Meetings for Investors

Amati AIM VCT AGM and Retailers

Amati AIM VCT is one of those peculiar beasts – a Venture Capital Trust. Yesterday I attended their annual general meeting and here are some general comments on the company and the meeting: Amati AIM VCT (AMAT) is the result a merger of the two Amati VCTs. They had very similar portfolios so this made a lot of sense, and the result is a large VCT with total assets of £147 million. This figure was also boosted by excellent performance last year ...

It is this weekend – ShareSoc will be at the UK’s biggest shares show UK Investor on April 21 – will you? Free tickets on offer

This Saturday 21st April ShareSoc will be mixing with more than 3,000 serious investors at the UK Investor Show. And we have some of the last available tickets to hand out today, for free, to ShareSoc members Sharesoc will be organising one of 133 stands at the country's largest one day event for those interested in shares. The other stands will be manned by AIM and Standard List companies and the CEOs of most of them will also be doing 20 minute ...

Analyst Presentations: the Unlevel Playing Field

A core aim for ShareSoc is to seek to level the playing field for individual shareholders. One aspect of this is addressing the cosy chats that companies have with analysts and favoured institutional investors, which individual investors usually cannot gain access to. A typical example of this was contained in ScS's recent interim results announcement: https://www.investegate.co.uk/scs-group-plc--scs-/rns/interim-results/201803210700033530I/ Investor and Analyst Meeting A meeting for analysts will be held at the office of Buchanan, 107 Cheapside, London, EC2V 6DN on 21 March 2018 commencing at 9.30am. ScS ...

Revenue Recognition, Patisserie Valerie, Utilitywise and Cryptocurrencies

Revenue recognition is a hot topic at present as folks have come to realise that this is a frequent cause of company accounts misrepresenting the true state of the business. Quindell and Blancco are two examples and I cover Utilitywise below. But first let me report on the Annual General Meeting of Patisserie Valerie (TIDM:CAKE) which I attended this morning (as a shareholder of course). The company operates a chain of cake+coffee shops under the company name but they also have several ...

Private Investor Dialogue with the FRC

Following the success of the last year's FRC event (photo below) a date of 26th November 2018 has been agreed for a Private Investor Dialogue with the FRC. Please put the date in your diaries. More details will follow later in the year.   Click here to see the feedback survey results of last year’s event. The FRC were very pleased with the event and the feedback research. We continue to have regular meetings with the FRC and are increasingly being invited to ...

Standard Life UK Smaller Companies and FRC Meetings

Yesterday I attended two meetings in the City of London. Here are brief reports on each. Standard Life UK Smaller Companies Trust Plc (SLS) held a meeting for investors to “meet the manager” in London as their AGM was in Edinburgh this year – only about 10 people attended the latter so there were more in London. I have held this trust for some years and the manager, Harry Nimmo, who has been with the company for 33 years has been a ...

Abcam AGM, Cambridge Cognition, Ultra Electronics, Wey Education and IDOX

Yesterday I attended the Annual General Meeting of Abcam (ABC) in Cambridge as I often do as I have held the stock since 2006. Share price then (adjusted for consolidation) was about 50p and it’s now about 950p so I, like most investors in the company, am happy. Alex Lawson has done a full write-up of the meeting for ShareSoc, which is available to our full members here, so I will only cover a few points herein. One shareholder expressed concern about ...

Round up on recent FRC and FCA developments

Our event at the FRC on 21 November, when the FRC will explain what they do and listen to members’ feedback, is a sellout and we are now operating a waiting list. Below is a roundup of recent FRC and FCA developments, to inform attendees and help guide questioning. FRC says corporate reporting could still be improved In its annual review of corporate reporting, the FRC said disclosures by large listed UK companies are generally good but detailed explanations and clarity could still ...

National Grid, Johnston Press, Crown Place VCT, Lloyds Bank and LoopUp

I had a busy day yesterday, but let me first comment on the news today. National Grid (NG.) published their half year results this morning. They reported “Adjusted operating profit, excluding timing up 4%....” but statutory earnings per share were down by 12%. What exactly does “adjusted for timing” mean? I have no idea because the announcement does not explain it in any sensible way. For example, it says under “UK Timing”: “Revenues will be impacted by timing of recoveries including ...

On-Line AGMs and City of London IT

I mentioned in a previous article the growing concerns about the use of “virtual” Annual General Meetings (AGMs) in the USA. There are not many on-line AGMs yet in the UK but yesterday there was a good example at the City of London Investment Trust (CTY). I actually had to complain to the company last year about the defects when I attempted to attend it on-line rather than in person – it did not work on the day, plus a later ...
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