Member Info for barchid

Boards
I do indeed recall that post but I really thought that by now I could have discovered a bit more, sadly unable to though, which leads me to conclude that the holding must indeed be small. Interestingly it did not appear to have come after an EIS issue to their funds so I suspect it was a holding from one of the VC firms Mercia has merged/absorbed since inception.
The management are never backward when coming forward so even though it is clearly good news for Yourgene it probably doesn't do much, if at all, to Mercia itself.

Boards
Good spot, you are talking "yourgene" ?
I am struggling to see how much mercia does hold, I waded through the accounts and rns but must be missing it somewhere, I see it on their website but that is it.

Solstace
On Feb 26, when you were at the start of your interminable "pump & dump" for the book I suggested you look at Tristel as they had sold a large consignment to China of their cleansing products. You clearly were doing the A to M's on the book not the N to Z's so Tristel was of no interest to you, if you check the Tristel chat today you will see Boards is also there, such a shame you chose Mercia eh ?
As you know in pump n dump, some you win, some you lose. As you said dyor .....

Boards
That is a very perceptive comment, the subtlety of which is sadly likely to be missed by the recipient.....
It must be said though, the more he posts the more they go lower.

Solstace
Are you sure you aren't suffering from anything?
You keep deriding any alternative view to your own, you make 10 posts when 1 or 2 would suffice yet you expect people to take you seriously with your wet dreams over a 30% stake in a tiny EIS ?
Re arrange GLA to GAL (get a life).
Have a great weekend

Boards
I must confess to being impressed with his diligence, but the more he posts the more the stock goes down !
10 posts yesterday and the price closed lower by about 0.5p.
Perhaps if he can refrain from posting today the stock won't take another pasting, loved the Equinox bit.
Perhaps he posts from Stonehenge ?

If it is so valuable have you bothered to think why a long term backer is decamping ?
Or is that irrelevant ?
When you started trying to puff these about 3 weeks ago they were 25.20, now you still try to shift a bum position and they are now 14.25, not terribly impressive puffing is it ?
Good luck with your normal puff anyway....

Boards
RNS just out showing that NFU mutual has sold down their stake to under 3%, so it is no longer disclosable.
Interesting as they were one of the original backers and have access to much information that PI's would have.
Looks like they are not too bullish on their NAV prospects either.....

Boards
Very true !
One has to wonder how much of this is real & how much is hysteria, but that's something only time will tell.....

Boards
Given the lack of a quote for most of their portfolio it is tricky, in a decent market, to estimate a fair value. A lot of these stocks had a value of the last fund raise put on them, which is fine as a starting point, but pretty dire if Mercia think they could sell them at anywhere close to last price paid, even in a decent market, as Woodford found out to his customers great loss. Essentially eis stocks are lobster pots, easy to get into, rather hard to get out of. Hence I was always wary of their declared nav.
In a market like this though, would anyone be looking to buy their holdings ?
December I guessed the nav was essentially optimistic, now I think probably delusional.
Why not halve it and go from there ?
If and when markets pick up it is the micro stocks which are the last to recover, sorry if I sound a bit morbid but I think some cynicism is needed.
There is also quite a lot of competitors in the eis space, which is also less than helpful !

Boards
Indeed, the EIS loss relief will indeed come in handy but only for the private investors who bought in, for Mercia it is a straight forward investment on the balance sheet which will be treated, largely, like any other asset.
Mercia has certainly taken a pasting today though, like most aim stocks in this brutal market.

Boards
Absolutely spot on !
I am convinced he is a market maker puffing things as and when needed, then goes all silent again.

A serious question though, in these current circumstances does the NAV really mean anything when it consists of largely unlisted & illiquid EIS schemes which have generally moved on to the 3rd or 4th cash round which MERC can take by piggy backing on EIS investors who bought for tax reasons at the early stage ?
Not many of their holdings are listed so a realistic valuation is probably quite a lot lower than last stated, imho.

Fairdealer
They are amphibians I believe ?
Humans are mammals, or am I misinformed?
I must admit to not being a member of Mensa as apparently Appleby is, perhaps I am missing something.
Doubtless Quelch will inform us all
Happily one thing I am missing is his property company he has boasted about, that might not be so good these days.
GLA

Trent
Your guess is as good as mine, perhaps he dislikes a different viewpoint ?
Too much cognac and not enough HobGoblin perhaps ?

Appleby
Do grow up !

Fairdealer
I was becoming nervous of the dividend early this year, as at start of March I was working on the basis there will not be one, we also, as you are well aware, have a new Chairman who is very keen to cut the debt, and what easier way than by passing your divi for a year and then rebase it on profits ?
I also expect a kitchen sink job to be done on the valuations to ensure they can avoid the embarrassment of selling a line of pubs well under book again in the future.
This should give them some useful tax losses for when they start declaring blue numbers again.
Our problem though, whether buyers or sellers that we may be, is how much of this is already in the share price ?
My guess is quite a lot, but only time will tell.

Fairdealer
I totally agree that a bid now would be a cheap one, hence my mention of Lord Hanson knowing when to buy value, but our options are not as rosy as they were earlier this year when they were just above 130p.
One thing to expect in bear markets is the unexpected !
You always find the people who know when the turn is coming, etc etc, but imho the only thing to remember is to be wary of everything until the dust settles, everything has been sold off badly these past days but some good stocks will surface as real value plays, usually those with out debt.
GLA

Trent
There is always more than one way to skin a cat !
To a predator this could be a very succulent cat.....

Trent
Considering that the lowest trade yesterday was 50.95 it is not much of a stretch to see them less than 1p lower is it ?
Having said that, & cogniscant of the fact that bear markets have a nasty way of stealing money from investors pockets, three things I have posted about for some time were,
a) The posibility of the divi being cut or passed altogether (& then to be rebased on profits),
b) The fact that a substantial sale was made of multiple assets at a significant discount to book,
c) Quite likely the largest UK brewer would be attractive to an overseas brewery, I thought that when they were twice the price they are today, perhaps when the dust starts to settle the value of owning such a brewer, at cut prices, might become irresistible.
So, two bear points but a bull point as well.
It is significant, if you look back, how many take-overs there are after bear markets, Lord Hanson, for instance, was an expert at buying value then.
Indeed with the amount of cash required to take out MARS at present would be a light morning snack for many private equity houses, so who knows which way things can pan out ?

A
You must be a sensitive soul as you feel obliged to keep repeating yourself, I have already pointed out what the low of the day was, as you are clearly so smart you would surely only ever buy at the low and sell at the highs ?
Do enjoy your weekend with the frogs please, I'm sure they will congratulate you on your Denser membership