Good morning! Especially to the Liverpool fans out there.

The RNS is a little quiet for small-caps today, which is good, because I want to catch up on your suggestions in yesterday's comments section.

In today's news, I note that the FD of Sosandar (LON:SOS) has decided to step down and is swiftly replaced.

More to follow!

Graham


This report covers:

Finished at 13:40.



Tandem (LON:TND) post-script

(Please note I have a long position in TND)

Result of AGM

I realise that this stock won't appeal to most of you, but I just want to quickly mention the outcome of yesterday's AGM. What happened yesterday was very unusual.

The Non-Executive Chairman, Mervyn Keene, saw only 57% of votes go in his favour, with 43% against.

And the new Director, MA Taylor, was elected with just 59% of votes in favour.

You won't need me to tell you that this is an extraordinary level of dissent to see from the shareholders of a publicly listed company.

And it looks like these two Directors were only saved by last-ditch efforts to persuade the company's biggest shareholder to back them.

What exactly did they promise him? Impossible to know for sure. But the "Investor Day" and the production of results presentations might be important factors.



Warpaint London (W7L)

  • Share price: 66.3p (+1%)
  • No. of shares: 76.7 million
  • Market cap: £51 million

AGM Statement

A brief statement from this cosmetics group. The main point is that H1 sales have been "higher than anticipated, albeit significantly below the first half of 2019".

Does anyone else get the impression that companies might have been too pessimistic since lockdown? Many of them seem surprised by how much trade they've done over the past month.

Forecasting has been more or less impossible, though, and I don't blame them for being conservative with their forecasts.

As far as the economy goes, forecasts are about as useless as they've ever been.

The only strong conviction I have, when it comes to the economy, is that there will be a…

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