Company News

Brexit Bounce, Green Accreditation, Security Issues and Hargreaves Lansdown AGM

The FTSE and my portfolio jumped up this morning (11th October) on the hope of a Brexit Agreement after all. RBS is up 16% which seems to be a function of euphoria. I think I’ll wait and see the progress of discussions in the next few days before plunging in to buy some more stocks. But if an Agreement is reached then the market is likely to power ahead so keep that cash handy. The London Stock Exchange (LSE) announced today a ...

Murray Income Trust AGM 5 Nov 2019  

Murray Income Trust have launched a campaign trying to encourage shareholders, existing and new, to meet their fund manager and directors at their forthcoming AGM.  ShareSoc are great believers in making AGMs as useful as possible. The Murray Income Trust campaign is welcomed by ShareSoc.  So, I am happy in this blog to give a plug for this AGM and also for their bright idea for their shareholders to bring a friend and have a free lunch.   After your free lunch you can attend ...

Speedy Hire Presentation, Burford Analysis and Treatt Trading Statement

On Tuesday the 1st October I attended a company seminar organised by ShareSoc in Birmingham, mainly to present my new book. But there was an interesting presentation given there by Speedy Hire (SDY). This is not a company I have looked at before because it seemed to be in a sector driven by construction activity which tends to be cyclical and in a fragmented market with few barriers to entry. This is probably why other listed companies in the sector such ...

Ventus Director Changes following ShareSoc campaign

ShareSoc are pleased with the outcomes at Ventus and Ventus 2 VCTs. It appears that following difficult AGMs, the directors have listened to shareholders’ concerns and have come up...

City of London IT, Equals Interims, Paypoint CEO, Downing One VCT and Parliamentary Pandemonium

Having been away on holiday in the North of England last week, this is a catch up on news that impacted my portfolio. I received the Annual Report for City of London Investment Trust (CTY) which is one of my most boring holdings. This is large cap equity growth/income trust managed for many years by Job Curtis and I have held since 2011 – it seems longer. Total return last year was 2.7% which beat most of the comparable indices. But a ...

Intercede AGM and Tech Stock Valuations

Yesterday (18th September) I attended the Annual General Meeting of Intercede Group Plc (IGP) at their offices in Lutterworth. I have held a very few shares in this company since 2010 in the hope that it would be able to turn its identity software solution into a profitable and growing business. Although they have some great major account customers, revenue has been static at around £10 million for the last 5 years and in 2017/18 they reported substantial losses. It always ...

JD Wetherspoon Results and Directors Reappointed at Edge Performance VCT

JD Wetherspoon (JDW) published their results for the year on Friday (13/9/2019). The revenue figures were very positive with like-for-like sales up 6.8%, overall revenue up 7.4% and earnings...

Open Orphan, Operation Yellowhammer and a Bridge to Ireland

Last night I attended a ShareSoc company presentation seminar. One of the companies that presented was Open Orphan (ORPH) which used to be called Venn Life Sciences but changed name after a reverse takeover of Open Orphan and a change of CEO. The new focus is on orphan drugs which are those medications that are focused on rare diseases, i.e. those with relatively few patients and where historically there have been few treatments available and typically very little research. Big pharma ...

3i – Well Managed and Well Incentivised

The 8 times increase in the 3i share price in the past 10 years means that 3i is one of the largest holdings in my portfolio. So I thought I ought to read the annual report of this £11 billion market cap company. CEO Simon Borrows has accumulated £160 million of 3i shares and is therefore very well aligned with shareholders. His annual pay is around the £7 million mark, but most of this is performance based and paid in shares. He ...

Victoria AGM, Dunelm Results and Brexit Impacts

I attended the Annual General Meeting of Victoria (VCP) in central London yesterday. I have held a few shares in this producer of carpets and tiles since the revolution that installed Geoff Wilding as Executive Chairman a few years ago. He did a great job of turning the business around but the share price fell back sharply last October over concerns about the level of debt and a failed bond issue to replace bank debt which cost £7.3 million. As Mr ...