Member Info for dc2_

Has dropped now - a result of a 50,000 sale

When I see the ongoing sells I liken it to wringing a damp cloth out for the last drops of water.

Yep, shame this contract has not been signed yet, and here's hoping for some chink of light in July (which if memory serves me, has always been underwhelming - leaving us hanging on for September)

On the note of connected devices I noticed their trusted whatever write up (in what I assume is some paid list) stated that we have 348,000 devices. Unfortunately, that was poor journalism as they used last year's figures.

https://www.360mediagroupltd.com/trusted-brands

Page 44

Yep, that's crazy it is spun as a new partnership. Phrases which acknowldege the existing partnership but reinforces a new era would have been best - but as you suggest - we don't know the details of either event, so I guess it is good news.

Got the gist thanks, the only thing I would point out is they do state....

"Under a separate agreement......."

Like they want to be clear that they were not obligated to buy the software - who knows.

Yep, waiting for the RNS. Hopefully the positive one......

All valid points. Re the Freedom software - what does it even mean......

"the Group completed the purchase of certain Intellectual Property ("IP") from Action 365 Limited, a Freedom Services Group Company ("Freedom"), under a software licence agreement"

Obtaining IP under a software license agreement??? Suggests we have an exclusive right to use it in certain ways. Do we have access to the source code, do we have to pay for its maintenance etc. Seems really weird - as you say, seems to suggest the contract signing was "we'll use your products but you must use our software and that will cost"

I still believe the profit warning was just a set of factors outside of their control e.g. Freedom pausing their telematics offering (as I said before that was a 3 year contract worth £6m - so £2m potential hit). Freedom now back in the game and a new contract signed.

As for the software contract signing - crazy to announce a commercially sensitive thing like that prior to signing. However, it sounds like they could have signed but were not desperate to get it over the line (I read that as a positive, unless this was a ruse to get a cheaper share price for the CLN). So a game is currently being played - to me the contract signing is 50/50. Given we don't know much about it, we cannot know for sure why Trak are so confident about it being signed - they know more that we do....... so fingers crossed.

Shares now 8p mid - so someone may know something I don't

It's worth the punt in my opinion. Reasons:

1) Last year Trak signed a contract for 3 years (worth £6 million) with Freedom. Turns out that Freedom had to pause telematics insurance - imo - the insurance capacity problem. This is now back on track - Trak have said it, have renegotiated the contract for 4 years (numbers not mentioned but assume the initial contract was too weak) including 90% of devices. The cost, the £500k on the software (no idea what that does for Trak). Freedom now signed up with Zurich.

2) The software contract - all very quiet on this but if it gets signed......

3) They have cash to see out the next 12 months. I must admit the share dilution due to the CLNs concern me.

Pay day is next week for me, but I am tempted for a top up (obviously, I am invested here and massively down - so don't take my advice)

Interesting.... the survey is the same as the UK one but in France. Are we looking for business overseas (I assumed we were UK centric in the main i.e. failed to get out of the UK previously)

https://insurance-edge.net/2024/04/26/trakm8-survey-reveals-drivers-attitudes-premium-rates-in-france/

Digging deeper, does this explain i) the lack of insurance capacity previously mentioned [see last sentence in quote] ii) the new found confidence that insurance is back. Then there is the reference to ByMiles.... lots to read into this. Why is Trakm8's share price so sh*t........

"The partnership, which is expected to be worth £50m of GWP in the first 12 months, also covers commercial van and includes product distribution through Freedom’s sister company Stella Woman.

Zurich has previously had telematics arrangements with the likes of Carrot, By Miles and My Policy but now will work on a solus agreement in this area with Freedom.

The MGA [Freedom Services] had to pause its telematics insurance offering last year when Italian insurer Unipol withdrew from the UK"

https://www.insuranceage.co.uk/insight/7954772/zurich-strikes-five-year-capacity-deal-with-mga-freedom-services

Found it

https://www.zurich.co.uk/media-centre/zurich-uk-and-freedom-services-joint-partnership

Great news, do you have a link to save me hunting around or something else?

New update, somewhat delayed from the RNS - doesn't really say much but not bad. A slight adjustment to the forecast - PBT, debt and gross cash.

https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2024/05/20240501-Trakm8-plc-TRAK.L-Allenby-Capital-Update.pdf?c4125=on

Trakm8 reviews are typically polarised but this one stood out. Ok, there is no real information. One assumes the negotiations have already happened (if this is a real review) so not exactly news. Anyway.....

"Joe is fantastic, his customer service is always amazing and he cares about the customer. We are in negotiation for the next 5 years of our account with Trakm8. 5 stars and thank you." - March 2024

https://www.trustpilot.com/reviews/65f2f0923742882d08941c0f

A few minor changes .... only real change is below (and the removal of Penny Searles. as far as I can see.

https://www.trakm8.com/investors/company-information/corporate-governance/

"Despite prolonged downturn in the insurance market due to capacity and funding issues – in the long term our target is still to achieve 1 million connections to our systems. We currently have over 275,000. This substantial increase will provide the level of profitable growth and cash generation that should increase the Group’s share price substantially. The Group continues to focus on growth planning with a commitment to improving the recent insurance sales once the market improves, but also considering ways in which to promote fleet optimisation and to build on and diversify customer relationships. Progress against these plans is monitored by the Board."

Vs (Previously)

https://web.archive.org/web/20230929075048/https://www.trakm8.com/investors/company-information/corporate-governance/

"Despite the short-term impact of Covid-19, in the long term our target is still to achieve 1 million connections to our systems. We currently have over 318,000. This substantial increase will provide the level of profitable growth and cash generation that should increase the Group’s share price substantially. The Group has specific growth plans in place across its two business units: Insurance and Automotive and Fleet and Optimisation. Progress against these plans is monitored by the Board."

A tongue in cheek point... a substantial improvement of just 100% in the share price will bring it back to the days of the latter statement....lol

Here are some of their photos...

https://www.linkedin.com/posts/trakm8_cvshow2024-cvshow-fleet-activity-7188850752218386433-_E2f?utm_source=share&utm_medium=member_desktop

Finally got a return on my Trakm8 investment - managed to nab a notepad from their stand at the CV show. All in all, stand looked great and bigger than I was expecting. They even appeared to be busy.....

The show itself was ok and some of the big competitors were absent e.g. VisionTrack (who usually have the largest stand). Microlise were there in spirit (via TruTac). The show was definitely busier than last year but I'm not convinced it is back to pre-covid levels.

The CV show stand looks impressive - love the Iceland van.

https://www.linkedin.com/posts/nickguise_cvshow-cvshow2024-fleet-activity-7188254096057933824-NiMa?utm_source=share&utm_medium=member_desktop

Being forever optimistic and usualky very wrong - is this related to the optimization (sp?) contract?