Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
If you got that from reading the RNS then that would appear to simply be a statement of holding. CAM have held nearly 2% of the company for awhile.
I strongly urge everyone still holding their shares to submit a proxy vote against the re-election of the directors. Most people hold shares with their nominee (their stockbroker, e.g. Hargreaves Lansdown Nominees Limited) so you can contact them and instruct them to cast your votes against the re-election of the directors.
Finally, should anyone agree that this company is being destroyed by hapless management then please message me as I am putting together a consortium of shareholders to push the board for change and welcome all support.
Certainly positive interim results and I'm glad they offloaded the Singapore property - bad idea and it cost them. However, sometimes you have to cut your losses.
Also, I have seen a marked improvement in their channels to market. I think the Urban Outfitters move is interesting and could be a template going forward.
I get the strategy with the 'experience' approach which can then prompt purchases of ALY products - I think it is high risk though.
Look at the share price over the past 5-10 years - we have had these "this time it is different" periods before with sharp spikes in valuation followed by a slow grind back down.
I came back in at 5p to average down but I'm certainly not betting on this one being a straight line up from here on out.
Glad to know there are other disgruntled shareholders.
Have you attended an AGM? I would be interested to know the general atmosphere at those.
The company is now valued at c.£30m and this is based on assumption that value continues to be destroyed which is not inevitable under proper leadership.
Looking at the ownership, one of the big issues is that 60%+ is owned by the Chairman and Malayan United Industries.
That said, Ruffer owns 5% and they are British active fund so I'm surprised they are not making moves on the board.
You would have to imagine - given the current state of affairs - that a significant minority of shareholders could be motivated to demand change.
interesting article. I'm not sure how they will fund over 100 new hotels over the next 5 years... ALY already has its fair share of debt. It could well mean dilution.
I have no problem with this segment of ALY but the strategy for me looks undefined.
I think the major hurdle is the close ownership of the chairman + MUI will mean change is hard to implement.
Quite clearly the board have overseen and continue to oversee destruction of value.
A prestigious brand that has been poorly capitalized on with all kinds of non-core activities. It owns property it could offload, for one.
The Singapore connection needs to be cut.
I do wonder why the institutional investors have not taken more action. With effective leadership there is so much potential for this company.
It needs a proxy contest.
Good analysis and I think you are spot on with regards to the company's future being dependent on a stable Europe. Concerning loans and liabilities, some research into SSTY's cash flow would be needed to see whether liquidity is a potential issue but the nature of the business should mean it has a steady flow of capital. As of today they have just acquired a lease for a new hostel in west London which looks to be in yet another strong location. N.B. I did not buy any stock in the end but continued to keep my eye on it.
... saw this stock fall to 240p. Is it really justified to fall beyond that now?
New leadership, all-time low share price for a decade... I think there are lots of reasons to feel positive. My reservation is that Hornby trains are bought, in large part, by older collectors who grew up with them. Sadly, the reality is that this generation of baby-boomers are dying out and I am not convinced the brand has appeal to the younger generation. US sales look promising, these old British brands always do well in foreign lands. My suggestion: Make a deal with Lego! They have the Midas touch.
I thought I'd share my personal perspective on this. I actually lived by the London hostel for a year and (given the area - it's a little rough!) was amazed at how good it looked and how many people, and coaches, would come and go. It certainly seemed to be doing a roaring trade! This was in 2013; I have since moved. I happened across this stock and was pleasantly surprise - I'd never thought it would go public but I'm glad it has! After a bit of research, I saw they opened a hostel in York - my hometown! I recently checked the new hostel and it was full of customers and looking good. They certainly have superb property. Also, being familiar with both areas, these guys clearly understand the property market as both were in highly central positions with great transport connections and close proximity to tourist attractions. All in all - I'll be going long on this one.