Primorus Investments Share Discussion Threads

[qs99] 09/9/2020 09:30

NCM results could be out tomorrow, will be interesting their update on GGP exploration areas.....

if GGP hits 20p, PRIM stake worth over £5m no?

GLA

[qs99] 09/9/2020 09:10

also needs to wake up to fact GGP is heading towards 20p IMO! GLA

[qs99] 09/9/2020 08:58

Good post mate.

Agree re remuneration, but then nothing surprises me with some Plcs which are there to line the pocket of directors with spineless NEDs more often than not. Having worked in one for 7 years and city I've seen it time and time again....

anyhoo. let's hope the Labrum's are a different kettle of fish!

GLA

[gb904150] 09/9/2020 08:55

It looks as though the Labrum's want to take control.

So out with:

Jeremy Taylor-Firth, NEC
Alastair Clayton, Executive Director
Donald Strang, Non-Executive Director

and in with:

Rupert Labrum
Hedley Stuart Clark
Matthew Paul Beardmore

Looks broadly positive. The main issues I would say with PRIM are:

- Directors remuneration - £323k. With £200k to Clayton and £60k to non-execs
- Administrative costs £591k.

Those costs just can't be justified in such a small cap and you'd have to question really what they are doing to justify that remuneration or accrue those expenses. Especially in the current climate those expenses should be in the £10'ks.

Clayton holds 3.4% only.

Rupert Labrum owns 17.6%. Stephen Labrum owns <3% now but may still hold some.

Perhaps there was disagreement over whether to sell the GGP stake? Or disappointment with the minimal return on Truspine?

Either way, if this goes through we'll have a heavily aligned BOD. Just remains to be seen how they generate value for shareholders.

[qs99] 09/9/2020 08:13

surprised to see such little action on the SP!

[qs99] 09/9/2020 07:59

Any views?

[qs99] 09/9/2020 07:53

well I should think to narrow discount to their view of NAV for a start I reckon!

[cwa1] 09/9/2020 07:35

Very interesting indeed, wonder what the plan will be? Could get very exciting...

[qs99] 09/9/2020 07:08

Indeed. Can only be positive imo if he wants to shake company up and narrow that discount!! Dyor

[dafrog] 09/9/2020 07:06

Interesting RNS!

[qs99] 08/9/2020 12:33

wow, rental, how many did you buy? Now up 5%!

[qs99] 08/9/2020 12:21

well looks like you have pushed it higher, thanks!

[rental] 08/9/2020 12:18

ggp rising i

[qs99] 08/9/2020 08:13

meaningful stake at 3% IMO and soaks up any stock perhaps?

[qs99] 08/9/2020 08:03

wow yes, thanks for the post. Decent vote of confidence IMO!

[timbo] 08/9/2020 07:29

Guess we know which one now!

Interesting day ahead..

[verulamium] 08/9/2020 07:24

As he says on Linkedin: Following on from the successful turnaround of Infrastrata plc, I am about to move on to the next one. Can't disclose the London Stock Exchange company in question, Announcement soon

[timbo] 08/9/2020 07:23

Intersting new holder

This is the guy who went into Infrastrata three years ago...Had quite an effect




hxxps://www.pressreader.com/uk/daily-mail/20170628/283107069031434

[timbo] 08/9/2020 07:13

(edited)
TR-1 holdings notice out

Person:: Adrian Richard Pococ*k
Full name of shareholder: Wealth Nominees Ltd
Holding 7,099,628 which is 5.08%.


That name rings a bell...

[timbo] 07/9/2020 23:14

Tyranosaurus, most posters on here will know what it's like to sit on paper profits for a share only to see them disappear when the price corrects. You ONLY realise profits when you sell - you can't spend paper profits. Yes, you should ride your winners and cut losers early but the good timing of a sale is a hard art to master and even seasoned professionals often get it wrong! Just look at the widely varying target prices from brokers' notes on more mature and "boring" businesses...

PRIM bought their GGP stake at an average of 1.7p per share if I recall correctly so to let just over a third go at almost 6x the original purchase price was a good example of responsible investing in my opinion. The directors, unlike traders here, are responsible to shareholders so they have to demonstrate more caution. Perhaps the thinking was that the GGP price had temporarily overreached itself and could even correct. It had more than halved in a month from its February 2020 highs and you don't want to sell any kind of quantity when everyone else is selling so I think it made perfect sense to crystallise some profit as it move strongly upwards. If we all had more self discipline like that there would be less moaning on BB threads!

Also to bear in mind is opportunity cost - there might have been the possibility of a deal like the Zuuse deal last year. That could have been even more lucrative if more cash had been available. From the 25/09/2019 update:

"Effectively in the space of 10 months Primorus has generated A$557,000 in share and option value for a capital deployment of only A$500,000, this represents an annualised return on investment approaching 135%. We hope the value of these shares and options will appreciate considerably over the next 12 months, thereby generating further potential gains with a carrying cost of investment of zero, an enviable position for our shareholders. Our only regret is that we didn't have more investable cash to deploy in this opportunity."

[trawl] 07/9/2020 22:06

but the remaining 26mil are now worth 4.2 mil
mkt cap is 5.6 labrum can see the value

[tyranosaurus] 07/9/2020 11:36

The sale of 10,500,000 shares in GGP for £1030,000 equating to 9.8p per share is looking poorer by the week.
Today they are worth £600,000 more.

[qs99] 07/9/2020 09:17

wakey wakey PRIM....GGP on the move