PIWORLD Investor Podcasts

Jeremy gives us his views on the ‘hypernormal’ economic world we are living in today; taken from the Adam Curtis documentary, ‘HyperNormalisation’. (https://youtu.be/AUiqaFIONPQ). Jeremy speaks like an economic historian, drawing from different eras of different economic policies. We discuss QE and monetary policy, which he feels has neutered the banking industry. With inflation, he draws analogies with the 40s and 50s rather than the 70s. Jeremy gives his view where he’s investing his own money, accepting investors are being asked to take more risk to see a return on their savings. He favours equities, especially compounders with good free cash flow. Google is the largest position in his portfolio. However, he believes all portfolios deserve some real asset exposure, he holds single Scotch Malt Whiskey and bitcoin! We discuss today’s innovators, where he cites of course Google, but at the smaller end, Aquis Exchange #AQX. We close on his views of 'value' versus 'growth' investing. Bubbling with brilliance, educational and entertaining. 00:51 Jeremy’s background 05:24 QE & monetary policy 13:30 Inflation 20:15 Where should one invest today? 24:43 What are your stock selection criteria? 28:30 Where are you seeing innovation in companies and sectors today? 32:47 Process innovation: Aquis Exchange #AQX 35:03 The role of the bank or broker’s effect on the cost of capital for a company and their market value 40.25 Owner managed businesses 43:57 Today, are you a value or growth investor? 52:15 About Jeremy’s podcast: In the company of Mavericks 55:09 Where to find Jeremy Jeremy on Linkedin: www.linkedin.com/in/jeremy-mckeown-33b962a/ Jeremy's websites: www.hypernormaltimes.com www.inthecompanyofmavericks.com Dowgate wealth: https://dowgatewealth.co.uk/our-team/jeremy-mckeown/ About Jeremy: Jeremy has worked in the UK equity market for four decades, he has met and interacted with all types of investors. He has met countless companies and read widely on different investment topics. He has invested in a variety of companies and implemented differing strategies, sometimes successfully, other times disastrously. He is now looking to use his experience, knowledge and world view to make better decisions about his own investments. He would also like to help other investors and companies to make better decisions about the world we inhabit, to learn and disseminate new ideas, avoid unnecessary risk and hopefully to help keep a positive perspective on what at times appears to be a chaotic and dysfunctional place.

TED’s CEO, Rachel Osborne and CFO, David Wolffe give an overview of the interim results for the 28 weeks ended 14th August 2021. Rachel Osborne, CEO 00:39 Overview David Wolffe, CFO 03:07 Financial highlights 06:15 Current trading and outlook Rachel Osborne, CEO 08:15 Strategic progress 10:16 ESG 11:12 Summary Ted Baker Plc is a United Kingdom-based global lifestyle company. The Company offers a range of collections, including menswear, womenswear, global, phormal, endurance, accessories, audio, bedding, childrenswear, crockery, eyewear, footwear, fragrance and skinwear, gifting and stationery, jewellery, lingerie and sleepwear, luggage, neckwear, rugs, suiting, technical accessories, tiles and watches. The Company operates through three segments: retail, wholesale and licensing. It operates stores and concessions across the United Kingdom, Europe, North America and Asia and an e-commerce business based in the United Kingdom, primarily serving the United Kingdom and Europe, with separate the United States and Canadian sites dedicated to North America, and a separate site serving Australia. The Company's wholesale business in the United Kingdom serves countries across the world, particularly in the United Kingdom and Europe. The Company operates both territorial and product licenses.

Tracsis CEO, Chris Barnes and CFO, Andy Kelly discuss full year results for the year ended 31st July 2021. Chris Barnes, CEO 00:26 Highlights of the year Andrew Kelly, CFO 01:26 Financial overview including a breakdown by division Chris Barnes, CEO 05:58 Growth strategy Andrew Kelly, CFO 07:29 Acquisition of Icon Group Chris Barnes, CEO 08:25 Outlook Tracsis plc is a holding company. The Company is engaged in the business of software development and consultancy for the rail industry. Its segments include Rail Technology and Services, and Traffic & Data Services. The Rail Technology and Services segment includes its Software, Consultancy and Remote Condition Monitoring Technology, and also includes Ontrac Limited and Ontrac Technology Limited (together being Ontrac). The Traffic & Data Services segment includes data capture, analysis and interpretation of traffic and pedestrian data to aid with the planning, investment and ultimate operations of a transport environment and it also includes SEP Limited (SEP). It provides software products, consultancy services and delivers customized projects to solve a range of problems within the transport and traffic sector. It specializes in solving a range of data capture, reporting and resource optimization problems along with the provision of a range of associated professional services.

David gives a stream of consciousness, with his views on economic growth, interest rates, the Governor of the Bank of England, taxes, Government policy, and the relationship between the Bank of England and the Treasury. With COP26 being held earlier this week, he believes the Government have to set unachievable goals to make change happen. Finally he shares where he’ll be investing his money with this macro backdrop. He likes property and equities, especially tech, healthcare and biotech. He thinks Japan is interesting, but will avoid gold, commodities and bitcoin; he likes to sleep easily at night! 00:18 Introduction 01:14 Are OBR economic growth forecasts realistic? 04:38 Inflation and interest rates 12:45 Energy costs and green energy 16:23 Inflation 19:44 Tapering 20:39 Bond yield curve 21:28 Inflating away debt 25:53 Taxation 31:42 Where are investors best to invest their money for their future security both asset classes and sectors About David Buik David Buik worked in the City throughout his career, mainly for companies involved in money broking – EXCO, Prebon Yamane and BGC Partners and subsequently spreadbetting including City Index and Cantor Index. David was awarded an MBE in 2016 for his services to Financial Services. He often appears as a pundit on BBC and many other international TV and radio news channels. In 2020 he became a consultant to Aquis Exchange* (AQX). *About Aquis Exchange (AQX) Aquis Exchange PLC, formerly Aquis Exchange Limited, is a United kingdom-based company that operates as a pan-European cash equities trading exchange. The Company’s lit order book allows institutional traders to trade the stocks from 14 European countries. Its Market at Close order type allows members to enter orders on Aquis Exchange at the closing price of the market-of-listing end-of-day auction. It offers trading in a range of European financial instruments, including the constituents of the European indices from various markets. Its software and technology division, Aquis Technologies, develops trade surveillance and matching engine software for banks, investment firms and exchanges. Aquis Market Surveillance is a market surveillance platform for exchanges, multilateral trading facility, brokers and other trading firms. The features of its AMS include case management, market abuse indicators, management information system, order book replay and intraday alert parameter control.

This is the sixth Stockopedia/PIWORLD StockSlam hosted by Damian Cannon. Of the 50 holdings pitched to date, they are collectively up 11.2%. September's picks haven't done much, in line with the choppy market. Since pitching, Tekcapital (TEK) is up 211%! Renold (RNO) +79%, and Cake Box (CBOX) +58%. The dogs were Micro Focus (MCRO), Novacyt (NCYT), and Caledonia Mining (CMCL). (Damian is still positive about CMCL!). The format, each ‘slammer’ has 3 minutes to ‘slam’ their stock followed by 3 minutes of audience questions. We have to award the most innovative 'slam' to Leo Investor who took the StockSlam to a new level of ingenuity! We are in no doubt what Thruvision (THRU) does! These are just ideas, remember the presenter probably is talking their own book. Please do your own research! If you’d like to slam at a future StockSlam, please contact me via the PIWORLD contact page. These events are dependent on the 'Slammers'. 00:20 Introduction by Damian Cannon 03:41 Driver Group (DRV) – Damian Cannon 10:24 Crystal Amber (CRS) – Dee O’Hare 17:08 S&U (SUS) - Lewis Robinson 23:30 UP Global Sourcing (UPGS) – Mark Bentley 30:21 RBG Holdings (RBGP) – Jack Brumby 37:18 Pebble Beach Systems (PEB) – James Nelson 44:13 Thruvision (THRU) – Leo Investor 52:46 MISSION (TMG) – David Thornton 01:00:00 Marshall Motor Holdings (MMH) - D’Arcy Andrews 01:06:35 Damian Cannon closing remarks Thank you to all the 'slammers', it doesn't happen without you! The next Stockopedia/PIWORLD StockSlam is Wednesday 9th February, 6pm, please register via the events page.

A fascinating interview with Simon Laffin on what investors need to know about decisions made in the boardroom. Including, the most common problems facing a board. Simon's personal insight of his most uncomfortable experiences. How to spot fraud. LTIPs. The key financial metrics the Board should focus on. What to look for in acquisitions or bids. Forthright views from 30 years on different boards, all discussed in his new book Behind Closed Doors. Nuggets for investors to digest to be more aware of in their research. 00:18 Introduction 00:57 Simon’s background and what inspired the book 01:57 Why this is of interest to investors 02:53 What are the most common problems in the boardroom? 05:39 Simon's most uncomfortable board experience? 12:07 The most important financial metrics for the board to be aware of? 20:30 Do Board Directors and The City have a good moral compass? 22:40 LTIPS and remuneration 29:06 Acquisitions 40:36 How can we spot a bad board? 45:23 The book: Behind Closed Doors: The Boardroom, how to get in, get on and make a difference; and where to find Simon. Amazon links to the books mentioned: Behind Closed Doors - Simon Laffin The Signs were there - Tim Steer Accounting for Growth - Terry Smith About Simon Simon Laffin is an experienced chairman and non-executive director. He has served on both public and private boards, as well as having worked in private equity and been a FTSE-100 CFO. He is currently a non-executive director at Dentsu Group Inc (a Japanese-based global media company) and Watkin Jones plc (a listed UK property company). Previously, he has chaired Assura plc, Flybe Group plc and Hozelock Group, and served as a non-executive on Quintain Estates & Development plc, Aegis Group plc, Mitchells & Butlers plc, and Northern Rock plc (as part of the rescue team). His early career stretched from being a milkman, working in a post-room, to being a store manager and CFO at Safeway plc. Simon is passionate about making boards work better, for directors to learn from their own and others’ mistakes, for greater diversity at all layers of management, but especially in the boardroom, and for regulators to participate in helping boards make better decisions (instead of taking pot shots from the sidelines). Contact Simon through his website: http://www.simonlaffin.com/

GetBusy's CEO, Daniel Rabie outlines what the business does, the market drivers and the growth strategy through organic growth and acquisition, including the two new acquisitions of Quoters and DocDown. GETB aspire to double their ARR over the next 5 years. 00:21 What Get Busy does 00:55 Market drivers 02:30 The growth strategy 03:10 Acquisitions: 1. Quoters 2. DocDown 04:38 The opportunity GetBusy plc is a United Kingdom-based company. The company is engaged in document management software business. The Company’s product offering includes Virtual Cabinet and SmartVault. The Virtual cabinet is document management software focused on the medium size to enterprise size content management (ECM) markets. It is used by accounting firms in the United Kingdom. SmartVault product is document management software targeting the professional small and medium enterprise (SME) market. The Company has operations across the United Kingdom, United States, Australia and New Zealand.

Andy Brough initiated a challenge to private investors and fund managers back in May 2021. Referencing a stock mentioned in the StockChallenge Andy Tweeted: "A stock I have never heard of or met, maybe I should just have an information forum where people pitch ideas to fund managers. Just need to get a few more. Could be like judgement day (for those who remember his column in The Sunday Times) in reverse. Any other fund managers up for it?" Fortunately they were! Here, we bring you a fund manager panel of Andy Brough, Schroders, Judith MacKenzie, Downing and Stephen English, Stellar Asset Management, who listen to pitches by John Marriott (@F15JCM), Rebecca Stewart (@Reb40 AKA Aston Girl), Ryan Rahimikia (@Ryankia2) and Richard Crow (@RebelHQ AKA Cockney Rebel). Both sides, the pitches, and the fund managers questions and comments are enlightening. The format is work in progress. Get in touch with any comments. If you would like to get your name and a stock idea in front of top fund managers to 'Sell it to the City', contact via the PIWORLD contact page (link below). 00:18 Introduction & background. 02:13 John Marriott – Brave Bison (BBSN). 09:46 Fund manager questions on Brave Bison. (Mentions Mission (TMG) & STV (STVG)). 14:30 Fund manager feedback on Brave Bison. (Mentions Digitalbox (DBOX)). 18:00 Rebecca Stewart – Springfield Properties (SPR). 22:20 Fund manager questions Springfield Properties. 25:08 Fund Manager feedback on Springfield (Mentions: MJ Gleeson (GLE)). 27:45 Ryan Rahimikia: TransferWise (WISE). 34:30 Fund manager questions on TransferWise. (Mentions: Alpha Fx (AFX)) 41:30 Fund manager feedback on TransferWise. 45:11 Richard Crow – Creightons (CRL) 51:00 Fund manager questions on Creightons. (Mentions Warpaint (W7L) 57:28 Fund manager feedback on Creightons. 01:00:52 The results: who Sold it to the City? If you would like to pitch at the next Sell it to the City, please contact us here.

Vertu CEO Robert Forrester, and CFO, Karen Anderson present interim results for the period ended 31st August 2021.  Record results with profit before tax of £51.8m due to the  favourable used vehicle market conditions and outperforming market trends.  For the full year, they guide ahead of expectations with adjusted profit before tax of no less than £65m (previously £50-55m), the highest ever.  A comprehensive presentation with full details on all business areas and the strategy going forward. The presentation slides can be downloaded here: https://drive.google.com/file/d/1nunJ22BR-qSx5WBZSh0JTXqTlyvkP3ob/view?usp=sharing Robert Forrester, CEO 00:05  Introduction 00:36  The history & highlights of H1 FY22 05:21  H1 FY22  financial KPIs (slide 5) Karen Anderson, CFO 06:20  Financial results Robert Forrester, CEO 16:11  Strategic update (slide 13) 38:20  Current trading and outlook  Vertu Motors plc is an automotive retailer in the United Kingdom. The principal activity of the Company is the sale of new cars, motorcycles, and commercial vehicles and used vehicles, together with related aftersales services. The Company is engaged in the provision of management services to all subsidiary statutory entities. The Company operates a chain of franchised motor dealerships offering sale, servicing, parts and bodyshop facilities for new and used car and commercial vehicles. The Company also operates various franchise dealerships, such as Volvo, Volkswagen, Land Rover, Audi, Mercedes-Benz and Jaguar, and operates Honda dealerships in the United Kingdom. The Company operates approximately 125 franchised and over three non-franchised operations across England and Scotland. The Company's subsidiaries include Bristol Street First Investments Limited, Bristol Street Fourth Investments Limited, Vertu Motors (VMC) Limited and Grantham Motor Company Limited. Produced by BRR Media. Distributed by PIWORLD.

1Spatial's CEO, Claire Milverton and CFO, Andy Fabian present 1Spatial’s interim results for the period ending 31 July 2021. Claire Milverton, CEO. 00:17 Introduction 00:58 Overview of 1Spatial plc 01:41 The importance of location data 02:59 Growth gear change 04:06 Proof the strategy is working 05:10 NUAR contract 06:06 Defra and the Rural Payments Agency contract 06:30 HM Land Registry contract 06:57 New UK Government contract 07:17 Next generation 911 contract Andy Fabian, CFO 08:12 HY22 highlights 09:17 Growth in ARR 10:46 Regional revenue growth 11:39 Summary P&L and margin 12:50 Cash flow 14:14 Financials conclusion Claire Milverton, CEO. 15:03 Market, strategy & opportunity 15:12 Transformational market opportunity 16:09 Delivering on the growth strategy 19:02 Outlook 21:07 Q&A Claire Milverton, CEO. 32:42 Closing remarks 1Spatial plc is a holding company. The Company's principal activity is the development and sale of information technology software along with related consultancy and support. It operates through three segments: Geospatial, Cloud Services and Central costs. The Geospatial segment includes the core 1Spatial Group, including France and Belgium, and Laser Scan Inc. The Cloud Services segment is represented by Enables IT and its two smaller businesses: Avisen and Storage Fusion Limited, and its associate, Sitemap Limited. Its geospatial technology enables organizations to manage, validate, integrate and interpret spatial data from different sources. Its products and services include 1Integrate for ArcGIS, 1Spatial Cloud, 1Spatial Management Suite, Elyx Suite, FME, Geocortex, G-Cloud Services, consultancy, support and training. Its clients include national mapping and cadastral agencies, utility and telecommunications companies, and government departments, including census bureaus.