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The ALGW year end could be completed in a fortnight due to minimal activity flowing through the books ( aside from the salaries of the outstanding leadership team)🤣. Waiting 4 months is likely to be a case of delaying the inevitable bad news for as long as possible. We’ll hear more jam tomorrow platitudes I’d suggest followed by options to themselves at 3p and a fund raise coming as a final boot in the proverbials for us mugs.
Agree, year end 31st December 2023 then 4 months to publish the accounts is end of April 2024.
Not sure what they’re referring to. I’m not expecting the FY 2023 final results to be until the end of April.
MSN Finance website states that earnings announcement for ALGW is due in 2 days
Just as an example of obfuscation, the jewel in the crown fund "BOAGF" has been dismantled as a limited partnership with SLIM, in the Cayman Islands, and repurposed as an Irish ICAV , based in Dublin, seemingly without SLIM's expert involvement? Is that not worthy of a proper explanation, rather than burying it in a broker note?
The company promised quarterly updates once which never materialised. I’ve also sent emails to the ir dept which have never been replied to and they clearly don’t like being challenged about their rubbish comms strategy!
The share price has collapsed which is a massive concern, and many long term shareholders are badly underwater. Selling and making a big loss on an investment is not a preferred option. The justified 'moaning' is due to the perceived absence of progress against the expected business plan and not being kept 'informed' except at the most basic level. It's just all very unsatisfactory.
"You won't be able to do that by moaning on an Internet forum" says raaydaar, moaning on an internet forum about some folk who don't follow his philosophy, and his belief in the leadership.
What are internet forums for then? Just for sucking up to the Board? One is entitled to publish a contrary view IMO.
Alma, the directors are indeed accountable and whether you or anyone else likes it or not they provide the required periodic updates in the form of the annual accounts and the interim results. They fulfill their obligations in that respect. Any additional information released by the company is because they are obliged to do so because such information is market sensitive or they choose to release information which they think shareholders may find useful and GS has fulfilled his obligations in all these respects.
I'd say that shareholders need to take some responsibility for their own portfolios and if they're not happy or concerned about a particular holding they should do something to allay or confirm those concerns and have the information they individually need to make an informed decision about their investment. You won't be able to do that by moaning on an Internet forum.
Good post Alma, my thoughts exactly!!
Raaydaar, why should it be necessary for the shareholders to indivually "reach out" to the directors of a public company for a private chat? The directors are accountable to the shareholders for the provision of periodic information on the progress of the company's strategy. No good saying they are using broker notes, which are paid-for puff pieces. It's the Chairman's job to keep shareholders onside and he is manifestly not doing that. The SP record is not that of a growth company.
How can a shareholder make rational decisions about his holding if he has no knowledge of what is going on? He sells, doesn't he ? And selling is what is going on right now.
Just a matter of waiting, when your capital could be better employed elsewhere, is not good investing, surely. Any bit of SP is sold into relentlessly.
But it's sunny in Bermuda, so why give a toss about the Limeys, eh?
Have you tried reaching out to the company and having a chat with GS? It's frustrating that we've gone so long without any concrete news and that the SP is stagnating where it is. A few of us had a chat with GS and Neil not too long ago and I'm happy that things are progressing. The whole team are working hard, the AAACX fund has had circa $19 million additional funding from Institutional investors and as we know from the November broker uodate that they were in the process of doing DD on another acquisition.
They'll release news as and when they have it, just a matter of waiting.
I don’t think GS is up to the job here.. it’s becoming clearer by the day.. dare I say lifestyle company! Certainly starting to look that way imo.
The more the last broker’s note is read, the more obvious it becomes that it was a struggle to dress up the core content, constantly stressing it’s based on what management told them. Lipstick on a pig comes to mind, and I bet they can’t wait to produce the next one! One thing was clear though - £2B AUM was not just a sexy target, it was essential for the business to be properly viable.
There will be another broker note in May, telling folks what they are paid to tell them.
No one ever believes a broker note anyway. That why there is Zero Growth instead Alpha Growth.
Insurance is a boring business which attracts no one if it is fronted by a penny share.
What on earth happened to the core plan of building a longevity asset fund?
There’s zero buzz around this company.. the PR is shocking, and with the radio silence on top.. there’s barely a heartbeat!
When will I learn. To get out of this every time it his 2p. I never sell. The fund is obviously not performing. To be this down. Billion dollars fund. Rubbish
1.15 at time of writing. So much for maximising shareholder value…
Organic increases even..
Given their own target of reaching 2B of AUM BY 2025, they have eleven months left to acquire 1.3B worth via M&A. Of course they will… I’ll be interested to hear about the level of generic increases of AUM for those businesses already taken over - if they have.
Yes, Gobind is still on the planet, he has relocated to Bermuda to escape from all those pesky complaining shareholders.
So, the warrants overhang wasn’t the cause of the SP stagnation!
On the one hand I agree, on the flip side, issuing an RNS that can't cover the interesting forward looking stuff and doesn't announce something strategic might be perceived badly by the market, and those more mundane RNSes tend to result in negative share price impacts on my experience with other companies. So maybe that's a factor in the board's thinking.
Yeah I've had that debate with him a couple of times now. Broadly their view is that the broker note contains all the information we'd get in an operational update with the broker having extra scope to include forward looking estimates etc. that the company isn't allowed to issue themselves.
Don't get me wrong I like the broker notes and there's loads of really important information in them but I'd rather we had both.
Just an operational update from the big man via an official RNS would do tbh.. lol