Member Info for Poormandreaming

From our last 6 monthly update. Still waiting...

'Primorus is positioned to deliver long-term shareholder value through disciplined deployment and active portfolio management. We will seek to return capital to shareholders when the opportunities arise'.

Another strong purchase of Fresho shares. Fresho looks to be on a good trajectory. Just hoping that we see some more consistent reward as investors. A dividend every 10 years and a stagnent share price isn't cutting it.

Has anyone done any work on an accurate N.A.V. lately?

If I had a £ for every time I've heard that in the 6 years I've held this death spiral stock, I'd make my losses back! I'm only still in because the transaction fee to sell the shares is more than the shares are worth. A number of people have made good money from this company at the shareholders expense. Sell if you still can.

As expected, cash has taken a battering (for the right reasons). With profits static, I'm not confident of seeing a repeat of last years 50p dividend.

Earlly indications are that footfall on the high street is up 4.4%. Even if people aren't buying as much because of cost of living, they still need to eat and many will be looking for low priced options. Looks good to me? Festive footfall begins as store traffic rises +4.4% over the weekend | Talking Retail https://share.google/a1Edn68dUxZ5W2Qpk

Another purchase of own shares with little to no impact on the SP. What is the stratergy here???

I was thinking exactly the same. You can bet your life that if those shares get sold off again the share price will tumble.

I think weary long term holders are ready for a dividend of some sort now. The boards aim to provide long term shareholder value is a good one, but 'one day my son, all of this will be yours', only lasts so long.

PRIM are still buying their own shares back. If they felt that they were in the clear I suspect that the spare cash would have been used to pay weary shareholder a Special Dividend. Maybe they are just being prudent, but with the spectre of potential legals, neither PR1 or PRIM are commenting. Let's just hooe they don't both sink each other in a costly war that only sees the solicitors win.

I tend to agree that this will reach former heights, but £28 this year? I hope you're right, god loves an optimist!

Hoping that this stock starts to produce dividends more regularly. Whilst I get the methodology behind buying shares back, particularly with PR1 threats, the only way I can see shareholders making a return on investment is through generous dividends or takeover. I'm not sure if waiting for one to come along every 5 years will cut it though. Here's hoping that we see some more regular dividends soon.

So, some big buys went through yesterday, but the usual purchase of own shares RNS was conspicuous by its absence this morning. Is it late of do we finally have a real 'mystery buyer'?!!!

Great to hear some like minded comments. I was starting to wonder if I was going mad with the certainty of some of the drivel! Time will tell, but the notion that the PRIM board didn't think this through, thereby dropping themselves and PRIM in it, just doesn't stack up to me.

I'm sticking around, but I can't quite understand why so many substantial buys with much less sells is not really reflected as I would have expected in the SP?

Prim RNS, brief but says all I need to know.

Primorus Investments plc (the "Company") notes the release earlier today of an announcement by Pri0r1ty Intelligence Group PLC ("PR1") concerning a lock-in agreement to which the Company was a party. The Company has received a pre-action letter from lawyers acting for PR1, which the Company intends to defend robustly. Further announcements will be made in due course.

Mrdigit, I hear you in this. But in order for this to make any kind of sense (and therefore make informed decisions), we need to understand PRIM's thought process.

The board is made up of a highly experienced investment banker, a chartered accountant and a practising solicitor. As a long standing holder, they have consistently shown a conservative but highly considered approach. They have done everything by the book.

To think that they've suddenly had a brain fart and had somehow forgotten or decided to ignore a contractual agreement and potentially land themselves in hot water with the FCA, and potentially shareholder does not make sense.

I'm amazed that so many people have heard (part of) one side of a story and are certain of the position.

Patience will show us what the truth is.

Those saying 'Clearly no loophole', you may be right, but what have you seen to make you sure?

We await Prim's response.

LOTM. A couple of points.

1, The MCAP has gone up by 7% since my post!

2, The latest report is well behind (as is their nature). Do some research on the value attributed to Fresho and let's not forget the money raised from the sale of PR1 is much more than that quoted in the aforementioned report (let's see whether that attracts any liabilities).

I remain convinced that the board are currently buying shares back at a bargain price.

Tiger16, I really don't know. If they believe they're sat on a loophole, would they be wise to declare it at a time when the speculation is keeping the share price artificially low whilst they are buying back their own shares? It's a theory, but in all honesty I don't know.

I think that we are all left to speculate for the time being.

Whatever happens it'll be an interesting watch.

Tiger16. So PR1 have alleged the breach and they have also confirmed the breach. Meanwhile PRIM have said nothing. Doesn't that just mean that PR1 have made an allegation and then restated the allegation?

Now if PRIM confirm the breach then I'll accept it, but we have heard nothing from them. In other words we are only hearing one side of the story here or am I missing something.?

Mrdigit, an interesting first post. As a long term holder of Prim, the reason I'm here is how well the board have performed in the past (not least the 28% special dividend that they paid out last year). As much as I was surprised about the situation regarding the ALLEGED breach of lock in, I cannot help but think that there is more to this than meets the eye. The BoD are heavily invested here and take sensible salaries. They don't seem to have rushed into anything over the last few years and have had a clear plan and exit strategy. It would be entirely our of character for them to have done anything rash or ill advised. I stand to be corrected, but I am convinced that there is more to this story than meets the eye. As a PRIM holder, the advantage of all this speculation is that we are buying our own shares back at a ridiculously cheap bargain price. A quick look at the NAV to MCAP will show you just what a bargain this stock is...