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Actually, Ironman22, sparky could be right….Jonathan turner of bayford & co (who are an outfit with energy operations) is a major shareholder; he crossed the barrier to cause for a tr1 a few months back, and the same happened a few years back with him too.I have a feeling this gentleman could potentially be playing things in a way to suppress the share price.
*It’s difficult to assess how much of the firm’s improved financial performance is due to the rise in wholesale energy prices, and how much is due to the skill and expertise of management* - really!?
just how many suppliers have gone bust over the last couple of years, and how many more are on the verge?
https://uk.news.yahoo.com/scottish-power-says-exit-uk-140919159.html - even less competition = yet more customers for Yu to pick up!
spot on sparky... energy is at crazy highs currently so Yu will largely profit from a lockdown - If it wasn't for omicron, energy prices would be the talk of the town and would be the main thing plastered all over the news.
im with you sparky... you don't put a director in place with the specific experience unless you plan to utilise them... back in march they appointed Jason Prothero as Commercial & Digital Transformation Director.
as per RNS 23/03/21 - 'Jason will be responsible for driving digitalisation and automation to further enhance operational and commercial practices across the Group. He will also be part of a strengthened Executive Committee.
Jason joins from SSE Retail, now part of energy supply company OVO Energy, where he spent 15 years working in a variety of leadership positions. Most recently, Jason was Director of Technology & Transformation, following roles including Merger Integration Director, Director of Retail Transformation and Director of Business Design for NewCo, the business transformation programme undertaken by the company.
Jason brings a track record of successful project delivery, most recently involving the Ovo Energy acquisition of SSE Retail which completed in 2020 and where he led the consolidation of the two companies' IT systems.
The appointment follows the Group's trading update in January which reported Group performance coming in significantly ahead of expectations with strong sales momentum.
Bobby Kalar, Group Chief Executive Officer, Commented:
"We are delighted to welcome Jason who brings a wealth of expertise and a proven track record which will further strengthen our management team.'
We are constantly looking to drive innovation and transform the business utilities market and our new digital channels are already proving incredibly successful.
I look forward to working closely with Jason as we continue to develop new routes to market utilising new technologies and taking advantage of the significant growth opportunities in the market."
The current market situation will indeed be detrimental to many smaller energy companies but Yu will not be so heavily impacted, and in the long run this will actually be positive for Yu as it will mean less competition for them as many badly run energy suppliers fold (read RNS dated 16/12/19 for reason as to why - Yu had great foresight when they arranged that hedging facility with Smartest and are positioned perfectly). The drop in SP today is way overdone on the back of scary industry headlines; I personally look at this as a 'sale' price of this stock and a great opportunity to buy, those who do will be greatly rewarded imo.
haha you beat me to it, I was just typing that out! Indeed, another potential customer book for Yu Energy to acquire!
What's weird is that these guys previously traded as Gulf Gas & Power, and their owner Mr Jonathan Turner bought many shares in Yu a year or so ago, think it was just over 5% causing for a TR1 rns at the time - I think he sold them soon after though.
Nurino I don’t understand what your issue is... you yourself seem to think that ‘it should be doing better than it is’ and ‘think it’s still very undervalued’ according to recent posts by you so why can others voice their opinions too?
Nurino - 09 Mar 2021 14:00 - ‘I hope you are right. I have held on to this twice when I could have made significant profits because I do think it's still very undervalued (although holding the share has made a fool of me a couple of times).’
i was going to say 'too early for a buyout i think' but then i read again your suggestion of a possible merger with the dual energy part of smartest - i didnt even think of this to be honest but yes i suppose could be on the cards and would be huge in every sense!
yes all good too thanks chaebol, weird times we live in though a the moment.. yes im still in this... bought my average down with my last buy april last year @ 52p. i'm in this for the long run i see it as a major contender in the forward uk energy supply space, new entry for which is only becoming more difficult. i hope im right lol