Ann: Ceasing to be a substantial holder, page-10

For anyone interested here is something on Regal Funds
https://www.livewiremarkets.com/wires/phil-king-s-6-rules-of-investing
Including ;
.... “The most important thing for us is valuation. We want to short expensive stocks and we want to buy cheap stocks. There are some stocks that are possible home runs or zeros, as some people call them. And they are the ones where you look for red flags.

And there's obvious things like management that are probably spruiking the story too much, and weak balance sheets. They're some of the most obvious red flags...”




Kyckyr is possibly also suffering ‘orphan status’ due to its association with Illion?
(it signed a reseller agreement with Illion  on September 23, 2029 .Kyckr announces reseller agreement with illioncom.au/threads to “accelerate collaboration in key markets across Australasia.”

The price was 24c then.
But according to the Illion sale story below;
“It is thought part of the reason some bidders have walked away from Illion is the bullish $1.5bn-plus price tag and issues some of the parties have had with how to commercialise Illion’s data.”


https://www.theaustralian.com.au/bu...y/news-story/3f94e114857d769dc45cf69409f11356

“Illion suitors walking away
BRIDGET CARTER
NOVEMBER 17, 2019

The sales process for the credit-checking company Illion looks likely to be extended for a number of weeks, with final contenders for the business said to be backing away from an acquisition.

Most of the groups in the mix in the late stage of the contest are said to have downed pens only days ahead of when final bids are due on November 22.

This date is now likely to be pushed back.

Macquarie Group and Unisuper are said to be out of the contest, along with Blackstone, sources say. So are the other final contenders Bain Capital, Carlyle Group and Keppel Infrastructure.

Pacific Equity Partners may also have walked away.

Interestingly, it is thought private equity firm Odyssey was in the final mix, although some doubt whether any final contenders are gunning hard for the asset.

While EQT Infrastructure was said to be looking, it is not understood to have been there in the later stages.

TPG Capital, which at one stage had been examining the business, was believed to be working with advisory firm Jefferies, while The Carlyle Group is understood to have had Morgan Stanley in its corner.

It is thought part of the reason some bidders have walked away from Illion is the bullish $1.5bn-plus price tag and issues some of the parties have had with how to commercialise Illion’s data.

Archer Capital is selling Illion after it purchased the business from the owners of Dun & Bradstreet for $220m in 2015.

It generates $70m to $100m in annual earnings before interest, tax, depreciation and amortisation.”​

Maybe a sale s going to be announced soon and KYK’s technology can help with commercialising the data?

But maybe Illion is  not connected to the price collapse?
Good thing that Regal is going/is lighter whatever the reason

Cheers