Member Info for Cvajt2

3.5% of Harpoon as per last half year results - a stake valued at £6.4m.

Entering the digital assets space seems to have been a disaster for AUG. Just noticed the writedown of the investment of Tesseract. Initial investment of £7.3m in June 2021 and written down by £6.3m - that is some quite fantastic value destruction for shareholders. Wonder if this is reflected in the “performance fee”. Lol.

Still very positive on the majority of AUG top 10 holdings. Hope to see some value creating events over the next 12 months. Can’t see valuation multiples compressing too much more from here so if invested can continue turnover growth we should see some very positive increases in carrying value.

Hoping for a bumper buyback at half year results or a special cash return on top of the planned return of capital.

Seems I was right with the cash raise after the FDA approval. Those 10m shares placed. Hopefully strengthened the hand of FUM with commercialisation agreements in the US as they won’t be desperate for a short term injection of cash.

Some interesting targets discussed in this analysis.

https://www.ii.co.uk/analysis-commentary/dividend-star-mg-waking-hibernation-ii527680

The announcement and Viking literature only refers to CCS not CCUS - so no USE.

Note 2.2 of the consolidated financial statement. Available cash at the end of the period was almost equal to the loss last year. Though I accept revenue will be reported during the next year this does not equal profit/cash. FUM will want to be in the strongest possible position to negotiate a US commercial partner so won’t want to be a position where they need upfront cash payments.

Wouldn’t surprise me if after FDA approval the board undertakes another cash raise.

It’s an all share offer. No cash involved.

Key things being “again”. How many more times are they going to tap up investors for money?!

We are more than “likely” to get a Q3 update. It is all but guaranteed to come 03/11/22 as per the companies financial calendar which has long been published.

Looks like Habito are struggling. Looking to raise money and see existing valuation reduced to nominal single-digit million valuation. Don’t see much negative read through for AUG as prop-tech (including Wayhome) represents 1% of NAV. Wonder whether AUG should throw more money at this or walk away.

https://news.sky.com/story/mortgage-start-up-habito-in-talks-to-salvage-future-at-distressed-valuation-12666186

Looks like the ii transaction has closed. Just had an email from ii that they’ve become part of abrdn. Looking forward to results in a few weeks.

Impatiently waiting for July and next reporting date.

My B shares cash went into my ii tracing account this lunchtime.

A rather muted response from the market to quite a substantial uplift in the value of Grover. Looking forward to the next trading update/results. The sale of ii means a significant proportion of the NAV is backed up by cash now.

Is Mercia also eligible for an additional performance fee from the managed funds as a result of the sale?

Looks like another AUG exit. Anyone know the value of AUGs stake?

https://tech.eu/brief/londons-seedrs-snapped-up-by-republic-in-75-million-deal/

The FT is reporting that Abrdn is going to make a £1.5bn takeover of ii. Current value of ii in Aug latest results was approx £850m. Very positive upside to Aug NAV.

Anyone have any thoughts about the catalyst for the latest dip? Seems to be quite a violent swing down.

Personally I am seeing this as a buying opportunity. There are plenty of companies in the portfolio which should imminently provide a catalyst for NAV uplift: ii (IPO), Onfido (IPO), Tide, Zopa (IPO).