Member Info for fastduckharry

Many resolutions up for vote, all passed. Though when it came to re-electing Directors, Poppy Gustafsson, received the most votes against. Though still only just over 7% of the votes cast. Only, making political donations was more voted against, but that could be important.

Also Darktrace now able to buyback their own shares.

Was anybody there?

Am wondering whether any awkward questions were asked by Institutional Investor(s). Connection with Autonomy being the obvious subject.

If there was "big good news" to be released at the AGM, DARK would have been obliged to put it in their AGM Statement for the benefit of all shareholders.

Panic setting in, seems to be the news of the day and it ain't good. The market is smelling blood.

No new information issued today. Therefore an AGM Statement was not required. Adios FTSE100.

Likely our buyer is back today as the BKS sp dropped to attractive levels.

The future of this business hasn't changed.

It seems that the rules of the game have changed. Some analysts in the US are now questioning valuations, saying that when they are priced at over 20 times revenues that means overvalued (unless Tesla and other EV ventures). The markets are already jittery with covid infection rates, new market records in the US yesterday means that falls more likely than rises and crypto is falling back. Which suggests a market correction is coming. Would not be persuading anybody to buy DARK at present. Unless there is a positive update tomorrow, FTSE100 relegation would appear to be certain.

With regard to Mike Lynch, I would suggest that his (not his wife's) holding of shares, could be the key to his future, more so than DARK's. A US listing has to be on the cards next year.

City Pub is a well run business but is not immune, to the issues facing the hospitality industry currently. Also a covid support measures will be withdrawn next April in addition to the minimum wage going up. We mustn't forget the increase to the employer's National Insurance contribution starting in April either.

Extract from ES article below, would suggest that Clive Watson is not happy with the prospect. Why should institutional investors put new money in now?

https://www.standard.co.uk/business/hospitality-wagamama-youngs-higher-wages-vat-rents-b967564.html

'The City Pub Group’s Clive Watson said: “The hospitality sector is still healing and April next year is too soon to withdraw certain government support.” '

Am confident that CPC will pull through all of this, the sp will be attractive to those with a forward outlook if falling any further, the 100p level being significant. With regard to taking advantage of conditions to acquire businesses cheaply. They are likely to be much cheaper next Autumn, when finally succumbing. Also struggling businesses capable of holding on til then, are likely to be more attractive propositions for future income.

Wiscos - you say you hadn't done proper research but previously had written "Have read quite a lot of stuff suggesting issues in Cambridge". Why did you invest, there must have been some doubt?

Is there scope for another similar bar in your town?

Latin themed bars do not excite me. As I pointed out in a previous post, Revolution were on the slide before Covid. The 60's themed bar is probably ok for London. Expansion sounds great but no use opening expensive bars in poorer areas of the UK where there aren't enough young people with the money to spend. I want to see some genuine numbers, not bought growth. Nightcap need to demonstrate they are worth backing before acquiring again. Unless they do, the share price will be stuck around 20p or more likely less. |Institutions won't buy because they are looking for management capable of creating organic profit growth generating cash. When they need to raise more money, the sp will fall further. Before then I will thankfully be out.

Just sat through finnCap's H1 Investor Meet presentation.

Not too long at about 38mins. Sam Smith CEO and Richard Snow CFO were representing the company. Went through the headline details and then the numbers fairly quickly. nb; Cash number end September figure, some deal money came through the first week of October just missing the cut off. Which brought us to the questions, which drew some interesting thought and comments going forward. (Questions not necessarily in the order below and wording not totally identical as no notes taken from memory but reflecting my understanding.)

Share price,undervalued: Both agreed FCAP was, without putting a number up. Iterating investment for future organic growth in all areas of the business.
Forward Guidance: H2 will be lower than H1 but our lower number should be no trouble. Could even beat our upper figure but that will depend on if and when the deals going through, get signed in time.
Regulatory Capital: Not a problem if it became a requirement for M & A. We have the money, some of our competitors in that area might not.
Acquisition of a Capital Market competitor: Not likely, can be a problem with culture, a management nightmare.
Are there decently priced acquisition targets: Always looking for a suitable bolt on company to expand the business. Plenty of good companies out there. Might have to offer an earn out to encourage and reward future growth.
Do you want to achieve a similar market rating to K3 (a client of finnCap): We are looking to diversify in growing the business into a professional services company, producing more regular financial streams with both private and public companies. K3 is a very good company.

This is a good company in every sense of the word. Their genuine values in everything they tackle be it dealing with clients, looking after staff or even work in the local community, gives them a greater probability of succeeding long term. Shareholders just need be patient. That reminds me, Sam Smith said that the money we are growing will allow us to pay a dividend in a year when the numbers are not that great.

Found the article

https://www.thetwentiestrader.com/post/gb-group-annual-report-recent-results-investment-case

GBG raise £300m overnight for US acquistion. The joint bookrunners were Peel Hunt and Jefferies.

With regard to DARK, we are now approaching the interesting stage. AGM next week, then FTSE100 remain or relegation on the 30th. How will it play out?

On the subject of FTSE100 and valuations, ONT, (their 2023 revenue forecast @ £170-190m) must be a contender for inclusion, at over £5bn current valuation.

Hi John,

am not going to use a link, if I haven't got a clue where am going. Could you kindly tell us which website the article is on and will find that way. Thanks

A surprising morning, having missed the action last night. Was hoping for some investment in AI and even Biometric identification. It looks like I got my wish. Was beginning to wonder if GBG had gone to sleep, therefore fortunate, as it turns out, to have sold some recently at over £9. Managed to get back the shares I sold, just below the 725p mark this morning.

The big question will be, have GBG got value for money with this buy? Could take a couple of years to find out. However, considering GBG's past record with acquisitions, long term holders have been well rewarded. That would lead to giving them the benefit of any doubt.

Live price currently 751.5p

Link to Acuant's offering for anyone interested.

https://www.acuant.com/solutions/

GLA

As I see it, Berenberg recently muscling into AIM, does not help FCAP in terms of market growth. The plus side is obviously Cavendish. How this side of the business fares next year, will be critical to FCAP going forward. That said, I feel the company is stronger as a whole, providing the staff can rise to the challenge of increased competition as a team. FCAP have invested for future growth. Let's hope it pays off, with the sp nudging towards 50p in the next 12-18 months.
GLA.

Regarding EAAS, held briefly in hope of Solar news, out as soon as Atrato emerged. Solar should have been sorted months ago. An experienced solar guy brought in, could well have had enough contacts to create an installation team. I hope they get their act together for your sake and all other shareholders.
Am in Angle @125p FDA approval important, the new medical guy looks experienced enough to help get over the line. Perhaps he is known and liked by some of the FDA committee (perhaps, perhaps, perhaps). Jefferies experience probably helping there.
FCAP H1 today H1 div up to 0.6p raised forward guidance for total year 1.75p (over 4.7% bought@37p). Cavendish growth in 2022 likely drive the sp higher, just be patient.

Thanks Baba-Tunde,

don't know how much they sold or if they retain any DARK shares. What they did have, is a genuine need to raise money, (even if they didn't want to let DARK go). Most investors will know the feeling.

Eyes Of Blue, you drew my attention to this company. Sat through the latest presentation. Was thinking throughout, would have been better in sound only. Part of future strategy is to install solar on roofs, savings 70/30 to EAAS/customer on long term contracts. Memorable for Harvey Sinclair saying we are getting responses from potential clients, asking what experience do you have of installing solar. Sinclair says our aim is to acquire a solar company. No news yet, when?

There is a new fund starting up, who are going to fund solar installation on company roofs and negotiate long term contracts. IPO process underway now, market debut next Tuesday. (ROOF)

https://kalkinemedia.com/uk/news/ipo/atrato-onsite-energy-ipo-things-you-should-know-before-listing
https://www.atratoroof.com/copy-of-offer-for-subscription

Saving grace for EAAS, is that ROOF is focusing on business premises whereas EAAS is strong in Education and NHS. The big money would seem to lie with the potential energy savings of a long term contract including solar.

So they need to pull their finger out. In the absence of an acquisition. They need a former solar installation owner, either retired or bought out. To advise on one, could also be used to impress potential clients with solar project experience. Where are Atrato getting their installers from?

Your other interest AGL progressing nicely. Note they have dumped FCAP though.

The conversation is around Sequoia's known strategy of starting from an idea and staying after the IPO, thereby rejecting the established idea of a 10 year fund cycle. As the article states, Balderton were late to invest in Darktrace. It wasn't a company they actually built.