IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
Hungry for success
One of the biggest AIM-to-Main success stories is expanding pizza delivery company Domino’s Pizza, which migrated in May 2008. Floating on AIM in 1999, it had expanded from 190 to 501 stores by the end of 2007, during which time profits grew from £1.8 million to £18.7 million.
‘AIM had served us very, very well,’ recalls Lee Ginsberg, chief financial officer. ‘AIM did not hold us back particularly. In fact, the highest rating we ever had was on AIM. One of the reasons we considered moving was our sheer size. We were in the top ten AIM companies in terms of market cap.’
Domino’s decided to transfer north ‘because of the growth we had ahead of us. A move to the FTSE 250 was quite attractive to us and AIM was a little out of fashion at that stage, so we felt it was an opportune time’.
There were some disadvantages, recalls Ginsberg: ‘We lost some funds, but we gained others. Our IHT funds had to exit and some of them were disappointed. But we attracted tracker funds that now own 6 to 8 per cent. And on the full list there is a much greater base of shareholders that you can attract, particularly in the US. We already had some US shareholders on AIM, but that base grew once we became a full list company. US funds preferred us on the Official List to AIM, because there is a stronger perception of corporate governance’.
Domino’s expansive shareholder base now includes the likes of Standard Life and Chicago-based fund William Blair. As Ginsberg explains, ‘You do get the long-only funds and therefore more stability in your shareholder base. And our liquidity has picked up by between 20 and 30 per cent in terms of average daily volumes on the full list.’
Extract from www.growthcompany.co.uk 6 May 2010
Perhaps naively, I continue to remain impressed by the Company's calm conservative and consistent approach to a) achieving its project milestones and b) communicating them only when necessary. This bodes well for the Company's future and its shareholders. As a long term holder I'm personally relaxed about the arguable current disconnect between the SP and milestone achievements. The time to materially capitalise will come and I believe , in real terms, will not be far off.
RFTS
Thanks all. Collective responses give a good guesstimate. WT's " pointy edge of the project"...tremendous Rfts
Not sure which suite of experts on this forum this may fall between but it's a question I raised before with received no reply (there may not be one or I may have missed it)... What period of consistent and reliable extraction by Hurricane would any major or other interested third party expect to see/ require for due diligence purposes in order to justify an investment in Hurricane to its own shareholders? ....or is it too much of a variable? Appreciate any thoughts. Cheers Rfts
Very informative Thanks Rfts
Thanks Boyzee. Sounds like a "spliter" function which saves time and cost.
In layman's terms, what is the key commercial significance of this technical observation? Thanks Rfts
"...Whilst further appraisal across the portfolio is required, the potential is staggering, and we believe that it will be of great interest to the majors as they seek to acquire new reserves.’ Even with the recent uptick, Hurricane’s rating is ‘far lower than any peers’ according to Cantor and the broker expects this discount to be unwound as project milestones are reached. ‘We believe that Hurricane offers the biggest and most exciting opportunity on the UKCS at the current time, and that the current price offers an exceptionally attractive entry point to investors.’..."
Good article summarising very positive current position just out..