Member Info for TrekMadone

Https://www.londonstockexchange.com/news-article/HREE/investor-presentation/17507864

Trek

Remember…. Mcap is key, it’s now £6.15m!

How crazy is that!

This zipped up to around 10p intraday in the BTC treasury madness. That’s a taster at how quickly it can move.

IMO AIM listing is just a paper exercise now that the CPR has been updated ROST

Usual caveats

Trek

Indeed Hot Rocks slicing some. So now BarnsleyB has a bigger position than them! lol!

https://www.aquis.eu/stock-exchange/announcements/5644772

I just added 58107 - gets me back to a nice big round number!

This price range may not last that long. Once the seller clears that’ll be it imo.

Just have to stomach that in the meantime it could move from 3.5p to 5p with silly spreads.. But should have a very strong run through April in anticipation of IPO and when it’s confirmed…. I doubt you will be able to buy below 10p min!

Usual caveats

Trek

Well done PHP! Dividend legend!

"We have now achieved PHP's 30-year anniversary of consecutive dividend growth and approach the future with a dedicated determination to continue growing our dividend on a fully covered basis."

Trek

No idea bannister. I’m on hols. Posted the buys on Sunday using ii before flying out on Monday.

Trek

SMIF director buys….ai

While there hasn't been a major wave of buying for TwentyFour Income Fund (TFIF) specifically in the last 48 hours, there is a very recent and significant "buy signal" from the same management team's sister fund, which often acts as a proxy for their confidence.

Recent Insider Activity

* Sister Fund Buying (SMIF): On 16 March 2026—the same day as the market dip—Simon Richard (Non-Executive Director) acquired 25,000 shares in the TwentyFour Select Monthly Income Fund (SMIF). This follows a 10,000 share purchase by Director Sharon Parr on 13 March.

* TFIF Alignment: While these specific trades were in SMIF, the two funds are managed by the same team at TwentyFour Asset Management and share similar underlying credit exposures. Insider buying in the "Select" fund during a sector-wide dip usually suggests the managers believe the market is overreacting to the software/AI narrative.

* Historical Commitment: The Directors and Portfolio Managers of TFIF formally stated in August 2025 that they do not intend to realise (sell) their shares and are staying fully invested, signaling long-term conviction in the "higher for longer" income strategy.

While there hasn't been a major wave of buying for TwentyFour Income Fund (TFIF) specifically in the last 48 hours, there is a very recent and significant "buy signal" from the same management team's sister fund, which often acts as a proxy for their confidence.

Trek

From AI asking about CLO SaaS exposure….

“ While TwentyFour Income Fund (TFIF) does not publish a live, real-time percentage for specific sub-sectors like SaaS, we can determine the exposure by looking at the broader CLO sector and how these "baskets" are typically constructed.

As of February 2026, the fund's total exposure to CLOs is 38.4%. Within those CLO baskets, the exposure to software/SaaS typically looks like this:

* Standard CLO "Basket" Composition: A typical European or US CLO basket contains between 10% and 15%in the "High Tech" or "Software & Services" sector.

* Estimated Fund Exposure: Based on TFIF's 38.4% allocation to CLOs, a rough look at the math (12% of 38.4%) suggests a total fund exposure to SaaS/Software of approximately 4% to 6%.

* The "Software Weakness" impact: The February 2026 Portfolio Commentary notes that while "software weakness" caused a softness in spreads—particularly in the BB and B tranches where TFIF is active—the impact is primarily on the market price of the bonds rather than actual defaults.

* Portfolio Defense: The managers have explicitly stated they are actively avoiding CLO managers with "outsized" exposure to these stressed tech segments.

Why the market is sensitive to this small %

Even though SaaS is a relatively small part of the total fund, it is currently the "marginal driver" of price. Because TFIF holds the "mezzanine" (BB/B) layers of these CLOs, they are the first to be repriced when investors get nervous about the underlying loans.

The dip you saw is likely a reflection of the market repricing the risk of that 4–6% exposure, rather than a fundamental flaw in the other 95% of the portfolio.“

Trek

I placed some buy orders for yesterday- only part filled. One was for 200k at 4.6. I got 141893, the other was for 50k which got filled in full.

It isn’t the spread or price so much that one should worry about at this stage. That’s just the way AQUIS is. If you think the mcap offers deep value, which I do, then buy! There aren’t that many shares around and the exchange is relatively illiquid. I may be even more difficult to buy when we list on AIM as there could be lots chasing so few shares… why?

Coz 6.33m is insane for a helium producer with the contracts we have, the wells tied in direct to Jayhawk and now with ROST on line!

https://www.aquis.eu/companies/MDH

Even if this was 20m folk would say it’s still cheap!

Anyways now I have to buy more shares as I don’t have a round number!

Usual caveats

Trek

£1

It’s very likely because we have been caught up in the AI impact on tech. Some of the CLO’s are tech.

Doesn’t matter that the impact is minimal and more than offset by bullish ABS bets!

It’s where the herd is heading!

I read this last week but looking at the PF decided the impact was minimal so held. Hey ho could have sold and bought back cheaper! But was offline flying to sunnier clims today!

Usual caveats

Trek

Good update from SEQI - Nav up debt mostly fixed and good geographical + diverse pf to spread risk.

Non performing was only 0.3%.

I think we are bunched with renewables due to high yield but SEQI are much much more diverse than that!

Meanwhile buying back own shares and divi looks safe.

Add on any weakness imo

Usual caveats

Trek

It’s just starting but if they do land acreage in the US next to MP and prove up heavy rare earths and uranium then it will blow the doors off the SP — esp with part grant funding akin to what MP secured!

Such a little gem this one. The CEO is very business like.

Usual caveats

Trek

Gosh BB (et all)

Takes balls to run this microcap space — huge mate! GL .. not that you’ll need it!

I wish I could have stuck with my own convictions . I have had several +10 baggers over the years as well as my fair share of ‘busters & dusters!’

Had I stuck with ARB I would have made over £3m from a £5k stake! No BS!

But I sliced when the directors sold at around 30p from my 4.5p ish average! Still made a life changing amount! Well the kids did!!

I even made ten times outta DDDD when many folk lost money…likewise with VRS look at those stocks now!

Seeing many SP’s collapse made me realise I have got way it so many times, not clever, just lucky and not greedy!

My priority is income. Pretty much all my microcap winnings have gone into divi payers. That enabled me to set up my own pension and retire at 51 - well sort of —- as I still gotta manage that income in this space.

So you see the likes of HEX, where I am on gosh, I don’t know on how many free carries now! That feds my income!

However, I am still in HEX to the end with my core holding but I am running a trading side bet! Can’t resist it! lol!

Hold some trade some and that’s because of the boom and bust history of microcaps!

So explaining my street cred - and do NOT believe any of it - DYOR!!!

IMO peeps in this space have to recognise trends - like—covid —who couldn’t make money there. Now look at those stocks!

Chase the trend take profit!

So hopefully you see this isn’t a rampy post, it’s experience - trying to help fellow PI’s as this system is loaded against us!

My play is where there are trends —- make it your friend. Jump on!

But do not be blinded by a rapidly rising share price against basic market fundamentals. Period!

Investors should be looking at mcap v peers, NOT the SP - the mcap is the opportunity!!

Look at the cash position, will the next raise can be supported by revenue and be accretive! Should you average in to mitigate any raise.

I am expecting a raise here as part of the IPO. I didn’t earlier but because of the delay I am now.

However, I don’t see it as an issue because the shared well has been massively derisked by the locals and the thrill of going deeper is bound to attract more speculation. Also the revenues are about to be significantly enhanced by the helium price!

If you don’t understand how a rising commodity price can seriously enhance a SP just look at FRES and the price of silver or GGP etc and POG!

It’s going to be even more exponential when the Helium price more than doubles! The SP will imo more than quadruple if the revs support it!

So plug that into your predictions! But like I say trade some hold some; don’t get greedy!

So when the bubble pops you are still in life changing amounts of cash. Unless of course you want to go for the £3m! lol!

Usual caveats

Trek

£1

I had a buy order filled here Friday into the close.

Was very pleased with price even though it’s +40% more than my average1

I have also set another buy today and will sell a couple of other positions to add here.

Why — well apart from it’s shocking that Tro has far more shares than I ….. lol! … nah…. It’s more about ignore spread. Ignore SP and just look at what the mcap is v what you are buying asset wise and the prospects!

I have been in similar situations before only to later rue not adding coz of the spread only to see it dramatically close with volume and the the SP gap up big time!

The SP NS spread is irrelevant as long as the story is well ahead of the mcap!!

Usual caveats

Trek

I don’t get the SP here tro - it’s so under radar for its mcap. Been supported by huge regular director buys as well!

Way safer than the resource plays!

Imo this will rerate at some point!

Trek

This is a little gem oldbrian.

Tray and get in below 300p — it’s tested it a couple times. CSN always — as far as I know increase their divi —- like 20 years now!

As well as being an obvious takeover target — we also pick up bits on ‘the cheap’ that the bigger players see as non core and want off their books. Like the recent HSBC book it becomes immediately revenue & mcap accretive for is even with a small dilution!

Usual caveats

Long term holder

Trek

Just saw one of my MDH buys got filled at 4.358p I had set 4.5p for 50k so well pleased.

Will average in more later.

Trek

I do similar tro, derisk along the way, but I am already in profit on MDH so gonna hang on and even add more to be able to trade them laters.

Well done on that conviction buy though! It wasn’t easy putting in a grand even to know if you wanted to sell immediately it would only net £500!

Here’s an interesting chart…

Where the world gets its energy…. Before all the double shuffling!

https://www.visualcapitalist.com/energy-mix-of-worlds-10-largest-economies/?mc_cid=9de3dd7201&mc_eid=5222e6014c

Oil be dammed!

Trek

Heck tro that’s some MDH holding then. Mine is at 300k shares, average of 2.78p.

Did have 400k but sold and then just re-bought 300k after the treasury blip. Can’t remember exactly how much I made but sold well above 5p then averaged back in again to 2.78p

Now I have buy orders sat on the muppet exchange to try and top up as that’s the only way you know what price you will get rather than sending the trade blind!

Trek

Just saw a 1.3m indicative buy printed. Delayed.

That’s interesting. Wonder if it’s Saba adding.

They would know by now. There’s no secrecy in these finance matters. That’s just not how it works.

Usual caveats

Trek

Hi Picasso,

Jeffries are still net long. They just trimmed their stock on loan slightly.

I agree with ToD though, a divi cut is likely unless they can reduce leverage to 65% by disposal.

If they have one lined up that could be why the divi announcement is delayed else they will breach their banking covenants.

So Tuesday my guess is we get a RNS saying disposal and leverage reduction therefore divi paid in full

Or

No disposal and can’t pay divi in full due to banking covenants therefore divi cut to conserve cash and reduce leverage.

No idea which one but against this market backdrop the second option is more likely.

Having got my head around it I sliced 20k shares with view of buying back cheaper or not at all.

Longer term Saba and Jeffries see deep value here. Saba are taking a long view of an asset sale and would rather see buybacks than a dividends.

Everyone should win here due to the discount as the money will come back to shareholders in some form. That’s why Saba are here to accelerate that process.

But it’s a question of when and income seeking PI’s mostly aren’t interested in a long returns process and just want quarterly high yield.

Usual caveats

Trek