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New TR1 holder
approx 65% now held by BOD's / TR1 holders
Register getting very tight
Someone definitely stake building again....2.6m buy just gone through.
Good move today
Not visible to most people and very cheap
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At work here
A long way to go before we get to a sensible valuation....
2.4m cap well below fair value.
Not much sells at this level.
Goes to show how tightly held this is that its gone up about 20pc on a handful of trades throughout the week
Good to see a bit of buying this week. I believe the omens are looking very positive here.
Torchlight have until the 11th July to exercise their remaining options in KCR. It would not surprise to see me to see a significant increase in the share price once that dates expires.
We may even see Torchlight making an offer for the remaining shares which would no doubt please Drumz if the offer is a fair one.
I see Acuity's year end is the 31st March. It would be helpful to get some sort of idea on the growth in the business has been over the last financial year. From information that has been released on contract wins over the period, I bet the growth is quite significant.
Starting to move
https://www.investegate.co.uk/marketsandmarkets-/gnw/cybersecurity-market-expected-to-be-worth--345.4-billion-by-2026---exclusive-report-by-marketsandmarkets--8482-/20220405143000H6595/
Extract:
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And the spread has significantly tightened too.....could we see this hit a mighty 60p??!
Is this one of the Inland Homes (energiser) directors selling out or someone else? Anyone know? Despite the selling, price seems to be steady at .485
Really positive RNS and update. Here's hoping KCR continues to do well - can only be good news for the Drumz investment (unless they've been quietly selling down their investment?)
Interim report out:
https://www.investegate.co.uk/kcr-residential-reit--kcr-/rns/interim-results/202203300900025677G/
Is that you buying Phenom?
Thanks both.
OOS - yes I'm sure Acuity will prosper in the current climate. Will be interesting to see what the next investment is.
Optimist - appreciate the clarification. Presumably Torchlight do want a listed vehicle, the cost of a takeover bid is pretty high, if that was their gameplan they would surely have bought the whole thing at the outset rather than construct this complicated long term investment mechanism. Either way though not long to find out now!
The "Option Period" expires on the third anniversary of Admission, which makes it the 11 July 2022.
https://www.investegate.co.uk/kcr-residential-reit--kcr-/rns/subscription-and-strategic-agreement/201907121624304368F/
If Torchlight exercise their remaining 36m options, this would take them over the 75% holding and then allow them to do whatever they want with the company.
Either way, I expect we will have some closure by then, but I suspect Torchlight will have to make an offer to buy out the remaining shareholders if they exercise their remaining options.
Phenomenonnick; it was more an update on how things are going at Acuity than anything else - it's not that I want the income from it or anything (like you I'd rather see it re-invested). I'd just like to know how it's going. THat's my one area/the rationale, if you will, for keeping my investment in Drumz. The KCR thing - we're just bit part players in that (thought Drumz legacy investment, now that Torchlight are all in, as it were). I'm just hoping that rents have risen, costs are under control and that perhaps they've sought some air-rights planning - helps increase the portfolio's valuation). I know factually that they were trying to explore air-rights (under a 'project osprey' banner, where they'd put together 5 of the portfolio - I think- as having planning potential for air-rights). It's a great way to sweat an income asset etc etc.
But it's Acuity that, for me, has the angles for growth. Unless that's a dog too. But I can't believe it is; bearing in mind that the sales guys should be all over the messages we're seeing in the paper's about the Russian hacking threat. It should be pushing against an open door, selling the service (I mean). I just sincerely hope income and profit is growing there.
There surely won't be income from Acuity - and I don't think I'd want it: with Acuity 75% owned by management and still a relatively small business I'd prefer to see cash reinvested in the business to accelerate growth than see the management taking cash out, even if a quarter of it comes our way.
With you 100% on prayers for KCR though! If I remember rightly the Torchlight option that lets them take ever more shares at ever lower prices finally comes to an end this August. Think optimist knows more but I'm hoping that if we haven't been able to sell our shares, conditions will be more favourable after that.
But any income from the Acuity investment will be mentioned in the update perhaps? (as an aside/update) to the interim report. Hope so. On KCR - I'm hoping there will be progress there (and at some point perhaps the share price might rise at KCR too).
Here's praying anyway.
Trouble is the Acuity stake being unlisted, that firm's brilliant progress won't be reflected in the Drumz P&L. Instead as you allude that's driven by the legacy investment KCR as that's listed. Sooner that gets sold the better I'd say.
Interim report due this month. Should hopefully see a material change in the p&l account.
The last NAV for the company was 40.86p, so the shares are currently trading at a significant discount.
Some good news from KCR may spark further interest here.