Allied Minds - Is this the turning point?
H119 has been a period of real progress for Allied Minds, with strategic funding rounds for Federated Wireless and HawkEye 360 and the $65.6m sale of Allied Minds’ stake in HawkEye 360 to Advance. With the transaction subject to shareholder approval, 50% of the sale proceeds ($32.8m, c 11p/share) are expected to be returned to shareholders in Q419. Management expects HQ operational costs to reduce to c $7.5m for FY20. It has also taken the opportunity to rationalise the investment portfolio, with the remaining assets showing good progress. Parent cash at 30 June 2019 was $46.6m ($31.3m adjusted for post period-end investments). With NAV no longer disclosed by the company, our latest assessment, adjusted for post period-end investments, is 100.2p/share (87.5p/share fully-diluted).Allied Minds is an intellectual property commercialisation company focused on venture creation within the life science and technology sectors. Co. supports its businesses with capital, management, and shared services. Co.'s operations are organised in two types of activities: early stage companies, which consist of subsidiary businesses that are in the early stage of their lifecycle characterised by incubation, research and development activities; and commercial stage companies, which consist of subsidiary businesses that have substantially completed their research and development activities and that have developed one or more products that are actively marketed.
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