Member Info for fastduckharry

Last week's placing most probably timed before FTSE250 admission rather than any Mike Lynch extradition panic. If there is room for DARK to rise rather than fall on entry, will keep the fund managers happy. Also next month, week of 13 September, is the Full Year results with outlook for the year, which hopefully indicates an improvement on the July 15 forecast. Ultimately, the numbers, revenues firstly, is the driver of the DARK sp.

Hopefully the placing will have been completed and a rns advising so will be released by 0700 tomorrow. The sellers want to sell a minimum of $150m. Assuming a price of $9 each, likely to be upwards of 16.66m shares sold, perhaps 20m. Obviously the higher the demand, the higher the bookbuild sale price. The Dark sp likely to reflect that.

Summit Partners are original investors in Darktrace. KKR DA came in on the second round of investment in 2016. They are the major sellers in this event and currently each has a director on the Darktrace board. They are likely to remain as major shareholders in Darktrace. The other substantial major shareholder in DARK is Angela Bacares, who just happens to be Mike Lynch's wife.

From Dec 2018 but it does detail the thinking at the time that the Invoke Capital set up and funding was not exclusively from Lynch. Meaning Darktrace could not be considered as dependent on his possibly tainted money.

https://www.businessinsider.com/mike-lynch-out-darktrace-board-criminal-fraud-charges-autonomy-deal-2018-12?op=1&r=US&IR=T

My thoughts are in line with JayneC. There is another possibility. That is the institutions are seeing the price rise and moaning that they haven't got enough stock. Putting pressure on Darktrace for a secondary placing. If one is in the offing, likely to happen pretty quickly.

DG12, thanks for the post, well worth reading.

Thanks for the details. The key date for September inclusion will be Tuesday August 31. Bit of a tall order to make the FTSE10 at this time. The FTSE250 is ok for starters. The best opportunity to get into the FTSE100 would appear to be March next year, providing the H1 numbers have been released, along with upgraded expectations for the full year. The forward revenue growth numbers, at least 29 - 32%, issued on Thursday were understandably cautious. As the year progresses am looking for 50% revenue growth or better. Am sure Darktrace have a similar target.

When the shares were sold, I did a calculation at the time, on the money raised, which worked out @5p a share. If one adds 3.5p a share as the likely August Q3 divi (was planned xd 19Aug), we get 8.5p. Would be surprised if not combined. More than happy with that.

Missed the Primary Bid Offer congratulations to those who have managed to snap up some cheaper shares. Still happy with this relatively massive deal. Nordkalk is probably crying out for a radical efficiency overhaul. Sigmaroc have the track record to do it, though likely to demand plenty of thought and attention in the short term. Resulting improved operational activity will mean an uplift on expected increased profits and quicker debt repayment in the coming years.
The limestone assets being targeted here, convinces me that as well as being a major constituent in the manufacture of cement, it is also required to manufacture Greenbloc.. No mention in the rns, however, does highlight its importance in the manufacture of construction materials.. Regardless, the limestone assets are inflation proof.. A good long term buy, would expect the sp to return to 95p pretty quickly with the placing fully subscribed.

To me this company is on the up. No doubt given a push by the Covid pandemic but still accumulating some interesting clients, word gets around. On top of the decent numbers, today's RNS sees the CFO filling his ISA allocation with FCAP shares. Also transferring many into his SIPP. Always a good sign for me, so bought in today. Good luck to all.

Nothing unusual about having an end of year trading update. As Darktrace are newly listed could well be in August. Final Results in October and AGM in December.

With regard to the FTSE250 it used to be that the decision (not announcement, third Friday) on changes was made on the first Friday of the month, therefore that would be September 3. The valuations used were from the preceding Tuesday. That would mean August 31 this year.

Has it changed?

Any ideas?

Apart from that matched transaction with the odd extra 383 shares thrown in, it seems as if trading has been put on hold. Could have been worse, still a substantial holding.

Last year we had a rns trading update in early August, likely the same again.

Any company providing software as a service needs to be protected. This is an update from the BBC on the knock-on effect of the initial US attack.

https://www.bbc.co.uk/news/technology-57707530

Am expecting a trading update this month, probably towards the end. Will give us an idea of how much the business is accelerating. Revenues in their new financial year likely to push SP to £10+ by next summer, providing that DarkTrace's software keeps one step ahead of the hackers.

https://www.express.co.uk/news/world/1456356/russia-news-russian-hackers-hack-attack-germany-german-banks-revenge-sanctions

Breaking news

Have topped up today as we are likely to see a Trading Update in early July. Will review then.

Trading profitably @90% of 2019 levels, thanks to cost savings. That is very good news.

Saw earlier on Bloomberg News an Investment Manager for BlackRock who used to be an advisor to George Osborne when Chancellor of The Exchequer. He says that Javid is more pro-business than Han****, therefore expected to end restrictions on July 19 as vaccinations are levelling off hospitalisations.

Three experienced partners recently added to the US team. Note the phenomenal year quote from Elixirr's US team leader.

https://www.consulting.us/news/6059/elixirr-steps-up-growth-in-the-us-with-three-new-partners

Extract taken from Darktrace's Careers page for the Americas, these are their own words:

Darktrace, recently named one of Fast Company’s 50 ‘World’s Most Innovative Companies’, is currently expanding its sales organization to accommodate a rapidly-growing customer base and accelerating revenue.

Many driven individuals required for their San Francisco or New York offices.

RP68, I agree with your assessment of the Sigmaroc management.
I see this as a long term strategy deal. This JV with CB would also guarantee supply of the main ingredient of cement, powdered limestone, at around 60-65%, for their own production set-up. Also would expect this material to be a major component of Greenbloc products. If one assumes that they will be successful in the UK. Sigmaroc would want to expand into their area of Europe. Being green, will mean local manufacturing of the Greenbloc products, requiring a ready supply of raw materials.

Reminder regarding Capital Reduction. (rns 7/4/21)

>It is anticipated that the initial directions hearing in relation to the Capital Reduction will take place on 18 June 2021, with the final Court hearing taking place on 29 June 2021 and the Capital Reduction becoming effective on the following day, after the necessary registration of the Court order with the Registrar of Companies has taken place.<

https://www.bbc.co.uk/news/business-57423008

Cheaper and less embarrassing to use Darktrace.