Member Info for Silverblade

In the medium term (possibly even short term) todays price will be seen as a good one Guitarsolo - sadly for me my average here is c.£1.40. I bought as a defensive, decent yield stock and didn't see such a large discount emerging. Barclays raised INPP target price to £1.43 last week in a general sector upgrade - although it did cut HICL (£1.40) and BBGI (£1.35) at the same time. Over at Gravis (GCP) price is so low its tempting director buys today. SB

Never mind a Santa rally Guitarsolo - this is more like a Satan rally. I hold a few investment trusts - INPP, GCP, GABI - aware of BBGI and HICL as alternatives. I always believed INPP had a decent portfolio and certain assets were undervalued on the balance sheet - they own some hefty positions in business which have not been revalued in years. And yes the inflation link and hedging positions are meant to maintain income streams and yet the investment managers continue to hike up discount rates in a 'low' inflation environment and blame gilt/bond/interest rate pricing. Its a sector wide issue - no one is escaping - and fund managers appear to continue to reduce exposure. Investments managers get their 1% fee on NAV AUM - so where's the real incentive for them to address the NAV discounts - accepting this is not of their making - but sooner or later it becomes questionable on the long term viability of such IT's if the market continues this way. SB

Spot on oogle. Until the failing primary care system is addressed (and specifically the GP crisis) we will continue to go backwards in managing population health risks. The NHS needs a fundamental shift in how it delivers care - and that conversation should include early diagnostics; suitable drug interventions; private sector capacity; and big pharma. The time for a grown up conversation has long passed - its never too late - but far too many people enter the system at the point where they require such a level of resource the scale overwhelms the NHS both in terms of staffing and budget . SB

Seems a bit ironic that after last xmas reached a relative high that this year is the complete opposite. Dreadful performance but broadly reflective of where UK plc is at the moment - up the creek. SB

Its pretty grim here that's for sure oogle - and those small 'automatic' bot trades certainly don't help. Neither does large scale selling - 4.4m sell trade on Wednesday raised £1m - reminder that money is continuing to be pulled out the market. Add in general market malaise, time of year, no dividend and a waiting game to see if EKF has actually turned a corner then the net results is no interest in shares - even at these depressed levels. Julian Baines - still exec chairman here - gave a very upbeat interview on RENX on vox markets in his newly appointed role. Perhaps similar required here in New Year alongside a hopefully positive trading update. SB

Looks like imminently meant immediately after all. 500K shares purchased by gravis yesterday at 70p. At least they recognised the damage done in mismanaging market expectations. Hopefully more to come - NAV discount is sector leading and as much as current dividend yield is attractive the 35% asset discount is frankly embarrassing. SB

Dartron - dividend payments are covered (just) through actual earnings (loan interest); its the asset write downs that reduce earnings/profit for the year and make dividend stream appear precarious. Doesn't help that Gravis as investment managers get paid £11m for a below average service imo and another £7.5m out the door to service debt - so sooner RCF gets repaid the better to give a bit of headroom. SB

Perhaps ToD but this could have and should have been handled much better from Gravis - simple, regular factual communication is not exactly difficult - instead they have spooked the market with vague timeframes and introduced a lack of clarity on the capital return. They should have known this would be greeted with disdain and announced a share buyback immediately - not imminently. Doesn't instil much confidence in the investment manager. SB

That's 100% incorrect Pharmhall. The purchases made on 10th Dec are all in addition to those made in the previous few days. Fully entitled to have a downbeat assessment of these purchases but don't mislead. SB

Feeling a bit shafted here. To wait until two weeks before end of year deadline and then casually announce they have failed in their 2024 capital realisation programme, pushing back returns into 2025 and then imply proceeds will be used for share buybacks.,,,,poor. Very poor. SB

Results are not late - 11th Dec was a predictive estimate - last two years results were on 13th and 15th Dec. SB

Howard Doran, Renx President, picked up 50,000 shares yesterday. He is in overall charge of test sales.........SB

Indeed! Interesting week ahead - results and an expected update on disposal programme. £120m target to be raised - with £57m (£45m net) allocated to repaying RCF - could there be a higher capital return to shareholders than the ‘minimum £50m’? SB

Although the amounts are small - it does send a message that our CEO and Executive Chairman are supporting the price at these levels - and now hold 3.2m and 1.8m shares respectively - about 1.5% of the share capital albeit at a rather depressing valuation. All the messages from the business recently have been positive - and I agree there are signs that finally we are about to see some sales traction - taking into consideration that we are now almost through Q2 2025 and management will have a reasonable understanding on volume going through the labs. GLA. SB

Looks like Julian Baines has looked to strengthen the board - until recently he sat on the board of Intuitive Investment Group where newly appointed RENX non-exec Robert Naylor is CEO; and they also have prior experience at EKF. RN also a director at NIOX - another of the Mills/Harwood stable - which after a few tricky years has now emerged as a leading global healthcare business in asthma treatment. SB

Things could get a lot worse....look at RENX stablemate VRCI. Also raised at 9p and has been hammered into ground - now has a market cap of £7m. Both companies at forefront of CKD treatments but unable to show any meaningful sales. Both company's funded through 2025 so they have time. Doesn't help that AIM is a retail investor disaster zone. SB

I'm not so sure UBS were in and out. Their initial RNS was for a 5% plus holding (16.8m shares) - with the subsequent RNS issued with the following caveat "UBS trading book holdings in Renalytix PLC fell below 5% and are therefore exempt from reporting". Which is not 100% accurate - major shareholders are required to declare with a 3% holding. Based on daily volume in the time period I don't see how they picked up 16m shares and sold a couple of days later - more likely they picked up placing shares and as such are subject to lock in provisions for the majority of their holding. As for where we are - its now just a waiting game to see if they can get sales traction over rest of 2025 trading year. Anyone's guess as to what happens in the meantime - market cap is still 100%+ higher than its multi year low of c.£10m. SB

Thanks for posting superlac. Nothing unexpected although lots of detail to go through as usual. I was looking for Q1 revenue of $600k - so missed by 10% / so still need evidence that the claimed (and forecast) quarter on quarter growth is actually being achieved - at some point very very soon they need to produce the numbers to back up the plan or it’s just prolonging the inevitable. SB

Doesn't exactly fill me with confidence that they have had to request a delay in submitting their Q1 financial report. I am taking another leap of faith (goodness knows why) and putting it down to the new executive chairman taking a forensic interest in the numbers before he signs off the statement. SB

Checked with the company and they confirmed they are 'required to submit and file 10-Q quarterly reports with the SEC with the next report to be filed very shortly'. SB