The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
D.Monies
With respect, and please correct me if I'm wrong. We don't actually know he's been awarded a £250k bonus for this year ? (I don't even know when it's awarded).
I 100% understand your grip and I'm in agreement that it's not deserved going on how the SP has performed over the last year and it would be an unwise move (I would have thought the larger holders like James Knight would be horrified), but nevertheless, we don't know for sure.
Just saying
Https://mondovisione.com/media-and-resources/news/uk-ipos-fell-to-just-one-in-q4-2023-but-upturn-expected-in-2024-as-interest-ra/
This article was written on the 12/1. I tend to agree with CM that it's more likely to be in mid February somewhere, allowing them some wriggle room if it misses, with regard to the loan to Lucyd. They are obviously pushing hard to get the float away and it will happen eventually.
As always, the valuation, terms and conditions is what we will really need to concentrate on.
GLA
That's the conundrum with Bell. TEK can destroy it at any time, or at least until it's better established with a decent revenue stream.
It will be a better hold once TEK are fully out imho although to be fair it can happen any place, anytime with minnows, when there's a distressed seller involved
No one likes a profit warning.
Charts have been pointing south for ages. Struggling to keep above support.
Hope you weren't all sucked in by your resident ramper. Talks the Talk. Stumbles about
Afternoon CM
Good points - The only thing I'd question is how much input TEK would even be granted given their holding. Not sure of how the relationship with BELL is these days.
It's obviously good with LUCYD and I expect with Microsalt and Guident too but a fair bit of water under the bridge since the float so how much communication there is between the two parties is hard to guage.
One could argue weakly that they were right to seel rhe last 2 tranches above Bells current Sp. They are shareholders not management. You need to direct that comment at Bell not TEK. All things being equal I can't see how you can blame TEK for Bell s mismanagement since they floated
Spot on CM22. With all the contracts they've been winning and a clear view of the runway in front of them, they should have raised more. Why couldn't they work out how much they needed then. It would have saved a fortune in the long run. (ie in comparison to what they're giving away now. Who's to say £5million is enough. Why are the giving up 50% of a company worth £20 million, even at this ridiculously low level for that. It's utter Bxllox
All those continual posts encouraging everyone to sell their BELL shares and buy TMT shares have also contributed. Wouldn't be surprised if they're connected too. One was incessant, daily almost, at outset.
As it's now turned out those who did switch will have added 25% to their bottom line.
Still stinks though. Wish they'd find a solid backer somewhere and drop this lot. I was originally thinking of dipping my toe in when the finance gets sorted but with this lot involved I might need to watch a bit of dust settle
Giving away 1/2 the company for a few million quid. That's poor. Always said the CEO wasn't fit for the 'business side' of the business.
Really can't work out why they've gone down this route as there must be better options. The delay has really weakened the share price. Financing should be done behind closed doors not like this, over months and months.
Great business. Rubbish managment. Can't figure it out
Morning Learning
Although there are a lot of BELL holders here you might want to put that on the BELL BB as they'll have a better understanding of what's been going on with TMT I would have thought. It's been a very long tedious process from what I can see, so no surprise at all it's held up a bit. I wouldn't personally read to much into it but I expect Bell holders will have their more accurate views
Morning Sea/Cm
They want £$ 40/45 million. The original admission doc posted here showed that they would be retaining 30, million shares and after float TBA. It sounds a bit contrived I know but if you put it with that old valuation it more or less stacks up.
Whether they get it or not is another thing, but I'm still pleased that they are waiting to get it off on a good foot.
GLA.
Yes Sea. Blood is thicker than water as they say.
Been a curse in many ways with regard to Lucyd but it works both ways. Pretty good endorsement that it's a bridge to the IPO imho.
Gotta go... laters
I think they may actually sell some of their TEK stake in Microsalt this time around Clenched. I think it would definitely be a wise move to at least fund the whole operation accross all the businesses for a decent chunk of time. A couple of million quid or so. I think the IPO will be worth between £20-£30 million to TEK holders after the captial raise and slicing off 10% to clear the runway wouldn't be a bad thing.
Just my opinion
Borrowing off Innovative eyewear. Have I got that right. At least Innovative eyewear still have a few quid in the coffers. Nice to see a return of favours. They've had enough.
Better than dilution at the SP where it is. Guident, Bell and Innovative eyewear all funding themselves so after Microsalt gets floated apart from Cliffords + a few other salaries, not too much else to fund until the next onboard (which he's on record as saying won't be anytime soon).
IPO incoming is my guesss.
GLA
Morning Nelson.
Yes fairly light. I think the key takeaway is that they have initiated a 'presence' in the UK and EU with the distribution outlet in Southampton. They'll need to IPO to really gear up but that'll come in time, hopefully sooner, rather than later