Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
GMHK - you stated you were confused why people were selling. The simple answer is that at a higher price/valuation the stock is closer to people’s targets. So it’s really not that confusing, is it? While I can understand holding while a stock reacts to a new and more positive data point, I really can’t see anything more positive in todays update that justifies moving your price target from 350 to 450. But hey ho, to each their own… I have a 3 year price target of 750p+, if it gets there quickly I’ll be very happy. ATB
Well I still have most of my position, so I expect it to go up. But my confidence it will rise materially on the back of this update is lower than after the prior update because 1) they have not detailed anything that gives rise to believing the earnings outlook is either improving in terms of level or quality, versus the guidance given before… 2) the valuation has doubled already off the lows… 3) broker targets are no longer guiding to a doubling of the share price… surely an equally valid question is - given we have been presented with the same vaguely optimistic guidance as at the last update, why didn’t you own far more shares lower down when the valuation was cheaper, such that now you would be willing to sell because the valuation is demonstrably more expensive?
Hmm. I’ve taken some off the table this morning. Last update gave clear indication of fundamental stabilisation and improvement, and pointed to impressive product mix. This one doesn’t add to that, and I see broker targets are coming in around the 260p mark so may drift. Valuation remains highly attractive medium term though IMO … ATB … ps see at least one of our eminent PFC holders has done another bit of “post event” trading. Will it ever stop?! .. :)
True Dallo - the treatment of the warrants will affect the value of the incanthera assets, but also the number of immupharma shares we use - diluted or undiluted - will affect the value of the stake on a per share basis. For the sake of identifying that the stake is currently not worth anything like 1.25p a share, the 0.2p approximation was perfectly sufficient… ATB
Not sure that’s correct, oldbutnowisa. The Imm stake in incanthera is currently worth around £1m. Current immupharma market cap is around £9m at 2.2p and that’s before dilution re warrants, options, and so on. So the stake is worth around 0.2p per immupharma share (a bit more if we include the incanthera options we own). ATB
Sounds like they are trading well. The statement is a bit short on facts and figures again, but compliance with covenants is also a big objective tick. If they can get through the restructuring and see material margin gains as a result, then the upside potential from this level of valuation is fantastic? ATB
Nolupus - your sceptical point of view is neither silent on this board, nor I suspect, is it in a minority. One of the only interesting things lordbore has stated is that his posts frequently get ticked up - they are consensual - whereas goldgirls posts get less attention. Many successful investors - including myself - believe that the best time to buy is when scepticism is rife, and the time to sell will be when goldgirl posts are getting lots of attention, and the lordbore sceptics getting none at all. My guess is you bought near the peak last time - circa 150p - and will do so again, precisely because you are unconsciously influenced by the consensus. Who knows - I might even sell you my shares near the peak (again)… ATB
No lordbore - we have a problem understanding why you claim to have “no idea where the shares are heading” when in fact, you own the shares yourself… As for Goldgitl - she wrote 30 something posts on Imm over the first 3 weeks of April, with scant evidence of her repeatedly posting opinions as facts. You should apologise to her, but I suspect you already know that.. ATB
No lordbore - we have a problem understanding why you claim to have “no idea where the shares are heading” when in fact, you own the shares yourself… As for Goldgitl - she wrote 30 something posts on Imm over the first 3 weeks of April,
Super - you are right to question lordbore’s wording -he clearly does have an idea where the shares are going, or he wouldn’t own them. I would also draw your attention to lordbore’s claim that goldgirl “repeatedly” presented opinions as facts. Looking through her April posts, there is only ONE where she appears to do this - “Imm will multibag, this is the bottom”. So not exactly repeatedly, and not really worth any fuss at all. But we are dealing with a right old intransigent bore here … ATB
Well yorkshire, I can certainly concur with your view that old lollyborebags can’t be much fun on a night out. And to prove the point, the only lady in the room has just run off… I also enjoyed goldgirls enthusiasm and to my mind she made a key point - it is the late stage nature of key assets that sets Imm apart.. ATB
Lolly. I haven’t filtered GG, and this is because she makes some interesting and relevant points about immupharma, and it is easy to decipher that her more optimistic opinions are just a case of somebody talking enthusiastically about their investment. As others have pointed out, it is far less clear what you add here. ATB
Pokerchips - ironically I believe you are ramping the available evidence to try and force a point. I don’t recall anyone screaming the place down here about deramping. But one needs to remember what the purpose of these boards is - which is generally for shareholders to get together and have fun discussing their investments. There is likely to be a natural inclination toward people talking optimistically, because most visitors will be holders, or people interested in holding. What is abnormal, is the one in ten or one in twenty posters who visit with the repeated intention of simply undermining that optimism, and undermine the enjoyment… I have seen boards where the ramping is out of control, multiple posters aggressively repeating one line mantras before disappearing back into the ether. But I see almost no evidence of that here. Let people enjoy their investing, 99%+ do not need to have their hand held, thank you... ATB
Goldgirl - your point that immupharma have late stage assets is a good fact, and one that sets it apart from many alternatives. In fact, it is one of the key points neglected by many punters who missed the run up from 20p to 180p+ during the last phase 3. And if you want to mix your useful facts with a bit of passionate rhetoric about your investment then no problem with me. This is a public chat board, not a court of law, and investment is meant to be fun too. But for those who are really wet behind the ears and need their hands held - shares can go up or down, any money you invest is at risk, don’t take literally everything you read on a chat board, bla bla..
And I see you, pal. Someone silly and immature enough to chuck things like autism around as an insult, and quietly attempt to offload their mistakes onto others because they don’t have the capacity to absorb it themselves. Or perhaps you really did let a few posts “cloud your judgement” - a right psychological tour de force… Nobody sold your shares down there pal, except you … ATB