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An interesting reference in the Research Note which appeared yesterday. "Following the appointment of CEO Lyn Rees in summer 2018, later that year Yourgene set out its strategy to create a significant molecular genetics business and deliver material increases in shareholder value over the subsequent 3-5 years." How many of us here remember the detail and timescale of that original plan? LR can clearly evidence he is pursuing the objectives as outlined, but believes shareholders would likely benefit most from approx summer 2021 onwards. Perhaps the Covid expectation has distracted PIs here, and further patience is required in order to reap what is being sown presently. I'm prepared to wait, along with the IIs. Now, wash your hands.
not sure what chart you are looking at cring, but we are about 17% UP since 12th Feb! As I said before you can buy at the same cost as the last placing. If you were quick enough you could have got plenty at 8/9p not long ago too. Looks to me like the ECG is very fit and healthy and going to get stronger imo!
@P3T3R Trust is not a static thing, but something we subconsciously review on an ever ongoing basis.
I neither trust/distrust LR/BoD but in the end of the day us PI’s put own money at risk for CEO to build/grow a company, and most PI’s will expect something in return, in shape of SP increase and/or dividend, and/or invites to partake in discounted placings etc. The company is debt free, we aren’t receiving divi’s, we aren’t invited to obtain discounted shares, and if I look at the 6 months SP graph, it looks like an ECG of a person who died 5 months ago.
So P3T3R in your view, what is it we can trust the CEO to do for PI’s ?
Natdan, I was toying with you, obviously would not ask as is, however I would be happy to ask a question around the subject, maybe a little cheeky to get a rise / put them on a spot. But I will make collate a list of questions that we might like asked. We have time, so no harm in eventually agreeing amongst ourselves a top 5 or so that we would like answered. If they are not prepared to take our questions that would speak volumes.
The management / BOD will make far more from their stock options with a rising share price than relying on an increased salary if they were to totally rely on acquisitions to build the MCAP. It is definitely in their interest to build shareholder value!
From the broker note posted earlier, it looks like circa 30% organic growth for the next few years - which should map to MCAP & SP growth. Any funds raised for acquisitions should result in additional earnings & MCAP.
Lyn appears to be pretty careful in choosing acquisitions that are good value , enable cross selling are are quickly accretiative to earnings.
I wasn't talking about employees, more the recent/other placing investors. Can't see them standing for that. To have a £500M mcap at 17p a share we would have close to 3 billion shares in the business. Maybe they will, but can't see it myself! Let's say they raise in the future at 17p, that another circa 2 billion shares, another £340m raised?? hmmm!
You ask of why they’d do that. As the CEO himself has mentioned the aim at growing the biz to £500m, I think we can rest assured that this objective is solidly manifested as performance metrics / KPI’s across the management team which i guess to a large extent will include the 56% insider holders. So I am sure bonuses for growing the company will include company-bought shares / share options thereby increasing the holdings of their staff. Other than bonuses, I also think we can rest assured that the remuneration packages across the management team will grow larger as the company moves from £100m to £500m value /ftse250 size. That’s all fine to a point, but thinking this could happen w/o LTH PI’s being given much back is somewhat depressing..... I mean, do they pay you a dividend, now they within hours can find new money to buy other companies ?????
why on earth would they do that as they won't get any wealthier either!! You can buy shares now at about the same price as the placing. If we won't make any money then neither will anyone in the recent placing.
For those of you awaiting a market cap of £500m, yes that may well happen. But the share price could well be as it is today, 18p and nobody will be any wealthier, exactly as it happened when we added £16.5m to the market cap the other day. The company clearly didn’t want the PI’s to partake in that particular expansion, which I think says a lot about how YGEN as of late is servicing their smaller owners. As with the governments 80 majority, the 56% insider holders can vote anything through without asking other owners. So bottom line, getting to a market cap of £500m is no guarantee of a penny earned per share. Simple math really. The only question really worth asking one self is this. Do you trust LR and the 56% of inside owners to remember you whilst growing !!!
Thanks JAdam, I kind of would have asked the questions tongue-in-cheek, face to face, perhaps to see if they would squirm a little. (Doubt it, they're hard-faced businessmen). On a virtual platform they would just laugh it off, don't really see the point of asking. I'm sure there will be far more probing questions other more learned posters will come up with. Oh, and it was AR who predicted 50p, not his father who had long gone pre Nipt.
You could ask how he intends to maximise shareholder value by balancing organic growth with acquisitions which tend to be dilutive. Does he have a strategy or target for ongoing growth by each means? Also, what is the outlook for the Cancer diagnostics business ... and the same for infectious disease business beyond Covid-19 (assuming there is a working vaccine at some point!).
IMO based on other company AGM's I've attended, just asking about the SP will get a stock answer that they can't control it - you won't learn much from the answer.
I'm not looking for doom and gloom, I was just interested and so thought if anyone wanted to learn a bit about the history. I am fully aware that anything to do with Vialogy or indeed anything that is NOT Yourgene today has no bearing at all.
Stop be so suspicious, I'm ****ed at the lack of info but I am also holding a large holding here and have no intention of destroying that - get real!
You're really clutching at straws for doom and gloom if you're going back to Vialogy days! All that was left of Vialogy was an empty AIM shell that Premaitha (now Yourgene) were reversed into to save the time and cost of creating their own AIM listing.
I am assuming this will be approx. mid-September and will like many other AGM’s be virtual with the ability to send in questions, I would like if I may get a combined list from the forum which we can then provide to Lyn via Walbrook, maybe, just maybe we will get some answers.
I will kick off the list with a few from Natdan as I particularly liked them, so am supportive. It would be helpful, if we have a particular board member that we wish to direct the question to, that we indicate this;
To Adam Reynolds: Why does he think LR the best CEO he has worked with?
Moons ago I recall Adam wanted to give back to private investors for the failures of his father in the Vialogy days. Is 18p a share job done, or does he expect 50p as I believe his father also predicted at some stage?
To Lyn Rees As several shareholders have been here for five years and longer, at what point would you consider PIs have been amply rewarded -18p a share? Or is your primary objective now to get the mkt cap to your target £500m, funded almost exclusively by private Placings and ever more dilution, prior to a predicted sale to a bigger player?
As an aside I was not invested in the Vialogy days so thought it interesting to look up a bit of the history, for anyone interested I found these 2 links (in this order) interesting.