Albion Capital Group data analysis re QUANTEXA - and good luck to Colin Bell at today's HSBC AGM

Whilst we all wait for FCA, BVCA, VCTA, ICAEW and KEMI to report back (could be a very long time on past performance), I thought a very simple summary might keep the Albion scam to the forefront of  readers minds:

Albion said:

RNS 6 October 2023

[ALBION] is pleased to announce that it has sold a proportion of its holding[s] in Quantexa Limited at its current holding value[s], with the aim of managing its concentration risk.

The proceeds for the Company are [£8.5M], equating to a [..] times return on its weighted average investment cost. This decreases the Company’s holding in Quantexa to [minimum 16.4]% Company's most recently announced NAV.

The value of the Company’s remaining holding in Quantexa, following this transaction, is [£85.2m].

The disposal was realised at the Company’s current valuation, which crystalises a portion of the unrealised gain. There is no impact on the Company's NAV resulting from this transaction.

[The law on RNS disclosures:   :https://uk.practicallaw.thomsonreuters.com/6-101-7488]


BDO, Ed Lascelles and Colin Bell said:

Audited Accounts dated 22 December 2023

£24m raised by [ALBION] selling Series A shares.


Confirmation Statement dated 26 March 2024

16,065 Series A shares transferred to Private Albion funds.


Value per share:

ALBION say                £529

BDO        confirm        £1,439

QUANTEXA, it's solicitors and all Investors and their solicitors say £733.7 per share


What a shambles and all to line the pockets of the members of Albion Capital Group llp and their "private" funds in breach of the Listing Rules

Let us hope that QUANTEXA doesn't go the way of the only other "Tech" company that Colin Bell admits to being a Director of Serai, an HSBC funded start-up. - into the tank!  

https://www.reuters.com/markets/hsbc-shuts-down-hong-kong-based-trade-start-up-serai-2022-06-08/

source: Colin's LinkedIn profile where he omits his Quantexa directorship. Too ashamed to admit it?




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