Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The quicker the better for everyone. They need the cash from Leap if they are to stick to their plans. Not much left in the kitty for new investments. God forbid a raise at these levels it would dilute the f..uck out of the NAV.
Bemmaccoli Ed said the Leap IPO could still happen this year but the long stop date was early 2022. You stated Spring 2022 which implies March to June. If it could still happen this year the long stop would be more like January. Remember Ed has to be careful what he says about timing and EMMAC shows the time line could be very short if for example IMG just make an offer because as Ed said Leap is integral to their business as well as being a large shareholder.
your right Doggo, i posted that yesterday but no one said anything so left it, for me i just cant see an IPO but Ed has to to show a potential bidder to get a move on or we might have to go down the road of an IPO, our biggest high street names might well be gone soon but not gone from the high streets as they don't want the betting shops they want the online gaming/casino parts of there business and this is where Leap fits the bill under one roof, so come on Endeavor pick up the phone and make an offer.
Dito
Talking of Leap timeline surely Ed has lost credibility as previously it was q3 2021 and how its Spring 2022 - happy to be corrected but as this is the single most important event for Seed then do we believe its in hand? Can we believe what Ed says this time?
A lot of the Entain PF use Leap sportingbet and bwin amongst them
When considering Leaps value just look what is happening in its market place.
Entrain has received a £16.4 billion bid from Draftkings which from memory is significantly more than the last time a bid was rejected. A bidding war is expected. 888 holdings who Leap deal with was the highest FT 100 riser this morning as read across from the Entain news. The short delay with Leaps IPO will I suspect turn out to be good news as Ed essentially said this morning. Ed mentioned it would be good to get a large investor to take say 20% as it would help to address the share price issue. Leap will hopefully IPO this year according to Ed so it could happen sooner than some traders are clearly expecting.
I well remember the presentation that talked about the EMMAC IPO and then within days it was sold.
Yeah absolutely - it was just a scenario in response to O'Donnell's question. I've quickly knocked up a scenario which looks forward six months with very prudent returns. It assumes opex of £1m; IPOs of the companies where we have convertible loans (accruing interest, then showing discount on buy-in price, then a growth of 10%); growth of 10% in listed and unlisted holdings (LGP, Yooma, Eurox, Portage, Vemo... but with Juve' left unchanged); and Leap shown as floating for £50m total, but with us getting a 15% discount on the buy-in. I think that's all pretty reasonable, and shows a NAV / share of 19.4p by March 2022.
Reefles
That begs the question why would they invest in something that isn't going to increase in value therefore leaving all other investments as unchanged makes no sense and places to much emphasis on Leap to be the driver. Yes it is an unlocked gem, we hope, but the future is based on can they deliver profitable investments in the wellness sector and I would hope that they are targeting 100% minimum on all their investments going forward.
https://we.tl/t-OO2NY5zKCw
You're welcome to download / play around with this tracker. To give SEED a NAV of £50m total, with all other investments left unchanged, requires our holding in Leap to be worth c. £35m. With this adjustment, it would make the current NAV / share = 23.7p
No it is more like 23p as we thought. getting to old for these sums lol.
If 50K is realised that must be equal to about 42.5p per share, basically double what we envisaged, if my mental arithmetic is still working, think I must be doing something wrong.
As often happens, a 'good presentation' is followed by a drop in SP. Typical AIM. Leap Q3 delayed, shareholders don't like delays! I can wait, but not beyond 6m. Good luck all.
A very professional presentation by Ed and the rest of the team. Leap has had some small delays but this was largely to do with how active the IPO market is at the moment in terms of getting legal and other professional advisers to deal with various matters to get everything in place. Ed mentioned people on bb’s kept coming up with revenue details for one company but they should understand that there are several companies in the Leap Group so they don’t give a full picture. It will all be revealed at the appropriate time in the IPO documents however as with other private companies SEED is invested in they are not allowed to reveal information without the company’s consent and certainly not pre IPO. Ed also said to remember that the commercial growth of Leap continues at pace while the IPO preparation goes on. So Leap will be worth more on IPO than it is now.
Ed stuck by his £50 million market cap by year end or early 2022 which ties in with what he said about the Leap IPO timing. He sees £50 million as a minimum so as I have said before read between the lines what he is trying to tell you about Leap’s value imho.