Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Hmm - interesting - so does this mean someone has recently had an order to sell a large holding at 5p, and the MMs have just managed to close it out today, on the back of the promising RNSs…?
If so, and the blockage has been cleared, we should see a much less inhibited SP movement over the next few days, right??
OD - is that meant to be a metaphor for SEED? It’s raining, but we may as well leave the washing on the line because it’s just a waiting game until there are rays of sunshine… (according to the “weather forecast”, at least)
The modern name O’Donnell derives from the old Irish spelling “O’Domhnaill,” which translates to “descendant of Domhnaill.” Taking it a step further, the root words of “Domhnaill” are “domhan” (translating to “the world”) and “all” (which means “mighty”). The name O’Donnell literally translates to “world mighty” or “world rulers.”
https://www.shamrockgift.com/blog/odonnell-irish-surname/
I posted this a while back… re Ed’s £50m:
https://www.investormeetcompany.com/investor/meeting/seed-innovations-annual-general-meeting
Full video still available if you're signed up (free). It's worth watching from about 50mins in. Precise quote is at 54:10
OD, are you confusing Ed's comment about having a NAV of £50m, with the idea of a £0.50 share price...? I'm not aware of anyone being quite that bullish in the short term.
(Usual reminder, Ed was talking about NAV not SP, when he said that by the end of the year, he wouldn't swap all of SEED's assets for a £50m cheque. This is often misquoted on here, that Ed "promised a SP of 23p by Dec 21")
Yep yep - it was endorsement, if anything.
For what it's worth, though: there was also £150k into SW Brands since Sept as well. (And Fralis is € not £, but suspect that's a typo.) I had balanced my cash to £2m in Sept, so might have unfairly knocked £48k off, but have included their running costs and bonus. The result is only just shy of £1m...
Matador - good to know you're keeping an eye on the dynamic duo! Even though I'm probably young for this BB, I hate Twitter and Telegram etc. - even though I can see the benefit. I often feel a bit out of touch with their next direction... although when I heard about Ed's salary rise and bonus, I didn't think "they're all corrupt", I thought "wow - he must be cooking up something really impressive behind the scenes, because remuneration committees don't just hand out cash from an exhausted cash balance willy nilly!"
Midas / Markjenn. This is collaboration, not competition, but my calculated NAV is 10.63p as of yesterday.
This takes into account:
- all recent investments / implied valuations, such as Eurox, with adjustments to cash balances
- running costs per month at £65k (since Sept, when I had a rec'd cash balance) + Ed's bonus this year of £15k
- accrued interest on loan notes
- any listed share prices and relevant exchange rates
Note, if my calc's are correct, the fund has less than £1m cash for emergencies. I'd assume this implies Leap will be sold soon, rather than there'll be a raise.
If Leap is worth £50m (total company value, not just our share), then our NAV / share is 17.5p. If Leap is worth £100m, then our NAV is 28.9p
Workings attached. I've tried to strip out any personal details, but if you discover some - please keep them to yourself!
https://we.tl/t-DwNxDHr9p8
Thanks for posting your NAV calc earlier. I’ve been meaning to update mine. Do you include accrued interest on the CLNs in your workings? We’ve got a year’s worth accrued since the last published stat accounts, on a good chunk of the PF, at decent rates. Wouldn’t be surprised if we were still North of 11p (before the upside on Leap, Northern Leaf etc.)
Yeah - I think I’m just a bit bitter about new holders! I’m still at an average of c. 8.5p and can’t buy more. I sold everything else, got shedloads of SEED and some pre-IPO CLNs in Northern Leaf, and I often wish I’d just bought some magic beans.
JK… are you saying that if a stock is undervalued, it’s a good investment regardless of whether you already hold it?! That’s like saying that if you’ve flipped a coin and got Tails twice, you’ve only got a 50% chance of getting Heads next. But that’s nuts!!
I’m absolutely sure O’DONNELL is a lovely older gentleman, caring for his wife despite his own disabilities… modestly looking forward to the next Wetherspoons trip while ploughing £’000s more into the pension pot… BUT if I were at all cynical, I’d say his messages on here show a lot of the tendencies of a troll.
(Usually he just has a “modest holding” - although as a proud LTH, never admits to any selling, and regularly declares a top up - now being sat at a c. 7p avg, right? There’s an odd mix of modern insights, occasional tropes of older writers, and bizarre gaffes, eg. In a discussion about Vitality’s results if they were making a £5 net profit per unit, O’Don reminds us to deduct overheads and marketing from that - net - profit?! Or saying that, per his reckoning, 97.5% of holders would support an immediate sale of Leap “at the right price”?! He does love Mat à d’or, though, so he can’t be malicious.)
I didn’t understand today’s finger-pointing at Adam (who clearly still holds), nor today’s refugee comment, nor yesterday’s hubris comment. Is this designed to make all SEED investors look like loons?!
Sigh… I normally don’t let it get to me. Obviously, Mr O’Donnell, my sincere apologies if you are indeed as straight as a die and all that. 97.5% chance you are!!
What are you all talking about?! How is Leap a clusterfunk? If an experienced fund manager delays an IPO, it’s probably because his waiting yields more value. If Ed had sold Leap earlier, what would he have spent the cash on? More LGP? It’s cheaper now. Ed is working for the fund, not short term traders. How many major deals has Leap secured over the 12 months in which Ed hadn’t flogged it off cheaply?? Is it three or four? Preparing a company for an optimised sale / IPO can easily take a year of reconciling spend to IP rights, novating licence agreements, getting recognition… then identifying investors and demonstrating value / synergies to them. It sounds like the audits are done, though, for what that’s worth.
Baldmare - how was that what you took from Ed’s interview?! The value of Leap is in its IP and its deals already in place. The Kyiv team are not only all OK, but they’re being relocated to European offices by IMG and are still creating new content at 70% of their non-wartime target. This doesn’t affect IPO timeframes except for the general risk appetite of the market - but the delay has been in getting three years’ of Maltese accounts audited. You don’t set up your company in Malta because you want to keep meticulous records and have auditors on site all the time - so it’s taken a while. Personally, I think everyone expects IMG to buy us out of Leap, but we’ve got to make the bluff of an IPO look credible in order to get a good price from IMG, who could otherwise be pretty pushy. Why don’t you find someone from Leap Kyiv on social media and tell them we’re all bloody proud of them.
You see, Barwy… people DID start buying yesterday, as soon as they realised they were probably supporting Ukrainians who have had to sell their shares in SEED. Sometimes you’ve just got to have a bit of faith in people. We’ll be back at sixes and sevens again soon.