Member Info for Dar-

Good morning all,
And I hope you are all well, like myself you are getting bored. However I degress I had a good holding of shares in BOWL , towards the end of February I decided to sell the majoriry of my shares in various companies, with regards to BOWL I did reduce my holding but I have retained a few shares to monitor the SP, it is higly likely that I will buy BOWL in due course.
As to when and what price I do not know. That could b £1, 70p or 50p. Not in the market for second guessing. BOWL are a stong company and have an excellent business model.
Keep well
DAR

Hello all,
I have just received the annual accounts and I have topped up my holdings, in my opinion, I will hold for a go while yet, for whilst the SP may retreat following the divi and special divi, this will a temporary pullback. The accounts suggest that Hollywood Bowl will continue the impressive growth for at least two years.
Please do your own research
Best regards
DAR

Hi Matt, As I said before RST is a solid company and your year end target of £5 is most certainly achievable. Best wishes for Christmas David

Hi all,
On the 12th August NTG appointed a new chairman --- see below.
Northgate plc ("Northgate" or the "Group"), the leading specialist in light commercial vehicle hire in the UK, Spain and Ireland, today announces the appointment of Avril Palmer-Baunack as Non-Executive Chairman with immediate effect.

Avril has more than 25 years' experience in leading businesses in the automotive industry in a number of senior Executive and Non-Executive roles.

Correct level of experience plus a very good dividend in September, IMO the price should recover

Hi Matt,
I am sure you have seen the interim accounts issued on the 31st July (brief summary below)
Financial highlights*
· Group revenue up 15% to £106.2m, including organic growth of 3%
· Group adjusted profit before tax up 17% to £20.1m (statutory PBT £12.0m, up 30%)
· Group adjusted operating margin up 60bps to 21%
· Adjusted earnings per share up 10% to 13.1p (Basic EPS 7.8p, up 28%)
· Document Management revenue up 15% to £80.4m; adjusted operating profit up 22% to £21.5m
· Relocation revenue up 13% to £25.8m, adjusted operating profit up 4% to £2.7m
· Operational cash conversion of 115%, reflecting strong levels of operational cash flow and a material reduction in exceptional costs to £2.0m (2018: £4.3m)
· Net debt at 30 June 2019 reduced by £16.3m from year end position to £95.0m, with leverage reduced to 1.8x adjusted EBITDA within the normal target range 1.5-2.0x (FY18 2.1x adjusted EBITDA)
· Interim dividend per share up 20% to 2.4p
I was impressed that RESTORE filed these accounts six weeks earlier than last year, apart from the fact these accounts were impressive.
Your target of £5 is certainly looking good. Definitely HOLD
Cheers
Dave

Hi Transan,
I assume you mean Steve Smith is a former chief executive of Northgate (he left in 2010). He worked for the group for two decades and during his time as managing director of vehicle operations and subsequently group chief executive, Northgate expanded from a base of 2,500 vehicles, located mostly in the North East of England, to a fleet of 109,000 vehicles across the UK, Ireland and Spain.
I don't know a great deal about Steve Smith but I do know he has retained his shareholding but has also said that he wants to build his "portfolio" of NED's.
Perhaps NTG need a hands on Chairman, just a thought!!

On the 28th March there was the following RNS "Northgate plc ("Northgate", the "Company" or the "Group"), the leading specialist in light commercial vehicle hire in the UK, Spain and Ireland announces that last night Andrew Page informed the Board that, after over four years with the Company, he will step down from his role as non-executive Chairman and from the Board with immediate effect."
In my opinion the sp of Northgate will remain subdued until a permanent Chairman is appointed. I hold NTG and will continue to do so, the recent accounts accounts infer that NTG is a sound company.
ATB

Hello Matt,
Well I have just brought some shares in RST today, and I really do think the current CEO and the new CFO will move the company to motor - the recent final accounts was impressive.
ATB
DAR

Good morning,
I hold Tarsus and have seen an excellent return in a very short period.
However, the actual deal confuses me, so please could you explain the potential time-span (nothing to complicated).
With regards to your last comment "Now what to do with the takeover proceeds." I wouldn't have a problem with that I would top up one of my existing holding, possibly Experian.
ATB
DAR

Good morning Valcan998,
I too hold SCH and have held for a short period of time and I liked the growth & dividend, and this has surprised me, as it has been accepted too quickly.
The last line of your posting "I am holding till this closes" has be slightly baffled. What sort of time line do you anticipate before this deal is done.
ATB
DAR

Hello Sheepy57,
I refer to your posting today and on the 16th March on both occasions you mentioned travel firm Thomas Cook and their trading issues...
Well On the Beach Group is a United Kingdom-based online travel agent.
There is NO connection between Thomas Cook and On The Beach, well there is they are both travel firms, but OTB has no connection to TGC.

On the Beach Group is a United Kingdom-based online travel agent.
ATB
DAR

Many thanks for your thoughts, and yes I can agree with them.

I noticed a few days ago, somebody made reference to RT selling wine. I will leave than alone, as not a wine drinker.
However, in my view wine / beer / gin or whisky is not an investment but to be drunk...............
RT has "encouraged" many people to drink to forget Quindell.
ATB
DAR

Hi Nomadicranger,
I have held this company for many years and I have seen a very good profit wiped out. I still hold as I do believe the SMDS have good potential to go near £6 per share. Now I do accept that I do not have a lot to base that view on.
However selling the plastic division and thereby freeing up capital for recent acquisitions (and hopefully future acquisitions). I certainly think the BoD's have the experience to grow the company and return funds to PI's
Regards
DAR

Hello GS,
As you predicted the Final accounts were filed yesterday. I wasn't impressed them, nothing worthy of comment. In particular Mark Williams CFO is leaving on 30th June and there is no plans to replace him.
No CFO is a poor sign --- IMO
You are hoping for a RNS's on Monday, what are you hoping for?
All the best
DAR

The sp of Comtoir has rising sharply in the last 10 days, mainly because Chaker Hanna recently purchased nearly £5 million worth of shares.
The recent accounts were reasonably solid.
Has any body got views on Comtoir - is this a long term hold.
Look forward to hear from fellow investors

Hi volcano,
I have looked and I also can find no reason for the drop today.
"On the 4th April Liberum initiated coverage of On The Beach at a 'buy' in March, setting a 560p target price for the outfit's shares in the process.
Its analysts hailed the company's "disruptive" proprietary technology, projecting that the resulting market share gains would drive the compound annual rate of growth in EBITDA and EPS over the next three years to 16.4% and 15.7%, respectively.
But the company's equity story didn't end there, with "new products and new markets giving a long runway for the future," they said.
"The market is undervaluing OTB's long term potential and not recognizing the option value from international expansion, long-haul product growth, and the diversification into offline/b2b," they added."
In short keep the faith and growth will come.
I have invested and no reason to sell.
ATB
DAR

Good morning all,
I have really enjoyed the numerous discussions on the bb over the past three years but for various reasons I have decided to see all my holdings in TPG.
Over the past few years the BoD have made numerous statement regarding the way forward for TPG
1/ over £20 million raised for numerous acquisition targets, fundamentally this has not happen and now the recent RNS stated no acquisitions planned for this year, disappointed
2/ Statement made re: dividend possible - IMO any dividend was unlikely and therefore a statement re: dividend was neither prudent or misleading disappointed
3/ The BoD does not have sufficient depth or balance

Now I accept that the company might have potential, but on balance TPG no longer "fits" on my personal portfolio, therefore I have decided to sell.

I shall make no further comment on the BB, with the exception to wish you everybody all the best and if TPG returns capital + growth to you, you have my best wishes.

Best regards
DAR

Hi all,
I have read some of the accounts and I will advise on the points made by dactions.
One Phil Cartmell final salary does show a substantial increase of 60% from 2017 to 2018, this made up as follows:-
2017 salary £257k pension £12k others £36k = £305k
2018 salary £285k pension £10k others £194 = £489k
My first question would be what are other and I could see no notes in the account to explain.
Two As dactions pointed out Simon Kings had a termination payment of £161k, well that was Simon's salary, so there was a "disagreement" between Phil and Simon.
Three as dactions mentioned Simon had over 10 million shares cancelled, which is very strange has Simon's share holding at as December 2017 was only 1,557,693, so on that basis Simon was "given" a further 8,500,000 shares, so yep a big disagreement between Phil & Simon
Four the other director - Derren Stroud and NED's have been with TPG since 2014 and therefore minimal experience at TPG.
I think Phil Cartmell makes all this decisions at TPG

I will review holding on Tuesday

Hi dactions,
Were you able to view their accounts??
At the moment the final accounts not available on their website, and I would to see what Phil Cartmell's salary is vs 2017. He was well paid, he does seem to be the "driving" force behind TPG, there is not many members of the board, do they ask enough questions re: monies for acquisitions.
I hardly think that there be any details as too why Simon Kings was given a termination payment of £161,000 but as he was no longer a board member there would be no RNS.
I had meet Simon at an investment show and he came across as a decent and trustworthy guy, he had been at Corac/TPG for 8 years, we can only speculate if there was a "disagreement" between Phil Cartmell and Simon Kings on acquisitions, maybe Simon felt promises had be made but no carried through.

Hi all,

TP Group (AIM: TPG), the specialist services and engineering group, today announces that the Annual Report and Accounts for the year ended 31 December 2018 and the associated investor presentation, are now available for download on the Company's website, www.tpgroup.uk.com, and the Annual Report and Notice of Annual General Meeting ("AGM") are expected to be mailed to shareholders in the week commencing 6 May 2019.

Some "bedtime" reading for me, I'll let you if anything untoward, IMO.

Also :-
The AGM will be held at 10.30am on Thursday 6 June 2019 at Abbotts House, Abbey Street, Reading RG1 3BD. Will anybody be going, regrettably I won't be going