TEK thorney technologies ltd

4.17%

11.5¢

Ann: Net Tangible Asset Backing February 2024 with commentary, page-7

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IndexInvestor

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18/03/24

12:48

Post #: 72939768
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Originally posted by Wazz101: ↑

Thanks Indy,

Seems to be a big widely held negative sentient towards Alex with the view that his activities being solely to squeeze shareholders.

So, he generates $1.6m pa as management fee, of which he which he wears 25% himself as a TEK owner, so $1.2m net.

As a billionaire, I am sure he has plenty of other sources of income and as an Investment Manager, seems to spend plenty of time and energy investing for the fund. He has unwound the Updater bundle to be now only around 2% of the fund and undoubtedly that has been a disaster. The largest investments both listed and unlisted look quite interesting and sentiment for micro caps has turned positive in the last few months. He obviously spends plenty of time analysing the market and investing for the fund. I would cut him some slack.

The market has been against him and he has invested in some duds, but that's the micro market.

He has supported the SP with both his own purchases and via the buyback scheme. The 12 month extension of the scheme will put a floor under the SP and if the 18.8m authorised are bought back and cancelled, this will increase the nav per share by 0.64c. This is due to the discount and the shares being cancelled at NAV. I assumed the shares are bought back at 16c.

Anyway, that's more than enough trumpet blowing by me on Alec's behalf. Am not a groupie by any means, I just think we should look at both sides of the coin.

GL

Wazz

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There's a management fee on assets AND a 20% performance fee.

The 20% performance fee is payable even if the fund underperforms against its peers or against an index.
It rewards luck rather than skill.
IMO that's what the market dislikes.

None, Not Held

Last edited by IndexInvestor: 18/03/24
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(20min delay)
Last 11.5¢		Change -0.005(4.17%)		Mkt cap ! $43.45M

Open	High	Low	Value	Volume
12.0¢	12.0¢	11.5¢	$4.313K	37.5K

Buyers (Bids)

No.	Vol.	Price($)
4	226060	11.5¢

Sellers (Offers)

Price($)	Vol.	No.
12.5¢	199192	3

View Market Depth

No.	Vol.	Price($)
4	226060	0.115
3	289481	0.110
2	228500	0.105
3	59990	0.100
3	365844	0.098

Price($)	Vol.	No.
0.125	199192	3
0.130	47074	2
0.135	175000	2
0.145	15000	1
0.150	200000	1

Last trade - 15.20pm 25/07/2025 (20 minute delay)

TEK (ASX) Chart

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