The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
https://www.lse.co.uk/rns/YU./change-of-adviser-vzylow141rfx144.html
Yu appoint a new Nomad and sole Broker, Liberum Capital, to replace SP Angel. SP Angel are generally regarded as one of the lowest quality Nomads on AIM, and the language in the RNS ("delighted to announce") suggests that Yu feel Liberum is a significant upgrade.
Certainly the sp has been languishing when the underlying business suggests strong performance.
They certainly have impressive CVs. If DX were struggling, I wonder if they'd have been able to recruit these guys?
The health of the company's business is excellent, and progress however slow is being made in getting the audit done.
As frustrating as it is to be a mushroom PI, it does seem the pieces are coming together...
On the other hand, with high inflation, debt will be worth less...
Miton Premier have a good track record of backing growth companies.
But someone is not fulfilling their duties to the market. There is no way Miton bought 13.89% on the open market in the past couple of days without the share price nudging up. So either they have been buying small amounts for a long time and not declaring as they passed each %age, or they bought the holding off another major holder, who hasn't declared they sold out/down.
The RGO shareholder's page on their website has already been updated to show Miton at 13.89%, so does anyone have records of previous major shareholding registers? The Wayback Internet machine isn't working for this page.
https://riverfortglobalopportunities.com/shareholders/
Totally agree, Sparky. The last (brief) trading update on 26th May mentioned that the first 4 months of revenue was up 81% compared to the same period last year, but stated that they expect full year trading to be in-line with market expectations.
I feel the YU management tend to undersell the company's performance (imo, which is way better than overselling it), and are leaving some wiggle room to outperform those expectations in the July H1 trading update.
I put my money where my mouth us and I topped up today.
Re: directors not being re-elected.
I can't imagine basic PIs have a huge amount of knowledge regarding which board members are performing vs. which ones aren't, so, based on the large %age of votes against some of the directors, I am thinking that this is down to large/institutional holders.
Either they are much more actively invested than passively holding in funds, or possibly someone is angling for their own person being given a board seat.
Just thinking out loud here, but I am very pleased with ITX's progress. A happy LTH here.
The 2021 Annual Report states (in several places) that future surplus cash will be used for strategic M&A and investments.
I wouldn't expect dividends in the near or mid-term. This company needs to grow to make best use of its efficiencies, rather than distribute it to shareholders.
https://www.lse.co.uk/rns/RGO/final-results-skiyotbbfwuzuyc.html
Let's not hide this away in replies, let's give this its own thread :)
Now we know!
It's the classic leaks in the City, those with inside info getting in ahead of today's "ahead of expectations" RNS!
https://www.lse.co.uk/rns/RPS/pre-close-trading-update-88hbobj0lyfsi93.html
Everyone looking for negatives in every press release, it's not specific to GW, so the share price gets hammered.
What you can't see is the recent expansion of US stocking and the massive Horus Heresy release, which will be shown off in H1 2023, then 40k 10th edition in summer 2023.
I'm happy to sit and collect divis and ride this all out.
Serious investors knew that the Annual Results would "disappoint" in financial terms compared to the previous year, and the reasons why, so the few people selling out were panicking PIs.
The real test will be the next set of figures in July, where we will see the "recovery" of the figures.
Certainly the utter failure of the board to resolve the matter internally, relations with Grant Thornton, the failure to appoint another auditor in a timely manner, and the poor PR over the whole affair, would point to failure of leadership, so someone should be let go. But as we are in the dark, we have no idea who. The buck stops with the CEO though.