Member Info for vigneron53

Company have refused request for an investor meet presentation.

Liberum still upbeat and have maintained the 120p price target.
My view is they need 2023 to be a year of consolidation and delivery against that target.
Still not a peep out of Pershing sq about their stake.

You make a good point about investor return and at the moment it's abysmal. A question for the investor call.

I see several people have requested a meeting through investor meet, but no response from the company.
I was comfortable yesterday to buy, but today has got me wondering whether we have a leak of inside information.
I can't think of what might be.

I am expecting decent results, though not spectacular.
The main point for me is how their investment in production of bio cultures production is progressing.
Bought more today, which shows on here as a sell.
Could be usual games from MMs prior to results.

What's not to like about the trading update, they are quietly delivering despite the Macro economic turbulence.
If and when the turbulence abates you can see this company taking advantage.
I am a big fan.

Interesting to note that Pershing cannot list in US at the moment. They would have to have a majority holding in the company for that to happen

Bill and team personally hold over 30% of Pershing, not by award, but by personal purchased.
I wonder with all the share buy backs, whether they are moving in this direction.

Ackman held out the prospect of listing PSH in the US in future years, a move that could boost investor demand by making it much more marketable in the main market in which it invests.

That could help address the chronic double-digit share price discount that has been the major problem with Pershing Square’s performance.

Thank you for your question. However, we have not disclosed an investment in Sigma Roc PLC.
I am guessing this means the investment is not significant to Pershing at the moment.
Their call focused on the big holdings.

As an investor in Pershing, I noticed they bought circa 6% holding. That's quite a vote of confidence.
There is a Pershing Q3 call next week and I will table a question on this. Let's see if they will reveal why they took this punt.

Looks good. 48 M ebit and strong cash generation.
Allays any concerns over funding payments.
Hopefully they will follow up with a call to give more detail.
Maybe now the share price can return to sensible levels.. I say hopefully

Thanks SB, I am sure your right an update should be forth coming.
I watched the recording of their last investors pitch.
They empasised their ability to withstand a downturn such as we see now due to their niche products and ability to control prices.
I think H2 will be a checkpoint to see whether they are delivering on this. I think the market needs convincing.
I still think it has value, it's just that sometimes, I look at the current paper loss on my holding and need to reassure myself that I haven't missed something.
I was impressed with the investor pitch made by the CEO, he's a smooth operator.
Cheers, Vig

Hi SB, is there a trading update this week
I have been on holiday, so trying to catch up on my various holdings.
Cheers, Vig

RTO is all part of M&A. It takes ages and costs a fortune in advisors fees. Unfortunately it will be done when is done as that's the way it is.
I think they were caught out by this being an RTO.
It takes up a lot of management time, so let's hope it's not slowing down the business.

ITV attacks on the government are putting their advertising revenue at risk. Seems the short sellers are gathering.

The formal bit of the AGM was over very quickly with all motions carried.
There was a question and answer session, which consisted of mainly technical and operational subjects. There were some questions relating to the financials that were not addressed. The only thing we know is that Q1 was at similar levels to last year.
They are making good progress on transition to non Covid testing and the pipeline for enzyme manufacturing is taking shape ready to hit the ground running in 2023. Up to 60% capacity to be sold by end of 2023. Typically a contract for enzymes, if the end customer is successful is 5-10 years. That will give a very solid base going fwd.
A question was asked about margins for testing and I was pleasantly surprised to hear it was 60 to 80%.
I guess we are going to have to wait for the half year trading update to get the financial KPIs and to be honest I am not expecting any significant uprate until then.
Two brokers notes published with target price of 60 and 90..that's quite a variation.

Hi Silver,
The BOE forward forecast was downbeat and even the shares with great fundamentals are suffering. Personally I think the BOE are a little over pessimistic.
I am really impressed with the exec team at SRC and if anyone can steer through the turbulence they can. Q1 was good and they are still on the acquisition trail.
I am looking at this with a glass half full, there will be a lot of construction in Ukraine at some point ! and SRC should be ideally placed.

Fyi
You can join EKf AGM by zoom, 11am Weds
Join Zoom Meeting. I have registered am my sign on below. Not sure if it will work for all, but you can register by contacting ekf@walbrookpr.com
https://us02web.zoom.us/j/89652746997?pwd=-1S4_jDUKIwwEtgk0K4y5vrBfkNZdb.1

Meeting ID: 896 5274 6997
Passcode: 541840
One tap mobile
+442080806592,,89652746997# ,,,,*541840# United Kingdom
+443300885830,,89652746997# ,,,,*541840# United Kingdom

At the investor meet presentation we raised a question about the share buyback. They said it was good value for the company as a recent acquisition had been made at circa 80p per share.
As discussed before it seemed announcing the buy back price was unnecessary as the share price was marked down and has not recovered.
The question is who benefited from the buy back as it certainly wasn't existing private investors.
The AGM is in May and we will be coming back to this if there is no share price recovery.

Looks like BOOM continue to boom. Presentation was very positive.
Booked over 60M of business in Q1 which is same as whole of last years bookings.
Q1 2022 is circa 100% greater than Q1 2021.
They are growing faster than all the competition taking an increasing slice of a fast growing market.
Margins are increasing, because of demand for Audio boom services.

I get a feeling that we can expect another good year.