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Now that's interesting, millionaire John Hemming former MP has bought 4% of Primorus
Pokerchump, Monevator has a good summary of brokers, have a look here it might help decide what's best for your needs:
https://monevator.com/compare-uk-cheapest-online-brokers/
Guess we will have to wait and see what RL has up his sleeve!
Interesting, thanks Timmit - so if I summarize from this info, as a rough example:
Two 3MW turbines would cost £4.6mil which could be covered by Prim
and if we use the lowest rate assumption (100% export to the grid) with mid-range annual wind speeds (6), could be a net income of 2x £333k = £666k per year
Yes Rupert indicated the preference for green/renewables, he called out their contacts in this sector, so potentially batteries, hydro, or wind then? I know very little about these as investment cases but a quick search for wind turbines seems to show reasonable potential for net income generation and the costs within the £4/5mil Prim has available
https://www.renewablesfirst.co.uk/windpower/windpower-learning-centre/how-much-wind-energy-income-would-a-wind-turbine-provide/
Wonder if they'd buy a cash generating business outright, bring some cashflow and not rely purely on investment growth
Fair point thanks Timmit
To me the strangest omission was Zuuse, which we supposedly have £1mil invested in, around 20% of our market cap but no mention? Maybe BoD are going to be selling it shortly to free up cash for next investment
Two buys totalling £77k from yesterday just printed. More than Clarke's notification today. Expect another TR1 soon
Straight on. RNS was relatively muted (perhaps intentionally? Still odd that they didn't mention Zuuse given that prim holds £1mil), good time to pick up some shares on the dip. BOD (or related) buying more definitely brings confidence for future plans. Might get news sooner than some suspect. The 3 subsidiaries were registered less than 3 weeks ago
and another £12k buy this morning, wouldn't be surprised if it's RL topping up
Yes nothing unexpected, but no real new news or fireworks either. Drop in SP isn't a surprise. Going to have to wait and see what the new investments are but this could take time, so SP will drift down most likely unless more director buys. That being said, I'm optimistic given RL's large holding and recent buys, the reduction in costs and honest assessment of current investments, and the future potential investments in a growing area that is seeing large investment around the world.
Last of the quarterly updates, RNS's will come as and when required.
Fresho has launched in California which is great to hear, B2B volumes up 55% on the quarter.
Engage revenues have recovered to pre-Covid levels
These are the main two. Seems like rest of them are insignificant, perhaps only Zuuse worth reporting on. Sounds like next investment will be in renewal energy? Good idea given the current global push and interest in this area. No mention of the SPACS
Another £19k buy today. Seems like someone is accumulating
Turning a £10 million war chest into £50 million is not inconceivable. Look forward to seeing the plans for the subsidiaries
Only 140m shares in issue, market cap ~£6 million, director willing to put £1m of his own money in (~20% of the shares) - what's not to like? Once this gets some positive news could go vertical
Agreed canaries, if someone is willing to put ~£1million of their own money into this - look forward to seeing their plans
Interesting find, thanks for sharing LewisBacon. So my understanding of a spac is it's a vehicle used solely for the purpose of an ipo/acquisition, no other commercial activity itself - it raises funds and has a set time limit to acquire a target. Does this imply that PRIM, through these spacs, will be acquiring one or more established companies? Is my understanding correct? Is this why Rupert has been interested in Prim all along, as he started investing before the GGP rise and subsequent large cash holdings
Assume we'll get our first quarterly update from the new board towards the end of next week?
Absolutely agree @canaries. Another £10k purchase this morning - Rupert topping up some more?