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TBO any ray of sunshine at the moment ....TSI and ORCP bucking the trend and long may it continue :)
JD - never like to be accused of ramping ;)
It all make sense to me...both Brandshield and Weshop have had the need for investment. TSI also have skills that are useful to both and the only way for TSI to gain an appropriate share of both companies is to fund raise. TBO I have no idea where this will end up, but with Weshop especially I think the multiples being mentioned are extremely conservative.
Lawley hasn't ruled out further dilution but is that a worry?
If we dilute here (and not saying we will) to increase % of something that is going to revalue considerably then why wouldn't we invest? If our continued investment helps increase the certainty of 2 x IPOs then don't see much wrong with that.
Not much point in waiting for the IPOs and then piling in.
What we don't know yet is the multipliers involved.
20% of £50m is double our existing MC alone?????
8% of £100m is more again????
As long as dilution = equitable added value pre-ipo's then it isn't necessarily a bad move.....
I agree it seems like a good bet just owndering how much furhter dilution is planned, a couple of million raised takes a holding down by 33%
OilMagnet - agreed.
Look at the products, look at the people who are invested here, look at previous social technology products have achieved.
Either buy in or don't nothings nailed on so spread your risk but imo this one is a good bet.
Dilution has been all about building up an asset base before the value of those assets is realised.
Andrew Lawley has completely changed the direction (and therefore, the asset base) of this company from old BNR days. The dilution was a necessary evil but we now have 20% of Brandshield and 8% of Weshop (and a stack of Billionaire backers who traded WS shares for TSI shares.
The markets for both BS and WS are absolutely huge. Both firmly committed to listing independently this year (Q2 for BS and soon thereafter (I believe) for WS).
When IPOs confirm values - TSI will be recognised for its' true value.
If you don't believe then don't buy in now - simple.
If you miss out on the growth potential here, don't moan.
Is it gauranteed? Absolutely not (what is?) but there are many many more 'investment vehicles' on AIM that have way higher valuations with no where near this much short term potential.
GLA