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<title>aktiencheck.de - Forum - Allied Minds</title>
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<title>Allied Minds</title>
<link>http://www.aktiencheck.de/forum/Allied_Minds-A116XC-t573210</link>
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<description>Allied Minds: share buyback, 
Allied Minds to launch $3m share buyback; portfolio company Spin Memory to liquidate
23 June 2021 | 08:02am
StockMarketWire.com - IP commercialisation company Allied Minds said it would launch a $3 million share buyback programme, and added that its portfolio company, Spin Memory had decided to liquidate following 'significant' liquidity issues.

Allied Minds' total investment in Spin Memory to date was $50.5 million, and warned that there was no guarantee that it would receive any capital from the liquidation proceedings.

The liquidity issues were due to 'challenges in securing new customers, alongside the impact of COVID-19 which significantly delayed the required testing of its development chip with ARM,' the company said.

'In light of these challenges and the significant quantum of capital committed to Spin Memory to date the Board of Allied Minds has concluded that it is no longer prepared to make any further investment into Spin Memory and [&lt;a href=&#034;http://www.aktiencheck.de/forum/Allied_Minds-A116XC-t573210&#034;&gt;mehr&lt;/a&gt;]</description>
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