The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The Dec performance was not known in Nov, this RNS officially announces 2020 fund performance. Nowhere in the RNS did I see a statement that said this is the only RNS we will release in Jan or Q1. I'm sure they'll communicate AUM performance when they're ready. When GS doesn't communicate he gets slated, when he does communicate he gets slated.
I must admit I sold out of this share following one of Joe’s company updates last year, I took quite a loss but the guy seemed so switched off that I was worried about how motivated, or capable, he was to drive the company forward in these challenging times.
I bought back in yesterday and topped up again today, not quite back to my previous levels but I am much happier now that he has gone.
Our friend Puku (welcome to the LSE boards!) points out that the new management team still have their training wheels on however these guys look like they have strong backgrounds, it also does not feel like they are hanging around and they obviously are not afraid to make bold moves. I would have preferred they had shot Joe sooner but I guess these things take time – in my experience, if you dismiss someone with immediate effect you tend not to have to pay a severance but who knows.
Blake looks like he has a very strong background in the beauty industry, good to see that he came up the well thought of P&G route prior to moving into the SME market place. Worryingly the previous board did not seem to have any beauty experience, or any e-commerce experience – to be honest, it is probably surprising that the company survived for so long.
Ward must have some confidence in the company, he has bought a large number of new shares since he joined the board and is willing to offer a loan – you do not do that if you are unsure of a good return.
Shandy Pants – I have always followed your insight and found it useful, although we probably need to be careful about comparing the market that Innovaderma operates in and the beauty industry. Obviously IDP is mostly tanning (90%?) and that category is substantially down due to covid compared with beauty, I have only heard this as I know a marketing person in one of ST’s competitors. I believe beauty has remained resilient throughout – possibly due to people doing their makeup for Zoom calls but not needing an all over tan.
Personally, I am much more confident in Innovaderma’s future success than I was under the old regime. I think someone mentioned they were concerned about board infighting however it looks like the fight took place and the new guys won.
I am hopeful of a relatively rapid turn around in fortunes and a large bounce in the shareprice.
GS has made it clear why the RCF hasn't been signed yet (which was outside of GS or anyones control) and has made it clear that they're still working on it. The RCF is just one piece of this jigsaw, try not to focus on that alone.
Fantastic appointment & UK based!
Good update - "The Company's discussion with the Warehouse Loan/Short Term Credit Facility counterparty continues and is nearing a conclusive step. ". The new websites look fantastic, massive step up from before.
Huge appointment!
We could see a slight retrace, followed by a continued increase.
Either that or he's really hairy... :)