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If thats what happens I'm ok with it. This company is about federated wireless for me and i was always going to buy back with any divi. Spin Memory and BridgeComm are also superb in the own right. Doing a share buy back gives me a larger stake in all this tech that is going to explode in the coming months, particularly the CBRS space. Now with woody gone etc I think we will have an interesting few weeks and months ahead of us!
still sloping around today.
I wonder when we should receive the outcome of the EGM, according to circular it commenced at 10am.
“ More than 17% of shares in Allied Minds have been sold this afternoon at 47p. These shares were formerly managed by Woodford Investment Management. In January 2017, the share price was 470p.”
Wow - 1.5m trade, that explains the last few days as well, worked buy.
Good luck all!
Not a single trade logged yet a price monitoring extension at 12:02?? Anyone any ideas?
Looks like a large trade being matched by the system in lots of small bites. Any ordinary trades that go through seem to pause the process for a while, it then kicks off again. I was guessing that it could be a share transfer but i cant work out for the life of me why do it this way rather than as a NT if thats what it is. (Must admit I don’t fully understand how the system works so maybe someone more experienced could speculate??)
Something going on?
Great link, thanks Giggs - to be fair to Woodford (but don't get me wrong I'm not a fan), his investment in ALM was sound, give it another few months and he would have been proven right on this one. I have wondered if he could also be a possible buyer from LFS with his own money of some of these companies that the fund(s) were invested in, if not only to prove a point in the long run... I can't imagine he'll throw the towel in.
and that's at the current development / early role out stage. give it a few months and once it is under full steam I genuinely believe you can move the decimal point 1 place to the right on the valuation - there is too much money and interest in CBRS for us not to benefit hugely from FW stake in it. ... I mean seriously they are in bed with, Cisco, Ericsson, google, Intel, Nokia and Ruckus on it (+ other huge names) : https://www.cbrsalliance.org/about-the-cbrs-alliance/
Although i’m guessing LFS will vote for the sale of Hawkeye, AM bod must have assumed it was in the bag prior to the transfer and now they cant be sure, something a little satisfying about that and shows that once those shares are in better hands (hopefully CA or another active investor) then they are going to be under alot more scrutiny- they've had it too easy for too long (id really like CA to get them, they have a good approach and work for their funds... unlike some!!).
Id still like to know how AM intend to spend the other 50% of the sale (or whatever is left once these crazy bonuses get paid). Nice divi coming though
Hi Scoutt, not quite wrong as Woodford has reduced his stake but I think quite a few people (myself inc) thought there had been a sell / buy yesterday afternoon of the lot, but it looks like the shares have been transferred to another owner / manager rather than sold / bought (look at the box that has been ticked in the TR1). Quite a few of the woody stocks had this happen (check out PFG, HVO, etc) - I haven't seen any confirmation as to where the stock has gone, but presumably to Blackrock. I assume it was done so quickly to take it away from the funds 'sphere of influence'. reading in the press Blackrock will take care of the liquidation of the shares in all companies - presumably this includes finding bulk buyers and I assume / hope that will be the case for ALM. If BlackRock can't shift shares in a given company in bulk I guess they will ultimately look to place in the market, if this were the case I'd like to think it would be done sympathetically to the companies involved which would also likely give a a higher return but take time, I suspect it'll be a 'fire sale', cash is king and all that and Blackrock are ruthless so and so's. If everyone follows the rules we should see another TR1 anytime telling us who has the shares now... (There is that much focus on this whole fiasco that I would expect the rules will be followed).
Think there are a few twists and turns to come yet, but either way the price of AM will settle at a more fair valuation at some point once all this mess is over....
Nope, i’ve no idea at all and its unlikely ALM will make any comment. That said, that may not be a bad thing for once as may mean they are involved (here’s hoping), also I notice RB hasn’t said anything which I am at the moment taking as a positive as he’s normally vocal on major news impacting us....
I hope the shares are bought quickly to settle this otherwise the MM are going to have a field day in the coming weeks as they will with all the woody stocks. At the end of the day, ALM is now hugely oversold imo and the value remains regardless of the woodford fiasco, just need to ride it out for a little longer...
Well I would support that too
Well i like simple math when it comes to my investing. We currently have a mcap of around £111m and we’ve got a buyer for hawkeye at around £52m (~$65m) which theoretically would value the rest of the portfolio £59m based simply on mcap (and exc the cash position which is around 80% of that if I read the latest report properly) which is absolutely bonkers , fed wireless is already worth multiples of that (many multiples in mine and a few others opinion). Great op but where is the bottom for max return, trick is not to be greedy for a couple of % and miss the entry I guess... at this price you’re going to get roughly 25% of your stake back on the hawkeye divi!
Roughly 52m according to last woodford tr1, but i personally cant see that being put onto the open market for PI’s to get at, the mcap vs NAV is already unbelievable, dumping that amount without a buyer would surely (but temporarily) floor the price and hardly be even a half reasonable return for the woodford fund investors but would present an amazing buy. My thoughts are there is a mexican standoff between a few II’s waiting to time woody out to get price as low as possible then see who moves first to take his stake. Wish i had more funds, especially at the moment as ALM is off the map of the ‘herd’ and fomo group and only being watched by those who have researched... interesting but painful to be a holder at the moment, but once he’s gone we should be all good as fundamentals are sound
Looks like some light at the end of his involvement, hopefully someone going to take his ALM holding off his hands soon and free the company ...
Thanks Giggs and good post Scoutt, i worry the same but like you and im watching what CA’s next move is with interest, im not sure he would take all of woody’s stock but then who knows, id been thinking maybe a joint buyout of woody between CA and ALM. Id sooner see the hawkeye profits be used for this than line woodys pockets with the divi. Maybe the timing of the sale is strategic, as I understand woody will be under a lot of pressure to raise cash in December when his funds open up, selling his ~20% of ALM back to ALM and CA will give him much needed cash flow I reckon. Once he’s gone we should rerate significantly imo
No mate, and I'm surprised a little as i understood from the communications that they are hoping to get the sale approved, through and paid out in Q4 this year so I wonder if there are more discussion going on, cleary most not happy with the general principles of the sale inc crystal amber so who knows, for obvious reason we are somewhat of a ‘political share’ at the moment with some big players and influencers ... (i personally would have preferred to have held hawkeye longer as i think it has more value in the medium term from now).
Pretty sure we’ll get a rise when the div-ex date is announced, well that would be normal but we’ll probably get sold into :)
EGM notice tomorrow? Seems a cheap buy, assuming we go for divi’s at circ 11p, that’s around a 20% return back from an investment at circ 52p in the next couple of months, so any investor is getting Federated Wireless, Spin Memory, etc at 41p/share - seems a no brainier, great tech and I’m buying (averaging down) when I can at this level.....