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13th Nov 2023 8:33 am RNS Director Declaration

"Aura Renewable Acquisitions plc confirms that Robin Stevens, Non-Executive Director, has advised that he will be appointed as a Non-Executive Director of East Imperial Plc (LSE: EISB).

This announcement is made in accordance with Listing Rule 9.6.14."

https://www.lse.co.uk/rns/ARA/director-declaration-xayj2l3qxncwvho.html

"Paycor Announces First Quarter Fiscal Year 2024 Financial Results

... First Quarter and Recent Business Highlights

• Unveiled an Embedded HCM Solution, enabling technology partners to integrate Paycor’s award-winning HCM suite into their software platforms. Our industry-leading interoperability engine expands our go to market approach and the mutually beneficial business model provides a premium HCM offering in the market for technology partners.

• Introduced a generative AI Analytics Digital Assistant, powered by Visier. The innovative offering empowers leaders to quickly and easily consume people-focused analytics in a conversational chat interface.

Business Outlook

Based on information as of today, November 8, 2023, Paycor is issuing the following financial guidance:

Second Quarter Ending December 31, 2023:

• Total revenues in the range of $154.5 - $156.5 million.

• Adjusted operating income* in the range of $19.5 - $20.5 million.

Fiscal Year Ending June 30, 2024:

• Total revenues in the range of $648 - $654 million.

• Adjusted operating income* in the range of $102 - $106 million.

*We are unable to reconcile forward-looking adjusted operating income to forward-looking loss from operations, the most closely comparable GAAP financial measure, because the information needed to provide a complete reconciliation is unavailable at this time without unreasonable effort.

Conference Call Information

Paycor will host a conference call today, November 8, 2023, at 5:00 p.m. Eastern Time to discuss its financial results and guidance. To access this call, dial 1-877-407-4018 (domestic) or 1-201-689-8471 (international). The access code is 13736725. A live webcast and replay of the event will be available on the Paycor Investor Relations website at investors.paycor.com.

About Paycor

Paycor’s human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding, and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years, we’ve been listening to and partnering with leaders, so we know what they need: a unified HR platform, easy integration with third party apps, powerful analytics, talent development tools, and configurable technology that supports specific industry needs. That’s why more than 30,000 customers trust Paycor to help them solve problems and achieve their goals." "

https://investors.paycor.com/news-releases/news-release-details/paycor-announces-first-quarter-fiscal-year-2024-financial

Paycor HCM (NASDAQ: PYCR), a major North American partner of Grosvenor Technology, announced its first quarter results yesterday, after close of the US markets.

The results exceeded Wall Street analysts' expectations, and the PYCR s.p. is currently up 7.54% today, at US$19.19.

The strong performance and healthy demand being reported by PYCR clearly bode well for GT's ongoing expansion in the North American market, where GT earns the majority of its revenues.

"Paycor Announces First Quarter Fiscal Year 2024 Financial Results

November 8, 2023 at 4:16 PM EST

• Q1 Total revenues of $143.6 million, an increase of 21% year-over-year, while expanding margins

• Q1 Recurring revenue of $132.7 million, an increase of 16% year-over-year

• FY’24 revenue guidance of $648 - $654 million, an increase of 18% year-over-year at the top end of the range

CINCINNATI, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the first quarter fiscal year 2024, which ended September 30, 2023.

“We had a strong start to the year driven by a continued healthy demand environment for our modern HCM solution that powers people and performance,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “We are delivering compelling value, empowering leaders to enhance business decisions, attract and retain top talent, and achieve their organizational objectives.”

“During the first quarter, we continued to invest in differentiating our platform while expanding margins over 200 basis points year-over-year, demonstrating the scalability of our business model. We see a significant opportunity to invest in additional solutions that will increase the value of our HCM suite to our customers and increase our future PEPM opportunity.”

First Quarter Fiscal Year 2024 Financial Highlights

• Total revenues were $143.6 million, compared to $118.3 million for the first quarter of fiscal year 2023.

• Operating loss was $23.4 million, compared to $33.4 million for the first quarter of fiscal year 2023.

• Adjusted operating income* was $15.9 million, compared to $10.4 million for the first quarter of fiscal year 2023.

• Net loss was $20.6 million, compared to $29.1 million for the first quarter of fiscal year 2023.

• Adjusted net income* was $12.8 million, compared to $8.2 million for the first quarter of fiscal year 2023.

*Adjusted operating income and adjusted net income are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures. ..."

https://investors.paycor.com/news-releases/news-release-details/paycor-announces-first-quarter-fiscal-year-2024-financial

"Paychex' Billionaire Founder Shows You How It's Done

MICHAEL MINK08:00 AM ET 07/02/2020

... Forge Your Own Future Like The Paychex Founder

Seeing how life as an employee could be, Golisano founded Paychex (PAYX) in 1971. Headquartered in Rochester, N.Y. Paychex is a top provider of payroll, human resource and benefits outsourcing services. Golisano is still chairman after stepping down as founding CEO in 2004.

And true to his word, Paychex strives for high marks for employee attitude and comfort level.

"I'm very proud of that," Golisano told IBD. "Nothing makes me happier than to run into a current or retired Paychex employee and have them tell me how great it was to work at Paychex. To me, that's the ultimate."

With $3,000 and a credit card, Golisano founded Paychex. Today Paychex has some 670,000 payroll clients, roughly 15,000 employees and 100 offices nationwide. Analysts see revenue this fiscal year topping $4 billion, up 60% from five years ago. Paychex pays one out of every 12 American private-sector employees.

It all started with Golisano. Paychex shares jumped more than 17,000% from their first day of trading in the early 1980s though October 2004. That's when Golisano traded the CEO post for chairman, which he still holds.

"Tom approaches business in a humble manner, ready to listen, challenge the facts, and give people credit where credit is due," said Martin Mucci, the current president and CEO of Paychex. "He also likes to have some fun in the midst of the work."

"Tom is a visionary, said Bob Sebo, a former executive of Paychex who has known Golisano for 46 years. "Tom has great respect for employees that are trustworthy and loyal. He doesn't hesitate to recognize that trait (and) give credit to employees when credit is due."

... Strive To Focus And Be First

Golisano attributes the fast success of Paychex to having identified a huge, wide-open market with very little competition.

He also kept Paychex laser-focused on the payroll processing product initially. "We had a lot of opportunities to release other HR products, but I wanted to build a national branch network first," he said.

... Take Care In Building Your Team

In building a management circle, Golisano says he looked for people with larger ambition. He hired people willing to try to solve company issues outside of their departments.

"I wanted the goals of the company to be very specific and understood by as many people in the company as we could," he said.

"Tom's ability to keep things simple and straightforward has contributed to him being such a successful leader," Mucci said. "He doesn't like multipage documents and long-winded presentations. His approach is cut to the chase, identify the opportunity, and make your decision." ..."

https://www.investors.com/news/management/leaders-and-success/paychex-founder-tom-golisano-processed-opportunity-paychex-winner/

“How did I make my fortune? By always selling too soon. Sell, regret – and grow rich” — Nathan Rothschild

https://itsamoneything.com/money/nathan-rothschild-sell-regret-grow-rich/

Well, the corollary of 'selling too soon' is 'buying too early'.

And in all my biggest winners, I've 'bought too early'.

(Partly that's a function of being able to see value before the crowd.)

THE ELEVENTH HOUR PRINCIPLE:-

"COPIED FROM “BEING HAPPY” BY ANDREW MATTHEWS

In seeking goals, it is important to know about these “eleventh hours.”

Have you ever noticed in life that things can look really bleak just before a dramatic turn for the better? The businessman reports that just before he made his fortune, he was about to quit. Perhaps you have had the experience. Life is like that because there is a principle at work here – the ‘eleventh hour’ principle. it is always darkest and coldest just before the dawn. But if we hang on long enough, we will get our rewards.

If we look at childbirth, we see the principle in evidence also. Just before the most incredible gift of life, the mother-to-be has her patience truly tested and undergoes considerable pain and anguish. (My mother said it was all worth it.)

Once we recognize the eleventh hour for what it is, life loses a lot of its trauma. In effect, the universe often seems to be testing us to see if we are serious about attaining our goal. If we hang on that little bit longer….BINGO!

Once we realized what was happening, we can actually be one step ahead. When everything looks bleak, we can then tell ourselves, “So everything is going wrong! This could mean that everything that I have been striving for is just around the corner.” Then we should feel better.

We will generally be tested in some way before achieving something of value. If we can pick the eleventh hour for what it is; and treat any difficulties as a necessary part of the process of achievement, then, firstly we won’t be quitters, and secondly, we will achieve whatever we desire in life.

Don’t be fooled. The eleventh hour is usually an impostor. When everything looks black, it could be time to celebrate. You may be nearly home."

https://10vantagepoint.wordpress.com/2010/08/25/eleventh-hour-principle/

"The Peter Lynch Approach to Investing in "Understandable" Stocks

... Summing It Up

Lynch offers a practical approach that can be adapted by many different types of investors, from those emphasizing fast growth to those who prefer more stable, dividend-producing investments. His strategy involves considerable hands-on research, but his books provide lots of practical advice on what to look for in an individual firm, and how to view the market as a whole.

Lynch sums up stock investing and his outlook best:

"Frequent follies notwithstanding, I continue to be optimistic about America, Americans, and investing in general. When you invest in stocks, you have to have a basic faith in human nature, in capitalism, in the country at large, and in future prosperity in general. So far, nothing’s been strong enough to shake me out of it."

The Peter Lynch Approach in Brief

Philosophy and style

Investment in companies in which there is a well-grounded expectation concerning the firm’s growth prospects and in which the stock can be bought at a reasonable price. A thorough understanding of the company and its competitive environment is the only "edge" investors have over other investors in finding reasonably valued stocks.

... Stock monitoring and when to sell

• Do not diversify simply to diversify, particularly if it means less familiarity with the firms. Invest in whatever number of firms is large enough to still allow you to fully research and understand each firm. Invest in several categories of stock for diversification.

• Review holdings every few months, rechecking the company "story" to see if anything has changed. Sell if the "story" has played out as expected or something in the story fails to unfold as expected or fundamentals deteriorate.

• Price drops usually should be viewed as an opportunity to buy more of a good prospect at cheaper prices.

• Consider "rotation"-selling played-out stocks with stocks with a similar story, but better prospects. Maintain a long-term commitment to the stock market and focus on relative fundamental values."

https://home.csulb.edu/~pammerma/fin382/screener/lynch.htm

"AAII Journal - January 1997

The Peter Lynch Approach to Investing in "Understandable" Stocks

By Maria Crawford Scott

No modern-day investment "sage" is better known than Peter Lynch. Not only has his investment approach successfully passed the real-world performance test, but he strongly believes that individual investors have a distinct advantage over Wall Street and large money managers when using his approach. Individual investors, he feels, have more flexibility in following this basic approach because they are unencumbered by bureaucratic rules and short-term performance concerns.

Mr. Lynch developed his investment philosophy at Fidelity Management and Research, and gained his considerable fame managing Fidelity’s Magellan Fund. The fund was among the highest-ranking stock funds throughout Mr. Lynch’s tenure, which began in 1977 at the fund’s launching, and ended in 1990, when Mr. Lynch retired.

Peter Lynch’s approach is strictly bottom-up, with selection from among companies with which the investor is familiar, and then through fundamental analysis that emphasizes a thorough understanding of the company, its prospects, its competitive environment, and whether the stock can be purchased at a reasonable price. His basic strategy is detailed in his best-selling book "One Up on Wall Street" [Penguin Books paperback, 1989], which provides individual investors with numerous guidelines for adapting and implementing his approach. His most recent book, "Beating the Street" [Fireside/Simon & Schuster paperback, 1994], amplifies the theme of his first book, providing examples of his approach to specific companies and industries in which he has invested. These are the primary sources for this article.

The Philosophy: Invest in What You Know

Lynch is a "story" investor. That is, each stock selection is based on a well-grounded expectation concerning the firm’s growth prospects. The expectations are derived from the company’s "story"--what it is that the company is going to do, or what it is that is going to happen, to bring about the desired results.

The more familiar you are with a company, and the better you understand its business and competitive environment, the better your chances of finding a good "story" that will actually come true. For this reason, Lynch is a strong advocate of investing in companies with which one is familiar, or whose products or services are relatively easy to understand. Thus, Lynch says he would rather invest in "pantyhose rather than communications satellites," and "motel chains rather than fiber optics." ..."

https://home.csulb.edu/~pammerma/fin382/screener/lynch.htm

From the "Corporate Governance" page of NWT's website: an excellent exposition of NWT's winning business model & strategy:-

"Principle 1: Establish a strategy and business model which promote long-term value for shareholders

Newmark Security is a leading provider of people and data management and physical security solutions through its subsidiaries, Grosvenor Technology Limited and Safetell Limited, in the UK, and Grosvenor Technology LLC in the USA, with exports to Europe and USA, and worldwide through our established customer base. The Company aims to help address some of the major challenges facing corporations in an environment of ever-increasing global security concerns and add value for all our stakeholders through partnership and innovation. We will continue to develop exceptional and secure products backed up by industry leading support. The Company strategy is focused on delivering growth through the development of new products, providing its customers with much-needed peace of mind whilst also improving business efficiency and flexibility through innovative technology. The three core markets served, Access Control, Human Capital Management (HCM) and physical security, are anticipated by industry analysts to grow significantly in the medium to long-term. The company takes a ‘deep and narrow’ approach in each of these markets through the provision of products and services that are highly developed and specialist, thus delivering tangible added value to its downstream partners and creating barriers to entry to potential competitors.

Grosvenor Technology’s products are at the cutting edge of access control and human capital management technology. The business is well positioned to capitalise on the crossover between these two aspects of electronic security and continued investment ensures that it stays at the forefront of this marketplace. Long term strategies are in place to increase recurring revenues through the provision of more cloud-based services on an ongoing basis, particularly in the HCM sector. This is envisaged to deliver greater shareholder value over time as both quantity and quality of earnings increase through this strategy.

Safetell is one of the industry leaders in high-demand physical security products and is perfectly placed to service the industry. The market for asset security products and services is fast growing with the ever-increasing threat of terrorism and crime placing security high on the priority list for corporate clients. It is the policy of the Company to maintain the highest standards of product quality meeting statutory and regulatory requirements by the control of its sales, purchasing, production, delivery, installation and service activities."

https://newmarksecurity.com/investor-relations/corporate-governance/

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