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At last. I wondered what on earth Ollie has been doing but today he or Kestrel have taken another 12,000 shares.
Completely agree, we're here before the herd, focus on the product pipeline and future revenue opportunities. Well done to those reading this thread and researching the company, next 12-24 months should be exciting seeing them grow.
Yes, a good update. Exactly what I wanted to see.
This is an emerging market, and I want ULS to spend now to expand and develop its product and get it into as many niches as they can. I want to see them putting that £23m in the bank to sensible use. It's a land grab, and ULS have a good product and a great management team.
ULS still under the radar of PIs, but it will come if the business continues to progress.
More good news. Apparently the losses are trimmed (not widened) ahead of expectations
A very creditable first half report. Still with over 23 million in the bank and no debt obviously. No surprise that loases have widened slightly in this transition phase. It has been a bumper year in the housing market and next year I guess will not be so strong for the market in general. Many estate agents are clearly already stressed by the shortage of housing stock at the moment. I understand one of their competitors has been subject to a cyber attack. I trust we are suitably protected in that regard. Looking forward although the market maybe a bit quieter they have proved the worth of this model and it looks set to be very successful in due course, whatever the market thinks about it today
I believe Kestrel are here for the DigitalMove upside. It should be bigger than Econveyancer once adoption has progressed.
Gresham House Strategic sacked Gresham House as manage of their funds, and moved them under the control of Harewood Capital?
Sounds like a load of petty infighting that has nowt to do with ULS.
Still, results due on Dec 2nd! I'm looking forward to a pleasant update. There must be something to give Kestrel cause for their continual adding.
This explains the Gresham house debacle
https://www.theaic.co.uk/aic/news/citywire-news/gresham-house-sacked-as-strategic-trust-follows-staveley-to-harwood-capital
Looks like Gresham House doing a bit of tidying and put their Uls holding in a different pocket, Harewood Capital. Is this a conviction stock. Keep fiddling with loose change in the pocket and hope it somehow gets bigger. Come on Ollie haven't reached you maximum yet!
Foxtons estate agents report strong trading in London and interestingly a strong recovery in mortgage broking. We are obviously still well under the radar but very similar in that respect to CNIC (I also hold) who are also under steward ship from Kestral holdings. We may not have the growth yet but no debt which is even more important in current climate. Also we have very high institutional holdings. Think we will see a similar rise in time.
I agree, a good update from ULS, exactly what investors want at this stage of the business: low loss levels and high cash reserves. ULS have a chance to create a valuable moat for themselves here, and need an aggressive strategy of expansion and takeovers, and it is pleasing to see the new CEO is doing this. The confidence of fellow board members is seen in the sheer number of director-related purchases.
This is a growing market, one that will only get bigger in the future as more and more parts of the house buying/owning process goes digital.
The share price might seem unexciting at the moment, but this is because the herd have not arrived. This is the ideal situation for investors. It is a chance for patient PIs to buy into the growth story and watch it unfold.
Pretty decent trading. passed 60,000 contracts completed.Hopefully that will be considerably increase next year but a good start. Half the market cap is cash now and although making a slightly lower than expected loss revenue actually up 45% on last year. Still seeing a buoyant market and lots of remortgages. Excepting there is a skill and staff shortage they have still managed to engage high calibre staff. I can see why Oli has been stashing away shares like no tomorrow, whether the market gets it yet is another matter. This modernising an essential service and they seem to be well o course.
I thought I was fully loaded until the share price just dropped then I bought 9000 more in 2 deals, probably go down as sells all my buying here has done
It is strange oogleflugal! Perhaps Olli is aware of some news that would stop him from buying because of insider trading rules
I can’t wait for an update I’m fully loaded now and just waiting patiently
Well spotted Waydan. Surprised there has been no RNS about it. Also Oli hasn't bought any more shares for three weeks. I mean whats going on? Should be update end of month better be bloody fantastic.
Interesting that we have now bought a small conveyancing company in Bolton (amity law) to use as a test bed to help build, pilot and evolve new digital products in a live environment. I see this as great news https://www.globallegalpost.com/news/listed-tech-startup-acquires-conveyancing-firm-to-test-products-1086081577
Its quite complicated. Is Oli going for the half century of share purchases since March 2020?
Are they likely to go private? From what I can see Institutional holders apart from Kestrel (28.5%)hold about 54%. Oli now owns about a fish of the company outright, but has an interest in 18 million as a Client and non exec director. We are in pretty good company with the likes of River & Mercantile, Gresham House, Herald, Schroder's, etc. So I think they have enough interest to not let it go private. I make that about 92% held between them. This is pretty tightly held stock. When she blows ......
The Pope's Catholic, bears defecate in the woods and Kestrel bought another chunk of ULS at full market price.
Market cooling off not a bad things, conveyencers complete for business, service matters. That's were next iteration of DigitalMove comes in. Hitting the market in the near future. Just patience needed.
Bod. Yes Mr Scott has made over 100 stock purchases since January 2020. He is cofounder 2009 and non exec director. I guess he also has something to do with CNIC through Kestrel which I also hold. Cnic has taken a while to take off but suddenly spurted about 35% in last few weeks, be good if that happens here, which I fully expect it too although I suspect todays fall was down to cooling house market. That won't stop people remortgaging etc. House transition is well overdue an overhaul. Made me laugh when somebody commented on lorry drivers being paid more than solicitors. Thats seems quite fair to me being far more productive and a much tougher job.
Oliver Scott
Non-executive Director
Oliver Scott is a partner of Kestrel Partners LLP, the Company’s largest shareholder, a business he co-founded in 2009 and which specialises in investing in smaller quoted technology companies. Prior to this, Oliver spent over 15 years advising smaller quoted and unquoted companies, latterly as a director of KBC Peel Hunt Corporate Finance.
Oliver has acted as Kestrel’s representative on various of its public and private investee companies and was previously a non-executive director of IQGeo Group plc and KBC Advanced Technologies plc prior to its takeover by Yokogawa.
You were a couple of hours early but, yes, the daily RNS of Kestrel purchases (two) has now been released.
Another 33,000 shares at full market price. They clearly have confidence :)
No doubt Mr Scott will be making another purchase soon, its been a good few hours since the last one
Another day another 12000 shares for Mr Scott purchased by Kestrel yesterday at 77.5p. The 22nd such purchase for clients and directors in the last 2 months.
Nice!
Good idea. I guess Kestrel are just about maxed out now so they can let the Sp go