Member Info for vigneron53

Their record in building shareholder value over the past few years has been abysmal.

The share buyback was not for PI benefit, just looking after their larger investors.

This BoD seems to have a mentality of running this business like a private company.

Yes SB, I see that. It is not a healthy situation when a company has a shareholder like Harwood with such a big stake.

I also suspect this as the source of insider leaks.

My frustration with the company is that they have significant potential, but shoot themselves in the foot continuously.

The buy back has resulted in a 12% drop in share price over the last month. This company keep turning wine into water. Unbelievable.

In the company presentation, questions were asked about the enzymes business and investment into South bend.

They have a pipeline of circa 1.5 M of which some will drop in 2025. So modest progress.

As for return on capital on the life sciences capec in South bend. What can they say, it's part of the current 5 year plan.

My opinion right now is that it's not returning on investment, but let's see how it plays out over the next 2

years.

I would love to see a more aggressive approach, I sense this is not their style.

Can't disagree with the previous posts. The incentive scheme does not have "Stretch" targets, it incentives very moderate growth.

And what has happened to the enzymes business, not a mention. The return on considerable investment still looks like jam tomorrow.

The positive news today once again this company is leaking market sensitive information.

There were some big buys last week and especially in the last hours of Friday.

This has happened consistently with previous news releases.

Nice to have positive news, but the above is annoying, although sa

A very short AGM and business update

Main points

- The US seller has ceased activity. They don't know who it was

- The fermentation business has a strong pipeline in the prospects stage. The incentive to manufacture in the US seems to be resulting in inquiries from.non US companies who want to reduce risk to their US business.

- fermentation at high volumes is not imminent but will follow contracts for lower volumes

- point of care is performing well and will need more capacity soon.

- dedicated sales/ Commercial teams in place and helping with opportunities

Private investors can dial in to today's AGM.

Contact Wallbrook for access

A lot of investors are moving to cash until.Jan 20th. There are risks of market turbulence during that period.

I have taken profit in the mid 70s and will see about jumping back in end of January.

It's a very investible company, although the lime business depends on the net-zero agenda. Maybe bad timing with Trump about to burst that bubble.

Another reason I stay on the sidelines for now.

I don't know why they bother with these updates. It's the same uninspiring statements.

In line with market expectations 😂 The share price tells you what the market thinks

And if you asked some of the long term shareholders what they think, I dread to think what the answer would be after witnessing the mis management over the past years.

It's progress of sorts, but like watching paint dry.

This share has always been leaky. It's happened in the past prior to adverse events.

We should be due some good news, but unfortunately we have an exec chair who is more interested in restoring his reputation than shareholder value. The two should come together, but caution is his watchword.

Patience required if your investing in EKF.

Mega brings her ESG experience, just when the tide is turning on this nonsense. Just my opinion but ESG and DEI are now being attacked increasingly, but I guess for now they have to play the game, given BlackRock investment.

In meeting today, the opening shot from Baines was rather a panicked plea that his plan was all about focus and growth. I do wonder whether perhaps his pitch to institutional investors did not go completely smoothly.

They may have supported a dividend break, but I cannot believe they are happy with his snails pace execution.

It will be interesting to see what happens in the next couple of days and whether there are signs of IIs backing this as a recovery share.

I just have a nervousness about their operational capability as it becomes clearer that that there were more issues than we realised in the ongoing business as well as the updated fermentation business. And for sure timescales to get this up and running and selling the capacity have been vastly underestimated.

We could really do with quarterly updates this year.

I agree with comments so far that results are disappointing and I had also seen this coming given the previous briefings.

The only positive spin I can put on this is that Baines is being ultra conservative and has instructed his CFO to build a reserve that can be released at a time of their choosing.

I think Baines took a blow to his ego due to the company's poor management and the insistence by major shareholders that he should assume an exec role to restore the company to health.

That would explain the ultra cautious forecasts, as his reputation is on the line.

Let's hope that behind the scenes things are better than they appear.

Very interesting AGM yesterday. I have to say not your typical AGM, more like family gathering. A lot of investors who have been involved for some years.

News of the new Pershing US which is going to be listed via ipo in the US. This necessary because legislation prevents PSH operating in the US.

PSH will however benefit from this as the US company will gift PSH monies that will offset the management fees. The objective is to effectively reduce PSH management fees to zero.

There will also be a new fund to allow investors to participate in asymmetric bets on macro situations. This is currently done by PSH partly as a hedging instrument and has been very lucrative.

The new SPARC is now considering investment proposals and there will be news down the line. This vehicle would allow up to 100% control of any company they wished to invest in. That's quite unique.

Just seen Singer Capital note and the 12 month target price of 34p. Hardly inspiring.

I kind of agree with you that there shouldn't be a liquidity issue, but like SB I think the update was totally lacking in substance.

Anyone who noted the statement from the exec chair last year would have seen this uninspiring, ultra cautious approach coming.

It's almost like he was dragged back to the coal face against his will and is now has only one thing on his mind, that is to save his reputation.

He has forgotten about shareholder value in the short term.

As the price of the share is rising steadily, I thought I would get a company perspective.

The information I got was that the Lime transaction that was announced weeks ago was in discussion last year.

This is when I was complaining bitterly to the company about shareholder value.

The transaction seems to have been positive with regards to inflow of investment from UK, Europe and encouragingly from the US.

Thi as appears to be prompted by the scale now achieved by SRC and a business that now has a a more balanced portfolio of products.

This overrides the concerns over the increased debt, which private investors have commented on.

They significant integration work to complete over 2 years or so and IT systems figure largely in this. They are confident that this will go smoothly.

So it seems to have the thumbs up from the institutions based on a solid business now with sufficient scale.

They believe the share price has a way to go, I hope they are right.

I am still down here but not so much now as I added at coca 44p.

The update on the enzyme fermentation capacity is expected circa mid November. That was the commitment on the last shareholder presentation.

They need to hit this target to restore credibility.

They need 6.7 million to pay the dividend, so they need to be confident that cash inflows is strong.

I asked Max if he would include shareholder returns in the next major update which will be FY. He has agreed to do that. Better discussed openly than ignoring the obvious distress this is causing private investors.