Member Info for PheasantBoy

Can you cut and paste please Marco?

Hi Margaret - snouted around and discovered our mystery new investor. As you say, a few more folk willing to invest £100k+ would be helpful as I'm guessing institutions will be absent for a long while yet.

Looked up Setfords - interesting to see they're based in Guildford as is DR I think. It does seem that platform law is becoming a meaningful new force in the legal market - let's hope the new fella, James Mallender (who seems to be entrepreneurial in his own right) is properly motivated to make another million or two from DSW Legal, as he seems to have done from his sale of his previous legal platform.

While the new thrust is legal first, will be interesting to see how the old rump business performs, will the fee earners there still feel a loved part of the business? James, Shru and the team will be attentive, careful and commercial....I'm optimsitic.

Hello Margaret- the new investor we asked about made his money from funerals it seems.

It seems we're now going full on a legal services franchise future.

What do you think please?

Thanks

18 analysts forecasting £49.16 a share. Where is this info from pleaase? The brokers forecasts I've seen vary from a majority around the mid 30s to one broker at £42 and one at £45. Please share your info - would love to see it! Thanks.

Pogo

How many ITV shares do you hold please?

Doubt it OR - more copper and Anglo progressing their transformation I guess but Fluor and the stating of 13m tpa certainly is a positive part of the increasingly compelling investment proposition. See my separate posting.

And Fluor describes the contract generally as a further step in the plan to achieve full production of 13m tpa. This is back to Sirius' initial objectives/dreams. Anglo was previously talking of 7/8m tpa. It feels/seems like Anglo and Mitsubishi are working towards validating annual production of 13m in their business case for approval. Hope so, 13m @c$200 per tonne and net profit of c$170 a tonne for 60/70 years is a heck of a lot of cash to distribute to shareholders from c2032...thankfully still in my lifetime!

51m seats available H1 this year. Excluding further growth from new and returning planes, does this broadly suggest c100m seats for FY26/7? If so, with load factors lower than Ryanair but still a healthy c90%...c90m passengers forecast this year, up from 63m year just ended? Can someone more knowledgeable correct me if my basic assumptions are incorrect. Otherwise it would seem Wizz is anticipating an extraordinary current year of growth- 63m to c90m. Hope so 🫠

Https://newsroom.fluor.com/news-releases/news-details/2026/Fluor-Awarded-Feasibility-Study-Services-for-Anglo-Americans-Woodsmith-Mining-Project-in-the-UK/default.aspx

Great nrws

Hello Margaret - he's the one who seemed most likely when I searched but a finance official in Gib and former banker in Brazil...? Also someone in Cheshire who seems to have a string of failed companies behind him...would be good to learn more in due course...

Does anyone know who this person is please?

Thanks

Hi Margaret - thanks for your thoughts. I was perhaps a little surprised by how startling the shift to legal first is now. I did wonder in a previous post how the corpfin boys and girls might be feeling and hopefully the churn rate of 15% pa doesn't materially change. I guess as long as they're earning and indeed if cross- referrals do see broader and new revenue streams for the licensees, then hopefully they'll feel comfortable.

I was surprised to hear partners with DSW Capital can earn more than 'Big4 partners' - I thought it was primarily the prospect of essentially running your own show that was the key driver but a scent of bigger earnings is good to hear. Having said that, I can't recall any Big 4 recruits in the past couple of years, but then in reality the corpfin teams of the Big 4 are all fishing in a bigger (higher fees) league - DSW is competing against smaller accountancy firms and other primarily niche regional advisers.

JS and now AD are now both sellers. As you said previously, could simply be personal circumstances but now two founders selling does raise issues. IF they are disgruntled shareholders, perhaps potential for the company to offer to buy their shares given our cash and facilities position?

I too am intending to hold for the long term. Encouraging and increasing divis are a happy positive ahead of a potential rise in the share price to £2 or even £3 a share in three years or so.

Hello Margaret in the ether....did you see/have any commnst on either please?

Thanks

PB

That's what I've heard too GT - here's hoping for all it does come to pass. A bit of cash for the company while we wait for AA to ctrack on.

Thanks Margaret - nice measured response. I too don't anticipate a sale in the next 2/3 years but I do wonder who might want to buy them/us. In the meantime, I'm enjoying the divis...

Good morning Margaret, you are very positive about the future which seems to be increasingly predicated on legal services. I'm not fully convinced yet as it seems JS wasn't/isn't either. Certainly the fees and profits are greater with DR but I wonder how the 100 or so DSW fee earners feel about the changed emphasis? Hopefully part of a strengthened operation but many corporate financier have slightly inflated views of their own importance...this new legal team you refer to is a partner and an assistant based in Liverpool. His LI profile suggests lots of job hopping. JD seems confident and Shru and Pete seem respectively excellent and capable operators so here's hoping! You suggested previously someone will take DSW out in due course- who.might buy a listed legal and corporate finance business do you think -?

Not that I picked up..My guess is continuation of the co- founder's continuing share selling.

Not much clearer but that's prob my bad. Thanks for the response. The DW quote from the FT event I posted this week enhanced my optimism for Arc - as you reiterated Fulmar, we are not aware of any other AA exploration in Africa outwith the Arc JV where he believes they will build a c£15bn operation. Glad I've managed to transfer the bulk of my Arc into my ISA....three years from now and a Tier One and maybe a chunky Tier Two copper mine/s being prepped for development should see Arc taken out by AA for 20/25 or more.