Uls Technology Share Discussion Threads

[red ninja] 19/9/2020 15:02

See Artemis VCT has put forward recommended closure circular . Top holding is ULS Technology at around 7% of roughly £10 million. Thus they must have rougly £700,000 of ULS stock to sell off. Looks like they can take their time so they will probably look for a fund who wants to aquire them.

[red ninja] 04/9/2020 15:07

Looks like LOIM Lombard Odier Asset Management (Europe) Limited have sold 2% of their holding. I guess the share price was getting a bit rich in the short term.

[red ninja] 28/8/2020 11:41

Tipped by Investors Champion :-

hxxps://www.investorschampion.com/channel/blog/a-software-company-going-cheap

[18bt] 14/8/2020 16:00

30% limit applies to any shareholder and anyone acting in concert with that shareholder, whatever their intentions, unless they seek a "waiver" from making an offer from the Take-over Panel. Waiver's are not usually given for people acquiring stakes in the market.

[red ninja] 14/8/2020 12:15

I am no expert, but Kestrel Partners is a company so would have thought the 30 % limit applies.

Nothing says they have to go to 30% or in theory the Kesterel members could bid for Uls if they could raise the cash although that is probably unlikely.

[reefseeker] 14/8/2020 11:59

Are we sure there is a 30% limit? I believe that the City Code prohibits a potential bidder acquiring more than 30% before triggering a full bid, but does this limit apply to a purely investment stake?

Dunno, I'm not a lawyer!

If 30% does apply then I calculate that Kestal has about 40 more days of their average daily purchase of approx 30k before they get to 30%.

[red ninja] 14/8/2020 11:07

Artemis recent Vct comment on ULS Tech :-

"ULS Technology
Another sector that has proven more resilient than might have been expected is the UK housing market. The major housebuilders reported that sales continued even during lockdown and the speed of the recovery over the summer months has confounded the pessimists. Transactions in the housing market require conveyancing work, so ULS Technology has benefited. Initial downgrades to profit forecasts for the company now appear too conservative and are being reversed. Its share price has followed."

hxxps://www.artemisfunds.com/en/gbr/investor/funds/explorer/artemis-vct-plc/ordinary-shares

[red ninja] 14/8/2020 11:03

Kesterel Partners LLP provides fund management and investment advisory services to several advisory clients.

One of them : "Mr Scott, a non-executive director of ULS, is a partner of, and holds a beneficial interest in Kestrel. Mr Scott is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in ULS."

Kesterel is building up a stake in ULS doubtless on the say so of it members (ie MR Scott and others), but as it has 27.87 %. Thus it can buy roughly another 1.13 % before it hits the 30% limit.

You can see the accounts logged at Companies House from a number of online web sites.

[mysteronz] 13/8/2020 18:51

Any one have any idea what Kestrel are up to in ULS, great to see them mopping up shares every other day

[red ninja] 02/8/2020 09:00

It has certainly come back well, but I am thinking pent up demand from the lockdown shows a flattering picture.

What will happen when some % of furloughed workers are laid off.

The mortage companies are predicting more unemployment will hit housing demand. Thus a truer picture of the impact of the effect on the housing market is only going to be seen later this year.

[reefseeker] 31/7/2020 13:31

'the market is coming back'. I've heard that too, anecdotally.

I think the stamp duty holiday must be a big factor.

[sidam] 31/7/2020 11:23

Chatting yesterday to an acquaintance who is moving house. He said they had 18 viewings in the last few days, so the market is coming back.

[p1nkfish] 29/7/2020 09:27

Kestrel have less headroom to 29.9% but enough to push this up nicely if they use it.

[reefseeker] 29/7/2020 09:19

Agree that its good to have a large buyer in the market. I've been in too many shares where its the opposite, a large holder looking to reduce/exit.

[p1nkfish] 29/7/2020 06:23

More stock taken. Good.

[p1nkfish] 28/7/2020 15:03

As long as they are taking stock off the market I couldn't care less.

[reefseeker] 28/7/2020 14:24

A positive AGM update and I'm modestly added to my already sizeable holding.

One of the few red flags for me has been Oliver Scott's position as a NED. He co-founded Kestrel, who own nearly 30% of ULS and who have been regular buyers for their discretionary clients. Mr Scott is "deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in ULS" according to recent shareholding RNS. In my view, this is far from corporate governance best practise for a listed company and I would not be surprised if other institutional investors are also unhappy about this. Its interesting to see at least a couple of them agree with this view and voted against his re-election.

All the above is my uninformed views, not investment advice and do you own due diligence.

[nchanning] 28/7/2020 10:23

Are there any online presentations for ULS available to view ?

[red ninja] 28/7/2020 08:47

Upbeat (but cautious) AGM statement :-

"Balance Sheet and Liquidity

The Company has a robust balance sheet, remains highly cash generative and has sufficient cash reserves to allow it to continue to invest in its sales channels and product development. Having paused its previously announced accelerated investment plan during the lockdown period, the Company is now sufficiently confident in the future to reignite that plan.

Outlook

While headwinds created by COVID-19 meant a slow start to the current period, the recent rebound as the housing market re-opened and growing demand for digital solutions provides solid foundations for further growth. As lenders and brokers slowly return to full strength we expect our market to strengthen further.

The Company also remains well placed to further grow the number of intermediary advisers using its platforms as it advances its growing pipeline of opportunities. The continued focus on the development of DigitalMove and other routes to market should enable ULS to take full advantage of any prolonged upturn."

[p1nkfish] 24/7/2020 17:02

A good sign anyway.

[red ninja] 24/7/2020 16:26

That explains it then. I should read those RNSes more carefully.

[p1nkfish] 24/7/2020 13:11

same sort of thing for Iqgeo.

[p1nkfish] 24/7/2020 13:11

Its for discretionary accounts administered by Kestrel so they have to announce as he has an interest in Kestrel. Don't think its his own money but run by them for someone else.

[red ninja] 24/7/2020 12:34

Mr Scott (NED) keeps buying.

I've never seen a company where a NED keeps on buying quite like this.

[red ninja] 20/7/2020 08:03

Thanks for the expression of your investing philosophy.

It seems to make a lot of sense.