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Kestrel added again today. 15,000 shares at full market price, bringing their holding up to 28.05% of the company.
Clearly they see a decent rise in the share price from here otherwise they wouldn't continue to sink in so much money.
Non-exec director Mr Scott, who is a partner at Kestrel, must have inside knowledge that this is a business on the up and up, and is willing for Kestrel to continue to invest at these prices.
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.
River and Mercantile Asset Management LLP Discresionary clients grab just under 5% of ULS
Once they turn on the revenue tap from DigitalMove, this should see reoccurring revenue and software business multiple value applied, way to cheap here but let's have patience and let them deliver. Eventually the market will acknowledge the new direction. It takes a while to completely transform their tech stack, but I just don't see anyone competing with them in this segment and scale.
Hi Aim. They have half their market cap in £24 million cash . They actually have total assets of £34.8 million. That vapes the business at under £14 million. I have just looked them up on Facebook to see some great testimonials from solicitors using digital move and as of yesterday in the last week it looks like number of transactions has gone from over 50,000 to over 53,000. Had a little top up myself!
The strategy around DigitalMove is completely ignored by the market, eventually it will get recognized, now is the time to buy when no one is talking about the stock. Patient holders here will get handsomely rewarded imo. What was it £1.6b market opportunity they are going after and building A grade software platform. Market might want revenue / adoption evidence but if you wait it will come imo. Those in the know are slowly accumulating. I.e. Kestrel and me :)
I don't think you can take a handful of reviews by inadequate serial moaners on trust pilot as having much significance. 'Richard' has written 7 reviews on various companies all scoring 1 star in his opinion. I used to supply a restaurant which got a review about how bad their toilets were. They were brand new and only open a couple of days. Never thought to bring a complaint or draw attention of a problem to the proprietor which most normal people would do. The food there was fantastic, no mention of that. Sadly closed now, although obviously not because of one stupid review.
Don't get me started on the appalling service and outrageous charges of solicitors. Then they have the Law society to cover their useless arsees too. What I don't understand here is how come Kestrel keep buying multiple thousand of shares , while retail investors sell a few thousand and the sp has tanked 25%.
ULS Technology plc (LSE:ULS, "Company" or "ULS") received notification on 26 July 2021 from Kestrel Partners LLP ("Kestrel") that on the 22 July 2021 and 23 July 2021 it purchased for its discretionary clients, 120,653 ordinary shares of 0.4p each ("Shares") in the Company at an average price of £0.75863 per share. The notification also included the matters set out below.
Over 50k transactions and few bothered to give negative feedback which is mostly directed at the solicitors using the platform. Anyone wanting solid overview on the company and their roadmap I suggest investormeetcompany presentation.
Current software version is first iteration and provides digital starter packs. A lot more to come. There will always be those preferring paperwork and telephone calls but times change.
The platform will be A grade I believe once fully developed and the industry is in a serious need for it.
This was mentioned on the last ULS Tech . "Investor Meets Company" presentation and they said they said that they are getting 70% of users giving good or above approval which is not as good as one would like, but moving in the right direction.
If they've rushed out the software ie the bugs described on trust pilot looks like there is work to do, but they have been building up the team and recruiting new execs.
In addition, they do say Trustpilot has issues with the validity of it's reviews ie a lot are fake, although must admit the ones listed look like they are valid.
Looks like DigitalMove is not great https://www.trustpilot.com/review/digitalmove.co.uk
Looking at their recent hires ULS are completely transforming their technology stack. Moving onto cloud and micro services. This is to make them a lot more scalable and improve time to market iteration timelines.
I expect Econveyancer to grow this year. The major upside from DigitalMove is likely to be seen next year imo when they start monitising it.
Here is their latest ULS description taken from their job posting.
"We are now going a step further with the development and the launch of the next phase of our customer focused online platform, DigitalMove – a centralised digital platform for everyone involved in the conveyancing process to communicate and collaborate, from future homeowners, conveyancers and lawyers to lenders and brokers. This home platform joins up the entire home buying and selling process right up to completion and beyond, making that process easier, quicker, safer and more transparent."
That's a game changer for the industry.
pretty dead market so if PI's need to sell not many buyers around. I guess Kesterel would have bought Octopus holding, so that wouldn't effect the sp much. Now Mcap worth over half in cash. I guess the wage bill is going up as the redesign the business. Would hope to see significant revenue update soon though. Just a question of hanging in there now and ignore sp till news.
Kestrel are still buying, they must be very confident in ULS. The more the price slides the more they are loading up.
Apparently Octopus fully sold out in recent weeks and days, probably fully exiting on results day and causing the drop. Not sure where their 2.7% went but holders in that fund appear to confirm they have divested ULS investment. They were in since IPO at 40p.
Amazing isn't it . A few thousand shares get sold after results confirm update and it tanks. Kestrel buy 99,000 shares for directors and it goes up 2p. Makes you wonder.
Kestrel adding again is good to know.
Now at 27.41%
Presentation in case anyone missed it: https://youtu.be/H7J8OLbLUTY
Same happened with EQLS last week. There CFO increased holding the following day, let's see if management or board load up here. Volume definitely interesting. Potentially Octopus fully exiting.
Unfortunately it is normal. Same thing happened when Cohort released good results last week. Give it a couple of weeks and it should be back up.
Great buying opportunity.
Strange indeed, I wonder what people were expecting :) Used this opportunity to buy more.
Strange market reaction. Lets hope a better reaction to current Webinar. The delayed results are pretty much as the May update when the market reacted by going over £1. Now those results are confirmed it goes down 20% from that high.
Another impressive hire.
https://www.financialreporter.co.uk/finance-news/uls-technology-appoints-chief-commercial-and-growth-officer.html