MelloMonday, 24th October 2022, 5pm - 9.30pm
Programme
5.00 pm Welcome and Mello Bliss update from David Stredder
5.10 pm Company presentation by Galliford Try
5.50 pm Alan Charlton & David Stredder discuss ‘Irrational Markets Create Bargains!’
6.10 pm Company presentation by Warpaint
6.50 pm Company presentation by Delta Application Services
7.05 pm Company presentation by Quixant
7.45 pm Karin Shulte presents Investor updates
8.00 pm Mello BASH
Company Presentation – Warpaint
Warpaint has been listed on AIM since 2016, and is a profitable, cash generative, dividend-paying business with no debt. Warpaint sells branded cosmetics under the lead brand names of W7 and Technic. W7 is sold in the UK primarily to major retailers and internationally to local distributors or retail chains. The Technic brand is sold in the UK and continental Europe with a significant focus on the gifting market, principally for high street retailers and supermarkets. In addition, Warpaint supplies own brand white label cosmetics produced for several major high street retailers. The Group also sells cosmetics using its other brand names of Man’stuff, Body Collection, Very Vegan, and Chit Chat, each targeting a different demographic.
Sam Bazini, CEO
On leaving school at 16, Sam started work in a cosmetics warehouse, supplementing his income by selling cosmetics directly to the public at numerous London street markets. Selling directly to the public gave him an invaluable insight into consumer needs and in 1981 at the age of 18, using £500 he had saved he set up his own business, buying and selling close-out and end of line cosmetics and fragrance. During the course of the next ten years, Sam and Eoin’s paths crossed on numerous occasions, working intermittently with each other on a joint venture basis until they formally went into business together in 1992. Together with Eoin Macleod, Sam developed the business which resulted in the formation of W7.
Neil Rodol, CFO
Neil joined the Group in August 2015, having previously been an adviser to the business for several years. He has overseen the introduction of new systems and procedures. He joined the board as Chief Financial Officer in November 2016. Over the last 17 years he has been involved in several corporate purchase and acquisitions. In 2006, he sold his publishing company to a quoted group and became the group licensing director; in 2014 he completed a management buyout. Neil trained as an account at BDO Stoy Hayward and holds an honours degree in Maths and Computer Science.
Irrational Markets Create Bargains! with Alan Charlton and David Stredder
I am a Full Time Professional Investor, having enjoyed a 30 year career working the Retail Industry, and been a Director of many well know High Street names. I have been fortunate to work directly for some of the greatest Retailers of the last generation, including Lord Kirkham, Sir Philip Green (interesting experience!!) and Sir Stuart Rose. Fortunate to have learned from some of the very best. I post occasionally on message boards as “Simso”…going right back to PaulyPiliots Pub and the old Motley Fool days! Current investment strategy is specifically focussed on stocks which benefit from the current environment.”
Company Presentation – Quixant plc
Quixant plc is a fast-growing, global technology business that designs and manufactures highly optimised computing solutions and monitors principally for the global gaming and broadcast industries. Quixant empowers its customers with specialist technology outsource solutions, enabling them to innovate where it matters most.
The Company is built on two brands driven by one vision – to deliver the best and most innovative customer solution in every market we operate in.
The Group’s Quixant division, designs, develops and engineers gaming computers and software solutions for the wager-based gaming and sports betting industries. Following the acquisition of the business in 2015, the Group’s Densitron division is a specialist in providing best-in-class control systems, control surfaces and custom displays to enhance interaction with equipment used in a range of sectors including Broadcast, Medical and Industrial applications.
The Group was founded in 2005 and is headquartered in Cambridge, with offices throughout Europe, North America and Asia.
Jon Jayal, CEO
Jon Jayal is the Chief Executive Officer at Quixant. Jon Jayal was one of the key members of the design team which developed Quixant’s first product, the QX-10. Jon left Quixant in 2006 to broaden his experience in the financial sector, both as an investment consultant at Mercer Limited and as account manager at BlackRock, Inc.
He re-joined Quixant in July 2012 as General Manager of Quixant plc and latterly Chief Operating Officer and is based at the Company’s UK headquarters in Cambridge. Jon’s deep knowledge of the technology that is the foundation of QXT’s business together with his wider financial and managerial experience means he is well positioned as part of the management team.
Jon is a Chartered Financial Analyst and has a first-class honours degree in Electronic Engineering from the University of Warwick.
Johan Oliver, CFO
Johan Olivier is the Chief Financial Officer at Quixant, having joined the Company in August 2021. Johan is a seasoned public company finance professional. Prior to joining Quixant, he operated as Group Finance Director at XP Power, the FTSE250 designer and manufacturer of power components, and was responsible for financial planning, reporting and treasury functions. Johan also served as XP Power’s Acting CFO while the company was seeking a permanent candidate. Earlier in his career, he held finance roles at Logica plc and Finastra after beginning his career at PwC.
Johan obtained a Bachelor’s Degree in Commerce and Accounting and a Post Graduate Degree in Accounting from the University of Stellenbosch, South Africa. Johan is a certified Chartered Accountant
Company Presentation – Delta Application Services
We would like to introduce you to Delta Application Services, an exciting start-up software company providing a portfolio of Apps to enable tech companies to manage their sales distribution channels.
SEIS Raise for Delta Application Services – £150k raise at a pre-money valuation of £500k
Business Summary
Delta Application Services has launched a portfolio of Apps to help companies manage their partner sales distribution channels globally. These indirect sales channels are increasingly becoming the preferred route for companies to grow their revenues whilst sensibly managing costs. The apps are sold via an annual subscription agreement and are hosted in the cloud. Sales are through the companies’ own direct sales force and through a network of partners. Customers are expected to come from across the globe with initial focus in the UK/Europe and the US.
Founder and CEO, John Miller, has spent the last 30 years developing successful channel management strategies for a range of top technology companies. He has used this experience to develop the apps which can be used by all tech companies to manage their channel strategies.
The fundraise
Delta is seeking to raise £150k to further develop its portfolio of channel sales applications and to invest in the sales and marketing team. SEIS advance assurance has been applied for and received. Timing: Target completion end November 2022
Multiple Sales Channels
Delta will use both a direct sales team and a range of partners to take Apps to market. The first order has already been received through one of their partners, EIMS and a number of other partners are being recruited into the Partner Manger Ecosystem. John has decades of experience developing channel sales strategies and is bringing this experience to develop the strategy for Delta.
Growing and large prospective market
The global IT market is forecast to more than double over the next decade. There are over 300k IT Vendors that sell solutions worldwide and the number of partners they engage with varies from a handful at the smaller companies to over 100,000 at the largest companies. Delta is focussing on the start-ups to mid sized vendors with t/o less than £1bn.
Trading record and Forecast
Delta is a new company but has already secured the first sales of its Partner Manager app and has a strong revenue pipeline. First year sales are forecast at £257k rising to £1.2m in the third year. High gross margins should mean the company breaks even part way through the second year before generating net profits of £240k in year 3.
John Miller – Founder and CEO
John has worked in IT and Channels for 35 years. He founded Delta Channel Services in 1995 and has led successfully consulting and training projects with the world’s largest IT companies including IBM, SAP, Oracle and Siemens delivered in the field in over 40 countries.
He has been a key note speaker at global IT industry channel and vendor events, writes frequent blogs and presents at live webinar events on channel development topics.
Dale Bagnell – Head of US Operations
Dale has also worked in the IT industry for 35 years for global IT brands such as Dell, SAP, HP Adobe and Sprint in channel executive roles.
His experience includes developing channel strategy, developing and managing Partner programs.
Dale has been leading Delta’s US consulting services for the last 8 years.
Any other information investors may be interested in reading
Company Presentation – Galliford Try plc (LON:GFRD)
Galliford Try is one of the UK’s leading construction groups, working to improve the UK’s built environment, delivering positive, lasting change for the communities we work in on behalf of our clients.
Our business operates mainly under the Galliford Try and Morrison Construction brands, focusing on areas where we have core and proven strengths, namely in Building, Highways and Environment. We see long-term growth and appropriate margins in these markets.
Our company is founded on our values of excellence, passion, integrity and collaboration, and our vision is to be a people-orientated, progressive business, driven by our values to deliver lasting change for our stakeholders and the communities we work in.
Andrew Duxbury – Finance Director
Andrew Duxbury was appointed Group Finance Director in March 2019. Andrew joined Galliford Try in March 2012 as Group Financial Controller and from 2016, held a number of operational finance roles, including Finance Director of Linden Homes. Andrew is a Fellow of the Institute of Chartered Accountants and, prior to joining Galliford Try, he worked for PwC.
The Mello BASH (Buy, Avoid, Sell & Hold)
Kevin Taylor Private Investor
Mark Simpson Private Investor
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