Member Info for phenomenonnick

Yes I’ve had lots that are 3 months or less. That said the timing of the suspension on this one has clearly been forced on the board by Edi Truell running his mouth to a journalist, so it isn’t entirely ready to go. Hopefully the Truell family will make up for this by not arguing too much about the small print of the deal and letting the board do its job to get this over the line quickly.

PROPS - I see fellow Peterhouse client Sabien is suspended this morning ahead of a planned RTO. It was the last stock they introduced me to before the RLD placing, so let’s hope we’re next in line here!

Razel you’re surely joking? Have you seen the interims? They need to quintuple revenues to break even. Not a chance the next news will say they’re profitable. They have a while yet to file full accounts. I’m guessing the challenge will be convincing the auditors to agree they’ll be a going concern for at least 12 months given the rate they’re burning cash. It’s possible they’ll make it but I think it’s unlikely without a further fundraising.

No worries Chimers, I guess I don't mind saying publicly what my prior involvement with Peterhouse has been. I've been with them since May 2019. So far a 100% track record. Thanks to them I'm in Sabien through their recent placing (currently up 25% in months) and MWE (up 40% or so) which wasn't a placing I just bought in the open market, they're clients of Peterhouse and they suggested I might like their business, which I do. Former holdings (naughty me, daring to sell shares bought in a placing) are MOS (where I had a chance to sell for a 40% profit and they were clear they might have to suspend, as indeed they then did, so I thought better to bank the profit) and I put quite a lot into BIDS in their placing back in May - still got a few which are now a bit below the issue price, but sold most at 1.5x to 3x what I paid. I turned down a chance to take part in the ANIC fundraising through them as I already have quite a bit there which I bought off my own back at 9p and was disappointed in its progress, but I note that if I'd bought off Peterhouse at 5.5p I'd have doubled my money in a few weeks). I also hold a significant stake in PIRI which is way too cheap and is a Peterhouse client. As you can see from that lot I don't have much experience of other brokers but I've got no complaints so far. I lost money in 2017 and in 2018. In 2019 I made 67% on my investment portfolio and the single biggest effect on that was the things Peterhouse put me into. Took my 7 year average back to 22%pa which I'm happy with.

The opportunity to buy shares at 0.1p and Peterhouse.

I'm a new investor here. I put £10k into the placing so a fair share of the new money, and gets me about 1% of the company. I haven't forward sold and I don't think it's possible, at least for me. I think the reaction is a bit harsh - the company is now valued at less than it was on Friday even though it has more money than it had on Friday. I don't really understand the strength of feeling on here in either direction. There's a lot of noise about such a tiny company. RLD is a cash shell, bit of a punt, nothing to get angry about or stick too much cash into. The market cap is clearly higher than asset value, but the listing has value, Peterhouse seem to have experience at using cash shells to launch new ventures, they've got me and others to back it. Due diligence etc costs money and you need to be able to focus on the deal and not worry about running out of cash halfway through. I'm excited to see what this turns into.

I make it £1.4m market cap at the mid price. Cash £2.2m. SVV stake say £1.2m after one investment exits assuming no other changes. Eco £0.5m. Should be north of £4m with other bits and pieces. That's 6p per share, of which more than half in cash. Incredible value.

Amarkal - I guess I missed the positives!

garykc - don't the directors already own about 70%?! Surely little point being a public company if they buy any more shares!

Dino ken - you’re allowed to idolise your daughter, as any father should. But unless she’s Nicola Horlick you might want to think twice before taking her investment advice.

This sector is for the majority of the population who eat meat.

Lol, you’re deluded. It’s positive but relatively minor I’d say. They ought to do a convertible loan to raise cash for acquisitions without being too dilutive.

True but it’s losing £300k a year, that needs funding. Still, I assume it saves enough in developer time to be worth it.

Dino I suspect the market is more in the 99% of the population who aren't vegan. As land costs increase and as the environmental cost of food production becomes ever more a cash cost, the cost of production of traditional meat is likely to rise. Give it time, there's no reason to think this stuff won't be cheaper than the real thing. Like Quorn but actually tasty.

I run an audio visual business which has been going since 1960. Did a masters in flat panel displays in 1996 when the first commercial colour plasma screen came out - and sold as fast as they could make them, at £7k, then about 15x the price of a normal TV. A couple of years earlier the prototype would have been £100k+. What's been developed is a prototype sausage. Give it 3 years and they'll be a tenner a sausage. A decade after that, and they'll be completely normal, hardly anyone will buy the old kind of sausage anymore.

Well unlike last time this particular Placee won't be investing!

Hmm - article from the Australian Cleanmeats site from 13 June, so five weeks ago, says "Unlike other cell-based meats, BlueNalu won’t use animal serums to grow its fish, but has come up with an "animal-free" alternative, Cooperhouse assured at the conference."

One part of that is future tense, one is past tense. But does imply it's done.

I think it was their CEO talking at a conference. From one of the slides on twitter looks like commercial manufacturing starts in 2023. Not sure how that compared to previous expectations.

Rocker are you overlooking the 90m shares that got issued last week? Now 113m in issue so at 20p market cap would be £20m.

That said the current £10m market cap is half backed by cash, so that's at least as significant as the Blue Nalu investment. Clearly it's a premium to net assets, unusually for an investing company - hopefully justified by the top notch board and the challenge of investing in the sector as a PI. I've got a little bit in here in the hope it's awesome.

Gotcha. Thanks. I'll leave this one to the day traders then!

Really? From the chart looks like it went from 2.3 to 5.1 - that's less than 100% up given the spread. But I take the point. I'm not that kind of investor though - given the state of the underlying "business" and the track record here the risk/reward isn't for me.