Venture Life Share Discussion Threads

[pj 1] 01/2/2017 21:19

One of my picks TST (The one with the profit warning). Chairman buys £29k.

[apad] 01/2/2017 20:10

Plexus warns again (used to hold). Might have to raise more cash!
IGG ex div tomorrow and RDSB Q4.
Been a great day today 6.25% YTD.
apad

[petersinthemarket] 01/2/2017 19:29

Dacian, very happy with the 'grown up debate' but not so sure about the ''virgin on a wedding night'. Perhaps I read the wrong stuff, but i thought they were long gone. pete

[apad] 01/2/2017 15:32

ps
My favourite economic commentator, Hydrus.
Here's his website:
notayesmanseconomics.wordpress.com/

[hydrus] 01/2/2017 15:32

Yes thanks for posting. Enjoyed the back and forth:'well we can't include house prices in inflation because it would be horrific. It would be 8%.' 'it would be the truth'

[apad] 01/2/2017 15:19

H
tiptv.co.uk/inflation-quagmire-not-yes-man-economics/
One can see why it's not sensible to use macro economic data.
apad

[hydrus] 01/2/2017 13:30

Thanks APAD re macro view, agree that not possible to predict really so suppose no point in thinking about it Similarly I gave up predicting short term share prices a long time ago. Re PVG It's gone up quickly so could drop back but have no idea. Not bothered as won't be selling any until potential fulfilled.

[apad] 01/2/2017 12:52

I'm interested in PVG, dacian, but H et al got in at the right time. This looks too much like buying at a top with lots of PI interest driving the shares.

I'd really like to increase my PTSG so check the spreads now and again. It's nicely off the radar.

Ever more grateful to Mr. TD Direct's 'puter for buying a chunk of SOU on its own!

apad

[apad] 01/2/2017 12:40

ps

FARN and PTSG are on my increase list but the spreads are crippling.

Large spreads on a company that has risen as hugely as vets 'r us is doubly off putting.

FWIW
apad

[apad] 01/2/2017 12:38

H,
I gave up macro political and economic news years ago. At about the same time I rejected the myriad of techniques, advice and gurus.

I vaguely see bull markets as climbing a wall of worry, but am not bothered by normal cycles as good companies weather them well. Just more buying opportunities from income.

2008 crashes are a different matter, but I can't predict them either and they are rare.

Not much help I'm afraid :-)

apad

[redartbmud] 01/2/2017 11:16

Hydrus

Agreed, but if they did stop in the US there would be a whole raft of termination costs.
If you are right about the revenue stream then it is smart business.
Smp built a business based on rental income that covered the annual overhead cost. Profits made on development projects provided the growth, but in lean years they could survive on bread and sometimes a bit of butter.
I may be wrong but, as I glanced, I saw that Uppal owns around 47% of the equity. I guess he could pull a few noses around the boardroom.

red

[hydrus] 01/2/2017 11:08

Growing pains are a risk for USA expansion Red you are right. They are having to pay trainers etc and the revenue will only come later. However most of the current revenue growth is generated by UK vets selling plans. PVG have already done their work by signing up the UK vets. Therefore the circa £4.5m recurring revenue they will generate this year is not something PVG need to invest to get. That to me means the business is very unlikely to come off the rails. Their whole cost base last year which included establishing the USA and Other overseas businesses was about £5.3m. I think they could be profitable right now if they stopped investing but of course that would be a very poor decision. Grab the opportunity whilst it exists! Anyway this board isn't a one company board so in other news is anyone worried about a global recession cause by protectionism? I never really look at FTSE level or politics in context of investing as just focus on company specifics but there do appear to be some risks on horizon which worth being conscious of perhaps.

[apad] 01/2/2017 10:31

Excellent debate on the Vet businesses.

I think I should leave my company choices to TD. Their computer glitch buy of SOU at less than 70p is on fire!

Lots of portfolio news in Feb.

TRCS down to 1% of portfolio. I'll leave it alone now, unless there is a dip in something good.
Difficult selling something with well over 400% gain.

apad

[redartbmud] 01/2/2017 10:04

PVG
Loan Note update

As previously announced, the Company entered into unsecured Loan Notes with existing and new investors in the Company (including certain directors and their connected parties) totalling £0.9m with a term of 18 months. In addition, it agreed with Bybrook Finance Solutions Limited ("BFSL") (a company of which Rajan Uppal, an Executive Director of the Company, is sole director and shareholder) for a further tranche with a value of £0.35m which would be irrevocably committed for draw down at the Company's option by 31 January 2017 (the "BFSL Loan Note"). The Company has since negotiated a new loan note that will be drawn down from BFSL. The amount of £0.35m which has been received today has an extended duration of 24 months at the same rate of interest of 1% per month. The BFSL Loan Note will be repayable on 31 January 2019 and has other normal early repayment events including a disposal of a major part of the business or early repayment of other loan notes. In the event of early repayment, the interest for any unexpired period to the end of the full term will become payable. The Company has also concluded that it will no longer take up an overdraft facility it was negotiating with HSBC.

Nice if the loans are repaid early and they still get the full interest to the end of the term.

Only glanced, but this company looks like a white knuckle ride. The share price has doubled and a bit in the blink of an eye. They are trying to grow at 1000 miles per hour. That would worry me, as any hold up or slip could derail the whole thing.
If I had bought around 120/140p I would certainly remove my initial stake, as a precaution/protection measure. It is certainly the Uppal Show.

Just MHO.

red

[hydrus] 01/2/2017 09:33

From the presentation on website:'Group has limited exposure to large corporate veterinary practices, reducing the risk of revenue fluctuation from corporate acquisition activity. Only Medivet the group's largest customer had over 10,000 vets on plan. Vast majority of practices have less than 1,000 pets on plan' So you are right to highlight the risk but it is mitigated somewhat.

[hydrus] 01/2/2017 09:20

Some good points Daclan but worth correcting one thing - uppal only drew £100k. He along with other Directors and external parties lent the company £900k at 12% interest. Not too bad and avoids need for dilution which is fine by me.

[apad] 01/2/2017 09:17

thanks, d/H.
I remember my local dentist and estate agent selling out gleefully to chains intent on growing. They couldn't believe the prices that were being paid.
apad

[modform] 01/2/2017 08:56

Well done hydrus, still holding on to all my G4M, the share price is driven by institutional demand, so I am going to ride it for now

[apad] 01/2/2017 08:55

Carried on reducing TRCS (hope my judgement is good)

Bought TSTL ahead of late Feb interim (despite high valuation) & increased AMS with the proceeds.

apad

[redartbmud] 01/2/2017 08:15

APAD
Fingers crossed.

Tried a little nibble at Vanl but the MM wants 1.4p too much.

red

[pj 1] 01/2/2017 08:15

One of my picks PEL. New NED buys £286k days before taking up the appointment officially.

[apad] 01/2/2017 08:08

Morning ritual, red!

AMS
Looks as if the fall has worked itself out. 15% fall since Sept.
With any luck we will have successfully bought the dip :-)

Market up this morning - I thought it would be lacklustre.

Buying opportunities looking increasingly rare.

apad

[redartbmud] 01/2/2017 07:54

APAD

Thanks, I read and noted the RNS. Not too long to wait.

red