Transglobe Energy Share Discussion Threads

[mark10101] 11/2/2024 10:38

This is the key bit

“TGL will be paying £200K. for a £250K. stake, so the anticipated value of CQCL after that must be at least £8.33M.”

So we would have had 3% stake in CQCL back then. That would be worth £150m now if we had no dilution. So assuming a 75% dilution over that time and our diminished holding size. Hopefully it is worth £10m still!

[mark10101] 11/2/2024 10:34

Hedgehog 10018 May '15 - 17:35 - 5478 of 8466
0 4 0
mark10101 15 May'15 - 18:52 - 5270 of 5476 0 0
"Where is Hedge, for all his encouraging evening posting he misses this one :-)"


Just logged on for the first time since about 5p.m. on Friday ... WOW!!!

15/05/2015 17:15 UKREG Touchstone Gold Limited Issue of Equity
" ... This is necessary due to a greater than expected increase in the customer base, in particular outside of the United Kingdom.
... projected sales of the newly enhanced tactical intelligence platform for international clients are now expected by management to form a greater percentage of Company revenue in this financial year than previously expected. ...
... Touchstone's resultant holding in CQCL is not expected to represent a significant percentage of CQCL's issued share capital. ..."



Haven't yet had time to read the over 200 new posts since the RNS three days ago, but I'm sure that the many great posters here have done it justice, and I may be repeating some points already made.


TGL's anticipated "non-significant" CQCL holding means less than 3%.
hxxp://www.blplaw.com/expert-legal-insights/articles/changes-to-the-aim-rules-disclosure-of-significant-shareholdings/

TGL will be paying £200K. for a £250K. stake, so the anticipated value of CQCL after that must be at least £8.33M.
The perfect size for a RTO of TGL, which is what I believe will happen.


The stuff about TGL implementing its investing policy is I believe just a 'box ticking' exercise, as the acquisition of GOS Systems is clearly far more substantial than some RTOs.

And Stanhill have a good relationship with the LSE, which is shown by the fact that the LSE allowed ZOL (Zoltav Resources) an extra week of suspension last year to complete a major acquisition.

Of course there may be a share suspension of TGL first, but I personally would welcome that.

Accompanied, I believe, by a RTO by CQCL in the second half of this year.

[1399peter] 11/2/2024 10:07

I actually got a reply from ITS asking me for proof of my shareholding before they would answer any of my questions but I couldn't be asked to send it to them. I might give it another go.

[mark10101] 11/2/2024 10:03

What is the earliest valuation we have when we invested £200k, they said we would not have a significant percentage, but fraction of a percent would be very good at this latest valuation. It was a while after we got the shares that they got a £50m injection. So suspect we invested in under a £50m MCAP. So £50m to £5b so a 100 bag.

We just have to work out have many shares we have left and what the current CQC share price is. But depending on dilution could be £10m?

[1399peter] 11/2/2024 09:25

Below is an old post from Hedgehog, The 2023 accounts are showing a further £190k decrease of net assets. So I am assuming Ilyas has been dipping his fingers into the Intellicrypt pie, "AGAIN".

Hedgehog 1002 Jan '23 - 18:22 - 8431 of 8461
0 0 0
"INTELICRYPT TACTICAL SOLUTIONS LIMITED
Company number 09935301"

"31 Dec 2022 Micro company accounts made up to 31 December 2021
View PDF Micro company accounts made up to 31 December 2021 - link opens in a new window - 4 pages(4 pages)
Download iXBRL"



ITS's latest accounts have been published.

They're showing little change on the year: the main change being a c. £1K. decrease in net current assets, to £791,849.

The value of fixed assets, which is apparently where ITS's holding in CQCL-Quantinuum is recorded (at the original cost price), is unchanged, which is good news: i.e. no further share were sold during 2021.
This value is now of course far higher than the original price paid.

[mark10101] 11/2/2024 09:21

This was from H back in 2019

Some other ITS shareholders have also asked (by private messages) for my views relatively recently.

The first thing to note is that ITS sold just 17% of its holding in Cambridge Quantum Computing Ltd. (CQCL)in 2017, so we still retain the vast majority of out holding:

£33,997 (from cost) of disposals of "Other investments" in the year 1.1.17 - 31.1.17: from £200,008 cost, to leave £166,001 cost.



CQCL is one of the world's leading independent quantum computing companies:



In view of its progress, and the valuations being awarded in this sector, it could now be worth £100M.+.
Which could make ITS's stake currently worth millions.

Re. GOS Systems: it has stable recurring revenues, and is nearly breaking even. It could also currently be worth millions.

Such valuations though would obviously not be reflected in ITS's accounts.

ITS's debt is relatively modest, and by way of a 'soft' loan from Stanhill.

My view therefore is that the value of ITS could currently be at least about the value at delisting (about half a penny per share). And that value could increase over time.

But I'm not really anticipating any return of monies to us, or (re)listing of ITS/CQCL, for a few years.
(Albeit plans in business and investment can change rapidly, so that could potentially be sooner in the right circumstances.)

So probably the best way to view ITS is a bit like a pension, and put it under your proverbial mattress.
Not much is 'happening' with GOS Systems, so there's little for the company to report.
The main 'action' is with CQCL.
So shareholders who want more frequent news should keep an eye on CQCL's website, which has regular updates.

[mark10101] 11/2/2024 09:06

How many shares do we have? We actually had a decent fractional % at the beginning.

[1399peter] 11/2/2024 08:51

CHARLOTTE, NC January 16, 2024 – Honeywell (NASDAQ: HON) today announced the closing of a $300 million equity fundraise for Quantinuum, the world’s leading integrated quantum computing company, at a pre-money valuation of $5 billion. The round is anchored by Quantinuum’s strategic partner JPMorgan Chase, with additional participation from Mitsui & Co., Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total capital raised by Quantinuum since inception to approximately $625 million.

This capital raise represents Quantinuum’s first equity funding round since Cambridge Quantum Computing and Honeywell Quantum Solutions merged in November 2021. The funds will be used to accelerate the path towards achieving the world’s first universal fault-tolerant quantum computers, while also extending Quantinuum’s software offering to enhance commercial applicability.

JPMorgan Chase has one of the world’s most highly regarded specialist teams working on quantum technologies within the financial services industry and has been working with Quantinuum and its predecessor companies since 2020. The company was one of the earliest experimental users of Quantinuum’s H-Series quantum processor and is also one of the most active corporate partners that employs Quantinuum’s software development kit, known as “TKET.”

Lori Beer, Global Chief Information Officer at JPMorgan Chase said: “Financial services has been identified as one of the first industries that will benefit from quantum technologies. As such, we have been investing in quantum research and our team of experts – led by Dr. Marco Pistoia – have made groundbreaking discoveries, partnering with quantum computing leaders like Quantinuum. We look forward to continuing to work together to positively impact our businesses, customers and the industry at large.”

Toru Matsui, Chief Digital Information Officer of Mitsui & Co., Ltd. said: "We are pleased with our capital contribution to support Quantinuum's new ventures in fault-tolerant quantum computing and quantum software development, which are ushering in the Quantum Era. Mitsui is committed to teaming to promote the introduction of Quantinuum's solutions in Japan and the Asia-Pacific markets."

Rajeeb Hazra, CEO of Quantinuum added: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create with the world’s highest performing quantum computers, groundbreaking middleware to accelerate the developer ecosystem and innovative application software to revolutionize fields like cryptography, computational chemistry, and AI.”

Darius Adamczyk, Executive Chairman of Honeywell and Chairman of the Board of Quantinuum concluded: “The successful completion of this investment round is a testament to Quantinuum’s evolution and maturation in the quantum space. Today’s news signals the extent to which Quantinuum is uniquely positioned to commercialize its innovation and continue their leadership in a rapidly growing market. We look forward to welcoming these partners as investors in Quantinuum, as we all look forward to the tremendous opportunities in the years to come.”

Quantinuum’s technologies are used today by leading companies, including Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui and Thales. In collaboration, these organizations are exploring how to engineer and scale quantum capabilities to help solve some of world’s most challenging problems – from designing and manufacturing hydrogen cell batteries for transportation, to developing materials to sequester carbon safely from the atmosphere to support the world’s energy transition. Quantinuum is also at the forefront of developing Quantum Natural Language Processing, which will help enable the next generation of AI to be scalable and fit for purpose.

J.P. Morgan Securities LLC served as exclusive placement agent to Quantinuum in connection with the financing. Freshfields Bruckhaus Deringer US acted as external legal counsel.


If I am reading this correctly, they are valuing Quantiniuum at $5b. And it's only just got going. Are we looking at a future $1T or more company here. I think we are IMHO.........

[hedgehog 100] 12/1/2024 16:30

"UK is ready to take a quantum leap on technology

Kedar Pandya
Executive Director of Cross-Council Programmes, Engineering and Physical sciences Research Council

11 January 2024

The UK’s quantum technologies programme has enabled a national centre of excellence and it must now push on to deliver societal and commercial benefits.

Quantum technologies don’t get quite the same press as artificial intelligence (AI). AI is further ahead in terms of adoption and commercial use and perhaps more understandable to your average person.

Quantum physics feels a little more esoteric. I’d say the potential is no less dramatic, however, and we are now starting to see those real-world applications.

Quantum technologies will be the backbone of new sensing and imaging techniques and communications systems. I also expect new quantum computing power will speed up drug discovery and the diagnosis of health conditions and solve major challenges across many sectors.

I believe the UK is in a very strong position to benefit and now is the time to forge ahead.

UK is leading the way in quantum research ...

Businesses are starting to adopt quantum technologies ...

Now is the time to attract investors
So, we have reached a strong point. The government’s new 10-year national quantum strategy and its doubling of investment to £2.5 billion is recognition of that. ...

Quantum hubs will get fresh impetus ...

Investors need to see certainty before they commit
To kick on, we must attract the venture capitalists over the next 10 years of the quantum technologies programme.
They need to see certainty around policy when they are making investments that carry a level of risk.
The new government strategy and the £2.5 billion investment send a strong signal. ...

Working together will get us to where we want to be ..."

[mark10101] 11/12/2023 10:59

Anyone heard anything recently?

[thedayplazashotmaxim] 09/10/2023 22:58

Yeah Thanks HH for the updates on accounts.

[hedgehog 100] 09/10/2023 08:35

Thanks Peter.

As ITS's full-year accounts have just been published, this is an ideal time for the company to start thinking about holding an AGM.

[1399peter] 09/10/2023 08:19

Thanks for posting hedge, good to see they are still ticking along. It's a shame they don't feel like communicating to their shareholders on any other level as you have mentioned. An AGM would be the decent thing to do.

[hedgehog 100] 08/10/2023 11:10

"INTELICRYPT TACTICAL SOLUTIONS LIMITED
Company number 09935301"

"30 Sep 2023 Micro company accounts made up to 31 December 2022
View PDF Micro company accounts made up to 31 December 2022 - link opens in a new window - 5 pages(5 pages)
Download iXBRL"



ITS's latest accounts have been published.

They're showing little change on the year in terms of total assets less current liabilities: a c. £3K. decrease, to £861,645.

But the value of fixed assets, which is apparently where ITS's holding in CQCL-Quantinuum is recorded, has increased from £73,168 (the original cost price, which had since increased in value by multiples) to £268,000.
Whereas the vale of current assets has decreased from £791,849 to £593,845.
There has also been a small increase in creditors (falling due within one year) from £395,166 to £400,246.


What are we to make of this, I wonder?

I would hope that ITS's holding in CQCL-Quantinuum was unchanged in during 2022, i.e. no further shares were sold; and that the main changes reflect an investment into fixed assets, with the GOS Systems business still performing O.K.


Quantinuum seems to be growing from strength to strength:-

"Quantinuum is Making News
Quantinuum is actively building a world-wide ecosystem of quantum collaborators. We’ve got a lot to talk about and people are talking about us."



And GOS systems seems to be ticking over as before:-



But it's now getting on for five years (January 2019) since there was an ITS AGM that retail shareholders could attend.

The pandemic could excuse this for a few a while, but this has now passed.

And indeed ITSs accounts have this year been published within the normal nine month time limit, with no three month pandemic extension as with last year.

[mark10101] 14/7/2023 18:53

Muckshifter, I think this will be the year for the comeback. 😀

[muckshifter] 11/7/2023 12:32

Surely it must be getting on for ten years since this company was suspended, but I see a few familiar names still here. Congratulations on your patience and persistence, and good luck on your hopes.

[plazapokerpro] 11/7/2023 01:53

Nothing from my end. I’ve now put the certificates away and no surprise really that I didn’t get the phone call. I guess there is still time for a miracle, I’m just not holding my breath any longer.

I hope you all have a great summer.

Plaza

[mark10101] 10/7/2023 14:50

Anyone have any news or have contacted the company?

[mark10101] 30/4/2023 14:54

Thanks for your insight HH, interesting it could be we sell our remaining stake at a decent valuation and then have a good cash pile to bring a much stronger ITS to market, maybe at a time the world has seen some of the cyber attacks they are warning us about..

[hedgehog 100] 30/4/2023 12:22

No Mark, I haven't.

I would add though that Quantinuum doesn't have to float for a stake to be sold at a great price: a private fundraising could be a good point, and if they're raising a hundred million +, then even a stake of a few million pounds could be a relatively small part of any shares sale.

Also note that TMOR, where former Touchstone Gold director Charles Goodfellow is one of the two directors, recently announced a positive update on its intended RTO progress:-

23/09/2022 07:45 UK Regulatory (RNS & others) More Acquisitions PLC Acquisition - Megasteel and Suspension of Trading LSE:TMOR More Acquisitions Plc
" ... Proposed Acquisition values the current issued share capital of More at GBP2.81 million (vs GBP1.19 million at closing on 22 September 2022) or over 2.3 times the Company's current net cash ..."


17/04/2023 07:00 UK Regulatory (RNS & others) More Acquisitions PLC Update on Proposed RTO LSE:TMOR More Acquisitions Plc
"Further to the announcement on 23 September 2022 regarding the proposed acquisition by More of Megasteel Limited ("Megasteel") (the "RTO" or the "Proposed Acquisition"), the Company is pleased to confirm that preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are now well advanced. ..."

[mark10101] 30/4/2023 09:56

HH, to be fair if the earlier sales gets us to extracting some value from my holding I won’t hold it against them too much, have you spoken to the company recently?

[hedgehog 100] 29/4/2023 21:48

Mark,

As I reported in my post 8431 above, ITS's holding in CQCL-Quantinuum was also unchanged during 2021.

We can't be certain what's happened since then, but as far as I'm aware Quantinuum hasn't had a fundraising since then, which might be a logical sale point, and if GOS Systems has remained profitable then it wouldn't need to by subsidised by a sale.

Not sure why you use the word 'squander': the company runs a very tight ship, but if there are obligations to be met, you may have no choice but to sell some of an asset.
But at least they acquired the asset in the first place, and sold part at an excellent profit.