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Volvere Share Discussion Threads
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|fft - my experience is that the quantity of company promotion and the success of the company are inversely correlated. Many private investors are captivated by frequent news announcements for some reason. If the company is consistently successful then the share price will tick up over time of its own accord.|
|No need to be so strident fft. They didn't "ignore" shareholders - I've spoken to JL at length a number of times and at length over the years on the telephone. As could you, and anyone else who made the effort.
JL simply believes, and has always said the same, that the share price will look after itself if the company performs well. In addition, he is EXTREMELY cautious about revealing info which is not in the public domain. Many companies might take a leaf out of this particular book.
I hope JL won't mind me saying - my understanding is that he met the organiser of this presentation at a prior conference/meeting and decided to back him by presenting yesterday.
So I don't believe this is the start of a campaign of further such promotions. Shareholders can either go back to sleep, or moan that their directors aren't out there promoting the company in videos/exhibitions etc instead of actually running the business and creating shareholder value as they have to date|
did JL give any indication as to why they have now decided to roadshow the company after years of effectively ignoring the shareholder base and running it as a private enterprise ?|
|Thanks a lot Rivaldo. I had no idea that Shire's client list was that impressive. I wonder who was the large customer that they lost.|
|Excellent summary, thx Rivaldo, in many ways shire will be the acid test of their expertise as they've had to cope with losing their largest customer mid transformation iirc,new refrigeration plant suggests they're heading in the right direction.|
|Thank you for your summary, Riv, appreciated.|
|More random points....
- acquisitions usually have to be carried out quickly, with due diligence to be carried out in only a couple of weeks
- no sector restrictions, preferred revenues of £10m-£100m, though they do like "people" businesses. There are some sectors which are immediately rejected (interestingly he singled out printing. I sold my CMS shares a while ago!)
- more buybacks are still possible, though (1) they're more difficult to carry out with new rules apparently, and (2) the only opportunities given limited free float are of course from the likes of Marks & Zimmerman, who are apparently hard bargainers. Although I suspect they're probably regretting their sales at lower prices...
- larger acquisitions are certainly possible. However, business sellers are encouraged when they see that VLE have a large cash pile on the Balance Sheet, and VLE also need to keep some cash in case of w/cap needs for newly acquired investees
- Shire Foods supply Lidl, Aldi, Iceland etc and have invested significantly in new refrigeration plant. I regret that I forgot to ask afterwards specifically about Shire and Impetus' prospects (though I'm sure I wouldn't have got any joy!). Impetus' client list per the presentation is an awesome list of motor industry blue chips.
It's worth noting the track record:
- Vectra : cost £2m, £8m sale proceeds plus cash cost received
- Sira : cost £1.4m, £9.7m received
- IPT : cost £1.4m, £5.35m received
- JMP : cost plus loan £1.2m, £8m received
Net assets per share have grown 513% from £0.94 to 576p per share, and the share price has risen 415% since IPO.|
|Cheers Rivaldo, look forward to any further observations.|
|Encouraging to see that bout of buying after JL finished his presentation at around 2.45pm :o))
I thought JL came across extremely well - understated, yet confident in his and his brother's CVs and VLE's track record. As laid out in the presentation pack VLE's transaction history could not fail to impress.
Nothing revelatory was said that I did not know already. My one gripe, which I pointed out afterwards to JL, was that once again he did not point out that, whilst stating that VLE was trading at a discount to book NAV, that book NAV was not reflective of the "true" value of the investees given that they're only in the books essentially at cost/book value, and they are not revalued at any point post-acquisition until disposal. JL agreed he should have pointed this out.
The presentation noted that the usual investee holding period is 3-5 years. I note that Shire is now over 5 years old. I say no more!
Got to go, so more later.|
|Unusually high volume!|
|Looks like a there was some buying after the presentation today.|
|Interesting to hear a report of todays presentation and specifically why so-called expenses seem to be rising quite fast. Other than that things look solid if not rosy.|
|Unfortunately I have to work Riv.......mind you, if the Lander PR roadshow has the desired effect, maybe that will change in the not too distant future :-)|
|On Hols for a week. Would appreciate feedback Rivaldo. Thanks in advance!!|
|Anyone else going to next Tuesday's presentation?|
|Cheers martinthebrave - great to see VLE doing some PR at last, as Melf says. And a 40 minute presentation too, so should get into the detail. I hope to be there:
"Volvere is an industrial holding company. The company's track record of increasing net assets per share makes Volvere one of the most successful companies on AIM, with annualised increases averaging 15% per annum since 2002. The most recent balance sheet showed NAV was backed 2/3 by cash and marketable securities. Volvere's most recently completed deal saw the sale of JMP Consultants, netting Volvere £5.5m. JMP was acquired by Volvere in May 2013 for just £0.4m. Volvere will be represented on day by its founder and CEO, Mr Jonathan Lander."|
|Thanks Martin. Looks like we're seeing a bit more oomph from the Landers with regard to publicising this undervalued stock. Hopefully this exposure will help the share price at least reach the NAV per share!|
|Blackthorn Focus event - AIM Investor Focus will next run on October 18th at the offices of Edison Investment Research. The four companies participating are: James Halstead plc, Next Fifteen Communications, Orchard Funding Group and Volvere plc. Each participating company will make a 40 minute presentation at the event. - hxxp://www.blackthornfocus.com/blackthorn-event/apply/477-2526d541608569dbbebdaffbcd1e136901192617|
|IC I've tried that one but it doesn't give a definitive answer re IHT. The problem is that business property relief only relates to trading assets. VLE have investments in marketable securities I believe which would be classed as investment assets and therefore are likely to be disqualified from the relief. There is also the question of the cash they're are holding - as to how that would be treated. This is a really tricky one as far as BPR is concerned and alas I think it would come down to HMRC's opinion. The reality is, I think this company would partially qualify for BPR but I couldn't tell you what percentage that is.|
|Interesting business with a nice model that has delivered handsomely over the years and looks set to continue to do so. Pity about the illiquidity . AIMsearch can help with IHT qualifying status hTTp://aimsearch.investorschampion.com/|
|My next 1000 shares will be cheaper....|
|What do expect??.....NAV goes up - share price goes down!|
|It was the mention of 'no-brainer' wot dun it.|
|My timing wasn't the best!|
|Joining the merry gang here: bought an initial 1,000 shares as it seems a "no-brainer"|