Member Info for Morbox

happening in june, from *************interviews yesterday.

“ ilika plc has confirmed that it will exhibit at the battery show europe, taking place from 9 to 11 june 2026 at messe stuttgart. the event is one of the largest battery-focused exhibitions in europe and brings together manufacturers, automotive groups, materials suppliers and technology developers across the electrification value chain.”

https://www.***************************/ilika-steps-up-commercial-engagement-at-stuttgart-battery-industry-gathering/4121241464

Agreed on density, but what we know now, and hopefully what the future may bring.

P1 prototypes (shipped starting July 2024): Achieved lithium-ion parity at an effective energy density of 250 Wh/kg (gravimetric) with ~0.715 Ah capacity. This was the D4 milestone.

Development roadmaps and case studies: Target 350 Wh/kg for first commercial product (e.g., modeled in pack analyses vs. high-end NMC Li-ion at ~293 Wh/kg, enabling ~16-20% lighter packs). Longer-term theoretical potential up to ~500 Wh/kg.

10Ah prototypes (shipped December 2025): Represent a significant scale-up (5x capacity from 2Ah P1), with reports of >50% increase in gravimetric energy density over prior generations (implying improvement beyond 250 Wh/kg, though exact current figure not publicly pinned in latest releases). Manufacturing yield hit 93% on the automated pilot line.

LSEG, (I hold after AI drop) after buy back after increase their div today buy 15%. Oh, Man’s CFO stated that they are in partnership with Anthropic to develop in-house AI productivity solutions.

After a quick look, happy ish. The CFO has just been on Bloomberg TV. Shame no div increase, but I suppose they see the buy back this financial year as a return. Let’s see what the market thinks at 8:00.

I’ve added to my position this morning at just over 124p. The AI story here, imo will help. Are you going as a company to rely on AI for your internet security! The news article today summed it up.

Also on the decline, cybersecurity services provider NCC fell 4.7%. Swissquote analyst Ipek Ozkardeskaya said cybersecurity firms got caught up in the "AI anxiety trade" at the end of last week.

"On Friday, cybersecurity software companies took a dip in the chilly water after Anthropic introduced a new tool that 'scans codebases for security vulnerabilities and suggests targeted software patches for human review'. CrowdStrike and Cloudflare fell 8%, while the Global X Cybersecurity ETF fell nearly 5% and closed at its lowest level since November 2023," Ozkardeskaya added.

Https://www.londonstockexchange.com/news-article/NANO/shoei-litigation-update/17471384

Just stating Apple involved. Making it clear on the no impact of potential settlement.

IMO after a quick scan, good, however lets me what the market thinks.

Just to say tried out the AI on their website, shame it can’t interact with old quotes yet!

“ Accessing home insurance quotes through MoneySuperMarket

I can't directly access or view your personal home insurance quotes. However, if you're a MoneySuperMarket SuperSaveClub member and bought home insurance through us, you can log into your account to check your details.

All week Bloomberg TV had people on saying that the AI impact is premature and that software companies will take advantages and be more efficient in this new environment. Same with other companies, just look at the Internet, did that have an impact, well yes a positive one, I would say to everyone. Technologies change companies and people adapt, and from a share price point of view more productivity, higher price!

I use AI daily, as a tool for research, understanding that it’s a tool not a replacement for common sense. Same here people will use it comparisons but in the end you are going to need companies like Mony to bring the information together for common sense opinions. As I said earlier on the month Mony will adapt, as it looks like they have started on that path. Anyway let’s see what Monday brings.

Err Donut Lab‘s didn’t have one real example at CES 2026 just 3D printed shells.

Some info on ownership

Spire’s property portfolio is the "crown jewel" that is driving the current takeover interest. They operate 38 hospitals, and as of February 2026, the ownership is split into 19 Freeholds (Owned) and 19 Leaseholds (Rented). 

Because these hospitals are often held in separate "PropCo" (Property Company) subsidiaries, Spire doesn't always advertise the status of every individual site on their patient website. However, based on financial filings and recent real estate transactions, here is how the portfolio breaks down:

The "Owned" Portfolio (19 Freeholds)

These are the assets Spire holds "unencumbered," valued at approximately £1.4 billion. Key owned properties include: 

• Spire Claremont (Sheffield): Acquired relatively recently (2021) and held as a freehold asset. 

• Spire St Anthony’s (Cheam/South London): One of their flagship cardiac and complex care centers, confirmed as an owned asset. 

• Spire Manchester & Spire Nottingham: These were "new builds" commissioned by Spire itself around 2017, meaning they own the land and the state-of-the-art buildings. 

• The "Core" Legacy Sites: Most of the original 25 BUPA hospitals that Spire was formed from in 2007 were freeholds. While some have been sold, the majority of the "19" come from this original high-value group.

The "Leased" Portfolio (19 Leaseholds)

These hospitals are operated by Spire but owned by third-party landlords (mostly Real Estate Investment Trusts like NorthWest Healthcare or funds like Malaysia’s EPF).

• Spire Cheshire: Formerly owned, but sold in 2022 for £89 million in a "sale and leaseback" deal.

• The "EPF 12" Portfolio: A group of 12 hospitals (including sites like Spire Southampton and Spire Lea) are owned by the Malaysian Employees Provident Fund. These are currently the subject of a massive £1.3 billion secondary sale to Blue Owl Capital.

• Spire Worcester (Worcester Six): This is a purpose-built unit occupied under a long-term (20-year) lease. 

• Spire Tunbridge Wells: Notably, the operations of this site were sold to the NHS in 2024, removing it from the private portfolio count.

Laura2022 just a target of regret, regret not selling at its highs. Personally, I think it’s worth more, but I said that with so many other takeovers! Last one Equals (sold on the cheap!)

I do hope so had a small holding since 2018 (paid 188p) add a few 04/2020 at 81p and added more since the news, my target is 265p but of course higher the better!

Grok again!

In the world of UK mergers and acquisitions, an extension to the "Put Up or Shut Up" (PUSU) deadline is statistically the most reliable indicator that a deal is actually going to happen.

While the UK Takeover Panel doesn't publish a single "success percentage" official report, historical analysis of the last 5 years (2021–2025) of mid-to-large cap takeovers shows a very clear trend.

The Success Rate: ~75% to 80%

Based on market data from major UK takeovers over the last five years, roughly 75-80% of situations where the target company grants a PUSU extension lead to a firm offer.

Shatter, agreed mainly AI reporting.

Grok gave me this

What is it worth?

The valuation of Spire’s property is currently a hot topic in the financial world, especially with recent takeover interest from private equity firms. 

• Book Value of Owned Property: Spire officially values its 19 freehold properties at over £1.4 billion. 

• The "Value Gap": Interestingly, the company’s total stock market valuation (market cap) has recently hovered around £725m – £850m. This means the physical land and buildings they own are worth significantly more than the entire company's current share price—a "hidden value" that activist investors are currently trying to unlock. 

• Replacement Cost: Some analysts suggest that to rebuild these 38 hospitals from scratch today, it would cost upwards of £2 billion to £4 billion, given the specialized nature of medical theaters and diagnostic suites

Just over a week before results!

Yes happy to see div target has been held, shame about the share price but after the next div payment, I’ll be just breaking even again. Hopefully an up tick to get closer to Nav.

Short lived, but will add again around the 7000p if it gets there.

Up up and away

https://www.marketscreener.com/news/activist-investor-elliott-builds-stake-in-lseg-person-familiar-with-the-matter-ce7e5addd88dfe22