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Not disagreeing with your general point but think the language could have been better including terms which reflect a renewal of (not new) partnership after four years - this would emphasize longevitiy in the relationship. But seriously, it isn't really worth worrying about - the main points is Lookers still continues to have faith in Trakm8's ability to deliver (they would not sign up to anything if they thought Trakm8 was a goner) and it is not worthy of an RNS - so not the big news we all want.
A good discussion. (I’ve been out of it due to moving house, which is stressful enough without also being a long-term Trak shareholder!)
My thoughts are that from a long-suffering shareholder’s point of view, we’re obviously always looking for real news, real progress, but in defence of the company the Lookers “news” does have a valid purpose in terms of marketing, i.e. getting and keeping Trak’s name out there. In this context, 4 years is a decent interval of time to wait before repeating a message for the benefit of a new set of potential customers.
JW won’t be able to say this in his reply, of course, so I’m saying it for him! (I’m assuming there really is nothing new here.)
Finally, it may have been Lookers who were the primary movers here, for the same reasons (i.e. marketing), and Trak have just gone along with it.
Thanks for asking - I am surprised that JW did not try to explain the difference but.........
Have a good weekend all (the 3 or 4 of you left)
As if on cue:
Reply received:
"Thank you for your input, [XXXX].
We will reflect on your comments.
Kind regards
John"
Decent enough reply.
Almost regret my whiskey comment ...hopefully, it wasn't read (although, I suspect it was).
Probably Monday.
Given where the SP is currently, the weekend whiskeys probably start at 9am, on a Friday in the Watkins household.
Reads well - I reckon he will come back to you. My prediction is "While I can see the confusion the original partnership was a voluntary arrangement between the two companies; whereas the new agreement is formal and will put our units into every vehicle leased"
Found his email from that time I sent a bunch of questions from us all prior to the AGM.
Sent the following, in this instance:
Dear John,
I am writing in respect of a recent 'Lookers Leasing' deal, secured by Trakm8 - as per the company website:
Https://www.trakm8.com/news/trakm8-and-lookers-leasing-join-forces
The accompanying text labels this as a new partnership, but to me as a long-term shareholder it sounded familiar. And it on reviewing old news, I found:
https://www.trakm8.com/news/lookers-leasing-partner-with-trakm8-to-enhance-product-offering/
Perhaps the old deal lapsed and this is something 'new' that Trakm8 has entered into, but my view is that this should be properly reflected in the news section of the company website - and also in press releases:
e.g., -https://www.businesscar.co.uk/news/2024/june/lookers-leasing-and-trakm8-announce-telematics-partnership
Thank you for your time.
Best wishes"
See if I get anything back.
You can email JW direct - he usually responds but you will never get a straight answer - I think he/they would just say it is enhanced. Let me know the result.....
There isn't now a dedicated IR email, I notice.
I have to say, I'm starting to question why I waded back into this mess.
Apologies for the negativity, but the Co needs to get the basics right. At best ,the news item is disingenuous, at worst it's deliberately deceitful.
Wonder whether it's worth emailing investor relations to clarify matters.
Perhaps the dishonesty (if that's what it is) prompted the selling...
Half joking but it's certainly a mystery.
Perhaps this is what the green FTSE award is all about - recycling
Joe Heidari wrote
"As part of our new stratagey to work with a select number of leasing companies, we identified Lookers as one of the most innovative companies in this space and their vision was 100% aligned with ours. Big thank you to our new leasing superstar Kerry Gowland for making it happen."
How do they not realise this partnership was announced years ago (and is still on their news page) - my only thought is the relationship is more concrete i.e devices will be installed as opposed to something optional. I am truly bemused.
https://www.trakm8.com/news/lookers-leasing-partner-with-trakm8-to-enhance-product-offering/
I don't think I've ever bought shares without a drop following, so this is true to form.
8p, I guess is the same price as the CLN (- the 18% interest they're all eating), so shouldn't complain too much.
I don't think so - unless there is major bad news I think getting 50,000 at 8p was quite good - but my track record here is not great.
Dare I jinx it futher, but hopefully, it's not a prequel to a horrible Friday RNS...
When I bought some the other day I wrongly assumed it must have bottomed out.
Jinxed it
Has dropped now - a result of a 50,000 sale
When I see the ongoing sells I liken it to wringing a damp cloth out for the last drops of water.
Yep, shame this contract has not been signed yet, and here's hoping for some chink of light in July (which if memory serves me, has always been underwhelming - leaving us hanging on for September)
Must be good news - in fact it's such good news that someone has kicked off the party by dropping 10,000 shares.
Good news is always accompanied by selling, here - if memory serves..
Been quite a few sells recently - quite surprised the price has held up without more meaningful news.
Still another week goes by without announcement, so nothing material must have happened.
We'll know more early July, I suspect.
GLA
On the note of connected devices I noticed their trusted whatever write up (in what I assume is some paid list) stated that we have 348,000 devices. Unfortunately, that was poor journalism as they used last year's figures.
https://www.360mediagroupltd.com/trusted-brands
Page 44
Yep, that's crazy it is spun as a new partnership. Phrases which acknowldege the existing partnership but reinforces a new era would have been best - but as you suggest - we don't know the details of either event, so I guess it is good news.
Let's hope it adds new connections rather than slows attrition...
One must also assume, the return of capacity should see connections up quite a bit in the next update.
Https://www.trakm8.com/news/trakm8-and-lookers-leasing-join-forces
This is hailed as a new partnership, but it sounded vaguely familiar and I found a similar news piece from 2020:
https://www.fleetnews.co.uk/news/fleet-industry-news/2020/09/23/lookers-leasing-partners-with-trakm8
I assume the old deal lapsed and this is something fresh that both parties feel it is worth their while entering into.
Got the gist thanks, the only thing I would point out is they do state....
"Under a separate agreement......."
Like they want to be clear that they were not obligated to buy the software - who knows.
Yep, waiting for the RNS. Hopefully the positive one......
Pressed 'post' before tidying up, but the gist is there, hopefully.