||EPS - Basic
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Volvere Share Discussion Threads
Showing 3726 to 3750 of 3750 messages
|virtually a month's volume in a day :-}|
|A busy day - I calculate a net almost 7,000 shares bought today so far, i.e around £37k (the 2.5k looks like the only sell imo).|
|Spooky, I can currently buy a maximum 1,500 shares at 529.9p online.|
|Not sure about the further buying, they won't let you buy any.|
|New highs now - looks like two £8k buys (plus a couple of smaller ones).
Lovely small 10p published spread too (and probably even smaller online). That won't last long with any further buying.|
|A further £8,000 buy has done the trick today.|
|The November issue of AIM Prospector magazine is just out, and includes this positive summary of VLE (these are also the people behind VLE's recent presentation in London):
Volvere is essentially a 2-man (brothers Jonathan and Nick Lander) operation that specialises in turning around either loss-making or marginally profitable companies. The Landers implement their management skill set and sell rehabilitated companies at a profit. Volvere has typically worked on two to three turnarounds at any one time, selling them after three to five years.
Since 2002, IRRs of between 40% and 160% have been achieved upon sale of acquired companies. Accumulated cash accounts for nearly 75% of the NAV. Dividend policy is “no dividend” but Volvere does have a history of share buybacks. The company does not feel any pressure to distribute the cash pile because such liquidity is
required to maintain Volvere’s standing as a capable acquirer with turnaround project vendors.
The operational track record has been rewarded with a share price that has grown at a CAGR of 13% (vs. FTSEAllShare 5.2%) since the 2002 IPO, notwithstanding
the intrinsically high-risk policy of taking on such concentrated investments.
Can they keep up this amazing track record? The shares are valued in the market like a holding company — which Volvere is not — and provides a comfortable (and potentially very rewarding) entry price for disciples of the Lander brothers."|
|Nice to see our Chairman still packs a punch, pleased to see his acquittal http://www.dailystar.co.uk/news/latest-news/560609/David-Buchler-Tottenham-Hotspur-chairman-Jew-assault-Harrods-New-Years-Eve-London|
|It'd soon send it down 20p.|
|Nice £10,000 buy just in at 512.45p. I remember the days when a buy like that would send the price up 20p :o))|
|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?|