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That's an interesting thought re the timing of the AGM. However, Trakm8 is well versed in vague RNS, so unless there's a material change in the relationship or Trakm8 wants to benefit from a nod to the AA on the 26th (perhaps re a launch date for connected car), then I wouldn't read too much into it.
GLA
https://driveably.com/
Not expecting too much from the Aa contract think that will be more H2, could not really see much on the aa website. Hopefully they are going for big launch soon.
Will be interesting to see how the new sales team are doing and if connected vehicles are north of 300k yet.
Plus then the other material insurance contracts. The market cap is so low.
With the AA's interim results due on 24 Sep, this could explain the timing of TRAK's AGM two days later.
I'd like to think it's because TRAK could not have said much about the relationship before the 24th, but will not be similarly constrained on the 26th.
I don’t like the sound of ‘private company’. However, I hope you’re right about the reasoning behind the austere looking report. I actually prefer it. Flashy graphs and pictures are often used to obscure reality.
Guess, we’ll know more on the 26th, which is as someone pointed out late by Trak’s standards.
Anyone going to the agm??
I see the AGM has today been confirmed for 26 Sep at the company's offices.
Good to see that they are not wasting time and money organising an event in London. At least in Coleshill attendees can get there by car.
No expense has been spared either in producing an uncharacteristically austere Annual Report. I suspect this is the (positive) influence of the Microlise director (whose Annual Report is similarly unflashy) : why go to town (in more ways than one!) for what is now a virtually private company, with only I believe around 25% of the shares held by PIs, and with no need to attract outside funding at this time? Indeed, could this presage a takeover.....?
Last year, the AGM was held in London on 12/9/18 after notice was given on 20/8/18.
This year, we're still awaiting the notice, so the AGM won't be happening till at least the end of September. I imagine they want to delay it until there is something positive to say about connected car.
When is it??
Anyone going to the AGM?
Well august is almost done.
Sept will be interesting. This company is basically valued at zero at the moment. Market cap of £11m . They spend £4 m a year in r and d. Paid £8m for route monkey a few years back.
Mircolise turnover £50m per annum and make a decent profit from their latest accounts.
Mr mircolise will have a plan interesting 12months ahead.
Must make sense to fully combine the businesses and increase margin but taking out duplication.
One bod. One hr. One finance. And pick the best of sales team etc..
Roll on sept and lets see what we get.
Indeed.
Not sure what to make of the silence.
Seems rare this BOD RNSs contract wins these days; instead parceling them into Trading Updates. Accordingly, it's quite possible new business has been won and that the company is ticking along it's previously stated trajectory. In short, the old adage 'no news is good news', may apply. However, as we know from past experience, it may not.
The more fridays that go by the better in my opinion.
Let's hope tomorrow is another silent one.
As we enter August, still no real news. Increased advertising from the AA is vaguely positive, though not directly relevant to connected car. Let's hope the next quantum leap in the SP is up, not down.
I thought the same Nosugar ..but here we are!
Agreed. However, for those, like myself, who have taken the risk and bought heavily at current levels, £3 is no longer required. I'd be very happy with 90p, which of course is still a long way off and may never be achieved. Big risks involved here, but if market expectations are achieved this year, then we may see higher prices.
I wonder whether the move upwards this week can be explained in part by the media focus on the 'Road Safety Action Plan' to be published by the Gov today. There's a focus on young drivers and driver safety more broadly - but significantly, various proposals would seem to require data and vehicle tracking. Perhaps this will shine a light on our sector, once more.
Still a few out here waiting for the Trakm8 USPs to finally bring in the bacon ... Sadly the £3 heady days are long gone
Hi knowbody
Looks like us you an me old bean.
I really thought it would sit at 18p until sept. Shows what i know.
Agreed. I saw they are going into ireland.
Be good to earn some euros.
Nice fairly weighty purchase outside of the spread there!
One interesting is the ability for the aa to offer insurance based on individual customer data.
If they can "bundle" car insurance with membership then people will have a strong reason to stay with the aa.
It will be a win for the aa. I will give them a ring today and see if i can sign up.
The article is from the beginning of June.
https://www.msn.com/en-gb/cars/news/aa-plots-new-smart-breakdown-connected-car-service/ar-AACn7XZ
Which advert? Apparently, the red dwarf advert isn’t to do with Trak. Although, I think it’s a step in the right direction.
The AA is now advertising the new service.
Share price seems to moving on very thin volumes the yr on yr metrics are now likely to be positive.
Next news should be interesting.