Good to see @BkrDzn buying PVL on-market on behalf of Capital H, albeit only in small quantities. It is reassuring to see that Capital H remain positive about this one. I certainly am. 2023 is shaping up to be a pivotal year for PVL with the "expand horizons" strategy pillar (with discussion around a move into commercial advisory and funds management revenue) plus solid progress in the underlying portfolio with a recent ASX announcement confirming that NTA is rising... If we see a handful of the portfolio companies move through new priced rounds in 2023, we'll inch closer to the 20c+ options targets for management which expire end of Dec 2023. I hope the team hits it; they'll very much deserve the financial reward if they can make it happen (given the share price currently stands around 5-6c/share).
A little quiet here at the moment, but interesting to note that PVL is currently trading below net asset value. PVL has circa $6m AUD cash on hand and an audited portfolio value of circa $3m AUD, for a total net asset value of circa $9m AUD. That compares with a market cap of circa $7.5m AUD at the moment. It is a very illiquid stock so I suspect this one may rebound hard towards 10c+/share once the macro volatility settles. Also worth noting that PVL has minimal quarterly cash burn given the team has elected to take performance shares in lieu of a cash salary; very smart move.