Member Info for gilesfitzh

Yes but no reply as yet. Doubt I will get a reply tbh.

HullFC4ever asked me this the other day and I directed you all to 2mex's exelent round up of reasons to be invested in ALGW. I have been asked elsewhere for the same and this is the reply I gave.

Bear in mind that I am a private investor with NO background in the financial sector but some years experience in investing in shares. I have made some horrendous investments, most notably Range Resources (RRL now STA) and a few decent ones, Africa Oil, Games Workshop and way back some dot com start ups.

Having said all that I have met Gobind, albeit for just a couple of hours, and he seemed like a stand up guy and I don't think he's out to fleece PIs as seems to be the case with rather too many AIM companies. He has also registered ALGW with the main FTSE market rather than AIM, set up companies in the Cayman Islands etc. which seems like a lot of effort to go to if your just trying to con a bunch of PI's out of their money.

The idea of BOAGF is, IMO, fantastic and I don't see how it won't be hugely successful in attracting institutional and High Value individuals to invest in the fund. The earnings by ALGW from the fees once the fund reaches £500 million and from the performance fee once this has had a chance to settle at 15-16% really start to be substantial for a company with a market cap. of £2-4 million. This alone is why I have invested.

On top of that GS has said that there are 3 other income streams that he is working on and, although I'm sure these aren't going to be immediately transformational it surely isn't going to hurt.

As to where the sp might be in the future, well TBH I don't know. I have hopes that if the RNS that we are all expecting confirms that the Revolving Credit facility has been signed off and that some initial Life settlement policies have been bought and put into the BOAGF and that some $250,000 units in the fund have been sold then we should be golden. Will the sp be 5p, 10p, I don't know but I hope so.

In the current market conditions and the future fall out from them, I can only think that non-correlated investments can't fail to be of huge interest to ALL investors and that can only be of benefit to ALGW.

At 08.30 spread was 1.045 - 1.2222 (17%) then someone sold 500k shares and the spread was widened to 1.01 - 1.2222 (21%). Wonder what it takes to set yourself up as an MM 'cos this is almost a licence to print money.

@Ophidian. A BB wouldn't be a BB without unsubstantiated rumour, supposed insider info., conspiracy theories and (though this not so much here so far) a good dose of ramping and de-ramping and even the odd complete nutter :)

I suppose the important thing is that no new shares were issued so there has been no dilution.

@ad2017. You could be right, they paid 2p for 1,500,000 and 1.5p for 2,250,000. I don't know about the others but they were probably issued in 2018. If so then good riddance frankly and that's one less thing to slow the rise in sp when things finally get going.

@Johnny1949. In any case the warrants were exercised on 6th December 2019. I don't know why they are only now being reported as "admitted to trading on the main market for listed securities of the London Stock Exchange plc. ....effective at 8.00 a.m. on 23 March 2020 "

@Johnny1949. I believe that company/accountancy rules mean that if warrants are issued it has to be assumed that they will be exercised and so must be added to the total shares when the warrants are issued.

11,526,650 Ordinary Shares, comprising those created through the exercise of warrants (9,166,650) together with 2,360,000 Ordinary Shares issued to a former Director.
The warrants are how Novum Securites have been paid over the last several years. They were mentioned on p.59 of the annual report.

I pointed out the following to GS, I think just before the AGM. Page number refer to the Annual Accounts.
"p.59 &65
Shares in issue.
p.59 states 158,701,666 shares were in issue at 31st August 2019 and this matches the total at 31st August 2018 plus RNSs of 14/Sept/2018, 21/Feb/2019, 10/May/2019 and 5/June/2019.
p.65 states that a further 42,933,340 (placing 24,360,000, warrants 9,166,650 and placing 9,406,690) were issued post balance sheet events. (NB the RNS 17/Dec/2019 stated 9,604,690)
158,701,666 + 42,933,340 = 201,635,006
But p.6 gives the total as 201,635,666"

Given the situation especially in London I imagine that the MM companies are understaffed and let's be honest I can't imagine that ALGW is anywhere near the top of their list of things to be taking care of. they have probably looked at recent activity and set their computer program to react in certain ways depending on the enquiry that comes through while they are busy elsewhere.

I have no idea if different banks/brokers get different rates. I presume they are all connected electronically to the MMs. I have orders in to buy 100k shares at 1.2, 1.15, 1.1 and 1.0 in case things move while I'm not watching :)

I got quoted 0.85 to sell 500k shares, 1.035 to sell 250k and 1.155 to sell 100k. Looks as if they have a computer program manning the stall :)

@HullFC4ever: I would point you to 2mex's post of last Friday (13th) @ 22.38 and, as it was a 2 parter, the subsequent post as well.

@HullFC4ever. Some of the subsequent buys were also mine. I fully intend to get to 5% :)

@HullFC4ever. No, I submitted one on 17th when I went over 4%. FCA recd their email but GS didn't or missed it. I have resent it to GS so you can expect an RNS imminently.

Spread atm is 1.131 - 1.245 so I bought 100k more shares.

Had a reply to my email with TR-1 attachment from GS :
"Hi Giles,
Noted and thank you!
Received and will get processed. People are working from home so it wont be as instantaneous as before.
Be well.
Kind regards,
Gobind"

For most of the day the spread was 1.13 - 1.30 (15%) for up to 100k shares. For 250k shares it varied between 1.13 - 1.30 briefly to 1.01 - 1.59 so I guess MM's weren't keen to trade more than £1300 at a time. I am surprised that they didn't maintain the bid for whatever quantity as they are short.
Basically nothing happened today, there were only 820,500 shares traded today. When you consider that a busy day for ALGW is 18 - 20 million shares traded and on the 'best' day, 2nd Dec '19 there were 68 million shares traded it puts today into perspective.
I wonder how many shares will be traded when the long anticipated RNS drops?

@HullFC4ever and everyone else on here :)
I'll continue to try and explain my opinion, and it is ONLY my opinion, as to how GS sees things. Caveat: I met with him/sat opposite him on Feb 7th for a couple of hours so I can't claim to know him intimately :) But I don't want anyone here to be disappointed if ALGW don't have a UK based Director or PR company working on 'Investor relations'.
I'll start by telling you something that GS said on Feb 7th when I asked about this very question. His opinion was that he has 'laid out his stall' and you can choose to put your trust in him and buy shares in ALGW or not. We all need to bear in mind that ALGW is basically GS and we need to understand that ALGW will be run by him, his way. He was very clear that he wasn't going to have any unnecessary, in his opinion, expenses in ALGW's balance sheet. I don't think that he views the time difference between the US and Europe as being a factor as ALGW's business is not time critical.
Anyway, don't be too disappointed if there is no news of a UK Director or PR set up :)