Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
RTW NAV looking strong, a couple of detailed posts on the Arix board.
FYI A quick scan of RTW's listed portfolio top 6: change from 1 month ago according to Google Finance:
RCKT +21.99%
IMCR +32.47%
CRGX +4.00%
MIST +12.05%
OBIO +22.11%
APGE +29.34%
Https://www.londonstockexchange.com/news-article/RTW/monthly-valuation-update-november-factsheet/16251440
RTW NAV $1.65/share, up 11.9% vs last month
RTW SP(Bid) $1.24
RTW Discount -25% (12 month average -23.4% according to HL)
Deal calculation:
$1.24 x 1.4633 x 79p/$ = 143p
I think the big RTW NAV increase is plausible, as the whole sector seems to be improving at last. E.g. their portfolio company Immunocore is up 32%:
https://www.google.com/finance/quote/IMCR:NASDAQ?window=1M
If this continues, then despite being unhappy about the principle of the deal, the rational investor in me might be voting in favour.
Https://titanam.co.uk/turning-nuclear/
"To summarise, high demand, driven by pragmatic clean energy aspirations, and growing financial interest in the sector is on a collision course with a long-term structural supply deficit, complex logistics, and escalating geopolitical tensions. We think this will drive the price of uranium meaningfully higher over the coming years. Uranium prices can rise to the prior high, around $150 a pound, or closer to $200 a pound on an inflation adjusted basis."
And SPUT up ~5%
https://www.google.com/finance/quote/U.U:TSE
Tomorrow should be interesting...
Https://seekingalpha.com/article/4657302-yellow-cake-trades-with-a-12-percent-discount-to-nav
Not sure why, but the whole article seems to be here:
https://ca.movies.yahoo.com/movies/uranium-investor-appears-sweet-spot-060000156.html
Found by mrnumpty on advfn :
https://www.telegraph.co.uk/money/investing/stocks-shares/uranium-investor-yellow-cake-resurgence-nuclear-power/
"
Money / Investing / Stocks & Shares
This uranium investor appears to be in a sweet spot amid a resurgence in nuclear power
Questor share tip: the company has been buoyed by higher prices for the radioactive commodity
Russ Mould
12 December 2023 • 6:00am
Last week’s first-half results from Yellow Cake read very well, as net asset value shows healthy gains, buoyed by higher uranium prices and well-timed additions to the company’s stockpiles of triuranium octoxide (U3O8) in its specialist warehouses in France and Canada...
To continue reading this article ...
"
Doing the rounds :
https://www.youtube.com/watch?v=CEi1puNbLDM
Here's the bit visible before the subscription barrier comes down:
"
BUSINESS COMMENTARY
Thorny case for Arix chief to answer
Alistair Osborne
Tuesday December 05 2023, 12.01am, The Times
Corporate deals throw up all sorts of governance questions. But here’s a simple one: should a chairman be more obviously independent before he recommends a transaction that discriminates against three quarters of the shareholders?
It’s the puzzler raised by the delightfully named Peregrine Moncreiffe of that Ilk, the mullet-coiffured Scottish clan leader atop the board of Arix Bioscience. A month ago, he recommended a deal that flouted a crucial tenet of UK corporate life: that all shareholders must be treated equally. Moncreiffe endorsed the sale of all the group’s assets to a rival life sciences investment company, RTW Biotech, saying the transaction was the “best outcome for Arix shareholders”.
Well, maybe for one of them. Under the terms, RTW is buying out Arix’s biggest shareholder
"
And another :
https://www.thetimes.co.uk/article/thorny-case-for-arix-chief-to-answer-p7xgbm6zs
(And again ohisay on advfn has provided an extract for the unsubscribed.)
Hi Oldnbald, just wondering if you'd considered Arix? I assume you're aware of the proposed merger? (See ARIX board for details - and the reaction!)
Yes, RTW is now more or less back to the price used in the the 'indicative value' calculation. If only the exchange rate could also revert* then this might not look quite such a terrible deal. Like others, I'm surprised that the market isn't seeing what looks like an obvious arbitrage opportunity.
* Now ~78.8p/$ whereas they used 82.5p/$ which was something like a past month average at the time.
Detailed Justin Huhn interview yesterday :
https://www.youtube.com/watch?v=yQgOaCYVC5k
Another article today, again spotted by ohisay on advfn:
https://www.thetimes.co.uk/article/arix-bioscience-boards-caribbean-meeting-left-shareholders-flabbergasted-gnxn539zp
"
Arix’s Caribbean meeting left shareholders ‘flabbergasted’
Alistair Osborne
Monday November 20 2023, 12.01am, The Times
An Arix Bioscience board meeting was arranged at a luxury hotel only a few miles from the holiday island of St Vincent
The under-fire chairman of Arix Bioscience held a board meeting in the Caribbean, despite the investment company having no business interests in the region.
Peregrine Moncreiffe — whose contentious deal to sell the life sciences specialist’s assets to RTW Biotech, a rival, triggered the immediate resignation of Peel Hunt as Arix’s joint-broker — chaired a board meeting on the island of Bequia. The outpost, covering only seven square miles and located nine miles from St Vincent, has been dubbed “the Caribbean’s best-kept secret” by Forbes magazine.
Held in February last year, the meeting took place at the luxury Bequia Beach Hotel, a five-star resort where beachfront suites cost $620 a night. The hotel’s publicity speaks of a resort set in “ten acres of beautifully landscaped
Continue reading
The Flash Sale.
£1 for 4 months.
Ends soon.
"
More cut&paste on advfn...