jefke

HUM.AX - "Value unlock via activism, 4-5x earnings ex cash vs peers at 10-13x, special divs, buybacks, new div policy post activism could lead to a double " Incredible governance shitshow. Raper teamed up with successful Aussie fund CSAM, they hold 9.32% of shares together by now. Claims to have other big holders on his side, launching an EGM to remove founder/chairman of BoD and other directors. 55% voted against remuneration at the AGM in Nov => credible path to succeed (need 50% of votes cast to remove directors)

Saw this one pop up on twitter: Broadleaf $3673 https://x.com/alexeliasson/status/1890801339971563531 "Market leading software provider to the Japanese automotive aftermarket. Full focus on transition to SaaS since 2022, taking a big up front hit." Everything seems to be on track and anything in the neighbourhood of their "2028 plan" is a homerun. (That said, these plans are not guidance!)

TIGO, AER, SCR.TO

With their LSXMA & LSXMK shares, they will own almost 30% of "new" SIRI after the collapse of LSXM... & SIRI into 1 share class.

Bought more $AER on Friday near the close. Now below BV ($89.5) again.

I got the feeling Belgium take privates are usually tender offer + squeeze out if 95% threshold is reached. So 5% could block the full take private. Dno if there are other mechanisms. In a merger, a shareholder vote with 75% in favor suffices. (I'n not an expert here, could be wrong or missing something!) (Also dno if this really matters for Umicore as an investment). Anyway, you got me interested. Would be cool if you find the time to do a full write-up!

Cool insider purchase Any comments on Belgian gov taking 5% stake? (kills any possibility for M&A) + abrupt CEO exit?

Interesting name. Do you have a quick pitch on the stock?

I live in London. I'm a relatively new member / not very active... but happy to meet up with some board members. Not 100% sure, but can probably do one of those days (15-17th of Oct)

BNB is a weird stock. 50% owned by Belgian gov, 50% by other shareholders. IIRC Belgian gov gets a cut from the profit for "seigniorage". Shareholders have been complaining, suing for change, popping up at the AGM... but this is not run for the shareholders. Has been trading at some silly P/E & P/B multiple. for a while. Dividend yield is determined not by their earnings, but by the return on the "statutory portfolio". Shareholders have been willing to put up with this as long as the dividend was there. And now it's likely gone for the next x years. (I read about this stock in the past. Seems absurd that this exists as a publicly traded company where shareholders "should be happy with the nice dividend they get" and shut up)

Don't follow the company, but saw WRK pop up on twitter with the addition of a ROIC component to LT compensation https://twitter.com/thecashman22/status/1489270809403265032

This seems to fix it. I suppose I was going to some weird other url in the past. Feel silly for not figuring that one out myself

TIKR forces me to sign in again every time I close my browser. Is this by design? Anything I can do about it?