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I have taken a small stake here, but am mindful of the illiquid investment in KCR which stands on the books at £767k, or 31.5p per shares. The current mid market price for KCR shares is 23.5p, which would equate to further book loss of £192k.
The current NAV for KCR is £12m versus a mkt cap of £6m. The latest results talk of significant improvements at the company following the investment by Torchlight at 45p per share with the expectation of being cash flow positive within the next 12 months.
Given the above, I believe Drum will be able to sell their holding, if they so wish, at close to the current SIV and utilise the funds, along with the recent placing to make further acquisitions.
I think Drumz have made a good move with Acuity Risk Management and I expect them to take up their option to acquire a further 5% of the company.
Will probably add further on any pull back in the share price prior to the 'exciting news' promised this month from Acuity.
Oioi.
Why the hell would anyone want to take over drum?
Key points.
1. Will they get out of real estate as their holding is relatively illiquid, if they get out what haircut are they prepared to take. Will this be a short, medium or long term goal.
2. Will they have further rights issues. At the moment they simply don't have the firepower. Having such a high cost base for a 1-2m market cap doesn't make sense.
3. Further investments in acuity, yes I think so. Surprised now active they are in management of the company.
4. Further investments in other companies. Having one investment makes zero sense, issue at the moment there is a lot of money chasing some really poor quality Private IT assets - so real issues identifying opportunities and then not paying through the nose. Also drum does not have a history as a supportive long term investor compared to other listed companies in this space.
Anyway, will be interesting to follow.
What are people's thoughts? that Drum is going to be taken over perhaps? Or that their investment in Acuity (and it looks like there's some news from Acuity soon - judging by their tweet - thanks for pointing that out Optimist) or perhaps both? One leading to a higher valuation of the other perhaps. Interested to hear people's thoughts. I've been heavily invested in Energiser for quite a long time (since the energiser days - I am a big fan of Wickes and Malde - the fellas that run Inland Homes. But I decided to stay in because this covers my 'v risky' profile element of my portfolio! :)
I stuck a foot in too. But horrible bid-offer spread - at least on HL
Couldn't resist at these prices!
Having added a further 2% since the last declaration.......................
Twitter message from last week. Sounds like positive news on the way.
Acuity Risk Mgmt
@acuityrm
Stay tuned for some very exciting news coming in January!
The recent investment in cyber security should pay off - note the recent mass attacks on US govt departments. It just brings the current issues surrounding cyber security (and companies strategy towards cyber and data security) to the fore. That can only be good news for Drumz investment strategy imo.
They must be getting near to backing something into this shell.....
Moving up nicely on fairly low volume - MMs have gone NT @ 0.50p to buy and are asking 0.5399p on IG for 500k
As is the 2m buy just now.
2.25m buy is BrightGrow SSAS.
Not the 2.25m buy, however the 2x250k showing as sells were my top-ups ;-)
Good to see some interest at last.
Anyone claiming the 2.25 mill buy?
Nice, welcome aboard!
I just bought an initial investment 2M shares just above mid after waiting since IPO
Playing in the BIG BOY arena
https://www.*************.net/midland-states-bank-customer-interview/
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Press release
New telecoms security law to protect UK from cyber threats
Telecoms companies in the UK must follow tougher security rules or face fines of up to ten per cent of turnover, under a new law laid in Parliament today.
Published 24 November 2020
Positive update and a TR1 buyer yet it's down! Crazy!
Seems as though we have started to see some interest.
#DRUM price is very attractive seeing as it was over 1p and there has subsequently been some good acquisition news. Still at a discount to the last placing price
Ha ha, ramped it on the wrong board! You silly sausage.
#SYME
Hello
Angus Forrest brought this play into the market
0.04p to 0.8's 2000% rise
#DRUM is next
He has a large holding in DRUM
#SYME #TERN
TERN did 1700% or so as well
2.4-2.5p into 45-47p
#DRUM is sitting at £1.5M Mcap
£500k cash raised at 0.55
Current under 0.5
Go long here and Angus may well have created Tern MK2
in a world of Cyber and working from home Acuity could do very well