Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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I see Scooby mentions Lloyds as a possible takeout candidate which is a perfectly reasonable possibility with the CEO 's banking history. Lloyds desperately need a legitimate area to gain market share and with curtailment of investment activities for banks ULS would make a perfect fit to cross sell mortgage, insurance through Halifax, Bank of Scotland and themselves
Last 5 years show same slight reduction of shares on Stockopedia.
i.e. No dilution.
Company has been generating FCF through its business + sale of conveyancing platform.
Impressive.
Saying that this is all obviously just their ambition, execution and delivery remains to be seen. But I think the upside is significant and they have the funding and team to deliver it. So worth keeping an eye on.
Agree there are many other smaller player's solving large number of issues that exist within conveyancing and the wider home move market. And agree the challenge is adoption and scale.
This is why I like DigitalMove, no one has successfully provided complete e2e customer focused solution where all stakeholders involved in the process can collaborate, manage cases and get access to solutions such as online ID verification or source of funds etc. And by default provide effective status notification to their clients. ULS are taking completely different angle and building an interface/platform for all stakeholders to feed into. They don't plan to rival Thirdfort, but potentially hook up their services into DigitalMove via revenue share agreement.
You say they will miss the boat but DigitalMove has already processed over 50k cases.
For all the large / medium size conveyancing firms out there. How do they become more efficient and offer better service to customers? would they sign deals with 10 different service providers to solve 10 different issues or sign up to DigitalMove and get it all in one place? That's where I think they are going with it. I don't think they need to be in a great rush. Develop A grade software platform at a competitive price point and then hit the market. They are in a better position to achieve scale than anyone else imo.
Lawyers are spoilt for choice when adopting this type of technology and are doing so in droves. Businesses like InCase, Minerva and Thirdfort are romping ahead. There are loads more on their way. People think the tech is the hard bit, it isnt. The hard bit is adoption and I dont see anyone in this market selling or pushing this product, and only a limited number of users. This is a massive risk for this business and a huge gamble. The CEO needs to do something quickly or they will have missed the boat in this market.
As stated, would not surprise me if Lloyds or equivalent - makes a move on ULS.
https://www.fstech.co.uk/fst/Lloyds_To_Buy_Embark_For_390m.php
Also, Lloyds are adopting Trufin's Satago platform and have been trialling it for the past 7-8 months.
As it stands, ULS is too cheap which makes it a ripe take over target.
That's just the first iteration, market either asleep or wants to see adoption evidence. It will come. In the meantime let them grow eConveyancer further and progress DigitalMove upgrade. Sector needs DigitalMove and it's coming.
"Compared to other professional services, the legal sector has historically been a slower adopter of technology... along with minimal time to explore the adoption of new technology and learn new tools.
Today, thankfully, the legal sector is catching up to other professional services sectors. However, the sector is still facing challenges that demand rapid attention and adaptation. Client expectations are changing as lawtech is providing a more enticing customer experience."
Our product DigitalMove allows your clients to digitally sign documents on their desktop, tablet, or smartphone device, & provide ID from the comfort of their own home.
The DigitalMove platform removes the need for email communication between stakeholders, leaving fewer opportunities for fraudsters to strike, with direct and secure communication for customers with their case owners, through their secure webchat facility.
I reckon this will get taken out at this rate.
SP is below support.
Have bucket loads of cash.
EV is £26mn = joke.
New top management.
Digitalmove potentially the next big thing in proptech with increasing transactions and proven tech.
Gresham House - when interviewed back by Paul Hill, around 6 months ago mentioned that Uls would be an easy target.
A 50%-70% premium given their tech by Lloyds, or Rightmove etc would not surprise me whatsoever.
Such a premium would merely get it back to near the intraday highs it had a few months back.
Everything is up for grabs at the mo. Private equity are swimming with cash.
End of stamp duty has not affected sentiment towards Foxt, Rmv, Blv. So why SP is dragging its feet - no idea.