PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2019/06/17/ig-design-group-igr-fy19-results-presentation-june-2019/   By Paul Fineman, CEO & Giles Willits, CFO Introduction & overview – 00:18 Revenue breakdown - 02:30 Commitment to shareholders - 04:16 Financial overview - 06:25 Margin targets - 09:39 Cash conversion - 11:56 Balance Sheet & IFRS16 - 14:41 New banking facility - 15:32 Future targets - 16:49 Strategic drivers & outlook - 18:07 Impact Innovations - 24:03 Managing challenges - 25:48 2020 outlook - 28:42 Why invest? - 29:33 Q&A – 30:03 IG Design Group plc, formerly International Greetings plc, is engaged in the design, manufacture and distribution of gift packaging and greetings; stationery and creative play products, and design-led giftware. The Company's geographic segments include UK and Asia; Europe; USA, and Australia. The Company sells its products in over 150,000 stores across approximately 80 countries. It also offers a portfolio of licensed and customer bespoke products suitable for sale through multi channel distribution. The Company's products include crackers, pens and pencils, stickers, single cards and gift wrap. The Company offers its products under the brands A Star, B Stationery, Papercraft and Pepperpot. Its subsidiaries include Artwrap Pty Ltd, International Greetings UK Ltd, International Greetings USA, Inc, International Greetings Asia Ltd, The Huizhou Gift International Greetings Company Limited, Hoomark BV, Anchor International BV and Hoomark S.p.z.o.o.

This video can be sen at: https://www.piworld.co.uk/2019/06/17/t-clarke-cto-presentation-at-mello-may-2019/   T Clarke (CTO) Presentation at Mello May 2019 By Mark Lawrence, Gp CEO & Trevor Mitchell, Gp FD Video overview of T Clarke - 00:18 Introduction - 02:28 What CTO does - 03:27 Financial summary - 06:09 Current market expectations for 2019 - 07:49 A selection of current projects - 08:53 Our five target markets - 09:46 Investment case - 11:25 Five strategic markets - 13:49 TClarke Europe - 20:15 Summary – 22:28 Shareholder returns - 22:49 Q&A – 23:16 TClarke plc is a United Kingdom-based building services company, which delivers electrical, mechanical, and information and communications technology (ICT) services. The Company provides electrical and mechanical contracting and related services to the construction industry and end users. Its geographical segments include London and South East, Central and South West, the North and Scotland. The Company's businesses include Intelligent Buildings Green Technologies, Facilities Management, Transport, Mission Critical, Manufacturing Services, Residential & Hotels, M&E Contracting and Design & Build. The Company within its M&E contracting business has capabilities in sectors, including commercial offices, retail, education, healthcare, financial services and media. Its Manufacturing Services business includes in-house precision prefabrication and engineering services. Its projects include Beckley Court, Chiswick Park, Kettering Hospital, Project Nova, Mitie Care Home and Rathbone Square.

This video can be seen at: https://www.piworld.co.uk/2019/06/17/tavistock-investments-tavi-presentation-at-mello-may-2019/   By Brian Raven, CEO & Q&A with contribution from Oliver Cook, Chairman Introduction - 00:18 Why invest in Tavistock? - 01:04 Why financial services? - 02:15 The strategy - 03:54 The brand - 05:44 Strategic partnerships - 07:01 Delivering explosive growth & business model - 08:02 The timeline - 11:13 The financials - 11:49 Group structure & detail - 15:57 Our process - 22:45 Leadership team - 23:40 The guaranteed product & Morgan Stanley - 27:41 i-Stock: free of charge account - 31:14 Summary – 33:24 Q&A – 33:54 Tavistock Investments Plc is engaged in the provision of support services to a network of independent financial advisories (IFAs) and the provision of investment management services. The Company's segments include Investment Management and Advisory Support. The Company operates in three businesses, including Tavistock Partners Limited (Tavistock Partners), Tavistock (Tavistock Financial) and Tavistock Wealth Limited (Tavistock Wealth). Tavistock Wealth provides retail clients with access to institutional quality portfolio management. Tavistock Partners provide administration and accounting services to the IFAs. The Company's subsidiaries include Tavistock Wealth Limited, Tavistock Partners Limited, Sterling McCall Limited, Cornerstone Asset Holdings Limited and Duchy Independent Financial Advisors Limited.

This video can be seen at: https://www.piworld.co.uk/2019/06/12/park-group-park-final-results-to-31-march-2019/  CEO Ian O’Doherty provides an overview of Park Group’s final results for the year ended 31 March 2019 and the implementation of the strategy. Highlights - 00:22 Operational performance - 00:52 Implementing the strategy - 01:29 An evolving market place - 02:44 Summary & outlook - 04:27 Park Group plc is a multi-retailer gift voucher and prepaid gift card business, which is engaged in delivering rewards and prepaid products to the consumers and corporates in the United Kingdom. The Company focuses on consumer prepayments and corporate reward and incentive programs. The Company's segments include consumer and corporate. The consumer segment includes the Company's sales to consumers, utilizing its Christmas savings offering. The corporate includes the Company's sales to businesses, offering primarily sales of the Love2shop voucher, flexecash cards and other retailer vouchers to businesses for use as staff rewards/incentives, marketing aids and prizes and all online sales. Love2shop is the multi-retailer gift voucher and prepaid gift card, accepted at over 140 retailers with approximately 20,000 stores in the United Kingdom. It offers flexecash, which is its information technology infrastructure. Its Park Christmas Savings Club operates through a network of agents.

This video can be seen at: https://www.piworld.co.uk/2019/06/11/malvern-international-mlvn-presentation-at-mello-may-2019/   By CEO Sam Malafeh and CFO Bharat Guha. Sam Malafeh (CEO) Introduction – 00:18 History – 01:29 The management team – 03:18 The education industry – 05:21 The business model – 07:53 Why Malvern? - 11:44 Accreditation & partners – 14:48 Scalability - 17:47 Locations - 18:07 Financial progress – 19:10 Bharat Guha (CFO) Bharat’s background - 19:37 Financial progress continued - 20:08 Group strategy - 22:55 Sam Malafeh (CEO) Conclusion - 24:10 Q&A – 25:16 Malvern International (MLVN) Malvern International plc, formerly AEC Education plc, is an investment holding company, which is engaged in the provision of educational consultancy services. The principal activity of the Company is to provide an educational offering that is principally towards preparing students to meet the demands of business and management. The Company's segments include Europe and South East Asia/Middle East. The Company's Europe segment includes London and Cyprus operations. The Company's South East Asia/Middle East segment includes Malaysia and Singapore. The Company offers courses, including certificate, diploma and pre-university programs; university degree and postgraduate programs; preparatory courses for professional examinations; tuition services for secondary school students, and English language teaching. The Company's schools include Malvern House, London; Malvern International, Kuala Lumpur, and Malvern House, Cyprus.

This video can be seen at: https://www.piworld.co.uk/2019/06/11/gresham-house-energy-storage-fund-plc-grid-presentation-at-mello-trusts-funds-may-2019/ By Bozkurt Aydinoglu Introduction – 00:17 A typical energy storage plant - 01:17 Summary of the fund - 02:29 Key investment characteristics - 06:11 Assets - 11:14 The market background - 11:45 Persistent volatility and wasted power - 13:42 A hedge for renewable investments - 15:09 Revenue opportunities - 17:07 Revenue assumptions - 20:40 Competitive advantages - 21:48 Upside return - 25:14 Noriker Power - 25:38 Conclusions - 26:39 Q&A - 28:50 Gresham House Energy Storage fund plc (GRID) Gresham House Energy Storage Fund Plc is a United Kingdom-based closed-ended investment company. The Company’s investment objective is to provide investors with a dividend over the long term by investing in a diversified portfolio of utility-scale operational energy storage systems (ESS), which utilize batteries and also utilize engines, located in Great Britain. It also seeks to invest in projects with alternative battery technologies, such as sodium and zinc derived technologies or other forms of energy storage technology, such as flow batteries or machines and compressed air technologies. The Company also intends to invest in ESS Projects, which use gas generators or diesel or dual fuel diesel-and-gas reciprocating generators. The Company is managed by Gresham House Asset Management Limited.

This video can be seen at: https://www.piworld.co.uk/2019/06/11/gresham-house-strategic-plc-ghs-presentation-at-mello-trusts-funds-may-2019/   By Graham Bird – Fund Manager Gresham House overview – 00:17 Gresham House Strategic overview - 03:07 What is strategic public equity? - 07:38 Market opportunity - 10:30 Performance - 14:34 Process - 15:18 Qualifying opportunities - 19:11 Value enhancements - 22:04 Top 10 holdings – 24:30 Track record - 29:31 The team - 29:45 Conclusion - 30:08 Q&A - 31:35 Gresham House Strategic (GHS) Gresham House Strategic plc, formerly SPARK Ventures plc, is a United Kingdom-based investment company. The Company invests primarily in the United Kingdom and European smaller public companies, applying private equity type of techniques and due diligence, alongside a value investment philosophy to construct a portfolio. In addition to publicly quoted companies, the Company may also invest approximately 30% of the portfolio in selected unquoted securities, including preference shares, convertible instruments, limited partnership interests and other forms of investments. The Company's investment manager is Gresham House Asset Management Ltd. The Company's subsidiaries include SPARK India Ltd, SPARK Services Ltd and Quester Venture GP Ltd.

This video can be seen at: https://www.piworld.co.uk/2019/06/10/national-milk-records-nmrp-presentation-at-mello-may-2019/   By Andy Warne, MD & Mark Frankcom, FD Introduction – 00:18 Delivering results and passionate about growth – 01:13 Milk we give the provenance of the product – 02:56 We partner & protect; we ensure and assure; we service and support – 03:52 Corporate overview – 05:45 The Board 06:56 What do we do? – 08:03 Revenue streams – 09:53 Milk recording – 10:17 Payment testing – 11:52 Disease testing – 13:10 Genomics – 15:04 Financials – 16:40 NMR Strategy on a page – 19:41 The growth strategy – 24:16 Investment case – 26:05 Liquidity – 27:18 Q&A – 28:45 National Milk Records plc is a supplier of dairy and livestock services. The principal activity of the Company includes provision of management information to dairy farmers through National Milk Records and the provision of milk payment testing services to milk buyers through National Milk Laboratories (NML). The Company is a supplier of milk recording services in the United Kingdom, providing management information on individual cow’s performance in terms of milk quality, yield and fertility. The Company also supplies aggregate data to over 30 dairy industry bodies, including milk buyers, Agriculture and Horticulture Development Board (AHDB) Dairy and breed societies. The Company offers various services, including disease testing, GeneTracker, bull semen, monitoring, pregnancy testing, energy balance, microbiology, fatty acid profiling and payment testing. Its software includes Herd Companion, Pocket Companion, iReports, InterHerd, InterHerd+, UNIFORM and Bull Search.

This video can be seen at: https://www.piworld.co.uk/2019/06/10/avation-avap-presentation-at-mello-may-2019/   By Richard Wolanski, FD Introduction – 00:18 Company overview – 01:17 Snapshot of Avation – 08:22 Half Year 2019 Summary – 14:02 Historical Operation & Financial Performance – 14:56 Half Year 2019 Summary – 15:35 Attractive Industry Fundamentals – 20:28 Attractive Aircraft Portfolio – 23:14 Customers – 26:10 Growth and diversification continues – 26:50 Fleet growth – 28:24 Proven track record – 28:46 Summary – 29:37 Q&A – 32:14 Avation PLC is a United Kingdom-based company engaged in leasing of aircraft. The Company is a commercial passenger aircraft leasing group managing a fleet of 47 aircraft, which are leased to airlines globally. The Company’s fleet includes Airbus A220, A220-300 A320 and A321 narrow-body jets, Boeing 777-300ER and Airbus A330-300 twin-aisle jets, Boeing 737-800 NG, ATR 72 twin engine turboprop aircraft and five older Fokker 100 jets. It supplies regional, narrow-body and twin-aisle aircraft to the airline industry. It serves the commercial airlines. It owns, through its subsidiaries, a range of commercial passenger jet aircraft, which are leased to various airlines in Europe, Asia and Australia. The Company’s subsidiaries include Avation Capital S.A., which is engaged in financing, and Capital Lease Aviation Limited and MSN429 Leaseco Limited, which are engaged in aircraft leasing.

This video can be seen at: https://www.piworld.co.uk/2019/06/10/circle-property-crc-presentation-at-mello-may-2019/   John Arnold, CEO, Edward Olins COO Introduction – 00:20 Overview – 00:43 What we do – 02:53 Current portfolio – 04:32 The board & supporting team – 05:29 Company history – 07:19 Our strategy – 09:52 Market watch – falling supply in regional cities – 11:53 2018 Highlights – 13:19 The investment opportunity – 14:20 The reversionary opportunity – 15:46 Case Study – Somerset House, Birmingham – 17:07 Case Study – Great Charles Street, Birmingham – 19:16 Case Study – Kents Hill Business Park, Milton Keynes – 20:03 Financial summary – 22:44 Summary – Future Growth – 23:34 Appendix – 25:20 Q&A – 26:59 Circle Property Plc is an investment and development company. The Company invests in commercial properties. The Company’s portfolio consists of approximately 20 commercial property investments and developments in the United Kingdom. The portfolio totals approximately 640,150 square feet of accommodation, the majority of which, by floor area, is in the office sector. The Company’s property portfolio includes Baildon Bridge Retail Park, which is located in Shipley; Solstice Park Avenue, which is located in Amesbury; Winwick Road, which is located in Warrington; 141 Moorgate, which is located in London; Week Street, which is located in Maidstone; One Castlepark, which is located in Bristol; Kents Hill Business Park, which is located in Milton Keynes; 36 Great Charles Street, which is located in Birmingham; 135 Aztec West, which is located in Bristol; Elizabeth House, which is located in London Road, Staines, and Somerset House, which is located in Temple Street, Birmingham.