Air Music&Media Share Discussion Threads

[davebowler] 03/10/2008 17:41

Yes we discussed the prospect of a divi and the Chairman indicated that would be likely at any time as there was no Co. debt now but no specifics on time and size
No breakdown on CEO salary
A Mr Mackenzie was one other shareholder and he raised the goodwill question.
The bid they 'could not discuss'

[davidosh] 03/10/2008 17:33

Excellent Dave ...and apologies as I had hoped to be there too but the markets and current US. decision pending meant I could not squeeze out twelve hours for the round trip from Kent. I will try to arrange an investor meeting with the directors at some stage in the near future.

Was there any guidance on the size of the divi ? or time line for the payment ie. any chance of an initial interim payment in February or March rather than have to wait until next October/November which feels an awfully long time and will not be much of an incentive to tuck them away.

Did the Chairman explain the CEO package and how it is made up and will he be therefore receiving the same this year ?

Who were the other shareholders and what did they raise as questions to the Board?

Was there any explanation regarding the offer/bid for the company earlier this year ?

Very many thanks of course for attending which is very helpful to those of us who would have liked to be there with you.

[davebowler] 03/10/2008 17:18

I attended the AGM today and raised a couple of points mentioned here;
I broached the subject of the impressive salary paid to the CEO- which the Chairman defended on the grounds of motivation over a period when times at AMU were tough
I suggested that shareholders would benefit more- the CEO included- by favouring share options to an equal value rather than salary which I argued was wasteful in tax and N.I terms with CGT now at a much more attractive 18% .
I brought up the poor main co. website -Lisa Clarke said that was being worked on currently
Another shareholder ( I was one of three in the audience!) said in his view the goodwill write off had a depressing effect on the share price.
The Chairman refuted that saying in his experience at JD that was never a factor.
The overerall impression from the meeting was that the Board shared our frustration at the low share price particularly as they felt business was good.
Following the meeting I and one other shareholder were given a brief tour of the vast warehouse where a small army of staff were putting together pallet loads for Somerfield Morrisons Wilkinsons etc.
Encouragingly our guide the main production man said they found no problem in obtaining more orders but were constrained slightly by the premises and systems.They are moving shortly onto using RFID to help with this.

[goonertone] 03/10/2008 11:30

Target price of £1.00 on £5mill!! Lets not over stretch it heh and give ourselves a bit of breathing room.

£1.00 equates to about £17.5 mill. Assuming £5mill is pre tax there pushing for a heady eps of 5. Just you wait till the house broker brings out their forecast, that'll be more upbeat...oh they are the house broker.



GT

[davebowler] 03/10/2008 10:05

Seymour Pierce have today brought out their forecast of £5m profits 08/09 with a target price of 100p,and reiterating their 'Buy' stance

[crawford] 03/10/2008 09:37

AMU statement is positive, couldn't ask for more in this climate.

[tanners] 03/10/2008 09:31

Agreed - in the current environment, anything that isn't a profit warning is good news, particularly as in AMU's case they seem to be priced like they are only going to here short term.

Look forward to the interims!

[jeff h] 03/10/2008 08:59

"new customers" - bodes well, as I previously posted they are supplying Somerfields

[edmundshaw] 03/10/2008 08:38

Echo. Good statement. And a dividend or two next year from all appearances...

[goonertone] 03/10/2008 08:34

Considering all the other retail releases today AMU's AGM statement is positively euphoric. Seriously though I live for the day when we get an RNS that doesn't have the mandatory "Christmas is our most important period" in it.
Can't really complain though as its true.

We can reasonably look forward to £1.5m profit after tax in the interims that equates to a p/e of 6.6 if they were full year figures let alone purely interims from our weaker half.

I look forward to reading reports from the AGM over the next few days.

GT

[8trader] 03/10/2008 08:24

Nothing wrong with that statement in this enviroment.

Net cash should just in interims imo.

[philjeans] 03/10/2008 08:23

Cautious and bland AGM statement, which is fine in these volatile days.

Members attending will be able to shed more light on the current boardroom atmosphere.

[davebowler] 02/10/2008 15:26

Yes I might well turn up.

[davidosh] 01/10/2008 19:11

Anyone else here going to the AGM on Friday ?

[8trader] 25/9/2008 23:25

Why do i bother on this thread.

[8trader] 25/9/2008 14:52

What about the excessive salary that was mentioned the other week ?

Surely that needs looking at too ?

[goonertone] 25/9/2008 14:50

Davidosh

Thanks. I appreciate that some answers given may be not for public domain if so I will let you have my e-mail if thats ok.

I forgot my other bugbear which I ask about at least once a year please, please, please do something about the website. It doesn't reflect what the company does and must send anybody be it client or investor running before they get a chance to dig any further.

GT

[davidosh] 25/9/2008 14:27

Hi GT

I have spoken to PC and requested information to be given to shareholders at the AGM regarding Q number 1. He said he would check with advisors to see what they could openly discuss.

I also asked Lisa about number two and she said it was a priority along with the name change. I shall be asking more and watching for the replies at the meeting.

[goonertone] 25/9/2008 14:05

Thanks David

I have raised both questions but not been given a satisfactory(in my eyes)answer as yet.

1) Why were the takeover talks ceased. I was told by Lisa Clarke that I am not allowed to know which is @@@@ in my opinion. If they found a hole in the accounts I want to know, was the price not right or couldnt the bidders get credit. What was the offer?

2) What are the time limits in place for finishing the review on restructuring. Is it a specific aim to do something or is it just a general review to see what their options are.

GT

[davidosh] 25/9/2008 10:26

Just put the questions on here and I will raise them or ask one of the others to do so...just in case it looks like I am dominating the question time.

[goonertone] 25/9/2008 08:23

Due to other commitments I am no longer able to go to this years AGM. Would any of the other messageboard readers be able to ask a couple of questions on my behalf, if of course they weren't already asking them themsselves?

GT

[jeff h] 23/9/2008 08:42

GT - Peter Cowgill was at Air Music on Friday

[jeff h] 23/9/2008 08:41

I've added recently - bought an Air Music Tom Jones CD for £2.99!
from... Somerfields.

A new contract?

[goonertone] 23/9/2008 08:23

Peter Cowgill was on five live this morning commenting on the latest interims for JD sports which he has succesfully helped to turn round in an industry generally going backwards.

I'll be very happy if he can produce the same results with AMU.

GT