Member Info for Sisyphus

Jeffries should go plugging back in on Monday mopping up as many shares as they can at this level. Perfect timing to get an excellent share buyback under way.

The fact that Peter Appel, MD of Rhein Petroleum, now owned by Beacon recently bought 11 million shares at 0.17p indicates to me that he's extremely upbeat about success with the well.

The PMI interim gave a fair view of current investor sentiment and the BoD has never fallen into the fatal trap of overpromising and underdeivering. It's a seasoned crew with an excellent track record for prudence and good risk spread. It has huge capacity to cope with increased volumes as investor sentiment turns.....that is one of the reasons that makes the stock very vulnerable to M&A activity at this very low MCap. Either gaining traction as an independent or swallowed at a substantial premium, it's a good share for a patient investor wanting a divi with both recovery and takeover speculation in the mix. Solid but oversold.

The absurdity of the current price is totally at odds with the facts. One approach could be to consider the fund manager's AuM as a significant value driver. Assuming a base case industry average valuation multiple of around 1% of AuM, the £11 billion AuM would equate to £110 million in value. Adding the cash holdings of £31 million, we have a total estimated value of £141 million (£110 million + £31 million). However, it's important to note that this is a base case estimate and doesn't account for other financial and qualitative factors like the prudence, providence and quality of PMI. When you factor in those parameters even a moderate fund manager with PMI record would be worth 2% AuM giving £220m plus £31m cash. That equates to £251m MCap - that's roughly twice its current level and not fully reflecting the underlying quality.

This is my rationale and why i see the company as a very palatable target for a bigger player. Take the package, add in the economies of scale and cut out duplication and anything around £1.50 a share is a steal. Mega vulnerable at this time but equally able to thrive given change in investor confidence as market moves forward. Personally I see PMI losing its independence in the very near future as the target of a £1.30 rising to £1.60?? unsolicited bid from Phoenix Aviva L&G etc.

Position taking as at this level a 30-50% bid would still give huge scope for centralisation and streamlining costs.

One of the big boys will now start to hoover up shares as all the news is out and the cash and lucrative AuM make for an easy steal with the ability to streamline and merge overheads. A peach at this level.....LGen, Av. and Phoenix must be watching.....

With £31m cash, an MCap of £131 and AuM of £11 billion this is woefully undervalued and a superb target for a bigger player now. Watch this space IMO, as current drop should reverse as logic prevails.

Pretty much as expected...treading water with the capacity, resources and prudence to manage the status quo but quickly ready to respond to market change. Cash is £31m and over a quarter of current MCap. With AuM of £11bn, Premier is still well under sensible value level given the geared upside and probable predator interest by bigger fund managers. All in all a steady hand in choppy waters but Mr Market will soon be looking at gearing, adaptability and competence as market confidence returns. Horizon scanning pays bigger dividends for those who patiently wait rather than speculate on smoke and mirrors.

All the pessimism is already in the price at this level... Any 'significant' fall in AuM would have been RNS'd. Most asset managers are seeing an increase in cash outflows and PMI will I assume follow suit. The big swing will come when Mr Market realises that PMI will be one of the prime beneficiaries as confidence starts to return and Mr Market certainly looks to the future first. Things will start to swing north and hopefully the H1 outlook will provide guidance. PMI board are not given to overpromising and underdelivering. The current low MCap was indeed triggered by the Q1 cautious outlook. H1 horizon scanning should help reassure. Solid and seasoned team.

H1 results are actually scheduled for 31st May according to PMI.

Could someone be looking seriously at PMI in the crosshairs? Just a theory.

Nice little niche player gearing up to be THE pan European supplier and last year's CAPEX used to give prime mover advantage. Dedicated online to support shop network and new supply hub in Netherlands. Sam Copeman obviously sees the route to rapid consolidation and growth here and ANG has the £14m war chest to make things happen. Solid.

Yes I have hence my decision to invest alongside those snippets listed below. I am very keen to listen to the one scheduled for 22nd May as I suspect this will coalesce all the previous moves in online exposure and pan European supply. I see the company having a really good future given its niche and financial strength. Be nice to see how plan's are going as the 11% Q1 growth looks excellent progress to me.

Looking at the evolution of ANG it's playing all the right cards. Europe is ripe for expansion for this niche supplier and capital last year was allocated to enhancing online and providing a pan European supply hub in the Netherlands with adequate stock for the start of the season. The cash buffer of £14m is extremely significant for a company of this size and gives it the instant ability to purchase good value acquisitions. The management is both seasoned and prudent and Sam Copeman can obviously see the exponential growth possibilities of a successful rollout. A lot is being documented about the mental health benefits of aligning with nature and fishing has been repeatedly peer reviewed as beneficial. The resurgence of angling post pandemic should not be underestimated and for a cash and asset rich pure play this is a little, soon to be much bigger, gem. Solid.

Looks good to me. If you are referring to year just gone these figures were flagged in the RNS Feb 22nd so we're not unexpected and the reason that ANG shares sit at a very significant and unwarranted discount to NAV. The group has significantly invested in inventory to supply the expanded demand in Europe and in its online architecture. The new supply depot in the Netherlands is a key post-Brexit move to speed availability into substantial new markets. Investors will be focussed on outlook and 11% first quarter growth prior to the start of the 2023 fishing season is a good start on which to build. With over £14m hard cash in the bank, good asset profile and positive cash flow the market will look ahead and see how ANG is a first move consolidator in a growing field where the benefits of angling to mental health are well documented and peer reviewed. A good company where staff are appreciated incentivised and motivated shows the best of British business acumen. Everyone benefits and it would be good to see investors taking a stake in responsible UK based businesses like this.

There appear to be several posters referring to AXL on here, NOT Vast. DYOR and read the headline above.

And invest in ANG where MCap is almost half NAV and results/outlook next Tues. Up the stairs...

Happy to tuck some of these away with NAV so much higher than MCap. Lots of upside given cash almost two thirds MCap too. Solid.

Funny you should say that as I regard Phoenix as one of the prime candidates eyeing up Miton. There's a golden window at present for them to make a lucrative and meaningful addition to their AUM, bring on board a seasoned and prudent UK team and make a sensible offer for both parties at 50%+'of the current MCap. Win win imo.

The upside here is considerable so congrats for taking a position. A lot of posters fail to provide reasoned logic for their holding or accumulation which was why I posted the Math for mine. The target price is still £2.11 on that basis. I see £1.50 as a sensible visual step on the journey whete I will reassess but currently I'm quietly accumulating in my ISA.