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Yeah. We discussed the OTC listing at the AGM and said as much.
Key points of the discussion were:
1. Agreement. There have been some trades via it but very few
2. It costs the company buttons so they aren’t too concerned however
3. They’re actively looking at improving the supply chain around it to overcome the timezone differences and the fact that quotes aren’t real-time hence the uncompetitive spreads.
Hope that helps!
Write-up of the AGM Q&A now on the company website: https://algwplc.com/wp-content/uploads/2022/06/Alpha-Growth-AGM-QA-Final.pdf
Agreed. There was nothing left unasked and we got very honest and detailed answers and explanations from the company. I’d whole heartedly recommend the next one to all shareholders.
I’m expecting the Q&A and Company Brochure to go a huge way to helping new and existing investors understand the company, the business model and help size the growth opportunity here.
Nice buying interest this afternoon.
With the AGM Q&A coming out this week, brochure next week if not before and closure of the acquisition when Regulators approve we are in for a news rich period. Don’t see us languishing sub 2p for long.
Yes. Very productive and positive session with GS spending 80 mins with us after we'd unanimously voted through the AGM motions. He was more than happy to spend the time answering questions and discussing the Group as a whole. It was also a great opportunity to meet a number of the other major shareholders and share views.
Broadly our discussions fell into three buckets:
1) "Explaining the business" - we talked a lot about the Insurance acquisitions, how their policies are currently broadly traditional asset based but that they will provide sticky risk-free revenue in addition to a channel to market the company’s life settlement products. He confirmed that completion of the most recent acquisition is imminent, and that anonymity of the seller was part of the conditions of the sale. We also discussed that both acquisitions are returning healthy profits in their own rights, certainly aren't distressed assets, and compliment the rest of the group.
The company brochure will be out before the end of the month and will be a big step forward towards making the company easier to understand for potential new investors, and existing ones ;) The team are however keen to time further updates to ensure that more positive market conditions lead to them getting the right bang for their buck.
2) "Having confidence in the business" - I challenged GS saying that before the PLAC acquisition we were told that it would allow the group to breakeven. Then on the announcement of the second acquisition we were told the same. Then more recently it was going to be the end of the year. He disagreed with this and said that the company already had a net in-flow of cash and MW said this was an area where they'd be improving the clarity of comms. I said it was important as shareholders need to be confident that they'll be no future raises to fund operational costs. There won't be and the company expects to be able to fund further acquisitions themselves.
3) "Sentiment around the business" We said that the takeaway headline being peddled on the open forums from the last accounts was "Company makes £1.5m loss and Directors award themselves £500k". As has been confirmed on here over the weekend, GS confirmed this isn't the case and the entry on the accounts in the non-cash account charge for the future options at 2.95p
So a great meeting and gives me a lot of confidence for the growth we'll see. Also the current share price means its not too late for anyone out there suffering sellers regret. ;)
For me the only issue is the awful timing. Irrespective of what the Accountants said I'd have been doing everything in my power to delay putting them through the books.
The salaries aren't excessive, the options were outlined in the IPO documentation and are granted at an 85% premium above the prevailing share price so I'm not going to lose any sleep over the BoD holding options at 2.95p whilst we're at 1.5p.
https://twitter.com/algwplc/status/1530211169771917312?s=21&t=5_gzwzIukUqg7bsTLUhsUw
It really wasn’t clear from the video when the accounts would be coming out end of April or later so we’ve asked the company the question.
If they’re already with the auditors I don’t see any reason to delay releasing them. Good to keep the news flowing.
Great to see the ongoing positive coverage and engaging with investors: https://twitter.com/algwplc/status/1509120431168663552?s=20&t=nXEqkfxMNT0CveVVJa08vA
Video and some new content posted here. https://algwplc.com/investor-relations/
Company clearly looking to make significant improvements to shareholder comms and openness with Q&As etc. Great news and looking forward to a significant and positive update before the end of the month.
So the major holders took part in the 2p acquisition placing last Feb to buy the PLAC, received 3p warrants then chose to sell down their holdings sub 3p? But haven't triggered TR-1 thresholds?
"1.5p is very possible now with no truth on fund news." Eh?
There's a clear legal line on what's acceptable on public forums re: publicly listed companies. Each time anyone posts here they are reminded of that:
"Important Message from the Financial Conduct Authority
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse. This could lead to an unlimited fine and up to seven years in prison. If you have any information, concerns or queries about market abuse"
If a company issues an RNS and says that they aren't going to do something then within hours someone is posting that they are going to there's two possibilities to my mind. 1. They're posting inside information (ha ha ha) 2. They are posting information that is "false or misleading and may constitute Market Abuse".
I'm not surprised messages are disappearing.