The Lemon Fool

PRIM announce an interesting investment into battery technology - a high growth sector by any measure.

Will be interesting to see how this develops when MUST relists after temporary suspension.

https://uk.advfn.com/stock-market/londo ... e/84918631

PRIM announces Interims to Jun'21 and affirms the NAV at 6.55p. So at 4.05p the discount is an attractive 38.2%.

With its concentrated portfolio of pre-IPO private companies there could be considerable upside, whilst the discount ensures low risk.

https://uk.advfn.com/stock-market/londo ... t/86022213

I hold two small investment companies - PRIM with a MCap of just £6m and a current NAV discount of 38.2%; and CIP Merchant Capital (CIP) with a MCap of £32m and a current NAV discount of 37.7%

# CIP mainly invested in UK listed stocks - PRIM wholly invested in private pre-IPO cos.

# The investment managers of CIP hold 8.2%; The Exec. Chmn of PRIM holds 23%

The Risk/Reward ratio for both seems extremely attractive.

There is an added interest in CIP in that another fund held 15% and earlier this year made a rejected lowball bid. They have been buyers since and now own 29.2% - just below the 30% level when another bid will be required. Shares on offer at 60p versus the 93.93p NAV. I suspect a bid at 75p might win the day this time around.

Hi Skyship

I bought a few PRIM not so long back when the price fell back to 4p. I like the look of MUST and also have an investment in IES which similarly makes VRF batteries. Hopefully this is a market set for substantial growth. The other investments at PRIM may also prove to be a success although I haven't researched any of them.

Well, when I first mentioned PRIM they traded at 3.4p versus an NAV of 6.55p. In 2021 the shares traded twice up to 5.0p; but then deflated as they got caught up in a fiendishly complicated investment in a vanadium company. That deal with three other parties then headed to court; as the shares retraced to their starting point at 3.4p.

Thankfully, Rupert Labrum, exec. chmn., inserted a skilful get-out clause should the deal not complete by end 2021. As a result, of the $2.5m investment, $1m has now been returned. The other $1.5m is likely to be invested in BMN stock - potentially a good investment in its own right down at 10p/share.

In the meantime, RL took his stake up from 17% to c23%.

So, once again, PRIM look an attractive trade at a 47% NAV discount to a portfolio of cash and private companies - essentially Engage, Zuuse & Fresho. Zuuse now trading as PayApps - and could be the first IPO or trade sale opportunity:

https://www.pbctoday.co.uk/news/plannin ... ts/104451/

Looks value for a small allocation trade.

Sorry, link in my earlier post did not work. Here it is again:

https://www.pbctoday.co.uk/news/plannin ... ts/104451/

PRIM made two good portfolio acquisitions in placings this month:

# £277k into RMM @ 26.5p - now 30.5p

# £1m into CPH2 @ 45p - now 62p

Also provided a portfolio update today, which IMO underwrites the 6.55p NAV and hence the
45% NAV discount @ 3.6p.

Clearly a microcap investment company is no widows and orphans stock; but looks safe for a
small speculative allocation as their private holdings play out; and also the increasing %age
in listed plays.

Doing the basic sums shows that a 30% discount would mean an sp of 4.6p - a 28% gain from
the current 3.6p!