Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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"I know that before Schroder's got hold of it, some UK councils were invested in this, but they suddenly pulled out and made the whole thing collapse.."
No pasa, you're mistaking this trust with the open-ended woodford equity income fund, which was suspended, then closed, following request for withdrawal of £240m (from memory) from Kent county council.
The shareholders of this closed-ended trust (which has not 'collapsed'), are as shown on the shareholders register.
Do a little research mate.
Scroll down the page on see the latest presentation by Schroder on SUPP.
https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/schroder-uk-public-private-trust-plc/?&utm_source=bing&utm_medium=cpc&utm_campaign=Investment%20Trusts%20-%20Public%20Private%20Trust%20-%20Exact&utm_term=schroder%20uk%20public%20private%20trust%20plc&utm_content=Brand&gclid=a5ce7bec9f661f56302b18a23ed94a62&gclsrc=3p.ds
Look under Institutional shareholders on the following webpage - you need to scroll down the page
https://markets.ft.com/data/investment-trust/tearsheet/profile?s=SUPP:LSE
What I meant was:
Is this trust backed by public money or have they bottled out and only shareholders own it now?
I know that before Schroder's got hold of it, some UK councils were invested in this, but they suddenly pulled out and made the whole thing collapse...
No, Oxford Nanopore is still listed.
Am I right in assuming that this is just a private trust now ...?
Financial Performance
Attribution Net
Analysis Public Private (debt)/
(£m) equity equity cash Other NAV
Value at 31.12.21 243.3 197.6 (2.9) (1.1) 436.9
+ Investments – 13.9 (13.9) – –
- Realisations at
value (12.2) (13.6) 25.8 – –
+/- Fair value gains/
(losses) (116.3) (28.5) – – (144.8)
+/- FX gains/
(losses) 1.5 6.2 – – 7.7
+/- Reclassified
holdings 11.4 (11.4) – – –
+/- Costs and other
movements – – (2.3) 0.3 (2.0)
Value at 30.06.22 127.7 164.2 6.7 (0.8) 297.8
*were in September*
Here's the interims from September 30th:
https://www.rns-pdf.londonstockexchange.com/rns/2593B_1-2022-9-29.pdf
Top 10 Holdings
Oxford Nanopore 162,641 36.9% 62,069 21.3%
Atom Bank 46,209 10.5% 38,090 13.1%
BenevolentAI 28,484 6.5% 32,734 11.2%
AMO Pharma 11,668 2.6% 16,151 5.5%
Reaction Engines 12,500 2.8% 12,500 4.3%
Federated Wireless 8,618 2.0% 12,481 4.3%
Ada Health 9,905 2.2% 10,155 3.5%
HP Environmental
Technologies Fund 10,667 2.4% 10,006 3.4%
Nexeon 7,788 1.8% 8,770 3.0%
Immunocore 21,044 4.8% 8,564 2.9%
Cash and debt
As of 30 June 2022, the Company held £6.7 million in cash
with no funds drawn from the loan facility.
Now, the question is:
Why did Liz Truss choose the UK's most unpopular politician Jeremy Hunt as chancellor?
Here it is. https://twitter.com/KwasiKwarteng/status/1580892129630777346?s=20&t=6tT2yetaWmWG8dKWaYSrrQ
Interim results are in September. Also, possibly good news has just in about Kwasi Kwarteng, so some volatility will hopefully ease off in the markets.
Gonna give these until year end and if 20p not seen will sell and take the loss. Disaster!
Sad to read of the difficulties for staff, but I'm afraid the truth was that Rutherford could not turn itself into a viable, sustaining business and so could not continue forever. Something had to give and from the narrow perspective of this trust, it's a good thing that we stopped throwing good money after bad.
As the years go by, the quality of SUPP's portfolio slowly improves as the bad ones go to the wall.
Read this news from 7/ 6/22
Private healthcare provider which operates a network of cancer and diagnostic centres in the UK has gone into liquidation, leaving radiographers wondering how they will pay their bills at the end of the month.
Rutherford Health Group has a network of oncology centres known as the Rutherford Cancer Centres located in South Wales, Northumberland, Liverpool and the Thames Valley.
More recently the Group opened the first community diagnostics centre of its kind in England.
Staff at the Group’s centres were informed today and arrangements are being made to transfer patients to alternative facilities.
A radiographer who wished to remain anonymous and who has worked at the company for two years told Synergy that the news has come as a complete shock.
"We had been made aware that the latest investment attempt fell through and last week the communications were still focused on arranging that, so to come in today to liquidation was a surprise, to say the least.
"Everyone is devastated at the moment and really scared - we don't even get redundancy pay, we have to get statutory, so naturally everybody is really worried about bills etc especially as most hospitals have already finished their recruitment drives for the year.'
The source said the mood among employees was extremely negative.
"People are really angry to be honest. We had even just hired an apprentice rad a couple of months ago and nobody is having their questions answered at the moment - all the senior managers in the big Teams call this morning were acting as if we should be grateful that we have a job until Thursday, even though people have no idea how they will pay their mortgages and bills by the end of the week."
They added that many radiographers had shown considerable commitment and loyalty to Rutherford.
"Some of the rads are single parents, many have mortgages and we are just being kicked to the kerb after all we have done for this company. Really shameful way to treat employees who were so committed to the cause," they said.
The company said a number of factors have contributed to the decision including a drop in patient numbers during the pandemic.
Rutherford added that it “made efforts to increase patient flow by offering the NHS a not-for-profit national contract in addition to existing local contracts but this was not taken up”.
Sean Sullivan, chief restructuring officer and interim CEO, said: “Covid has been particularly damaging for us as fewer patients were presenting with side effects during the lockdowns, and as a result cancer diagnosis has been delayed and sadly, in many cases, missed. This has meant fewer cancer patients have been presenting to our centres.
“Added to that, the business had grown rapidly over recent years. It was a very expensive business to set up, with over £240 million of capital expenditure to build and develop the cancer centres across the country, however, unfortunately patient numbers have not matched that.
I see Sphere Medical was taken over by another company recently Woodford invested a lot of cash in it .
Will there be anything back for the shares held once by this fund .
Or was everything lost in administration of Sphere plc ?
17.5p to buy, an approximate 50% discount to the stated current NAV of 35.54p...
It feels like it's back to the bad old days with this Trust.
More time, more patience, probably a lifetime's worth.
Here's a headwind with a difference. The blast of reaction engines. SUPP holds 3.3% of NAV in this. Worth £12.5m. Backed by BAE, Rolls, and IPO.
So a float would drive a further 2.5p-5.5p uplift in NAV by my reckoning.
https://news.sky.com/story/rolls-royce-backed-reaction-engines-plots-flight-path-to-1bn-public-listing-12680679
Pasejero, Don't believe either of these links are relevant to SUPP - Schroders do have a multitude of funds/trusts.
This may be promising . Anyone here know more about this?
https://www.ftadviser.com/investments/2022/07/19/schroders-takes-stake-in-crypto-asset-manager/
https://www.schroders.com/en/uk/private-investor/fund-centre/funds-in-focus/investment-trusts/schroders-investment-trusts/uk-public-private-trust/portfolio/
> The link above gives the top 20 holdings. Some very interesting fintech, biotech and hitech plays in there.
> Particularly, if you read the largest holding ONT's story this has an exciting future ahead helping organisations code genes in super quick time and a much reduced cost.
> Previously was 65% health. I'm noticing a rebound in Biotech which will benefit SUPP.
> 42% discount to NAV - when it reached this level previously it reverted to 30%
> Buy back programme should boost the next reported NAV
> Definitely is poor sentiment towards this share, I feel that too. It's my creature under the stairs.
....but is the market missing the underlying value on offer here?
I don't think the Schroder Juniors invest in things like energy, at least not in the traditional sense - just check their investment records.
I think they invest in "world-beating, innovative British companies in the public or private space", or some such claptrap.
I'd consider re-investing in this, but I need up to date information about their portfolio and the values of each investment, and I want to have an idea what their investment-stategy will be.
What sectors are they going to concentrate on?
Is energy going to be one of them, considering that brits will have to pay £4000 on average for their bills?
Seems to be a bit of a UK patriot.
Oxford Nanopore is not selling out to US offers apparently, which suggests real value in their company.
https://www.msn.com/en-gb/money/other/oxford-nanopore-boss-flies-flag-for-uk-science-after-others-sell-out/ar-AA10nIZ0?fromMaestro=true
Oxford Nanopore Technologies’ (ONT) Buy Rating Reaffirmed at Berenberg Bank
https://www.defenseworld.net/2022/08/09/oxford-nanopore-technologies-ont-buy-rating-reaffirmed-at-berenberg-bank.html