Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes RichWG, if they do manage to turn it around and bring it back for a profitable exit, experience of IPOs has taught us all that the correct strategy would then be to cash out within the first few days after the re-flotation. Long shot, but what else?
I keep looking for a reasonable exit for this dog of a share but it never comes. How I wish I'd sold out a year ago when Ashley and the Alliances were fighting it out and the price spiked to 42p. The Alliances are rich and they have effective control of their baby. There's no incentive for them to change the management or shake up the operations or even flog the company to a smart operator who will extract value. As it is, nobody can do anything. Company won't go bust, but I can see a long, long life in the doldrums. When founder/owners are a negative in a company's existence.
One can request a (paper) share certificate via your online broker. That's what I'll be doing with Barclays. I'm not sure if it means it drops out of my tax-free wrapper (ISA) or not, but it makes little difference anyway, as there aren't any profits! Once private, the company may (or may not) provide limited 'over the counter' trading facilities, but the chances are one will be holding and waiting in the hope that the company will re-list at some distant point in the future... when everybody's forgotten it all....
Exiting an investment by bringing a company to the public markets is absolutely the main way private equity make their money, so I think there's a good chance, *if they are able to turn the company around*, that they will bring the company back to AIM, though it probably won't be called Loopup....!
Obviously no guarantees here - very far from it - but given my shares are valueless now, fwiw this is how I intend to play it.
Yes, he's the founder/CIO of Harwood Capital, the outfit behind a number of well-regarded investment trusts. I think he also resigned from the board of TRLS recently. So, resigned from the board but invested in the company. I'm not sure what it all means, if anything, but there could be something afoot..
A perennially disappointing share. Why do I fall for these recovery stories? Three years and waiting...
In the results they say it's a key element of their strategic plan "to drive operating margin growth over the medium-term to our target of 5%". Says it all really. A low quality business in a tough sector. Whoops!
Reading the last few RNSs and nothing clarifies. I read a significant Director buy, but then I realise its the new Chairman and it would look real bad if he was shareless, so of course he has to buy. Then I read a significant TR1 (+5%), but then I realise it's Canaccord, the new Corporate Broker and I wonder are they really independent? I read of a couple of contract wins, but they are small. I'm a shareholder, I want to be optimistic, but I keep finding qualifications to every bit of 'good news'.
However, the real problem, as Im increasingly seeing it, is this company's tiny market cap of
Fair comments Mozax. I do hope you're right as I punted a small amount on TRLS yesterday afternoon.
I'm in the other Harwood biotechs and have been watching TRLS for ages. Indeed this is a volatile illiquid share, which, to my mind, means spikes up as well as down... esp with the cash position. That's what I'm hoping for.
Sorry for the long post, but I thought I'd just lift a comment from the CEO of C4X Discovery Holdings plc. Not a share I hold, but these are the sorts of chilling words we investors in this space need to try to guard against in our decisions.
Re: Proposed voluntary cancellation of admission of Ordinary Shares to trading on AIM.
"We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to delist from AIM and re-register as a private limited company.
Despite delivering on our strategy including three major deals with leading pharmaceutical companies demonstrating our scientific expertise and deal making capabilities, the recent downturn in the financial markets has adversely impacted our share price, and with it, our future ability to raise funds in the public markets. The Board believes the current public market valuation does not reflect the underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term. We believe that we can potentially access a larger quantum of future funding required to accelerate our strategy as a private company and therefore we believe that a cancellation of the Company's admission on AIM is in the best interest for Shareholders and for the future of our business as a whole."
Well, that's the divi gone. Classic! Poor management & capital allocation from the previous lot has reduced what was a highly profitable cash-generative business to one that got itself into so much debt that it has had to stop paying divis for a year. Not terribly happy. Long road back.