Member Info for Testing321

That's a bad one, 89% reduction. In my valuation calculations last week I had Engage around £1.8mil, what we paid for it, now worth £158k. Ouch. Prim team (and other investors in Engage) can't be pleased with that dilution. Unless the restructuring results in significant growth this should now be considered a non-core investment

Hi rkb good to hear from you, have you bought back into prim?

So any significant value increasing event in say Fresho, WeShop, Engage, Alte will put our NAV above our MCAP

Poormandreaming - here is a NAV calculation for you on Prim's holdings, with assumptions:

1. Fresho - if we take our total holdings and the last raise price, we get £1,638,003. Let's say double it as we know Fresho is continuing to grow, this gives us £3,276,006.

2. Engage, let's assume the value is the same as the last raise price, so total of £1,781,894.

3. CPH2, price has gone up but is still substantially below what we paid. At today's price this is a total of £325,000.

4. ALTE, the RTO with Verdant seems to have stalled so let's say this is just what we put in - £350,000.

5. Interpac, let's assume same as the last raise - £416,880.

6. WeShop, based on information from WeCap (formerly IamFire), from a January update, they own 15.3% of WeShop at a value of £24,600,000. So if prim owns 150k shares the value is £842,348.

This gives us a total value of current investments around £6,992,192. This almost matches our current market of £6.43m. There is still then the additional proceeds from the sale of the FMI Payapps business as well as cash holdings.

Excellent thanks ruskinboy I've received my too

Thanks ruskin I contacted them they said it takes 1-2 working days so if nothing reflecting by Friday afternoon to contact them

Has anyone using Charles Stanley Direct receive their divi yet?

It seems like the delayed dividend allocation happened to give Stephen Ball time to shift his shares from his personal capacity to his corporate/company account in order to better manage his taxes. For more context have a look at the conversations on ADFVN

We haven't received an update from ALTE in a while, but I see that Verdant has a new website, their Redbank power station is currently undergoing planning approval: https://verdantearth.tech/

Quote from Jason Kotchoff, founder of Stocklight.com and now works on software at Fresho:

https://www.linkedin.com/posts/jasonkotchoff_freshfoodwholesale-ordermanagement-fresho-activity-7162960072875200512-b0ov?

Interesting reasoning here too: https://stocklight.com/news/stocklight-product-update-fresho

Only 8 trades, the market is completely sleeping on this share

Spread is awful

Well played Rupert!

The Prim investments page was updated yesterday to reflect the following:

Removal of Payapps holding

Removal of Bushveld holding - I assume all funds have been received

Removal of Supernatural Foods - probably a write-off

Brilliant news, £5million cash, almost as much as current mcap, and ignoring the value of all other investments. Should be a good day, prim is vastly underlooked

Accumulation going on, could be Rupert or Stephen perhaps

Continues to accumulate. Currently second biggest shareholder behind Rupert

IFM Investors expects the transaction to complete next month. Payapps processes over AUD$75 billion (!!) in payments each year:

https://www.ifminvestors.com/en-gb/news--insights/media-centre/payapps-sale-another-milestone-for-ifm-private-equity-team/

Yes important to keep in mind that approximately 40% of the shares are held by only 4 people, 3 of which are linked to the company itself. Not many shares available. Any serious demand will drive the price up substantially

Now for Fresho - from their recent LinkedIn update there are 62,000 trade buyers on their plaftorm. Let's take a guess that each supplier has on average 100 customers. That's 6200 suppliers. Their middle ground pricing is AUD$258 (£133) per month. That's ~£825k revenue per month, £9.9 million per year. For simplicity sake if we use the 8:1 ratio for valuation (complete arbitrary but used in the absence of any other info), that's a valuation of approximately £80 million. Prim owns around 4% of Fresho, so that's another £3mil. So just between Fresho and Payapps we may have over £10million value, ignoring all other investments. Prim could at least double or triple from here.