Good morning! Am running a bit late today, overheated axle at Berrylands. I'm working on the report right now, so please refresh this page from about 11:20 until 14:00.

 

Troubled CCTV company, 21st Century Technology (LON:C21) has announced the appointment of a new CEO and FD. They are formerly from Quadnetics, a much larger competitor, so that looks encouraging. Both have been granted chunky share options, but I'm pleased to see that the exercise price has been set at the current market price - I have no issue with share options, providing management are only being rewarded for creating shareholder value above the current share price. Both have also given irrevocable undertakings to buy £60k and £90k worth of shares in the market, so that's an encouraging sign of commitment. I hold a few of these shares, and might top up when funds permit.

 

Not a small cap, but I see that the Royal Mail IPO has started well, with the shares about 33% up at 437p. Personally I didn't bother applying, as it would have cost too much in double commission, from selling something else to raise the cash, and the likelihood was that applications would be greatly scaled back. Also, given the appalling customer service at my local sorting office, from a militant, unionised workforce, it strikes me that the likelihood is for a long period of conflict between management and staff, as they are dragged kicking & screaming into the commercial world.

 

I've seen five companies this week, at Mello Central on Weds, and an excellent Blackthorn Focus event yesterday, both kindly hosted by FinnCap. Myself and two other investors had a 40 minute session with the Chairman of @UK (LON:ATUK) yesterday. I had originally assumed that it was just another blue sky story stock, but after going through the business model with the Chairman, I'm intrigued. It's a very interesting company - they have a partnership agreement with VISA, whereby ATUK offer cloud-based software, which enables companies to do their procurement online, with cost savings that are partly paid for by a kickback in the "interchange" (the 1% card fee that is charged to the vendor on all credit card transactions). So it requires clients to move their purchasing over to a credit card,…

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