PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2020/03/10/ultra-ule-fy2019-results-presentation-10th-march-2020/   Presentation given to analysts on Tuesday 10th March, 2020. By Simon Pryce, CEO and Jos Sclater, Group CFO Simon Pryce, CEO Introduction – 00:18 Overview of 2019 – 01:57 Strategy update – 05:05 The Focus; Fix; Grow transformation – 07:59 Transformation – 11:25 Areas of increased focus for 2020 – 14:56 New contracts won in H2 – 21:55 Solid future pipeline – 24:18 Jos Sclater, Group CFO Financial review – 26:04 Simon Pryce, CEO Summary – 42:49 Q&A – 45:03 Ultra Electronics Holdings plc provides solutions and products in the defense and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. Its market facing segments are Aerospace, Infrastructure, Nuclear, Communications, C2ISR, Maritime, Land and Underwater Warfare. The Aerospace & Infrastructure division produces high-integrity, safety critical electronic control systems for aircraft applications, including position sensing and control; airframe and engine ice protection and detection; electronic architectures; weapon control, and noise cancellation systems. The Communications & Security division provides mission critical, information dominance solutions. The Maritime & Land division provides sensors, combat management systems, power solutions for surface, sub-surface and unmanned platforms.

This video can be seen at: https://www.piworld.co.uk/2020/03/09/bango-bgo-presentation-at-the-progressive-equity-research-piworld-investor-event-january-2020/   Ray Anderson, CEO gives an overview of the Bango (BGO) business model. Introduction by Gareth Evans, Progressive Equity Research – 00:17 Ray Anderson Introduction - 00:48 Bango’s market focus - 01:33 In-app payments - 03:13 Partners - 04:58 The Bango virtuous circle - 05:57 Business model & revenue generation - 07:37 Revenue and gross profit - 09:40 Bango’s strategy is delivering - 12:14 Platform capacity – cost stable -13:50 H1 summary - 14:58 Outlook - 15:13 Growing data driven revenues - 16:58 Summary – 20:25 Q&A - 20:53 Bango PLC (Bango) offers the Bango mobile payment platform. The Company's principal activity is the development, marketing and sale of technology to enable mobile phone users to make payments for digital content and media on smartphones and tablets. The Company's segments include End user activity and Platform fees. The End user activity segment includes the content access fees paid by end users for accessing chargeable content provided by digital merchants, adjusted to take account of whether Bango is agent or principal in the transactions. The Platform fees segment includes the amounts paid to Bango by digital merchants and others for package fees and other services, including analytics and operator connections. Bango Grid is a resource for Bango application store partners to plan their payments strategy. Bango Grid enables partners to find the statistics of every mobile operator globally, and a range of other payment methods.

This video can be seen at: https://www.piworld.co.uk/2020/03/06/michael-taylor-trading-in-your-20s/   Michael Taylor AKA Shifting Shares is another of our young investors. Michael started trading in his 20’s, within a short amount of time found he could make more money from it, than from his day job. Today, still in his 20’s, he continues to trade. In addition, he writes on the subject for the Investors Chronicle, ShareScope and other publications, additionally he has produced his own books. Here we hear a little about Michael’s journey, his trading and his views on the markets. How did you get involved in investing – 00:55 How did you teach yourself – 02:13 How long to go full time? – 04:55 What is your strategy – 08:50 How long will you hold a share? - 10:48 What’s your view on market makers? - 13:30 How many trades will you do in a week? - 14:20 What’s the day in a life of a trader - 15:30 How big a part is psychology in trading? - 17:05 What is your winning formula? - 18:40 How do you time the market? – 23:43 Should every investor have a trading part to their portfolio? – 25:00 Isn’t liquidity an issue? - 25:45 What factors play against the retail investor? - 26:50 What more can we do to encourage more young people to invest? - 30:53 More about Michael – 33:28   Find out more about Michael here: https://www.shiftingshares.com On Twitter @shiftingshares  

This video can be seen at: https://www.piworld.co.uk/2020/02/28/the-china-dolls-investment-club/   A charming introduction to The China Dolls investment club who have achieved at 105% return over the last 10 years. We join three members of the group, Pam, Virginia and Mary, prior to their monthly evening meeting. We learn how they set up and run their club, where they find their investments, what they like, how they manage the investments, and the fun they have with it all. Thoroughly engaging watching. The China Dolls investment returns – 00:26 Background of China Dolls – 00:58 Do you manage your own money independently, as well? – 03:05 What are your criteria for stock selection? - 05:13 How well do you understand financial accounts? - 10:24 How do you react to a profit warning? - 12:15 Fevertree (FEVR) – 13:20 Genus (GNS) - 16:30 Difficult times in the markets - 18:42 How do the group react if another member picks a dog? - 19:52 Hurricane Energy (HUR) and oil shares - 21:53 Cash - 22:57 Tonight’s tips – 23:04 How much time do you spend on this? - 29:20 Why do you think there are less women investors? – 31:09 Does the background of the group help with your investing? – 32:25 What tips do you have for others setting up an investing club? - 33:20 How much do you need to start an investing club? - 35:35 What’s the best thing about your investing club – 38:12 One piece of advice for anyone setting up an investing club? – 38:41   China Dolls investment club formed in 2000 with an initial investment of £100, with monthly contributions of £30. This was increased to £40 in 2012. Below are returns, from May 2000 today, assuming no withdrawals nor purchases of any more units, (if a member withdraws units these are available for others to purchase). 2010 +10.52% 2011 54.99% 2012 36.97% 2013 44.57% 2014 62.45% 2015 66.24% 2016 46.56% (Losses: Advanced Oncotherapy, Applied Graphene & Weir Gp) 2017 83.44% (a £5k profit realised on ARM holdings & Fever Tree up to £13ps) 2018 121.38% (Fever Tree over £21; IQE up over 200%) 2019 108.66% (IQE gain now only 18%, another share we should have sold!)

This video can be seen at: https://www.piworld.co.uk/2020/02/27/diaceutics-dxrx-presentation-at-sharesoc-london-february-2020/   Presented by Peter Keeling, CEO Introduction – 00:20 What is Precision Medicine? - 02:05 Patient pathway - 04:20 What Diaceutics do - 07:57 The market - 11:05 Key metrics - 13:50 Diagnostic commercialisation platform - 17:16 Revenue analysis - 19:01 Diaceutics PLC is a United Kingdom-based data analytics and implementation services company which services the global pharmaceutical industry. The Company offers end to end services that encompasses from understanding the diagnostic landscape to test implementation into treatment pathways to enable better treatment decisions for patients. The Company’s data analytics and implementation services, including Landscape, Tracking, and Primary Market Research, leverages the diagnostic testing information to provide data-driven insights to drive seamless integration of diagnostic tests into treatment pathways. Its implementation services include Planning, Commercialization and Reimbursement Landscapes, to build the strategies and implement the tactics that drives optimal test utilization, ensuring that patients are getting the right treatment.

This video can be seen at: https://www.piworld.co.uk/2020/01/31/sthree-stem-fy-results-presentation-year-end-30th-november-2019/   Analyst presentation January 2019 by Mark Dorman, CEO & Alex Smith, CFO Mark Dorman, CEO Who is SThree? – 00:39 Our purpose – 02:06 Performance highlights – 2:55 Alex Smith, CFO Financials – 03:45 Mark Dorman, CEO The opportunity – 13:35 Business overview – 17:23 Group KPIs – 18:06 Performance by region – 20:15 Strategy and outlook – 24:22 Outlook – 27:45 SThree plc is an international staffing company, which provides specialist recruitment services in the science, technology, engineering and mathematics (STEM) industries. The Company provides permanent and contract staff to sectors, including information and communication technology (ICT), banking and finance, life sciences, engineering and energy. The Company’s segments include the United Kingdom & Ireland (UK&I), Continental Europe, the USA, and Asia Pacific & Middle East (APAC & ME). The Company’s recruitment brands include Computer Futures, Progressive Recruitment, Huxley and Real Staffing. The Company’s other brands include Global Enterprise Partners, Hyden, JP Gray, Madison Black, Newington International and Orgtel. The Company delivers contract, permanent, projects, retained and executive search recruitment solutions. Its support and mobility services offer contracting, relocation and relevant visa support. It provides resources to support its brands with contractor services.

This video can be seen at: https://www.piworld.co.uk/2020/01/28/nwf-group-nwf-interim-results-to-30-november-19-overview/   Richard Whiting, Chief Executive and Chris Belsham, Group Finance Director, run through interim results (to 30.11.19), released on 28th January 2020. Richard talks through the development strategy including the acquisitions in the fuel division to consolidate the sector, and a new warehouse in the foods division, backed by customer contracts, both will be earnings enhancing in 2021. Richard Whiting, Chief Executive Introduction – 00:19 Interim results summary – 00:41 Fuels operating highlights – 01:17 Food operating highlights – 02:10 Feeds operating highlights – 03:02 Chris Belsham, Group Finance Director Financials 03:48 Richard Whiting, Chief Executive Development strategy – 07:43 Summary and outlook – 10:04 NWF Group plc is engaged in the manufacture and sale of animal feeds, the sale and distribution of fuel oils, and the warehousing and distribution of ambient groceries. The Company operates through three segments: Feeds, Food and Fuels. The Feeds segment is engaged in the manufacture and sale of animal feeds and other agricultural products. The Food segment is engaged in warehousing and distribution of clients’ ambient grocery and other products to supermarket and other retail distribution centers. The Fuels segment is engaged in the sale and distribution of domestic heating, industrial and road fuels. The Company’s subsidiary, Boughey Distribution Limited, is engaged in warehousing and food distribution. Its subsidiaries, NWF Agriculture Limited, S.C. Feeds Limited, New Breed (UK) Limited and Jim Peet (Agriculture) Limited, are engaged in animal feedstuffs and seeds supply. Its subsidiaries, NWF Fuels Limited and Staffordshire Fuels Limited, are engaged in fuel distribution.

This video can be seen at:  https://www.piworld.co.uk/2020/01/26/gresham-house-ghe-review-of-2019/   By Tony Dalwood, CEO Overview of 2019 - 00:23 Growth in 2019 - 01:18 Culture and values - 02:10 Diversity of assets offered for all investors - 03:05 Investment process and sustainability - 04:12 New opportunities - 04:57 International growth - 06:06 Outlook for 2020 - 06:34 The next five years - 07:15 Gresham House plc is an asset management company. The Company focuses on managing funds and co-investment or club deals across a range of differentiated and illiquid alternative investment strategies for third-party clients. Its segments include Asset Management, Forestry Management, Investment in Securities and Property Investment. The Company invested in securities and maintained its investment in commercial properties. It is developing a platform for product development, distribution and structured discretionary co-investment. Its property portfolio consists of the property in Speke, Liverpool, known as Southern Gateway, and a residual approximately five acres at Newton-le-Willows. Its subsidiaries include Aitchesse Limited, Gresham House Asset Management Limited, Chartermet Limited, Deacon Commercial Development and Finance Limited, Gresham House Finance Limited, Gresham House Holdings Limited, Gresham House Investment Management Limited and Gresham House Real Assets Limited.

 This video can be seen at: https://www.piworld.co.uk/2020/01/24/ultra-electronics-ule-capital-markets-day-january-2020/   CEO Simon Pryce and the ULE management team give details on Ultra's new Corporate Strategy and focus on Maritime and Intelligence & Communication divisions. The presentation also provides insight into the Focus, Fix, Grow improvement opportunities and broader growth ambitions for the Group. Simon Pryce, CEO Introduction  The Team  Ultra, the background and opportunity  Focus  Fix & grow  Richard Cashin, Strategy Director Market dynamics Thomas Link, SBU President Maritime  Q&A Mike Baptist, SBU President Intelligence & Communications  Richard Cashin Strategy Director Other specialist businesses  Q&A  Jos Sclater, CFO First Impressions  Simon Pryce, CEO Future aspiration Key Takeaways  Q&A    Ultra Electronics Holdings plc provides solutions and products in the defence and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. Its market facing segments are Aerospace, Infrastructure, Nuclear, Communications, C2ISR, Maritime, Land and Underwater Warfare. The Aerospace & Infrastructure division produces high-integrity, safety critical electronic control systems for aircraft applications, including position sensing and control; airframe and engine ice protection and detection; electronic architectures; weapon control, and noise cancellation systems. The Communications & Security division provides mission critical, information dominance solutions. The Maritime & Land division provides sensors, combat management systems, power solutions for surface, sub-surface and unmanned platforms.

This video can be seen at: https://www.piworld.co.uk/2020/01/10/eis-investing-with-tim-j-grattan/ Tim gives us a tremendous overview of EIS investing, why governments offer EIS tax breaks, what they are, how to take advantage of them, the pitfalls, and his overall performance during the 10 years he’s been doing them. A great personal insight. Tim Grattan’s background – 00:29 What is an EIS and why does the Government offer them? - 02:14 Have EIS schemes created growth in those companies? - 04:30 Will the tax incentive be taken away? - 05:27 The EIS tax benefits - 06:14 What’s the difference between a VTC and EIS? – 11:00 What are the capital limits for an EIS? - 11:38 What qualifies an SME for EIS? - 13:39 What type of EIS do you favour? - 17:05 Nex Markets – 22:44 Do any companies fall foul of their EIS requirements? - 23:15 What are the risks with EIS investments? - 25:47 What are your preferences for EIS opportunities? - 27:06 The winners and losers over the last 5 years - 28:24 What level of research do you do? - 34:35 What’s your overall performance been over the last 10 years? - 38:00 Why would you sell out before the 3-year period? - 38:54   About Tim J Grattan Tim completed his post grad degree in Synthetic Chemistry in 1983 and then took up a position in the Pharmaceutical Industry working in Pharmaceutical development, he continued his career in the Pharmaceutical Industry working for a number of companies in different roles within R&D and took early retirement following a departmental reorganisation at his last employer having completed 24 years in the industry. Tim first became involved with share investments through the Thatcher era privatisations which lead to an interest in the wider market and he is now a full-time investor, focusing mainly on tax advantaged UK listed shares, namely VCTs and EIS qualifying AIM quoted shares in the Tech and Pharm Tech sectors.