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It seems to me there is room to improve by being more proactive in promoting our services to local councils. Focusing on providing annual reports on flooding risks and coastal erosion to councils with dedicated climate change departments (search “council climate change”) could yield many potential opportunities for recurring revenue. This could be considered low hanging fruit in terms of increasing revenue.
Additionally, it may be beneficial to explore new and innovative ways to market our services as the current approach seems way too pedestrian and feel after 7 long years of going nowhere perhaps its time for the CEO to hand the baton to somebody else.
My post on the other side but wanted to keep you guys in the loop…
I visited Kitson House yesterday and they have water damage to the ceiling in reception, apparently it’s been like that for years according to the staff its hardly making a good first impression to potential buyers.
Very sloppy management here in my opinion!
The CEO has been in this role for almost 7 years and taken £1.5 Million out of the business.
The business is valued well below the day he was appointed and absolutely no progress has been made with the sale of Kitson House and clearly it is not being maintained correctly and now falling into disrepair.
The CEO has a pitiful £10K holding in the company and has not demonstrated any support through buying shares in the market to show his confidence in the business that pays him £250K pa
It is time for long overdue change!
Those options were due to expire in a couple of weeks so that explains things..
httpS://otp.tools.investis.com/clients/uk/getech/rns/regulatory-story.aspx?cid=2444&newsid=1471752
Why, Oh Why? Oh Me, Oh My!
The 6.25% bond prospectus outlines the deployment plans..
Finance company lending (40%)
Service fee finance (30%)
Static caravan/lodge/general vehicle lending (30%)
hTtps://www.orchardfundinggroupplc.com/Attachments/bonds/Prospectus.pdf
Come on Pete make the effort to read the RNS…
“it is proposed that the bonds would have a five year life, pay a target annual coupon of circa 6 per cent.”
I am indeed but the amount is a little out of date much closer to 4% now.
Pete, I am a buyer here now. I do like this company an extremely focused business and the CEO has a long track record in the industry and well connected too. He was NED at Honeycomb Investment Trust and clearly sees orchard as his baby and intends to grow the business with or without a banking license.
You can see from his 30-minute introduction to the company on their website how enthusiastic he is (in his own way) and that is enough for me.
https://cdn.bexhillukfunding.com/orchardfundinggroupplc/videos/Ravi-about-Orchard.m4v
You back people in this game and their founder CEO ticks all my boxes!
Skills and experience:
Mr Ravi Takhar has over 25 years’ experience in the acquisition, growth, financing and disposal of financial businesses. Mr Takhar joined Bexhill UK Limited in 2002 and has led the growth of its business to its current size. Prior to creating the group, Ravi was an investment banker and head of Financial Services investment at Nikko, the Japanese investment bank, from 1998 to 2002 as well as chairman of Mortgages PLC, the mortgage lender. Mr Takhar was also head of Mortgage Principal Finance at Investec Bank PLC from 2005 to 2008. He qualified as a banking solicitor at Clifford Chance, a leading international law firm, and has an MA from the University of Oxford.
Broker note Oct 21
Orchard’s FY21 PBT of £1.05m is 13% ahead of our forecasts driven by better loan growth of 9.4% YoY to £29.9m (LibE: £28.0m) highlighting the resilience of the core insurance business while the group continues to explore new markets for future growth opportunities. However, management expect demand for their products to remain subdued over the next 12 months and as such, we now expect a material recovery in lending to be delayed to FY23E. Despite the challenging environment the group has declared an unchanged FY21 DPS of 3.0p evidencing the group’s strong balance sheet and cost-effective supply of liquidity. Based on our revised estimates we reduce our TP to 66p (from 71p) although we maintain our BUY rating given it offers 20% upside to the current share price.
https://www.youtube.com/watch?v=zejHvy9_U3E&t=76s
Customer feedback:
https://vimeo.com/211320370
I will be popping my head above the parapet shortly.
That silly sausage at Gresham sold the whole lot for a solitary 1p and the majority were bought for 1.6p.
Christmas had come early that day!
Once More Unto the Breach We Go Shouting Chipboard
Its on vox markets so replace this with the ****
www.**********.co.uk/articles/escape-hunt-vadim-alexander-of-novacyt-hemogenyx-alan-green-on-avacta-airtel-africa-team17-4c76120
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Graham Bird updating us on the business today...
£50K+ generated from the basic downloadable games during lockdown.
Timestamp 14:15 sounds exciting!
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lavenonews, I hope you will be taking your full entitlement to the open offer?
In addition, in order to provide Shareholders who do not take part in the Placing with an opportunity to participate in the proposed issue of New Ordinary Shares, the Company is providing all Qualifying Shareholders with the opportunity to subscribe for Open Offer Shares, to raise up to a further GBP0.5 million (before expenses), on the basis of 1 Open Offer Share for every 4 Ordinary Shares held on the Record Date, at the Issue Price. Qualifying Shareholders subscribing for their full entitlement under the Open Offer may also request additional Open Offer Shares through the Excess Application Facility. The Open Offer is not being underwritten.
To stop these unfair practices, the government will temporarily ban the use of statutory demands and winding up orders where a company cannot pay their bills due to coronavirus, to ensure they do not fall into deeper financial strain. The measures will be included in the Corporate Insolvency and Governance Bill, which the Business Secretary Alok Sharma set out earlier this month.
Hope you’re not selling Lavenonews
Its the fact the shares dont match the voting rights he is correct its a mistake and both should read 1,500,000
Well spotted – I think you will see a correction issued