AGM Reports

AGM Reports

Our library contains reports on the Annual General Meetings of a large number of listed and quoted companies that our members have attended. This unique resource provides valuable insights for investors in those companies, not available anywhere else.

You will find summaries of our AGM reports on this page. You can also search for reports on a specific company, using our “Research” feature. Only full members of ShareSoc can view the full details of our AGM reports and need to login to do so. If you wish to gain access, click here to become a full member, for less than 90p/week and gain full access to our library of hundreds of AGM reports, as well as other member benefits.

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B.P. Marsh (BPM) AGM Report 2015

A brief report. I went to the AGM on 22 July and suspect that I was the only 'outsider' although they made me very welcome. There was no trading statement but Brian Marsh was very happy to take specific questions which were farmed out to the various directors responsible. I queried some of the positive valuations in the annual report given that some of the investee companies are showing a loss and/or negative capital. In some cases they have the benefit ...

BT Group plc (BT.A) AGM 2015

AGM held at 11 am on 15th July 2015 at 1 Old Billingsgate, London and was closed at 1 pm for lunch. Share price £4.65 – a FTSE 100 company with a £39bn market cap. There were approx. 1,000 attendees. Sir Michael Rake, Chairman of BT opened the meeting. Chief Executive Gavin Patterson made a presentation on BT’s progress. BT has four core services: Fixed Line, Broadband, TV (TV anywhere, Netflix, AMC American Channel) & Mobile (buying EE). Content is being driven by BT Sport ...

Telecom Plus (TEP) AGM Report 2015 – Creative Accounting and Pay Issues

Telecom Plus which trades as "The Utility Warehouse" held its AGM today (11th August 2015). The company provides a complete range of utility services - gas, electricity, broadband, fixed line and mobile phones via a "club" concept promoted by a network of self-employed (mainly part-time) distributors. They offer competitive pricing and an efficient operation (I am one of their customers) although some of the newer entrants in the gas/electricity sector may be cheaper at this moment. But that may not last ...

Daniel Thwaites (DANIEL) 2015 AGM report

A trip to Leeds for the annual general meeting of Daniel Thwaites, one of the UK’s oldest family brewers, on July 30, left me little the wiser on a question I have been wrestling with for some time. Is Blackburn-based Thwaites (THW), an ISDX-listed brewery, pubs and hotels group, with a market cap of around £70m, a hugely under-rated value play, or a company in terminal decline? Thwaites’ shares, which at £1.15 are trading at a 60% discount to the company’s net ...

Red24 AGM Report 2015

Red24 (www.red24.com) is a small crisis assistance company capitalized (28p per share) at £14m. It is listed on AIM (ticker REDT) and floated in 1999. Essentially Red24 helps businesses and their employees and customers avoid or manage security risks in unfamiliar or threatening parts of the world. It holds £3.2m net in cash and earned in 2014/5 (year end Mar 31) 1.82p per share. The ex-cash historic PE is thus 11.9. FinnCap, its broker, has increased expectations of 2015/16 earnings three times ...

Acal plc (ACL) AGM 2015

AGM held at 11 am on 29th July 2015 at Acal’s offices: 2 Chancellor Court, Occam Road, Surrey Research Park, Guildford, Surrey GU2 7AH Share price 300p – a FTSE Small Cap company with a £200m market cap. There were 10 attendees plus 6 Directors so few shareholders as several attendees were advisers. Richard Moon, the Chairman opened the meeting with a trading statement: Acal reported 2015 results with sales up 39% to £271m and excluding exchange rate fluctuations sales were up 51%. Acal’s plan ...

Charles Stanley (CAY) AGM Report 2015

Charles Stanley Group Plc (CAY) are a long-established stockbroker. Their recent results have been poor and they had to do a share placing to strengthen their capital position a few weeks ago. They also disposed of one division recently, perhaps for the same reason. There were about 50 shareholders present (more than I expected) at their offices in the City of London for the meeting. The Chairman is Sir David Howard who was previously Executive Chairman, but is now non-exec. His family ...

GB Group (GBG) AGM Report 2015

I drove to the GB Group AGM in Chester but fortunately they set the time at 1.00 pm even though their post code of CH4 9GB led my Satnav to their old offices about a mile away (they have a customised post code you will notice). The heavy traffic on the roads and the numerous accidents (on the M25, A14 and M1, all of which I had to divert around) tells you a lot about the state of the economy. In ...

British Smaller Companies VCT Plc (BSV) AGM Report 2015

British Smaller Companies VCT (BSV) yesterday (29th July 2015) held their annual general meeting in central London at midday. There were more shareholders present than prior years with at least 12 turning up, and with the board plus representatives from the Fund manager (YFM Equity partners), the room started to look a little packed when the meeting started. Some figures for the 2014-2015 year are as follows: dividends paid in the year 8p, equating to a yield of 9% (which is of ...

Downing ONE VCT (DDV1) AGM Report 2015

Downing ONE VCT Plc held its Annual General Meeting on the 27th July on the Horseferry Road in London in Downing's offices. Downing manage the fund of this Venture Capital Trust. It was the second VCT AGM I have attended since the Budget rule changes that affect VCTs and there was a lengthy discussion of that subject which you may find particularly interesting. There were only 4 ordinary shareholders present but they all asked questions - but that's not a good ...