Member Info for Snowdrops

Tried to read that RNS quickly ...it looks like as part of August reorganisation Argo (part of Group 2 assets) was disposed of to newly established company "NewCo", which is owned by old Vela shareholders, i.e. Vela shareholders prior to reorganisation. So, old Vela shareholders are going to benefit from argo but current ones are not. ..............happy to be corrected, if I got it wrong.

Final Results RNS from 28 Sept 2020 still refers to vela's holding in Argo and there hasn't been any RNS announcing disposal since then so I assume we must be holding it.

If you ask your broker they should be able to do it for you but some of them may charge you (my iDealing asked for £30 fee). Alternatively, this is the link to Proxy notice: https://www.wsg-corporate.com/wp-content/uploads/2020-12-04-Westminster-Group-Circular-Proxy.pdf . You'll find the proxy voting form at the bottom of the notice. You can a) print the form and post to address provided therewith or b) email the form to WSG email address also provided within the form.

of £946k each...I guess someone had enough.

Yes the price is up..

I hope so. This share seemed to take north before Nasdaq listing but in the absence of any substantial news it went the wrong direction afterwards. I would think that new CFO based in US would be announced by January and hopefully that will push the price up. Small trading volume seems to swing the price quite a lot here.

I have my proxy form all filled in and sealed in the envelope ready to post first thing tomorrow am (It's against, in case of any doubt).

I have not been in this share for years and years like many others on this board but have been here long enough to get the picture. Looking back over the years, every time the share price went up notably was on a hype; never on substantiated news of sustainably profitable business. This is not some research or development company, which needs 10 years incubation period. To be floated for some 15 years without profit under the same management speaks volumes!

I'm going to vote against the placing resolution. If the resolution is not passed, it may open the whole bag of worms as clearly company is running out of cash and needs financing to survive. The current management (Fowler & family) are clearly incapable of using the placing cash to grow the business. Historically, they used all the financing proceeds to support their family lifestyle rather than support the business and it's owners/shareholders. If the current placing resolution is passed, the same old shameless burning of other peoples money will continue until they run out and before the end of 2021 we will have another placing or some other sort of disastrous financing arrangement being put in place and this will continue until Fowler's retirement. In few years, he will retire and will leave the company to go bankrupt. Having this placing done is just a short term fix while the boat is sinking. Fowler needs to go. I bought my shares at 10.74. Not planning to sell anytime soon as clearly in loss. The only way to sort this company is to oust the shameless incapable current management and find someone who is actually capable to run the business and not just fill his own pockets with shareholders' money.

Makes sense, thank you. Hopefully it means that he isn't left with too many shares and sp can move more freely based on actual daily buys/sales.

The volume bought today was 1.6 million compared to volume sold 88k, i.e. buys 18 x sales, yet price goes up by merely 2%. Why??

Yes, looks like it.

this is the Accora that won the contract - https://www.accoragroup.com/

I believe this is the up to date link - current date trading at 89: https://www.londonstockexchange.com/stock/47AV/international-personal-finance-plc/company-page

One of the few companies to get such good results.

The obvious I could see is BF, non-ex chair of vela, running both companies.

Hello RKBeekeeper,

found and read the document.

Many thanks.

Good Afternoon RKBeekeeper,

I am trying to decipher your advice re Vela but don't seem to be getting far hence, wondered whether you could shed some more light (I'm new to this so my apologies if this seems to be a silly question).
The pdf document, that you refer to, no longer seems to exist - it's been taken down and can't be viewed from whichever source I try to access it. Hence, at loss in my detective thread there.
Also, I appreciate that vela and bou share the same broker but sharing the same broker seems to be common practice across many well run companies / may be coincidence hence failing to read something more into it.
Finally, after trying to search for either vela or bou on aqse, neither of them are listed there, so again at loss of thread.
Many thanks for more details, if you can.

Sorry, got the numbers wrong. Revenue as of March should be at least 1.08m, which means by end of June could easily be 2m.

From Final Results announcement in April: "2020 secured revenue at 31 March 2020 already matches 2019 revenue". So, if 2019 revenue was 1.08m, doesn't that mean they had over 4m revenue as of end of March this year? Plus, with all the contracts announced since March, I would think it reasonable to assume, it may have doubled since March.