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Looking back at the latest broker note there's a couple of things that jump out re: Net Asset Value.
1. Current NAV is around 1.5pps so the current share price is already below the valuation of the assets owned by the company.
2. The note gives a clear indication of where they see NAV going on the back of the in-flight acquisition if its of similar size to AILAC: "The current share price doesn’t reflect the potential benefits of recent transactions or product initiatives. The price is substantially supported by net assets, that discounts the optionality demonstrated by the returns from the AILAC transaction – a similar deal would increase net assets to c. 2.5p a share – or potential growth in AUM; we estimate that another US$100m of AUM would move EPS into positive territory."
Feels like anything bought at these levels will turn out to be a bargain.
543K but @ 1.0975p gone through, that's probably why. I can get quotes for 50k chunks but nothing larger.
Very odd NT to buy any ???????????
Very nice price, nicely done!
Be interesting to see if any positivity returns next month when the 3p Warrants expire. Taking a potential 187.5m new shares off the table for a company with total voting rights of only 467m feels like a pretty big deal to me.
The first deal of the day was my 250,000 buy, shown in red.
Nice to get awards. Gratification in the industry. Well done. I'd say.
Award winners ??????????????????
Completely agree cszjrh01, everything we need to know right now is contained within the broker note. DD takes time andbthe larger the numbers involved the longer it takes. Precvious broker note mentioned acquisitions in the space can be $1bn or more, I'm not expecting the current acquisition to be that size but it will no doubt contribute significantly towards that $2bn target which I still believe to be conservative. We will find out the value in due course and I'm sure they're looking at other acquisition opportunities that are continually being presented to them and continuing to market the funds to HNWI and family offices.
I don't think anyone invested here has been suckered. Whilst there's not been an RNS from the company since the interims the key updates are all in the broker note for people to read. What we're seeing here is people losing patience and selling and others taking a longer view hence the TR1s.
Once the latest acquisition completes DD we'll see interest return then it sounds like there's a pretty healthy pipeline of other targets so 2B may not be as far away as some fear.
Looks like Greco was suckered too like the rest of us !
I topped up at 1.238p & 1.24p.
Feels like bargain territory to me.
Will continue adding at these levels.
I will look at more. At 1p. Mekas
I know what you mean, I bought a tiny bit more, but have enough shares already.
Year and a half ago they promised better communication, its not really happened has it?
I'm at 1.6p on this. And this drop. I really can't work it out. Unless it's a ponze scheme fund. And with the billions it's is supposed to be worth. Puts us at near 1p. Strange, I think a bounce off 1p. Will happen. Or a top up is needed. I can't make my mind up what to do. Wait to top or wait for bounce. If there's one.
Was it a pay for promotion or in exchange of shares. Blizzare thing to highlight a money loosing investment in a minor cap.
He’ll already be down on his investment then.
Who’s going to tell him the truth about this company?
Bl00dy H3ll, if an actor from East Enders says it's a great investment, then it must be, innit?
By gum, can we please have some confirmation from Vera Duckworth from Coronation Street?
Michael Greco is a British actor (once of Eastenders).
In a ‘This is Money’ interview in March 22, to the question ‘Do you invest in the stock market?’, he replied:
‘No, but a few months ago I invested quite a lot – tens of thousands of pounds – in a company called Alpha Growth. It's an asset manager which is listed on the London Stock Exchange. I hope my shares in the business will be worth a lot of money in the future.’
The 44,092 'sell' was actually my purchase. Some of the other sells could in fact also be buys I suppose.
is gob****e still on this planet.. folk dumping shares. probably concerned what the f@ck is going on.. zero reassurance from the company. 5h1tshow!!
Latest broker note issued by Allenby this morning in case anyone hasn't seen it: https://www.allenbycapital.com/client/alpha-growth-plc/
Some positive highlights:
- The previous successful acquisition completions which "appear to have alerted sellers and regulators
of similar businesses to ALGW’s intent, with management reporting that it is being presented with similar opportunities on a regular basis, some of which are actively under review."
- "The group’s focus during H1 23 was (a) a potential new acquisition, (b) integration of AILAC and Havelet, acquired in Q4 2022, and (c) marketing the Interval Fund. The interim numbers only reflect the integration work as the acquisition is still subject to due diligence". So if DD is happening that presumably means a Letter of Intent has been signed and we could see completion of this acquisition in the next few months
- And key for me: "ALGW does however have sufficient cashflow to cover ongoing corporate expenses and costs related to reviewing prospective acquisitions and carrying out legal due diligence. The group has three stable cash generative businesses/products comprising two life companies (Alpha International Life Assurance Company and Providence Life Assurance Company Fund) and a liability assignment business (Havelet Assignment Company Ltd)."
Of course not all a bed of roses - "ALGW’s current business is self-financing despite what it acknowledges has been a disappointing take-up for its two investment strategies. These have met performance targets but not as yet seen the expected demand. It remains committed to growing these funds but in order to reduce near term reliance on this product line, reformulated its business plan to focus on its M&A activity and continue to operate close to break-even" We discussed this possibility at the AGM earlier in the year so not a surprise. Focussing purely on M&A in the short term definitely feels like the right approach.
Here's Michael Greco (Who he?) talking about open communications with shareholders. Sounds like someone facing the COVID inquiry saying he didn't delete his WhatsApp messages!
https://algwplc.com/wp-content/uploads/2022/03/alpha_growth_final_540p.mp4
It is pure turnip talk. Meanwhile the CEO has emigrated from San Diego, USA to Hamilton in Bermuda, apparently to be closer to the main business. Tax free salary never came into the thinking, I am certain.
Also, along with the disappearing trick called Danny Swick, we never hear any more of this famous fund BOAGF in the Caymans, do we?
It all seems like a secret society where shareholders are an oppressed majority.
Agreed Shocking ! come on BOD
WTF seriously, does our ceo think this is acceptable to treat us all like f@cking mushrooms.. this guy is unbelievable.
What kind of entry point are you hoping for WWP?
And that's down unfortunately. This has turned into a lifestyle company for the board.
The current business plan is to acquire loss-making dross that other companies are offloading.