Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
I went quiet here because it has been causing me such concern. Haven't been able to look at it. I accepted it would get worse, but I never imagined it would go this badly wrong and certainly not this quickly. HeresHopin I hate to say it but what you say resonates with me, I think you are right.
This is, entirely, my own *personal* belief - if you are looking for something more empirical, you should do your own research - I think at the prices we are invested at (personally, sub-250), we will be significantly rewarded here over the long term.
YOU BLIND BIGSMOKE?
Shut up Monica, even the Poundshop would struggle to sell your drivel. Even Pesosland would avoid, if there is such a thing.
JTD, thank you for your perseverance and continued hard work in talking some sense - I haven't been posting but I keep reading [not Monica's drivel mind, I love to gouge out my eyes with a butter knife when reading her posts, it's less painful]
My post below is a detailed explanation of the procedural side of what's going on here, for others who might read your posts and panic at comments like " dark, eyebrow-raising, alarming red flag," when that isn't the case.
Those resolutions are, fundamentally, procedural, and in fact very boring.
Whatever your broader, normative fears are in relation to equity raises, the AGM resolutions here are routine.
Nothing to go all war and peace on.
Yuri I really struggle to understand where you are going with this:
- There's no talk of an equity raise, they've explained in detail why not, several times;
- Your concern is basically the risk of equity raises and dilution for any company, a concern which would follow you in to all of your investments;
- Re the "approach" with other companies that you describe, I've had this with some I'm invested in and some that I sold when it became clear they were just trying to print cash via the market. This isn't the case here. You concede as much stating "not like with MANO," so we are singing from the same hymn sheet, there's not a problem here?;
- You don't seem to be separating out the normal-course-of-business resolutions from your broader concerns about equity raises?
- There's no fairness conflict - what they are doing is a routine/ standard corporate governance move that we see the vast majority of AGM resolutions?