Secure Trust Bank Research Report
Small UK bank with an excellent lending history, long runway for growth, and dirt-cheap valuation.
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A collection of 134 issues
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Firm Returns Weekly - TMI, WBD, TBLD
Factors impacting the dry bulk charter market; Paramount merger talk; and Verses Evil shut down.
tinyBuild equity raise
tinyBuild has sent out a circular with the details of the equity raise. Regrettably, it looks like the dilution is going to be around 50%.
Firm Returns Weekly - Newsletter overview, and updates on TMI, WBD, and TBLD
TMI's half-year report and trading update, WBD's podcast deal with Spotify and a strong start for Wonka, and a positive response for Deadside's v0.10.0 update (TBLD).
Firm Returns Weekly - Four Mile legal ruling upheld (ECOR), Max in Verizon bundle (WBD), Vessel sales (TMI)
A good result for ECOR in its legal dispute, Max bundling and new releases at WBD, and higher rates and vessel sales at TMI.
Important tinyBuild update
Things have taken an unfortunate turn for the worse at tinyBuild. The company is facing a liquidity crisis and looking to raise equity.
Firm Returns Weekly - Aviva to acquire Optiom, David Zaslav interview, Arkham trilogy switch release
Aviva to acquire Optiom
On Monday (27 Nov), Aviva announced the acquisition of Optiom O2 Holdings Inc - a leading provider of vehicle replacement insurance in Canada - for total consideration of c.£100m (c.CAD$170m).
This should bolster Aviva's existing Canadian operations, and move them closer to their
Firm Returns Weekly - tinyBuild (TBLD), Warner Bros Discovery (WBD), Aviva (AV), and Fuller, Smith & Turner (FSTA)
tinyBuild
Broken Roads release delay
Broken roads was scheduled to release on 14 November, but on the 8th they announced it would be delayed until early next year.
There was still some confusion because they forgot to change the release date on Steam, which resulted in the game appearing in
Firm Returns Weekly - WBD Q3 earnings, SAG-AFTRA strike ends
Q3 earnings
On Wednesday (8 Nov) WBD published their Q3 earnings, covering the period ending 30 September. Overall I came away pretty positive, but the market may have disagreed.
There's been quite a lot of talk about fears of a weak advertising market in 2024, but as far
Portfolio changes 09/11/23
Firm Returns Weekly - TBLD, Investing Approach
tinyBuild
Slime 3K
On Thursday (2 Nov), Slime 3K launched in Steam early access for $4.49, including a 10% launch discount. There was also cleverly an additional 20% discount if you owned Despot's Game, which has helped to drive up sales of the original entry in the