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ULS Technology, Keystone Law and Collusion on IPO Pricing

Yesterday I attended an interim results presentation by ULS Technology (ULS). They have been listed on AIM for a couple of years and have grown both from organic increases in revenue and from acquisitions which is often a good formula. They operate in the legal conveyancing and estate agency market where volumes have not been great of late – it seems house prices have made it difficult for folks to move plus changes to stamp duty and buy-to-let taxes have deterred ...

A Cautionary Tale from Paul Scott

City AM published an educational story last week which is worth repeating. It covered the investment record of Paul Scott who is very well known in the small cap investment world. He writes very perceptive, and quick, analyses of announcements by smaller companies for Stockopedia with a strong emphasis on the financial accounts. He trained as an accountant and worked for a retailing company as finance director for some years. He then became a professional investor – one might say living ...

FRC study: Risk and Viability Reporting

In July of this year, UKSA and ShareSoc members received an email inviting them to participate in a survey being run by the Financial Reporting Council (FRC). The survey was part of a wider study being carried out by the FRC into Risk and Viability Reporting. Over 190 members responded which was an excellent result. The FRC agreed that it would provide feedback for members on the results of the survey. This article from Patrick Leach at the FRC summarises the ...

Shareholder Rights – MoneyWeek article

Shareholder rights and in particular their erosion due to the nominee system are a big problem and one that both the UK Shareholders Association and ShareSoc campaign on (see our Shareholder Rights Campaign). It is hugely disappointing that HM Government has put this on the back burner due to prioritising Brexit and the Great Repeal Act. I would like to draw your attention to this article https://moneyweek.com/small-investors-voting-rights/ which includes comment from both the UK Shareholders Association and ShareSoc. My own comment in particular, ...

Chancellor’s Budget and How It Affects You

What follows is a summary of Chancellor Philip Hammond’s Budget speech today, and the impact of the tax changes. Private investors were particularly concerned about the impact of tax reliefs in the VCT/EIS schemes following the Patient Capital Review but these are in fact relatively minor (see end of document). This is a summary of the key points he announced: The Chancellor said we are on the brink of a technological revolution, we must embrace it. Britain is at the forefront, but ...