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29 November 2016 Annual General Meeting Update MySale Group plc (AIM: MYSL) (the "group") the leading online retailer, is pleased to provide an update ahead of its annual general meeting, to be held today, at which Iain McDonald, Non-Executive Chairman, will note; "The current financial year has started well with revenue growth rates similar to the second half of last year and with substantially enhanced gross profits. "We have continued to direct more of our marketing spend in the core ANZ market towards re-engagement with lapsed or inactive customers and this has been successful in reducing Cost Per Activation (CPA). We will continue to invest in our data and analytics capability over the remainder of the financial year and so would expect to drive further improvements in marketing efficiency. "With reference to market forecasts, at this relatively early stage we would anticipate a full-year out turn slightly above the top end of the current range of analysts' projections of $8.2 million to $8.5 million underlying EBITDA. "All that remains is for me to thank all those within the MySale Group for their efforts in returning the group to the positive pathway which it is on." Enquiries:
Hi Redrichmond (and welcome to the board by the way). Have you asked for a detailed list of individual cases? They give a good amount of detail in their accounts of open cases per year (or vintage in their terms). they even give the specifics of the payout structure of some of the oldest deals. We have discussed them on this board some time ago but i can dig out if necessary? I think the rapid price rise has obviously caught the eye of the lawyers sat their until all hours reviewing cases and thinking me too please...
bakky is right. If they make an announcement it will be too late! its a tricky one as while its drifting back you want to wait a little longer. but if you are not in ahead of announcement it will be too late. i face the same issue as i want to top up after the latest results.
On the LTIP. you can read it here on their website: http://www.burfordcapital.com/wp-content/uploads/2016/11/BUR-EGM-2016-WEB.pdf the bottom of page 5 states the below. seems 200-300% bonuses could be on the cards. seems rather a lot but is that consistent with law firms? Value of awards Award levels will be determined each year by the Committee. The LTIP rules provide that annual awards will be made with a maximum face value of 200% of annual basic salary (or, if the Committee considers it appropriate in the case of a particular employee, his recurring compensation (excluding any annual discretionary bonus and fringe benefits)) in respect of his employment with the Group for the year for which the Award is granted (“Base Salary”). However, the Committee has power to make share awards up to a maximum face value of 300% of Base Salary if it thinks there are exceptional circumstances justifying such a grant.
Does anyone know how big the laundry business is now? what sort of %ge of turnover it is?
Also the divi is subject to Israeli witholding tax. There is also the small matter of falling foul of the regulators. Both these factors mean this stock will never reach the rating of other stocks in its peer group. I am not necesarily saying that its bad value now but I have sold down my entire holding. I want to see what happens in the next trading update . . . .
Thanks holycustard. That's why I ask as I thought it may be overdue! might they roll into one update? Are they holding back because there is something else to say?
Hi rivaldo, thanks for the useful EPS estimates. Could you please tell me where you get them? Is it a free resource? Also do you know if they have upgraded them recently?
Do we know if we are getting an update soon?
decent summary Johnny. @ Nokki, I agree with you 190/200p is a much fairer price for this ahare and we were heading there. however the less than perfect roll out of the Japan ID card has us back here. we had news of it flying ahead and then of no profit to be booked this year from Japan. I will be watching the results very closely on 9th December or whenever the date is. it could be top up or double the position time!
Was anyone there today? Wonder if there was anything to report?
Three RNS today. Looks like all those funds that now sit on the board are buying more? Perhaps now they are involved they can see the potential is at least as good as they thought? Also the long term performance related options given at 140p! This just needs a few bit to go our way before the company performance (and associated share price) really start to shine through.
indeed holycustard. agree with that all. having flicked through the old RNS last year OPG gave a "notice of trading update", then released a week later. but this is not always the case. sometimes they just put out trading updatees without a warning. i expect these to be another solid set of results with only upside surprises. this looks a good entry point.
perhaps a tad optimistic right now. But if we see some real evidence of positive changes I dont see why not.
yes good observation 4winds. they have increased by 1.5m shares. Most days it trades 200-300k so trading 5x more than the daily average would apply upward pressure. Why now after a huge run up in share price? do they know something we dont? Do we get a trading update in this reporting season? I cant see anything last year at this time (on advfn) is the next update full year results in March?
Hi Sonofelvis, yes I agree with your sentiments. My best guess is that the US settlement is on the higher side of expectations. The rise is a read through that the EU settlement will also be a big one. This US settlement seems to be around $5bn for environmental projects and $10bn for compensation to drivers. From memory only I remember reading that the amount of effected cars sold in the EU was 10x larger than the US. So a like for like will be £100bn if the EU fined for the same amount as US per car, which is obviously an insane amount! However again from memory only the EU settlement sought (which Burford have an interest in) will be much smaller per car. Having said that I understand fixing the issue is actually very costly to fix so if the EU court said something like "all cars need to be rectified" then in some cases buying the car back off the owner at the price the car WAS worth when the fault was discovered will also be huge. So after this debate with myself in short I dont know. How big the EU settlement will be is anyones guess but with the US settling first surely the EU cant let them get away with a lowball figure!!