Volvere Share Discussion Threads

[advfn_sales] 22/11/2018 12:02

Here is the chance to listen to a board member of Volvere:

Using this unique discount code, ADVFN25, you will be able to get £25 off at Mello London 2018, a 2 day investor conference from the 26th – 27th November 2018 at the Clayton Hotel, Chiswick, London.



Tickets are normally priced at £99 for two days and £79 for one.

Type in ADVFN25 as the discount code.

Many Thanks and take advantage of this premium offer.

See you there.

[davidosh] 18/11/2018 23:24

Here is the full two day programme schedule for MelloLondon including JL of Volvere



It is jam packed full of about 75 company presentations, lots of top quality speakers and panel sessions plus workshops to help with investment style and techniques etc.

The pre event fun starts on the Sunday evening with a dinner and investor quiz hosted by John Lee but the main conference begins on Monday 26th November at 9am through to Tuesday 27th in the evening so do come and join us as there are still 97 tickets left...



See you there.

[cockerhoop] 08/11/2018 10:00

Well Mello London will be my 3rd Mello event of the year and I fully expect it to be as enthralling as Mello Derby & Mello South.

Great chance to meet up with investor friends and see a host of decent companies present. Seeing Jonathan Lander present an added bonus. Excellent work in getting him along David.

[davidosh] 08/11/2018 09:43

I should also add that ticket sales are currently 9% ahead of any other event we have run over the last four years despite the market jitters of the last few weeks so my team must be getting something right !

[davidosh] 08/11/2018 09:40

meathed......I will ask the website team to look at it but please take into account that the words used are usually supplied or approved by the actual speakers and that is exactly how they want to be known.

We have a huge number of sessions not yet shown on the website as the programme will not be released until next Tuesday. These events are exceptionally popular but clearly not for everyone and we do try to cover all tastes in the investment niche we are supporting ie. companies below the radar and certainly outside the FTSE350.

Do remember that I am an investor first and foremost. If you want a professional to run these events then you will get something completely different and Mello is a wonderful community not a commodity !

[jonthetourist] 08/11/2018 09:26

Hi meathead

Your post contains a serious point re consistency of presentation. But did you have to deliver it in such an unpleasant tone?

Life's too short.

Jon

[davidosh] 08/11/2018 01:44

I am sure you will all enjoy listening to Jonathan Lander at the MelloLondon investor event on 26th November. Do not leave it too late to buy a ticket though as we have less than 200 left...



Jonathan Lander is the founder and CEO of Volvere plc, the turnaround investment company. Volvere’s net assets per share have grown at a compound rate of 17% annually for nearly 16 years and its share price has risen to 11x the price at which the company was admitted to AIM in 2002. Jonathan has 30 years’ experience in venture capital and investment banking, both as an investor and as an adviser.

[the big fella] 07/11/2018 14:08

Yes we are certainly entering a buyers market in that respect.

[rivaldo] 07/11/2018 13:43

Agreed Melf, I was thinking much the same. And also timed perfectly in terms of utilising the huge cash pile to acquire businesses in need of cash flow, as Simso said above.

[melf] 05/11/2018 10:17

There seems to be a constant flow of disappointing new car sales news recently. Seems to me that the Landers timed the IAL disposal to perfection.

[simso] 02/11/2018 12:30

Melf. Possible there is a tip somewhere, but even if not, logic would dictate that sellers must have "dried up", given we all had the opportunity to sell as many was we wanted earlier this week, and could sell in size and in the middle of the spread (If you wanted to!). Hopefully a few astute Buyers around, recognising what we already know!

The share price this week has been at a discount to cash, ascribing no value to Shire (which could make c£1m Profit this year and has Freehold Property). I agree with the sentiment rivaldo expressed earlier..that Cash with Landers should be recognised at a premium rather than discount. They have an unblemished record over 15 years, the last acquisition turned into a 20 bagger in 3 years. One assumes the current uncertain economic landscape could lead to increasing opportunities to acquire businesses with real potential but financially constrained.

Looking forward to seeing JL again later this month at Mello Chiswick.

[rivaldo] 02/11/2018 12:30

I haven't see anything new. I assume people are cottoning on to the value here - and to the safety net in volatile markets.

[melf] 02/11/2018 11:33

Has it been tipped or is there a positive write-up somewhere?

[eezymunny] 31/10/2018 16:28

I suspect some double counting of cash possibly going on. Don't forget there was a cash balance (£2m at Dec 31?) in Impetus and that may have gone with the disposal.

My best guess is tangible NAV c. £12/share next time we see a balance sheet (unless acq or disposal before then.) We can't be sure precisely what's what but I think can be confident that valuation is currently below tangible NAV, which given the history is totally and utterly laughable IMVHO. But then it's been laughable for years and given us great buying ops along the way. Long may it continue that way ;)

[rivaldo] 31/10/2018 11:59

Hi Melf. I've used Simso's valuation in the thread header post, which does include the Shire freehold. You could say his valuation is conservative on a post-tax P/E of only 5, but I'd assume a food business like this won't achieve a P/E of more than 10 at maximum, so perhaps a P/E of 7 or 8 rather than 5 might be achievable, and 9 or 10 if the recent investment in machinery etc brings about an improvement in prospects.

[melf] 31/10/2018 11:35

Riv, what about the freehold in Shire which I believe is valued at c£2.5m. Is that included in the valuation? If not,it puts nearly a quid on the share price

[rivaldo] 31/10/2018 11:28

The share price should logically trade at around the "true" NAV, i.e around 1375p (which is of course subjective except for the 1186p of cash).

But then VLE should trade at a premium to that NAV per share to give some value to management's ability and track record, and to the potential for upside from reinvestment of the cash pile.

[zoolook] 31/10/2018 10:54

Do you mean a premium to the current share price or did you mean a premium to the NAV or SOP valuation ?

[rivaldo] 31/10/2018 10:47

Re-working the calculations then....

Let's say VLE now have around £37m of cash - £19m net of borrowings at 30/6/18, plus £23.1m from Impetus (incl, the deferred), plus say a round £0.9m from trading since 30/6, less the £6m buyback.

There are now 3.12m shares in issue.

So VLE now have 1186p per share of cash.

Simso valued Shire at £4.8m. That's another 153p per share.

Adding in a bit for Sira gives 1350p-1400p per share of core value.

With a track record like theirs, the Landers should really command an additional premium to the share price, especially since we'll hopefully hear further acquisition news in the not too distant future.

[zoolook] 31/10/2018 09:17

Some positive commentary by Graham Neary yesterday on the buyback.

He confirmed the VLE is his largest single position and he has no immediate intentions to sell.

As he is generally a reluctant seller we can expect a long term commentary from him on updates whilst he remains a contributor to Stockopedia.

*edit

link here: hxxps://www.stockopedia.com/content/small-cap-value-report-tue-30-october-2018-market-view-mello-london-tsla-vle-duke-igg-phd-ast-413269/

[malnu] 31/10/2018 02:54

Easy fix zangdook. Get a good broker and dump yer sluggish one! Paying a little more brokerage usually pays off in the long run...

[simso] 30/10/2018 15:18

It looks like 487k of the 550k shares sold were from the two Lander Brothers...each selling around 1/3rd of their stake. Very little selling outside of those two.