Good morning, it's Paul & Roland here with the SCVR for Wednesday.
Timing - as I have visitors, we'll need to be finished here by late morning.
Update at 12:23 - visitors have gone home now, so I have an unexpectedly free afternoon! Hence I'll keep plugging away here until mid-afternoon.
Update at 17:12 - today's report is now finished.
Agenda -
Paul's section:
Revolution Bars (LON:RBG) (I hold) - deeply discounted placing will not please private shareholders.
N Brown (LON:BWNG) - (I hold) - Alliance family increasing stake again - Joshua Alliance RNSs an increase in his stake from 4.61% to 6.21%. I reckon there's a chance of a bid for the company by its controlling shareholders. No section below, this is just a quick note.
Electra Private Equity (LON:ELTA) (I hold) - a quick note to point out a new research note here has been published (yesterday) by Edison. As commissioned research, obviously this will be effectively the company itself talking to us. It's essential reading for all holders of this stock. It demonstrates that there's still strong upside potential once TGIs and Hotter Shoes are separately listed shares, with ELTA shareholders morphing into holders of those two stocks, through an in specie distribution, then what's left of ELTA turning into Hotter Shoes. My only criticism of this research note, is that it doesn't pull the valuation together, to arrive at a conclusion, it just leaves the individual valuations of TGI & Hotter dangling. Still, it's easy enough to work out sum-of-the-parts ourselves. As mentioned before, I'm coming out at 800p+ hence still upside here I reckon, and both TGI & Hotter Shoes are shares that I actually want to hold, as both are good growth companies. Hence ELTA remains, in my view, an attractively cheap back door into forthcoming TGI & Hotter Shoes floats. No section below.
Sdi (LON:SDI) - another positive trading update for FY 04/21. Guidance for FY 04/22 left the same, but upside potential on forecasts looks likely. Valuation seems about right to me.
Gym (LON:GYM) - a surprisingly strong trading update, which has read-across for other sectors such as hospitality, and travel, in my view. This is a smashing business, and expansion has resumed. My only quibble is the high valuation, which seems to…
