The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I thought that the close period for director share transactions was from 60 days before an announcement of Interims or Annual results or in fact any announcement containing price sensitive information.
That would make the interim announcement not before 13 December?
Is Schroeder’s planning to take private?
Seems like all major trades are either reported late or traded after hours.
There is no doubt more equity will be required soon without an uptick in orders or even to build the orders.
Thoughts please!
Qd22:
You are absolutely correct. Every acquisition has been successfully integrated and as you say we have to pay out a bit extra but gain a hell of a lot more in profits.
I wonder if we will break that glass ceiling of £4 anytime soon?
AIM Rule 19 requires that audited accounts are prepared within six months of the year end. Temporary reliefs have been provided as a result of COVID-19.
Companies are being granted a 3 month concession to file reports at Company House, so end of September!
I think the fact that IES have published the positive accounting statement that they have should give us all comfort . If there is some late problem identified by PWC then that would be extremely worrying but absolutely no reason to believe that IMHO.
GSmiley
Looks like you were spot on with your ‘conservative comment in your April post!
New Broker Coverage21 Apr '21
HSBC has just started covering VLX - 425p target. IMVHO they are usually "conservative" when initiating coverage. Not that I care too much as this is a core holding for me.
GLA
GS
Missed forecasts by REDt may be a contributing factor but as installations rise so should the SP as confidence returns.
The market will always find its own level and for now it is what it is. I take comfort in the fact that Shroders are a very large investor and now Siemens Gamesa have the option of a seat on the BOD.
If you listened to the webinar last week you would be less frustrated:
18 new patents on core technology
Tremendous growth in activity last 2/3 months
Strategic Gamesa relationship. Their wind turbines have 25 year life matching that of IES machines.
Gamesa are the global leader in wind power
This is a Joint commercialisation of wind and storage
Gamesa, quantum leap in next generation technology
Losses in 2020 driven by Covid and downturn deferring sales
Start of 201 £22m in bank
End of April 21 £16.4m in bank due because of increased inventory
Current cash burn £1.1m/month
Expectation quiet 1st half heavily biased towards 2nd
Customer feedback good, achieving customer goals
I think that was most of it but I was interrupted by a phone call towards the end of the webinar.
One thing was clear to me. This is a very different company to Red!
Pinecone: it was a very good presentation with around 30 minutes of Q&A. As you know Larry doesn’t talk much about opportunities until they happen but it was difficult for him to hide his exuberance regarding the game changing Siemens joint venture.
The guy you need to contact about availability of the presentation that was recorded is Joe Worthington.
J.worthington@infinity.com
Midas: Back in the Redt days, maybe 3 or more years ago, I believe I am correct in saying that he Market Cap was in the region of £400M with no justification what so ever other than promises of large orders which never came to pass.
Today I have confidence in everything that IES say and yet with the market it is a case of once bitten twice shy. Larry has said many times I will not say anything about the orders we are working on until they happen. Much to our frustration he has been true to his word so IMHO the £150M market Cap is well justified. Further I imagine that Facebook, Microsoft, and Google investors were also asking the same question as yours in the early days when not enough people really understood the technology. Keep the faith!
Loskins: I think most private investors are surprised at the speed of the fall given that the majority of Bushveld stock appears to have been snapped up by Shroders.
We could question why the BOD have not been buying. Possibly a closed period leading up to a results announcement but equally possible is that they are in possession of price sensitive information, good or bad.
If their Chairman or indeed their Nomad was worth their salt they should have advised the Company to make an announcement to put shareholders minds at rest as there appears to be little understanding within the management team of the importance of keeping the market informed.
Spot on Monty!
Another fantastic performance from Volex.
Well ahead of expectation and dividend increase over last year. Bulk of growth from electric vehicles and data centres and Turkish acquisition performance better than expected.
Well done management!
Blue: as you know Ameresco are the go to company in the US for any company wanting to better understand what they can do to save the planet. Whether or not it is feasible for the military to use flow batteries as power back- up in battlefield scenarios remains to be seen but the fact that Ameresco has chosen to work with IES is great testimony to their technology.
Remember back in the Redt days when we received a grant for developing hybrid machines? I wonder if that technology has been resurrected for the micro grid proposal. If so it would not be a giant leap from battlefield micro grids to vehicles. Imagine pulling into a service station and filling up with a twin headed pump for instant recharging maybe even quicker than filling up with diesel.
All pie in the sky at present but then so was a phone in a wrist watch 20 years ago.
Monty: maybe a few catching on to this fact this morning. Also worth mentioning that any performance related payments due under the contract may also be a lot less if they are related to the exchange rate. Into the new tax year now so anyone who crystallised profits might be eager to buy back in before the expected trading update later this month.