readily dispose of its holding in SALT. |
Posted at 16/2/2024 08:14 by cheshire Latest from the Oak Bloke- love the £1.46 target. :)TEK:Runnning my value model and plugging in the latest share prices for BELL, LUCY and SALT I see TEK's NAV remains at a 46.4% discount to market cap - even after a 130% YTD rise.How on earth you might ask? Well, the recent IPO from SALT has a lot to do with that. But the newsflow hasn't changed (much) from what I covered over the past months. SALT's chair gave a great presentation and SALT's CFO and CEO presented well with updates that several UK supermarkets are in discussions, but the fact and market potential of SALT is no different than pre-prospectus. It heartens me that TEK is making progress even when market sentiment is adverse. It proves that stock market eventually is a weighing machine, and if you have a conviction then do not panic and sell. Recurring 30 tonne orders of Microsalt from a global food business (cough Pepsi), and US supermarket stockists far larger than Sainsburys (CVS has 8,500 vs Sainsbury has 1,500) got weighed eventually.But interesting to note, too, that you can STILL buy SALT by buying TEK (who own a large chunk of SALT) at a discount. A very decent 16.66% discount.Not forgetting that it's a 16.66% discount plus you get 91% of Guident, 7% of BELL, 40% LUCY and 100% of ReVive all for free.Why free? Well 15p covers just 83% of the value of the Microsalt shares since TEK own 76% of SALT.I see no reason other than it has not been IPO'd why Guident is worth any less than SALT. I set out the known newsflow for Guident in this article. There are millions of lives lost each year to excess of salt, but one day soon billions of robots and drones needing guiden(t)ce. Even before science fiction becomes fact, Autonomous Vehicles (AVs) are already emerging rapidly for mass transit.Meanwhile for LUCY the addressable market size is $148bn and forecast to grow to $250bn by 2030. Deals with Nautica, Reebok and Eddie Bauer in 2024 make this an exciting pick despite the past poor performance while it got going. Their latest Q4 quarterly update is imminent and my last view on LUCY and my forecasts you can read in this article.Lucyd "are easily the best" is the conclusion in this video.ReVive meanwhile is a concept product which could further revolutionise transport range anxiety and particularly EVs, but PHEVs and HEVs too. Think about regenerative braking and how that has changed the world. It is now commonplace and in fact in 2024 you'd have to go really downmarket to find a car without regen braking or "start/stop" as it's commonly called. So what about generating power over the bumps in the road? ReVive claims a 5-10 mile range extension to an EV and is the sort of business which could be licenced to OEMs to draw in a revenue stream.Which leaves BELL, now funded, with an established market-leading pair of products for oxygen therapy which have been optimised to lower costs for higher margins, and an order book of 6,500 units and growing where they tick certain redemption codes which makes them attractive to equipment distributors to the point where BELL are the only game in town from some vendors.And that still leaves TEK's research business, and future forays as it perhaps looks to its 6th venture now three of its five businesses are listed.I have maintained a potential upside of £1.56 per share is possible over the next two years. TEK's share price, overall, would need to grow about 5.5 times to get there. That's because I see 5 businesses with USPs serving 5 enormous addressable markets.But another way to look at this is simply this.If BELL can return to its prior highwater price (£1.46 a share), if LUCY the same $7.50 a share, if ReVive can achieve 60% of the estimated $125m target value, if Guident were valued in an IPO and beyond in 2 years at 5X its NAV today, and if SALT tripled from here in the next 2 years to £2.85 a share, then you arrive at £1.55 per TEK share.Is it quite so impossible from that perspective? BELL has advanced far further than when it was at that previous high, and LUCY the same and is regularly being compared to - and in comparison videos beating global brands like Ray-Ban, Amazon and Bose. I guess for LUCY it depends whether you believe in the wisdom of crowds and the consumer, plus driving towards cash generation. ReVive is a unknown quantity but the increasing volumes of vehicles and tangibility of range anxiety isn't. Guident at 5X is no more fanciful than SALT at 5X (hint: SALT is half way there already). 5X could be far too low for a technology that puts humans in the loop in a rapidly arriving AI/Robotics world.How TEK could arrive at £1.56What if it doesn't? I am not saying it's guaranteed - it's an upside forecast. But at today's 15p a share, the risk/reward of TEK remains such that if even 1 out of the 5 succeed in a meaningful way the pay off could be several times today's share price. All five might succeed is my point.This is not adviceOakThanks for reading The Oak Bloke's Substack! Subscribe for free to receive new posts and support my work. |
Posted at 13/2/2024 22:28 by cheshire This is a presentation by TEK on the 7th Feb 2024, special dividends are still very much in the mix.hxxps://www.tekcapit For the avoidance of any doubt, I am a long term holder of TEK shares. |
Posted at 13/2/2024 16:37 by lord loads of lolly 2MAGPIES - I totally agree with you.Clifford's oft-stated business model was 1) nurture holdings, 2) float them 3) reward investors with a special dividend for their trust & patience, 4) rinse & repeat. Unfortunately, he subsequently appears to have forgotten all about the shareholder reward bit. Except for his ridiculous salary & bonus, which he's been quite happy to take at all costs, whilst overseeing the decimation of Tek's share price. I've said countless times - both here and on LSE - that until shareholders receive their reward, they're generally highly unlikely to invest any further. Which is probably why every one of Clifford's investor interviews is like "Tek for Dummies". He has to start from scratch each time, targeting new unsuspecting punters, 'cos the original ones no longer believe a word he says. As for scrabbling around looking for new AI opportunities, that's a MAJOR red flag for me. Bit like babies losing interest in their toys (because - to deliver - they require a bit of imagination & interaction), throwing them all out the pram, then crying their eyes out, asking for new ones. WSM812 - I think you'll find Elie has repeatedly bought Tek at prices far higher than today's. Not my definition of knowing a good thing. |
Posted at 13/2/2024 10:45 by 2magpies wantagehow does it benefit YOU, as a holder of TEK?? They have all these exiting investments (and they ARE exciting) , but any uplift just gets redeployed to another 'potential'. And that's how TEK remains: perpetually 'potential', never actual. Juts look at SALT mcap, and TEK's stake in it: is that reflected today in TEK's sp?? I rest my case. |
Posted at 08/2/2024 18:42 by 888icb Article in this week IC just released:SMALL COMPANIES MicroSalt IPO highlights the value in Tekcapital The stake in one of its portfolio companies is now worth more than its own market value Simon Thompson MicroSalt has market capitalisation of £18.5mn at listing price Tekcapital retains 77 per cent stake and convertible loan notes Tekcapital spot NAV more than double its current share price MicroSalt (SALT:51.5p), a company that produces low-sodium salt, has raised £3.1mn, at 43p, in an Aim initial public offering (IPO). It’s less than initially planned, but in a moribund market for new listings, it is one of the few IPOs to get off the ground (‘Will MicroSalt whet investors’ appetite?’, 3 October 2023). MicroSalt’s patented solution dissolves much faster on the tongue, so delivers the same sense of saltiness as traditional salt, but uses half the amount of sodium, a major contributor to hypertension and heart disease. The company has created a consumer brand of potato crisps, Salt Me!, which are now sold across 400 retail stores in the US, and has launched its MicroSalt shakers in 450 stores in the US as well as on Amazon in both the UK and US. Moreover, the company has delivered its first commercial-volume order for a Fortune 500 retailer, which will use the solution for its own branded nuts to be sold across an initial 800 stores. Multiple multi-national companies are currently testing the product and are in price negotiations ahead of placing orders. In the first half of 2023, MicroSalt reported a pre-tax loss of £1.7mn on revenue of £0.3mn, so it’s the potential to scale up sales rapidly that whets the appetite of investors. Given the obvious health benefits of the patented product, it’s not going to take that many deals with large fast-moving consumer goods (FMCG) customers to ramp up revenue and turn a business with a relatively fixed cost base profitable. MicroSalt looks to have a winning formula. The IPO is also positive for Aim investment company Tekcapital (TEK:10.25p), which holds 33.3mn shares (77.3 per cent stake) in MicroSalt worth £17.1mn, and $2.6mn (£2mn) of convertible loan notes repayable in December 2025. Tekcapital’s investment in MicroSalt is worth more than its own market capitalisation of £18.3mn. Deep share price discount to sum-of-the-parts valuation In addition, Tekcapital has listed investments in Innovative Eyewear (US:LUCY), the US operating subsidiary of Lucyd, the first company to deliver prescription glasses with Bluetooth technology, and Aim-traded respiratory medical device company Belluscura (BELL). The holdings are worth £1.7mn (1p) and £2.1mn (1.2p), respectively, and are in the price for free. The same is true of the company’s $18.3mn (8.1p) investment in Guident, a developer of remote monitoring and control centre (RMCC) software that improves the safety of autonomous vehicles and delivery robots. Guident has signed software as a service (SaaS) agreements with European partners to provide its RMCC software for fixed-route electric bus services, having delivered its first remote monitoring and control services order to Jacksonville Transportation Authority in Florida. The company has also been awarded funding from Space Florida for a ground breaking project under the Florida-Israel Innovation Partnership programme. Tekcapital's portfolio fair value estimate at 1 February 2024 Portfolio company Carrying value 30 June 2023 Estimated carrying value 1 February 2024 Value per share Guident $18.3mn $18.3mn 8.1p Innovative Eyewear $4.6mn $2.2mn 1.0p Microsalt $17.1mn $21.8mn 9.6p Belluscura $6.3mn $2.7mn 1.2p Smart Food Tek $0.0mn $0.0mn 0.0p Guident convertible loan notes $1.0mn $1.0mn 0.4p MicroSalt convertible loan notes $1.5mn $2.6mn 1.2p Portfolio fair value $48.6mn 21.6p Net current assets (adjusted for second half operating costs) $1.0mn 0.4p Intangible assets $0.3mn 0.1p Total NAV $49.9mn 22.1p Source: Tekcapital's 2023 interim accounts and London Stock Exchange RNS. The company reports in US dollars. Belluscura current valuation based on latest share price of 20p a share and holding of 10.6mn shares. Innovative Eyewear valuation based on stock price of $0.43 and holding of 5.19mn shares. MicroSalt valuation based on share price of 51.5p and holdings of 33.3mn shares. Guident valuation as reported in Tekcapital's 2023 interim accounts. Exchange rate used £1:$1.268. Bearing this in mind, Guident has engaged a leading US investment bank to raise capital for expanding its RMCC business. At the bare minimum, it should provide investors with clarity that there is significant value in Tekcapital’s investment in the company. It’s worth noting, too, that Guident is conducting testing and appraisal of its proprietary regenerative shock absorber technology after completing successful paid-for proof-of-concept trials with a major tyre company. This could be a potentially lucrative recurring revenue stream, too. So, although Tekcapital is the laggard in my 2022 Bargain Shares Portfolio, and the share price is below the 13p level in my last article, the 54 per cent share price discount to my spot NAV estimate of 22.1p is incredibly harsh. Buy. |
Posted at 02/2/2024 11:40 by 888icb Absolutely crazy situation. TEK down 7% but SALT is Up 4% following a 17% rise yesterday. Extract from Simon Thompson’s article on Microsalt:“ The IPO is also positive for Aim investment company Tekcapital (TEK:10.25p), which holds 33.3mn shares (77.3 per cent stake) in MicroSalt worth £17.1mn, and $2.6mn (£2mn) of convertible loan notes repayable in December 2025. Tekcapital’s investment in MicroSalt is worth more than its own market capitalisation of £18.3mn.” TEK’s Market cap after this mornings fall is £17.3 million! The concluding comment: “ So, although Tekcapital is the laggard in my 2022 Bargain Shares Portfolio, and the share price is below the 13p level in my last article, the 54 per cent share price discount to my spot NAV estimate of 22.1p is incredibly harsh. Buy. |
Posted at 16/1/2024 08:51 by 888icb UK Investor Magazine article:Tek capital signals MicroSalt IPO could be imminent with debt funding Tekcapital has issued a clear signal to the market that the MicroSalt IPO could be completed in short order with the announcement of debt financing to contribute to the IPO. The technology company announced late on Friday it had secured £600,000 debt financing for the purpose of completing MicroSalt’s IPO. Tekcapital holds an 87% stake in MicroSalt, a low-sodium technology company that recently launched its salt shakers on Amazon’s UK platform. MicroSalt announced late last year it was targeting an AIM listing in late January after understandably rescheduling the listing amid soggy market conditions last year. The financing round announced on Friday would suggest MicroSalt’s listing could now be imminent. Tekcapital valued MicroSalt at around £20m last year, and the floatation may make Tekcapital shares look tremendously good value, with their MicroSalt stake likely to be worth more than their entire current market cap on listing. Tekcapital has three other portfolio companies. The source of Tekcapital’s debt financing is also notable. Tekcapital has entered into a loan agreement with its portfolio company, Innovative Eyewear. Innovative Eyewear developed the world’s first ChatGPT-enabled smart eyewear and has inked licensing agreements with Reebok, Eddie Bauer and Nautica. Nautica branded eyewear will be available in early 2024. For Innovative Eyewear to provide Tekcapital with the loan infers underlying financial strength at the NASDAQ-listed company and relative confidence about their prospects in the short-term. |
Posted at 30/8/2023 08:24 by buywell3 On the 17th Aug 2023 on the BELL thread buywell wrote:17 August 2023 Portfolio Companies Update Tekcapital Plc (AIM: TEK), the UK intellectual property investment group is pleased to provide a summary of latest developments across certain of its portfolio companies. Belluscura Belluscura plc ("Belluscura" AIM: BELL), announced on 16 August 2023 it has received purchase orders for over 6,500 of its next-generation DISCOV-R portable oxygen concentrator. This represents approximately US$15 million of potential revenue to Belluscura plc, as estimated by its management team. The recent purchase orders follow the signing of several distribution agreements with medical device distributors and other home healthcare providers, including a distribution agreement with a division of McKesson, one of the largest distributors of pharmaceuticals and medical devices in North America, earlier this month and a marketing agreement with GoodRx®, a leading digital healthcare platform, in February 2023. Belluscura has received multiple additional requests from leading oxygen homecare providers in the US to distribute the DISCOV-R. Tekcapital owns 15,138,767 shares of Belluscura plc (11.16%). -------------------- buywell notes that Tekcapital still is a Major Shareholder in Belluscura , holding 15,138,767 shares of Belluscura plc (11.16%). buywell hopes that Tekcapital can keep theses shares in Belluscura as they stage a recovery in share price based upon the coming surge of sales referred to in yesterdays Belluscura RNS and enhanced Telehealth software in the form of NOMAD its patented App , providing the necessary data for monitoring and control purposes by the remotely located patient Healthcare provider The news imo underpinned what the Belluscura CFO recently said in video ie: " Belluscura should be cash positive in the first half of 2024 " The chart of TEK IMO has been driven by that of BELL ---- hence buywell hopes and believes a recovery in the Belluscura share price chart --- which we are now seeing start to happen after the cash raise at 25p , could now drag the TEK share price chart back north. Note the current divergence caused by the surge in Belluscura SP plus As Belluscura starts to win market share from other existing oxygen concentrator providers , and sales into China and APAC begin in 2024 Belluscura with their disruptive patented technology will become a thorn in bigger sides Sooner rather than later one of them will want to remove that thorn dyor |
Posted at 16/6/2023 07:29 by buywell3 RNS16th June 2023 Tekcapital Plc Portfolio Company Update Space Florida Awards Grant to Guident and NOVELSAT for Satellite-based, Remote Monitoring and Control Solution for Autonomous Vehicles Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people's lives, is pleased to announce that Guident Ltd. ("Guident") has been awarded funding from Space Florida for a groundbreaking project under the Florida-Israel Innovation Partnership program, together with its valued Israeli partner, NOVELSAT. The grant being awarded is for the purpose of developing a safer Remote Monitoring and Control Center (RMCC) for the monitoring, management, and backup control of terrestrial autonomous vehicles, with the assistance of satellite communications. This innovative approach is aimed at providing redundant, continuous monitoring of autonomous vehicles. Additionally, space communications provide a mobile network connectivity alternative in areas with low signal or no terrestrial mobile wireless network coverage. "Through this extraordinary collaborative partnership, Space Florida is at the forefront of welding cutting-edge innovation with the boundless knowledge derived from scientific exploration. It thereby forges a path that shapes the very essence of the future of autonomous mobility," stated Tony Gannon, Vice President of Research & Innovation for Space Florida. Scheduled to commence in early July 2023, the joint project brings together the collective expertise, resources, and vision of Space Florida, Guident Corp, and NOVELSAT. Each organization's unique strengths will synergistically contribute to developing pioneering safety solutions for ground-based autonomous vehicles using satellite communications. "Guident is privileged to have the invaluable support and guidance of Space Florida with their unrivaled experience and strategic location for this new initiative," stated Dr. Gabriel Castaneda, Guident's Vice President for AI and Research. "This funding will help propel us forward as we embark on the development and scale of an effective Remote Monitoring and Control Solution with enhanced vehicle safety, together with our Israeli Partner NOVELSAT." The Market According to Triton Market Research "the last mile AV autonomous vehicle delivery market is expected to reach $41.7 billion by 2028 with a CAGR of 19%. Contactless or "touch-free" delivery is in high demand since the COVID-19 pandemic, and Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for pedestrians, food and medicines to improve their availability and reduce the costs of these deliveries. About Space Florida Space Florida is an aerospace and spaceport development authority in Florida, United States. It aims to promote and support the growth of the aerospace industry in the state. Space Florida offers various advantages to leading aerospace companies. Space Florida has extensive experience and expertise in the aerospace industry, providing valuable knowledge and resources to companies. The organization offers financial tools such as grants, loans, and tax incentives to help aerospace companies with their new initiatives, encouraging economic growth and development. Florida offers a strategic and advantageous location for aerospace companies. Its proximity to the equator allows for more efficient launches, and it has a well-established aerospace infrastructure and support network. Several world-class companies have built long-term relationships with Space Florida. including Northrop Grumman, Blue Origin, and EVE Air Mobility. These partnerships demonstrate the attractiveness of Space Florida as a hub for aerospace activities and the trust that leading companies place in its capabilities. To learn more, please visit www.spaceflorida.gov About NOVELSAT NOVELSAT is a leading provider of next-generation content connectivity solutions. Powered by innovative technologies, our broadcast and broadband solutions are transforming networks' capabilities to expand growth potential and to drive new experiences on any device, anytime, anywhere. Our high-performance products for satellite and terrestrial content connectivity include integrated video solutions and highly efficient broadband connectivity solutions, and best-in-industry content security solutions. Transforming data and video delivery with new levels of performance, efficiency, agility, and security, NOVELSAT empowers mission-critical and demanding applications for the mobile, media, entertainment, government, and mobility markets. For more information visit www.novelsat.com. About Guident Guident commercializes patented technology to enable safer autonomous vehicles and devices by providing industry-leading AV remote monitoring, control, assistance, and passenger support services. To learn more, please visit www.guident.com. About Tekcapital plc Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com. LEI: 213800GOJTOV19FIFZ85 Tekcapital owns 100% of the share capital of Guident Ltd. Guident Ltd. owns approximately 91% of Guident Corp., its US subsidiary. For further information, please contact: Tekcapital Plc Via Flagstaff Clifford M. Gross, Ph.D. |
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