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To realise value through exiting the investments over time, the Company invests in early (but not seed) or later stage investments in unquoted fintech businesses.
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Hi Fever Clucker. - got my ‘4 for 19’ and the extra 40% allocation shares confirmed on my A J Bell Platform on 13/7 and the 60% unused funds was credited back to my account as cash on 19/7.
I think there has been some cashing in by day traders, taking a profit on their £1.355 purchase.
Hopefully today’s stronger rise will continue.
Anyone still not received their share allocation under the OO?
HL said shares be in account around 13 July, I'm still waiting!
Existing shareholders who applied got 4 shares for every 19 shares owned, I've checked my ii account and this is what happened. Here's what I did: I took the pre-issue shares from the current amount and compared that to the pre-issue shares divided by 19 times 4. Should be the same number unless you applied for more shares that the entitlement.
Some funny movement on my aj bell account today but still haven't a clue how many shares I have ????
The RHS referred to 181m share in issue consequent on the fund raise. This figure is in statement on 13th.
I expect that my application may be scaled back, though to what exent, I have no idea.
Was suppose to be admitted to the market at 8am this morning.
I was expecting an RNS today confirming the % scale back on the offer, and when the shares will be released to platforms like AJ Bell.
Anyone know the timings on this?
hmm huge demand, soon be back to 1.70 +
Just a straight 40% of what you applied for, was hoping for more
Anybody aware of the basis of allocation. Is it a standard allocation % whatever has been requested, or a sliding scale where smaller allocations are met at a higher % or in full?
Looks like the Onfido IPO is gaining pace. Switch to US accounting standards and recent job advert for senior accountant with US licence etc. Any thoughts on if Augmentum will sell into the IPO to reduce or exit its position or keep and hold?
I've put in for my maximimum allotment.
The price for the placing is pretty immaterial, it has to be attractive so that it attracts cash. If the company has been able to demonstrate attractive uplift in the underlying NAV and this translates to a growth in the share price, it will be well subscribed.
I believe that the return has actually been pretty lacklustre but the fintech sector is poised for a significant uplift. Decision not yet made, but suspect will participate
Midas updates and says discounted placing is opportunity to add and an entry point for new investors.
Interesting to see Simon Thomson commenting on AUG in this weekend’s IC. Approval of latest portfolio updates and cash raise. Raised target price to 160p.
Held since 2019 and seen a nice steady rise in this share. A good LTH for my ISA. Disappointed to see the pull back from 170s but I am taking part in the fundraise.
Looking forward to hopefully see ii IPO this year but I think that has been the eternal rumour for the last couple of years.
I have actually added as the SP rise of other funds like CHRY and GROW have gone up above NAV and AUGM will be playing catch-up for those line me who like to wait but not wait too long.
Etotheipi, don't worry too much about it. Fintech is looking good this for 20% annualised for a year or two. This has not reached my buy price so I am leaving this forum for a while as I don't think I will get my price.
Thanks, clearly I should have paid a bit more attention to the RNS.
The fund raise was in the results RNS on 7th that they would raise money. Raising money to invest in new companies is great but it will always be done around the NAV price. The company never provided regular NAV updates and the share price simply got way ahead of its self. On the 7th investors knew this, hence they excited for the door.
I should declare that I don't hold here but I do hold CHRY (and used to own GROW and HGT). But I would buy at the right price.
Mr Fibbles, it turns out the offer price is going to be 135.5p so I've taken a bit of a hit. May I ask, why was it obvious they were going to announce a share issue today?
Yes Alan no point selling now as it is clear from the share price that the placing will be cr 142p
Guidence that has been provided is for the NAV to be released in June.
This is a very young IT and although it has quite an impressive record since launch, it is not yet enough to smooth out wild variance in market value. Sure, yesterdays drop was painful, but, I would contend that it is consistent with recently listed equities in a relatively new nd unknown sector.
Happy to hold and await documents showing the fundraise which will be considered with the benefit of the declared results
The drop was predictable and the fault is with AUGM bod for not releasing a NAV. AUGM wanted to raise money and this is sensible but as we did not know the NAV the share price would be heading that way when the placing is announced.
Alas_Smith, interesting overview of ITs. I was shocked by yesterday's 7% drop. Maybe a delayed reaction to the rns about share issuance but I thought that was on Tuesday when I topped up. Odd that a big drop would occur a few days before the annual results.
Today AUGM has punted the notion to raise cash from shareholders. We know that the shares have risen 16% this year so the expectation is for decent numbers presented in the financial statements. Institutional investors might or might not participate in the fund raising, it depends on how good the numbers are and the pricing for succesful admittance of new shares.
Usually new shares are admitted at a discount to the prevailing SP, so it is actually to advantage if the SP does not get carried away in the run up to a fundraising placing. I have sufficient cash to be able to participate to a limited extent, if, for no other reason than to avoid dilution.
If the results are pedestrian, for me there is a compelling argument to sell. I’d prefer to participate in a fundraising especially if the terms are attractive but until there is news on which to base a decision, I will hold and await documents.