Member Info for Wigwammer

One of the major items of concern was funding, now largely in the rear view mirror post the asset sale announced yesterday. Well done Tim .. ATB

Be lucid then.

Are you buying the shares or not?

Good news today. Extends the cash position while retaining exposure through the incanthera warrants. Well done to those who bought at the lower levels.. ATB

I’m sure there are many people here who have made very well founded points about the level of debt and lack of management activity all the way down. Some listened, others not so much. ATB

The 128355 share purchase earlier is intriguing. Another PMDR purchase potentially.

I’ve cut back the position I bought the other day. Taken a small loss. Stinks of an RI, and if it happens, that whole management team should be replaced. Too many failings in too many ways. ATB

I expect MCG will be 150p+ within 2/3 years. It matters little whether you pay 50p or 60p now. Just the ability to buy and hold. ATB

The bids certainly suggests - now corroborated by two different entities - that those in the know believe there is good value in Wood Group. Bear in mind - those bidding aren?t offering 220-240p with the expectation of just getting 220-240p back. ATB

4corners finally turns positive, and the shares plunge.. :)

Hi Dallo. Please correct me if I’m wrong. but I believe immupharma own 9.9m shares in incanthera. So at the current bid price of 18p per incanthera share, the immupharma direct holding is worth north of £1.7m. This is considerably more than you suggest. ATB

Synthomer Plc (SYNT:LN) (SYHMY) PT Raised to GBP3.75 at Berenberg

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

Well you can disagree all you want. But there is simply no way our stake/warrants/options in incanthera are worth 1.25p per immupharma share, or over £5m. This is simple maths. 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