Member Info for stockyheathlad

And today it's the "dribble downwards" .

I've been invested in this share for years and struggle to understand the movements.

Back in July, some people were getting very excited about the Napster investment but reality is now starting to dawn. B. Positive, in particular, was living up to his nom-de-plume by telling us that, from his research, Napster was worth $20Bn and set to be a $100 Bn company - Given that the company had been bought for just $207M a few months earlier, that looked like total pie-in-the sky to me and, sadly, I'll go so far as to say now that the Napster investment could well end up as a total write off. Fortunately, it's only one of many investments but it does raise a question mark about the quality of some investment decisions. So, I'm not expecting any great upsurge in the short term, although I'm seeing Mindflair as a strong hold.

I think this is one to just sit tight on. I think those hoping for some really positive news in the short term are likely to be disappointed. For me the fundamentals are OK but the true NAV needs a lot of forensic work and the timing of realisation of investments unpredictable.

Thanks for the additional info., B_Positive.

Two points: The investment in Sure Ventures Plc is, as you say, reported as about 23% but that doesn't equate to the investment in "Sure Valley Ventures Enterprise" as you reported earlier . The plc owns a smaller percentage of the three funds as listed in my earlier note.

Also, your quote that "NAPSTER is also set to be a $100b+ company if you do some digging." is OTT in my view. Yes, the CEO has said he wants to grow it into a $trillion company but does that mean anything? High hopes aren't worth anything.

Having said all that, I agree with you that the positive outlook for Mindflair looks well founded to me.

Thanks for some interesting data you've put forward, B_Positive, but I'm not sure about a couple of your statements. You're bullish about Napster and tells us it's worth $20 Bn now and is set to be a $100 Bn company - I hope you're right but it was bought only a few months ago for $207M, although I appreciate that was a precursor to a restructuring of the long defunct company. Also, you say that the percentage owned by Mindflair of Sure Valley Venturers Enterprise is 22%. It's a bit of a labyrinth but I don't see them owning that percentage, combining their direct and indirect holdings. According to their June '25 briefing they own 23.8% of Sure Ventures plc, which, combined with their direct stake, gives them , in turn, 19.2% of SVV's first fund, 7.3% of the second fund and 16% of the third, most recent, fund. Still a good slug but not as much as your note, unless something has happened in the last couple of months.

I don't see this being "taken out" as predicted by Spacerat. Am I missing something?

I agree with others that a deal involving a big chunk of cash would not be right at this stage of the company's development.

The gearing of Volex is already toppish and, whatever the merits of a TTG acquisition, they shouldn't increase their debt even further.

When you have a major investor in Redwood in the form of Warrington Borough Council, which has been under constant criticism for making the investment, it's bound to be a bit laborious satisfying all the parties involved.

WBC are a significant investor in Redwood and I guess their involvement may have slowed the process down, as it has been a political football for a long time.

Good question! I invested a long time back in the expectation that the business would continue rapid growth worldwide. It's not worked out quite how I hoped but I'm sitting tight, as I do think that their investment in new facilities may start to reap benefits or entice a bidder.

I guess 20% year-on-year growth in EBITDA, improving margins and doubling of cash might be uninspiring to some: certainly, it seems, the traders, but I think its OK. As for issuing updates, I don't agree that we should just wait for the annual statement.,