Thinksmart Ltd Share Price (TSL)

finnCap... Target Price 33.0p ... Valuation. With net assets of c£17m, of which c£7m cash and £3.5m in shares in APT, ThinkSmart shares trade at a c60% discount to book. Our view. The 6.5% ownership of ClearPay represents a significant upside for Thinksmart. APT is the most established global competitor in the online point of sale market by a large margin, having achieved a 25% market share of all Australian domestic apparel online sales and 8% of all online physical sales in only a few years. In May 2018, APT launched in the US and by the half year to 31 December 2018 it had gained 2,800 retail partners and 900K customers (Feb 2019) and transacted Gross Merchandise Value of A$260m (11.6% of group GMV). By comparison, it took 28 months to achieve the same GMV in the Australian business. We believe that the intellectual property that APT brings to the UK market is significant and will greatly accelerate the development of ClearPay and hence bring to light the value of ThinkSmart's holding in ClearPay. ATP estimates that the UK online market is more than 4x bigger than the Australian market and more than a fifth of the US market. ThinkSmart plans to sell the holding in ClearPay to Afterpay in five years at a valuation based on the Afterpay valuation in five years’ time. After Pay Touch Group currently has a market cap of AU$ 5.7bn up 90% YTD.

At last we are seeing some good work being done to revalue back up to the sixteens....

What's the future for this company babbler, any idea?..worth an investment?

Up 78% and not a single post today? Wow...

NAV 16p RNS. well done all - I did tip it pre-open on twitter.

Ex on 14th March. Payable 29th March