Belgravium Share Discussion Threads

[varies] 03/6/2015 09:30

So Investec Wealth & Investment Ltd has reduced its holding from c4.6million shares to c2.4m.
Does this mean that a number of small shareholders, holding through IWIL, have sold out or that one big share shareholder has reduced his holding ?
The market being very thin, I suspect the latter is the more likely. Perhaps we shall see a corresponding announcement soon of an increase in a declarable interest.

[cocker] 28/5/2015 09:59

I thought you had left us Pavey & it is nice to see you post again. Yes I was a fan of JK & without doubt an honest genuine guy all round. However, I had changed my stance on whether he should still be at the helm some time ago & as an investor that is my right. I always take a balanced view on most of my investments & quite often dip in & out as I feel necessary. BVM needs someone dynamic if it is to succeed instead of Jk, end of.

[varies] 28/5/2015 09:53

This is an infuriating statement.
The board have had months to decide on the proposed acquisition and still have nothing to tell us about it nor about the dividend we would otherwise be receiving tomorrow.
In the 2014 accounts the trading figures for past acquisitions are all swept up with those for the rest of the business and I deduce that either Feedback is not doing well or that the rest of the business is making less money than before.
The new non-executive from Chelverton does at least represent a substantial shareholder.

Rivaldo
I do congratulate you on your sanguine approach. This is certainly a company that requires more patience than most but we must be glad that it shows no sign of going bust !

[rivaldo] 28/5/2015 09:32

Great balanced posts this morning.

I think the Certas contract will probably fall into Q2 in a small way and then complete in H2, which should largely guarantee a reasonable year. Any further such contracts would then be big bonuses.

I assume the potential acquisition is either taking time - these things do take time, to paraphrase The Smiths - or has fallen away. I think it's remiss of BVM not to update us. They shouldn't have mentioned it in the first place if they weren't willing to follow through for shareholders on progress.

I thought BVM should have made more of winning a contract to install £1.2m of mobile systems onto a petrochemical delivery fleet - this seems to me to be a major breakthrough into a large, and new for BVM, market?

[michaelmouse] 28/5/2015 08:05

I largely agree with your summary rivaldo, but it's a poorly written statement:-

It doesn't clearly say when the £1.2m will be received. Is it the second quarter or the second half of the year? I think trading so far has clearly been below their expectations with or without this order.

Also there is no mention of the acquisition/dividend? Some update would be welcome.

However, on the positive side, the Certas order, as you rightly say, is huge comparatively and the second half of the year might make up for any shortfall, particularly if they secure more orders like this one.

The company still looks cheap, Ian Martin is a good appointment, full year results could still surprise to the upside, predator(s) in the wings, and/or dividend/acquisition (one or the other) should materialise. Overall, a strong hold for me.

Michael.

[cocker] 28/5/2015 07:56

Good new order but with JK at the helm there always seems to be a BUT. Nice guy but needs replacing if BVM are to move forward.

[rivaldo] 28/5/2015 07:23

Hmmmm...

The good news - the £1.2m Certas order is huge compared to £9m+ annual turnover, plus there's recurring income and the potential for more. And it's for Certas' petrochemical fleet, which is a new sector for BVM if I'm not mistaken.

The bad news - Q1 has been slow and the results will be H2 weighted, though we know the Certas order will be coming in and there's mention of other large orders.

Impressive new non-exec appointment imo.

The share price may be marked down, with some small traders exiting. Medium/long-term I believe prospects - and the valuation - remain interesting and am happy to hold.

[norbert colon] 27/5/2015 22:36

David. Totally agree especially given that companies specifically undertake these 'roadshows' and quite often in London (when the company may be based elsewhere in the UK and hence rather inaccessible to a number of investors). I was planning on attending the AGM tomorrow but have spoken to management and instead plan to meet up with them after the HY results are out. I am hoping this meeting will be an open invite to other private investors.

[davidosh] 27/5/2015 15:37

Personally i think all companies should provide the same presentation at Agms to individual private investors that they have given institutional investors the benefit of just a few weeks before when the results are released.

That way more shareholders and investors would make the effort to attend and engage with directors and companies would be less flippant in saying nobody goes to Agms....make them more interesting then !

[varies] 27/5/2015 09:50

rivaldo
Thank you for keeping us posted.
Am I right in thinking that the AGM is taking place tomorrow ?
If so, we should hear whether BVM is making any progress with its important acquisition.

[rivaldo] 27/5/2015 07:27

New interview with Novo IVC's CEO, with some encouraging snippets:



"We’re now in a highly competitive position to increase market share and capitalise upon the significant number of opportunities in our sales pipeline"

"In recent months we have added further personnel to both the sales and development teams to ensure we can respond to the strong levels of interest we are seeing in the airline business"

"2015 will see the Group launch several new core products and announce significant new partnerships"

"2015 will see further strengthening of our partnership with CGI. CGI is a business and technology service company, employing 72,000 people across the globe......This has culminated in a securing of a number of new contracts with the first going live during the first Quarter of 2015"

[rivaldo] 19/5/2015 08:54

Excellent spot. Another sign that things are on the move at this company.

[michaelmouse] 18/5/2015 20:40

Swish new website:-



Michael.

[michaelmouse] 17/5/2015 20:28

Only a very brief mention of Belgravium, but you may wish to read the blog anyway.

Michael.

[rivaldo] 17/5/2015 07:43

Norbert, thx for the offer. I'll mull over some questions for the AGM if that's OK.

Muckshifter, great idea, especially if they could hold one in London. I have been in e-mail contact with JK, so might suggest the idea.

[rivaldo] 15/5/2015 07:39

The other good news from the Annual Report is that BVM has a much better cash position than is evident from the prelims due to the amount of deferred income in trade payables.

BVM have £0.73m cash, £2.83m trade receivables, less £2.14m payables (total payables less deferred income), less tiny borrowings.

BVM therefore have around £1.4m of effectively free cash to spend on more acquisitions etc.

Not bad against a £5.8m m/cap.

Agreed Norbert re the AGM, but it's in Manchester, which is 3 hours from where I live, and I'm not prepared to spend a whole day doing so....perhaps someone else can go/report back.

[norbert colon] 14/5/2015 12:24

Rivaldo. AGM is on 28th May - you should attend.

[rivaldo] 14/5/2015 12:19

The Strategic Report in the Annual Report released a couple of weeks ago is well worth a read, as it's not included in the prelims RNS. It includes a number of encouraging comments:



"Acquisition
The Group has a clearly defined acquisition strategy and the directors will
continue to consider acquisitions in new market sectors and geographies which
will enhance earnings."

"Following the successful acquisition of Feedback Data during 2013 we were
successful in the acquisition of Access Fire and Security (AFS) during the
year. AFS has now been merged into Feedback Data and strengthens the company’s position in additional market areas where traditionally it had been on the periphery namely: fire security systems and CCTV solution, broadening the product range and customer base.

This will allow Feedback Data to further develop its geographic reach and
improve its offering to new and existing customers."

"The Group, although well established in several of the major European
marketplaces, sees a clear opportunity for further European expansion.
Strategies are in place to extend the Group’s coverage of this very significant
region."

"The technologies available within the Group have applications outside the four
principal market sectors currently being exploited. In all field based applications there is an ever present demand to improve customer service and to lower the costs of providing that service.

The Group is pursuing a number of opportunities which will broaden the current sector coverage."

[lr2] 13/5/2015 19:28

Yes, definitely a sell Rivaldo. I check prices 2-3 times a day and was being offered 5.675p for my holding late yesterday afternoon and also at around 10am today.

[rivaldo] 13/5/2015 19:24

:o))

Do you mean the 5,133 share trade at 5.675p? If that was a sell it was achieving above the 5.625p mid-price! Which augurs pretty damn well.

[lr2] 13/5/2015 13:21

The first trade was actually a sell not that it matters as it was pretty small.