Updates

Anexo - Raises money to target VW emissions cases

July 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Since my last update, Anexo has appointed Berenberg, which has placed 6m new shares (5.5% of equity) at 125p to raise £7.5m alongside a sell down of 2.8m shares by directors at the same price, completing the job which former broker Arden had failed to do. While new cases of accidents have dropped significantly due to lower road traffic during the lockdown, its legal arm, Bond Turner, continues to work remotely and is fully operational, aided by online and telephone court hearings, which are allowing its caseloads to be settled remotely. Berenberg estimates Anexo’s current credit hire case backlog could generate £200m of cash inflows. The new money is earmarked to continue to hire legal staff ...

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Zotefoams - New contract worth possibly 10% to sales

Joules - +40% surge in online sales

Anexo - VW car emissions cheating could settle as early as Q4 and be worth "tens of millions" (August 2020)

Anexo - Profits up 63% (October 2019)

Anexo - Will significantly exceed market expectations (September 2019)

Anexo - Poised for very strong H2 19 (May 2019)

Anexo -'Trading ahead of expectations' (January 2019)

Anexo - Higher profile for credit hire firm (October 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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