Member Info for JohnLewis79

Cheers Rufiji...your moniker sounds very similar to Rafiki in Swahili meaning friend! Think CDC might well play a role via Zam if the economic mess can be sorted. As you say rev China the 'elephant' in the room. Grogan has enough on his plate atm not to get distracted by Zims mess!

29 pps distribution to holders. Nice!!

Do we do any business with Zimbabwe? I very much doubt it. Apparently they use 9 differing currencies! With 90% of the pop unemployed, hyperinflation a Govt of unknown sympathies, who would dare enter into any trade deals with them? Looks set to continue the basket case of Africa.

Seems that investors had factored in these back at the update. Bit of a curates egg really. The increase in debt from $48m to $64m will be reduced by c.$18m from Zampalm monies in Feb and cattle feed costs will be less due to reduction in prices and the farms have possibilities. Further expansion on the retail /cold storage side will be a driver though Shoprite concessions are facing competition. The new man from CDC looks a good appointment and prospects are just about good enough to keep me interested for another year even if events outside their control deteriorate. Re-assess at the H/Y.

Idea has grown at an average 29% over the last 7 years and forecasts are for c. £9-12m for '18/19 and imply av eps growth of c.20%. Idea could be one of the few companies with an improving earnings profile for 10 straight years and I bet there are not many in that club.

Pentana's audit software solutions will be adopted bi innogy across all its European operations. innogy is a subsidiary of a large German Electric Utility and rated ideas software package as the best they had seen.

Much as expected....c'ept the Mugabe stuff. Total equity of c. £276m or c.0.90pps which was a big jump over 2016 by c. $80m due to a revision of property, plant & equipment values. No time to fully digest but bofp calcs the EV is c.27p up from 25 (2016).

An AIM quote is not necessarily a given for a poorly performing stock. There are many examples of shares with a 'story' that are doing exceptionally well this year. For instance boohoo, iomart, Asos & fevertree, a pis fave, are four mega performers and the sector as a whole has had a stellar year rising c.20% (thanks in part to tax breaks) ytd with Idea up there at 38% ytd thanks to performing strongly in the first 5 months. No doubt more quality co's as opposed to quantity companies are listing since 3 years ago. At one time 1700 were listed now c.900 and many of these are under researched as well as being unable to be in many iis portfolios, deemed unsuitable as to value. No doubt Idea has performed superbly since 2012 (15p) but I think Idea has overstayed it's welcome and could do with a 'leg up' to the next level even if adding to 'quote' costs.

Bear in mind that Spo's EV is way lower than the current sp. At c.70p that's a big discount which includes some take over premium. How much is the question? Any rejection of offers as being inadequate etc... will see the sp come down to a much more realistic value, though I don't think it's very likely as a sale is more or less 'inked in'. The risk reward favours the 'remainers' atm.

Current EV slightly below mrkt cap due to carrying cash and no debt on balance sheet. Gives a more accurate picture of a Co's value than pure mrkt cap. Trouble is most pis think Idea is undervalued given the scope to rapidly increase revenues and profits. Hence Brokers 'Buy' stance on Ideagen...Given offers for London quoted stocks rarely exceed a 30% premium across the board that would imply a price of c.120 for Idea. The software sector might be more, I've seen premiums of 60%+and double digit EV/Ebita. So who knows?

Worcester City Council joins the Pentana software club......

A possibility Rich62 but since I consider the current price to be over valued any moves up don't make sense to me based on trading nos. Lomb obviously disagree but more out of self interest than future cash flows of the business I suspect, add in t/o premium, cash in bank and any further cash distributions to the pot and they see short term value. Lomb may be in the driving seat thinking 110+ will do the trick so keeping the sp in the 100-110 range makes sense as you say. I think it's a racing certainty the Co will be sold as the bod seem to have little interest in taking on the challenge of managing a business so wide spread which retains a small % of the top line...... as not worth the effort. A bigger outfit with clued up management should be able to build on the solid foundations particularly on the Venues side if the betting rules are relaxed. Await an all cash offer or a mix of cash & shares. The iis want an all cash offer so that's what they will get I guess.

ZAM reports on Wed (16/11).

Of course one must realise that any Brexit, Govt complications then all Idea & stock bets are off! The supply teacher looks hopelessly detached from the realities of her position, she's lost control of her party who are now in almost open rebellion calling for her to be booted out. The shambolic Brexit talks unexplained adequately to the public add to her woes. This drifting cannot continue. She's incapable of getting a grip, so who on earth is? Meanwhile the SM sails on oblivious to the tremors reverberating round the Govt and economy. Have they priced in any bad outcomes, a possibility of Maybot getting the boot or a Labour Govt for starters? Maybe the SM reckons we'll muddle through till the next election when Corby & May will be ancient history and it's as you were boys.....whatever my personal finances will be unaffected as I'm out of risk assets and the dodgy London market which looks over ripe for correction and let's face it if you cannot see any of the number of headwinds that could relieve you of your money and precipitate a sudden crash.....best you not be here!

Willy Hill fun and games as it is set for court action attempting to block SGC acquiring NYX gaming in a $600m deal. When it's Pref shares are converted WH would have 32% of NYX stock available to vote at the Dec 20 meeting. Spo had 4% of NYX at one time....currently a c.1% holding. Meanwhile SPO awaits a SC hearing next month re NJ and sports betting ruling that if successful could pave the way for expansion in other states.

Difficult to imagine what it's going to take to move the stock out of this six month sideways move. Almost weekly news of signing up new customers to Ideagen's software, excellent trading updates confirming yet another record year is in the offing and we plod along the stock just churning over. Afraid it's your atypical AIM malaise that seems to infect companies producing stellar returns rather than poorly performing punting stocks with high vol turnover. Sage and the like must have run the sliderule over Idea and seen the P/e at the bottom end of the averages for the software sector. That's unwarranted imo for a Co that has not put a foot wrong for many a year. Idea is not alone in this regard, Action Hotels comes to mind a stock I had at one time but sold quite quickly in the 50's....since down to 36 a big discount to nav of 106. Those running short of patience might regret not 'bottom drawing' Idea for a couple of years.

Lom Asset Mngmt keep adding in small lots. With a 41.9m stake already why bother to add.... another 8k @ 106 ain't gonna make much difference...I suppose they think any offer will be c.110+?

Reported of c.870k (.43%) @ 86.5.

Another sale of Corrusion safety & security software to a new customer, RATP Dev who join the likes of BA, Iberia & Aer Lingus.

You will remember last year's annual profits were flattered by c.USD 8m reduction in administration expenses else broadly in line with 2015 (USD 0.941k). Upcoming F/Y will show a small profit as per the last 'Septoria' update announcement later this month.