Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Published a positive piece on TMT today, can download the article for free when registered. https://www.aimprospector.co.uk/product/20
Also another exit in the bag today RNS! https://www.londonstockexchange.com/news-article/TMT/portfolio-update/15195100
Bargain Shares: TMT Investment’s offer worth backing.
A subscription offer from a venture capital company that invests in high-growth, internet-based companies is worth taking up, but you will have to act quickly.
October 4, 2021
By Simon Thompson
US$18.5m placing and US$1.5m subscription offer at 850¢.
Depositphotos and PandaDoc transactions result in 30 per cent plus revaluation uplifts.
TMT’s management and shareholders forming part of Concert Party subscribe for 598,799 shares in offer.
TMT Investments (TMT:895¢), a venture capital company that invests in high-growth, internet-based companies, is raising US$18.5m through a conditional placing and US$1.5m through a PrimaryBid.com subscription offer at 850¢ a share. The announcement was made as the market closed on Friday, 1 October and the PrimaryBid offer is open until 12pm today. It’s worth buying into.
In the first six months of 2021, TMT reported a 23 per cent rise in net asset value (NAV) from $177.9m to $218.6m (749¢ a share), buoyed by gains on two its largest holdings: global ride-hailing and food delivery company Bolt ($30m valuation uplift to $66.2m on TMT’s 1.42 per cent stake), and proposal automation and contract management software provider PandaDoc ($10.4m uplift to $14m on TMT’s 1.32 per cent). TMT has subsequently sold 11 per cent of its interest in Pandadoc for US$2m, implying a fair value uplift of 30 per cent.
The company has also signed a conditional agreement to dispose of its entire holding in Depositphotos, a leading stock photo and video marketplace, for US$14.3m in cash. This represents a revaluation uplift of US$3.5m (or 32.2 per cent) compared the 30 June 2021 valuation. These two transactions increase TMT’s proforma NAV per share to 775¢. Since the half year-end, the company has also made a further 12 investments worth $13m, and currently has net cash of US$11.2m (38¢).
The placing and subscription offer not only widens the shareholder base, but will enable TMT’s investment managers to take advantage of an attractive pipeline of further investments. The offer is effectively pitched at a 9.6 per cent premium to proforma NAV, a price point that reflects investment managers impressive track record, having generated an eye-catching NAV-based internal rate of return (IRR) of 34.2 per cent over the past five years, and increased NAV per share 675 per cent since IPO in December 2010.
TMT’s shares have risen from 318¢ to 870¢ on an offer-to-bid basis since I turned buyer again 16 months ago (‘On the hunt for recovery buys’, 6 July 2020), and are currently offered in the market at 895¢, in line with the level of my last buy recommendation ('Bargain Shares: On the technology beat’, 24 August 2021). I advise taking up the PrimaryBid offer before the 12pm deadline today and continue to rate the shares a buy.
TMT doing a big fund raise for new investments and PB offer as well
https://www.investegate.co.uk/tmt-investments--tmt-/rns/placing-and-subscription-to-raise-us-18.5-million/202110011630028046N/
https://www.investegate.co.uk/tmt-investments--tmt-/rns/primarybid-offer/202110011636028054N/
I think it is very irresponsible to put out these share price estimates without any back up as to how they are derived. Unless I missed them somewhere, if so, could you please repost? I'd like to see a table of potential revenue streams, profits and where these would come from and some attempt to justify such prices increases.
Please be mindful that there many very novice investors on these boards, some of whom may actually act on your suggestions. We all have an ethical responsibility and this should be something for you to think about. It is so sad to see novice investors lose significant savings on wild punts, especiallyh when there are good risk / reward oppportunities available in the market.
DYOR Do your own research
Thanks for the comment. It seems odd to issue this RNS just ONE day before results due ... it looks like poor planning. Auditors shouldn't be auditing accounts one day before results due to be published. I guess Covid creates lots of delays what with home working etc but ideally this should have been announced at least a week in advance. Any other thoughts? Reassuting to read revenues in line with expectactions.
BTW I am not a deramper. I am just concerned about inexperienced investors getting sucked into complex, obscure investments when there are so many much better investments out there. Makes my blood boil when people accuse someone of sharing valuable information pertaining to a stock of being a "deramper". As if only the "rampers" need to be heard. Sadly, many LSE bulletin board are flooded with rampers and become puerile kindergardens. Each to their own. DYOR X
https://mplusonline.com/blog/serba-dinamik-holdings-bhd-31st-may-21/
From Serba Dynamik wesbite seems that Syed Nazim is STILL the CFO of Serba Dynamik and is now also CEO of Bion Plc. See last sentence. Where did you read he is no longer CFO of Serba Dynamik?
https://e-serbadk.com/personnel/datuk-syed-nazim-bin-syed-faisal/
ACADEMIC/PROFESSIONAL QUALIFICATIONS
Syed Nazim obtained his Bachelor of Accounting in 2004 from the International Islamic University Malaysia. He later obtained a Master Degree in Islamic Finance Practice in 2014 from the International Centre for Education in Islamic Finance, Malaysia. He also obtained a Certificate in Islamic Banking and Finance Law in 2013 from the International Islamic University Malaysia. He is a member of the Malaysian Institute of Accountants since 2007.
WORKING EXPERIENCE AND OCCUPATION
Syed Nazim began his career with KPMG (Assurance division) as an Audit Assistant in 2003. Later in 2009, he joined MISC Berhad as Strategic Planning Manager. Thereafter, in 2012, he joined RHB Islamic Bank Berhad as the Head of Statutory and Management Reporting.
In 2013, he joined Ibdar Bank BSC(c), Kingdom of Bahrain, as Vice President, Financial Compliance and Administration. In August 2015, he joined the Serba Dinamik Group as Chief Financial Officer and subsequently, was appointed as our Group Chief Financial Officer in June 2016.
@ hamodeh82 you say "They have spend so much money and invested heavily in funds and engineering into Bion". Do you have a link to this info? Thanks
Note that the other shareholders in BION are also closely connected to Serba Dinamik as a concert party. DYOR.
Also note:
https://www.theedgemarkets.com/article/serba-dinamik-shareholder-pnb-has-deep-concern-after-audit-issues-raised
Note that the other shareholders in BION are also closely connected to Serba Dinamik as a concert party. DYOR.
Also note:
https://www.theedgemarkets.com/article/serba-dinamik-shareholder-pnb-has-deep-concern-after-audit-issues-raised
Groan ... so it transpires that the non-exec Chair of BION is the CEO of Serba. So not just a question of a 20% shareholder having its shares suspended but BION and Serba are VERY closely intertwined.
Make your own conclusions.
Dato’ Karim, Non-executive Chairman of BiON, is the Managing Director, CEO and 21.7% shareholder in Serba Dinamik Holdings, of which Serba Dinamik International and Serba Dinamik Group are wholly-owned subsidiaries.
https://www.bionplc.com/investor-relations/
Tuan Syed Nazim, CEO of BION, is a 20% shareholder in BION. The close connection between the BION CEO and Serba Dinamik is dislosed as a concert party.
Serba Dinamik International and Serba Dinamik Group are both wholly-owned subsidiaries of Serba Dinamik Holdings Berhad and Tuan Syed Nazim, CEO and a Director of BiON, is an Executive Director of Serba Dinamik Holdings. Accordingly, these parties are considered a Concert Party under the City Code on Takeovers and Mergers.
https://www.bionplc.com/investor-relations/
Just been looking at the Bion Plc website in some more detail ...
This is all public info, have you actually READ the BION website in detail? My big concern is that the current CEO of Bion was CFO at BION's 20% shareholder Serba Dinamik until July 2020, i.e. VERY recently. The investigation is bound to include him as he was the CFO! I mean honestly DYOR. The shares of Serba Dinamik remain suspended today.
I am not deramping, just want to alert people to the risks involved. Volatility on AIM is HUGE as we all know, and opportunities are many. Know and understand your risk profile.
Datuk Syed Nazim Tuan Syed Faisal (D.P.S.M.)
Chief Executive Officer & Executive Director
Datuk Syed Nazim Syed Faisal was appointed to the Board on 25 September 2018 to serve as an Executive Director and became Chief Executive Officer of BiON on 9 July 2020. He has over 15 years of experience in the accounting and banking sectors.
Prior to becoming Chief Executive Officer of BiON, Datuk Syed Nazim was the Group Chief Financial Officer of Serba Dinamik Holdings Berhad – a Malaysian-based investment holding company that manages the Serba Dinamik Group of international energy services companies. Datuk Syed Nazim remains an Executive Director of Serba Dinamik.
Other previous experience includes holding positions at Ibdar Bank in the Kingdom of Bahrain, RHB Islamic Bank in Malaysia and KPMG Malaysia.
https://www.bionplc.com/board-of-directors-v2/
Thanks. To appoint an independent firm suggests that the matter is serious. And thanks for the support in sharing information. It's sad when some people just want to make up their own reality and ignore the evidence. I will avoid for now.
https://serbadk.investors-centre.com/new-announcement.htm?NewsID=202105255000022&Symbol=5279
OTHERS Serba Dinamik Holdings Berhad
SERBA DINAMIK HOLDINGS BERHAD
Type Announcement
Subject OTHERS
Description
Serba Dinamik Holdings Berhad
Serba Dinamik Holdings Berhad (“the Company”) wishes to announce that the Board of Directors (“the Board”) was informed by the external auditors on some matters pertaining to statutory audit.
The Board is in the midst of appointing an independent firm to commence a special independent review to assess the veracity and accuracy of the matters.
An updated announcement will be made upon the finalisation of the said appointment of the independent firm.
This announcement is dated 25 May 2021.
I think wait and see and DYOR. I was seriously researching this company and have trawled through a lot of their RNS, AR and interviews, not that there are many and was considering investing. I will wait and see how it unfolds. Just saying "buyers' beware". I have been sucked into some growth stocks in the past that later collapse and jsut saying DYOR. KPMG have been appointed to conduct an independent review so this will likely drag on. Analysts have downgraded Serba. I would be saying thank you and not weasel, blind faith not the way in stocks!! :)
https://www.theedgemarkets.com/article/analysts-downgrade-serba-dinamik-after-audit-matter-flagged
List of shareholders on https://www.bionplc.com/investor-relations/
Was researching today this and just saw this today!!! Serbia Dinamik is a a Malaysian conglomerate with 20% shareholding in BION
https://www.theedgemarkets.com/article/serba-dinamik-shares-suspended-today
“The board is in the midst of appointing an independent firm to commence a special independent review to assess the veracity and accuracy of the matters,” it said.
Put me off big time ... sounds like coudl drag on for a while. Serbia had been touted as a supportive shareholder by VSA in their video a few months ago ... but this could go blow up badly. https://www.youtube.com/watch?v=FyO6u5XouzA&trk=organization-update-content_share-embed-video_share-article_title
Groan ... AIM!!
Morning note 10 May - Arden's TP is 36p - and check out last para especially!
New manufacturing contract–Open Orphan has announced that hVIVOhas secured a £3m contract with Imperial College to manufacture a SARS-CoV-2 challenge virus, funded by the Welcome Trust. The new challenge virus will be based on new variants of the COVID virus and therefore support future challenge studies to develop and compare vaccines against different forms of the virus. hVIVO increasingly well positioned–The emergence of new variants of the COVID virus, a renewed focus on respiratory and infectious diseases by the pharma industry, the Group’s substantial operational improvements and international pipeline expansion provide an significant levels of activity for the Group over the medium term.
Multiple near term catalysts –The recent announcement of the demerger of certain development assets from Open Orphan provides a near term value event for the Group while other assets such as Disease in Motion, Imutex and PrepBiopharm represent well flagged future value creative assets which should maintain ongoing excellent news flow for the group.
No change to forecasts–This contract represents part of the Group’s targeted pipeline conversion for 2021 so we do not change our forecasts at this time and note that manufacturing contracts of this nature tend to be lower margin and therefore have less impact on earnings than challenge studies. The announcement of a follow on characterisation study should further underpin 2022 EPS.
Investment thesis and valuation -Our valuation for Open Orphan is derived from comparable earnings multiples and we have highlighted on a number of occasions how there is nothing in the valuation for the clinical development assets which yield no earnings at this time and where valuation is somewhat unclear. That said, we have maintained that the potential monetisation of these assets, whether non-coreassets, Imutex or the recently announced Disease in Motion initiative could create substantial upside to our target price, creating strong shareholder value and we are beginning to see this come to fruition.
In their morning update of 10 May: Note the last sentence -- there is subtantial upside beyond 28p. I think it's Finncap's way of saying 28p is a conservative valuation.
Morning Note10 May 2021This research cannot be classified as objective under finnCap research policy. Please visit www.finncap.comor the Research Portal.Open Orphan(ORPH): Corp£3m contract to manufacture COVID-19 virus variantOpen Orphan’s subsidiary, hVIVO, has signed a £3m contract with Imperial College London, as part of a Wellcome Trust funded initiative, to manufacture a SARS-CoV-2 challenge virus based on emerging variants of the virus. This could be used in future hVIVO-run challenge trials to allow direct comparisons of vaccines or antivirals against different COVID-19 variants. The manufacturing process is expected to complete before the end of 2021. hVIVO is currently running the world’s first COVID-19 characterisationstudy, using the original Wuhan-like D614G SARS-CoV-2 virus. We leave forecasts unchanged but with substantial room for upside to our target price of 28p, as this excludes potential monetisation of its non-core assets (HVO-001, Imutex and PrEP Bioharm).
Forecasts and valuation. We leave our forecasts unchanged, which include FY 2021 revenues from COVID-19 challenge studies of £17m. We reiterate our target price of 28p, based on a sum-of-the parts analysis, which excludes potential monetisation value from its non-core assets (HVO-001, 49% stake in Imutex and 62.6% stake in PrEP Biopharm), Disease in Motionand/or development of new challenge models
I've been in Xaaar since average spring 2019. Trading update was fine. This is not a company that likes to overhype. The turnaround strategy is progressing well, despite Covid, and you couldn't ask for much more.
"We have made further progress with product development and testing in Xaar 3D, despite continued COVID-19 related delays, and we continue to work closely with Stratasys to optimise the approach to commercialisation of the product range."
Stratasys, a leading 3D printing company, has a call option (expiring in December 2022) to buy out Xaar’s 55 per cent stake in this operation for £26.4m (34p). Good trading, £20.2m cash and the potential Stratasys cash windfall if it exercises its option provide very good support.