UK 10:22 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Neil Woodford thought his investments into Allied Minds (ALM) would do wonders for his reputation…..it is just that the wonders weren’t quite in line with his expectations – they were more in line with ours! Yesterday morning Allied served up the departure of co-CEO Mike Turner as of March next year and the Chairman, Jeff Rohr, the following June. Rats, sinking ship anyone?...
I suppose Neil Woodford does not care about executive greed at Allied Minds (ALM), people in glass houses, etc, etc. But it seems as if Richard Bernstein of Crystal Amber is not quite such a happy camper and is particularly pissed that the fat cats refuse to discuss it with him. He has now taken to twitter to express his ire as you can see below.
There has been lots of good news for Neil Woodford – aside from the joke listing of Proton Partners on NEX. Last night, AIM-listed investment company Crystal Amber Fund Limited (CRS) announced its monthly NAV and in it we learn that it wants to take over the running of Allied Minds with a view to winding it down. The good news is it thinks it can realise the assets at a big premium to the then current share price. The bad news…..well, the criticisms of the current arrangements are eyewatering. Was Neil really happy with this, and if not, why did he not do something about it?
The good news for Neil Woodford – which might helpfully take his mind off the impending 100% wipe-out with his revolutionary water company (Halosource – see HERE) – is that investee Allied Minds (ALM) says it has extended its cash runway to support Allied Minds’ activities into 2021. I guess that should mean this collection of dogs won’t need bailing out by Woodford for two years, except Neil is bailing it – or rather two of its investees - out at the moment!
Allied Minds (ALM) was due to release its interims at the end of this week but put out a rather strange statement this morning delaying it until the end of September. I thought it would be helpful to offer up an explanation as the situation is more complex and worrisome that this morning’s five-line announcement might indicate.
Having queried earlier this week why Allied Minds (ALM) sought to open a credit facility with a US bank, I was looking forward to the release of the company’s half-year report this morning. It’s been a busy period for the company, with new rounds of capital raising and new investments across a range of subsidiaries.
Early-stage bioscience and technology investor Allied Minds (ALM) is scheduled to release interim results on Thursday of this week, but updates the market this morning with a twin RNS release. In a surprise move, it announces that it has secured a $20 million debt facility from a US bank. Why?
Our very own Janos Hipsley flagged Allied Minds (ALM) as a stonking sell at 660p back in May - HERE. The shares are now 451p down 12.7% on the day as US bear raiders Kerrisdale went on the war path. It has released a pretty damming report.
Allied Minds (ALM), as we have discussed previously, is an R&D-focused company with interests in “life sciences and high technology”. In its own words, “Allied Minds' core aim is to focus on early-stage disruptive technologies that it believes have significant upside potential and to realise that potential through supporting commercial development.” There are few instances of companies with almost zero revenue generation entering the FTSE-350, but this is one of them.
How’s this for a stonking sell? Allied Minds (ALM) is a member of the FTSE-350 index and is capitalised at £1.55 billion. This is rather impressive for a company which in the six months to June 2014 reported revenues of $2.9 million and a loss of $27.2 million.
