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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BG Group (BG.) AGM Report 2013

I attend BG Group’s AGM, which was held at the Hilton Hotel, Reading on 23rd May, at 11:30am. Some shareholders complained about the location (during the Q&A) but the hotel was close to motorway access and I understand that the company provided staff to guide attendees from the station. On arrival by car, I noted good signposting and plenty of BG-badged staff on hand to guide drivers to the hotel car park. The late morning timing was convenient, even for those that had to travel from ...

Graphite Enterprise (ICGT) AGM Report 2013

Graphite Enterprise Trust held its AGM on the 13th June at the Westbury Hotel in the West End of London. The company is an investment trust which specialises in private equity investments. There is plenty of background on this company on the main ShareSoc web site (see www.sharesoc.org/campaigns3.html ) because we ran a campaign to reduce the large discount to NAV. It’s also worth reading the previous AGM report in 2012 which is here. I will therefore keep this report fairly brief. ...

Globo (GBO) AGM Report 2013

I have reported on the two previous AGMs of this software company on the AGM Reports page if you want more background. It continues to make good progress with revenue from continuing operations up by 70% last year and earnings up by 33%. The published financials as reported by internet financial sites give a somewhat distorted picture because the previous year’s figures include the revenue of the Greek IT business which was de-merged during last year. The company now only owns ...

Maven Income & Growth VCT 4 (MAV4) – AGM Report 2013

Maven Income & Growth VCT 4 (MAV) is one of a stable of VCTs managed by Maven Capital Partners UK LLP (led by forceful Scotsman Bill Nixon who sits on the board of this company). The AGM was held on the 6th June at Maven’s offices in London. Originally launched in 2005, and previously called Aberdeen Growth Opportunities VCT 2, according to Allenbridge the total return since formation is 2.9% per annum. That is not a great performance bearing in mind ...

PV Crystalox Solar (PVCS) AGM Report 2013 – A small victory for private shareholders

As shareholders in PV Crystalox Solar (PVCS) will no doubt be aware, the business of this company has been devastated by the collapse in the open market price of solar wafers. As a result the company has incurred heavy losses in the last two years (€122m last year alone) and has been rapidly downsizing. The share price has collapsed from about 100p in early 2009 to about 12p today, only slightly perking up of late on the announcement of a return ...

Shell (RDSA) AGM Report 2013

I am writing this at my desk while watching/listening to the Royal Dutch Shell Annual General Meeting in Holland, broadcast over the web. It started at 9.00 am and we are so far about three hours through it. This is of course a real time saver over attending the meeting in person, with the downside that one cannot ask questions – there is another meeting in the UK tomorrow for investors to ask questions. Chairman Jorma Ollila opened the meeting by introducing ...

Greggs plc (GRG) AGM Report 2013.

This year’s Annual General Meeting of Greggs was held at the Marriott Gosforth Park Hotel, Newcastle. As readers may know, Greggs sells bread, cakes and “fast food” of various kinds including pasties through a nationwide network of shops. Revenue has grown in recent years but in their Interim Management Statement the company noted a fall in like-for-like sales and this was reported as a “profit warning” in the press (see more on this below). Analysts’ forecasts were revised down and the ...

Kentz (KENZ) AGM Report 2013

I attended the Kentz AGM yesterday in central London. All 7 Directors plus the CoSec (BDO) were there, along with 25 others. Of the 25, a number were affiliated with the company, the remainder were brokers, institutionals, and as far as I could tell only a few private investors. The meeting started with CEO Brown saying he expected further strong growth this year, and had great confidence in the momentum being maintained. The order book is larger (backlog is $ 2.57 bio ...

EKF Diagnostics (EKF) AGM Report 2013 – “A developing growth story”

Introduction I attended the above at Cannaccord yesterday, the company is part of the healthcare “buy and build” specialist David Evans “stable of companies”, following on from his successes of Axis Shield, BBI International. Business Dimensions Market Cap = £80M 2014 PE = 26.3! PEG = 0.50 Price to Sales = 2 The AGM The following members of the board were present: Chairman - David Evans CEO Julian Baines Finance Director – Richard Evans Non Exec - Dr Kevin Wilson Company Secretary - Paul Foulger Non Exec – Adam Reynolds There were about four shareholders present, ...

MyCelx Technologies (MYX) AGM Report 2013

As far as I could tell, I was one of only two private investors present. The room had perhaps 8 executives, and a small contingent who I assume were analysts or institutional investors. There was also someone from the Registrar, plus I would guess at least one representative from Numis and Addleshaw Goddard, the Company lawyers. We were warmly welcomed by the directors, who were all highly receptive to our questions, were forthcoming, and thanked us at the end for our ...