8th March 2021, 6pm – 9.30pm

Dates for Upcoming events included in the Annual Pass:
Tuesday 9th March 2021 – The Woodford Debacle
Tuesday 16th March 2021 – Gold Part 2
Monday 22nd March 2021
Monday 29th March 2021
Monday 12th April 2021
Monday 26th April 2021
Monday 10th May 2021
Monday 24th May 2021

Programme

An interview with CockneyRebel @RebelHQ

Richard Crow aka Cockney Rebel @RebelHQ

After starting life as a milkman and ending up paralysed after a motorbike accident @ 19 years old, Richard started investing in 1982. Mainly punting penny shares and buying unit trusts all went quite well until the 1987 Black Monday Crash where he lost a third of his investments. Undeterred he returned to investing several years later and had good success in the tech boom, selling out early before most of the tech rout. Thereafter, he started investing and trading, mainly in small caps finding many multi-baggers and much greater success. He now runs a very restricted private chatroom 270 or so members where members discuss the stock news of the day and stock merits and opinions, together with chat and banter re life, gardening, photography and more.

Company Presentation – RBG Holdings plc

RBG Holdings plc is a professional services group, which includes one of the UK’s pioneering law firms, Rosenblatt Limited, which is a leader in dispute resolution.

RBL provides a range of legal services to its diversified client base, which includes companies, banks, entrepreneurs and individuals. Complementing this is the Firm’s increasingly international footprint, advising on complex cross-jurisdictional matters. RBL’s practice areas include dispute resolution, financial crime, corporate, banking and finance, insolvency and financial restructuring, construction and projects, employment, financial services, IP/technology/media, real estate, regulatory and tax resolution.

The Group also provides litigation finance in selected cases through a separate arm, LionFish Litigation Finance (UK) Ltd (“LionFish”). LionFish finances litigation matters being run by other solicitors in return for a significant return on the outcome of those cases. As such, the Group has two types of litigation investments – RBL’s own client matters, and litigation matters run by third-party solicitors. LionFish is positioned to be a unique, alternative provider to the traditional litigation funders.

The Group also owns Convex Capital Limited, a specialist sell-side corporate finance boutique, based in Manchester. Convex Capital is entirely focussed on helping companies, particularly owner-managed and entrepreneurial businesses, realise their value through sales to large corporates. Convex Capital identifies and proactively targets firms that it believes represent attractive acquisition opportunities.

Nicky Foulston took over the commercial management of Rosenblatt in September 2016. She had been a client of the Firm for nearly 30 years. Nicky’s background was the acquisition, in 1992, of the Brands Hatch Circuit Group and the subsequent stock market listing in 1996. Brands Hatch was acquired three years later by Interpublic, returning IPO investors a 6-7x return on their money.

Robert Parker has more than two decades of experience in scaling high-growth, multi-cultural, international companies in a variety of industries. These include business services, technology, digital media and telecoms. His recent roles include interim CFO at Tantalum Corp and CLA Limited, and permanent positions at Ubisense plc and Immedia Broadcasting plc. Robert has worked extensively with public funds, private equity, and venture capital investors to build businesses.

Company Presentation – Duke Royalty

Duke Royalty is the leading corporate royalty finance provider in the UK and Europe, a finance solution widely used in America. The Company’s management team consists of royalty finance pioneers and specialists with over 75 years of direct royalty investing experience.

Listed on the London Stock Exchange, Duke Royalty (AIM:DUKE) is a long-term, flexible capital partner to established and profitable SMEs in the UK, North America and continental Europe. Duke Royalty provides shareholders with a high yielding quarterly dividend.

This is achieved due to the robust, predictable and long-term cash flows delivered from its diverse portfolio of mature, profitable SMEs. It provides partners with a lump sum of capital in return for a percentage of revenue on a term of 30+ years. Royalty finance (or revenue-based financing) is akin to a ‘corporate mortgage’ and the model, first popularised in North America, is proven to withstand economic cycles and offers SMEs an alternative, flexible form of financing. Unlike other lending options, Duke’s royalty finance model empowers business owners to realise their long-term business goals without compromising owner control or adding debt re-financing risk to the business.

The pandemic has forced a significant number of SMEs to take on unsustainable levels of debt and with banks tightening their lending criteria, there is heightened demand for alternative forms of finance.

Neil Johnson is Duke Royalty’s Chief Executive Officer with responsibility for the overall strategic direction and performance of the company. Working closely with the other Board members and the Investment Committee, he leads all deal origination, due diligence and structuring.

Mr. Johnson has approximately 30 years of experience in investment banking, merchant banking, and research analysis in both the Canadian and UK capital markets. In 2012 he co-founded and became Chief Executive Officer of Difference Capital Financial, a Canadian publicly listed merchant bank. For the previous 19 years he worked for Canaccord Genuity, first in Canada and later at Canaccord London rising to the positions of Head of Corporate Finance (Europe), Global Head of Technology, and a member of the Global Executive Committee.

Hugo Evans is responsible for all of Duke Royalty’s finance and treasury operations and has oversight of Duke Royalty’s corporate governance and UK plc responsibilities.

Prior to joining Duke, Mr. Evans spent two years as the Group Finance Director of Kingswood Wealth Group, an AIM-Listed retail wealth management business. Before KWG, Hugo spent six years at boutique fund management firm Ocean Dial Asset Management, where he set up the operational, financial and compliance infrastructure of the business. Mr. Evans qualified as a Chartered Accountant with Grant Thornton.

Company Presentation – Franchise Brands plc

Franchise Brands is focused on building market-leading businesses primarily via a franchise model. The Group currently has a combined network of over 425 franchisees across five principal franchise brands. Our focus is on established brands which can benefit from our shared support services, specialist sector expertise, management experience and group resources.

The Group is organised into a B2B division comprised of Metro Rod, Metro Plumb, and Willow Pumps, and a B2C division that incorporates ChipsAway, Ovenclean and Barking Mad. This divisional organisation of our brands is designed to provide a greater focus and structure to support their strategic development.

Franchise Brands has a highly experienced Board and senior management team who are significant shareholders (57%).

The company’s market capitalisation has grown six-fold since AIM admission in August 2016 and is currently £95-100m.  Click here for further investor information.

Stephen co-founded Franchise Brands in 2008 and has led the development of the business, including the IPO and external growth. He is a Chartered Accountant by training and spent nearly ten years with 3i as Investment Director. He then joined Domino’s Pizza as Finance Director progressing to CEO, Executive Chairman and Non-executive Chairman before departing in 2019 after 21 years with the business to focus on Franchise Brands. During this time, he took Domino’s from private ownership to a market capitalisation of almost £1.5 billion.

Chris has substantial accounting and financial experience from his time in the profession and as a Finance Director of private and publicly quoted companies. Chris began his career at Deloitte LLP where he spent ten years within audit, corporate finance and transactional accounting services. He subsequently spent four years as Finance Director of AIM-quoted 7digital Group plc. Chris is a Fellow of the Institute of Chartered Accountants of England and Wales. He was appointed as Chief Financial Officer in July 2017.

Specialist Insights

Steve Clapham

Stephen Clapham of investment research and training consultancy Behind the Balance Sheet will be here again. Rather than do the usual accounting red flags and investing tips that he normally gives on Mello Mondays, Stephen Clapham will give a short overview of the lessons to learn from 2020 and how to use them to improve your performance in 2021. Rather than give individual stock tips, Steve will talk about some of the themes he think may work this year and next, and will give some examples of the stock characteristics of the likely winners of the next 18 months. He will also cover the dangers of picking up some of the losers of 2020 – the share prices may look lower but often the valuations are significantly higher.

Behind the Balance Sheet is an investment research consultancy which creates bespoke research for large institutional investors and produces training programmes for their analysts and portfolio managers. The firm was founded in 2012 by Steve Clapham, who has 30 years of experience analysing and investing in equities. He spent some 20 years as a rated sell-side equity analyst before becoming a partner of a multi billion hedge fund in London in 2005.

MelloBASH (Buy, Avoid, Sell, Hold)

Leon is a recently retired professional investor. Prior to his retirement he was founder and managing director of Equity Strategies, a boutique corporate finance firm. Leon started his career at EY where he qualified as a Chartered Accountant.

Leon has been investing since his late teens. In 1993 he opened his first PEP and has since achieved annualised returns of 18.42% (to Dec 2019).

Leon was previously a non-executive director of ShareSoc. Twitter: Leon Boros @Boros10  

Alan is 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. He has 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. 
Alan posts 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.

I trained as an accountant with a Top 5 firm, but that was so boring that I spent too much time in the 1990s being a disco bunny, and busting moves on the dancefloor, and chilling out with mates back at either my house or theirs, and having a lot of fun!

Then spent 8 years as FD for a ladieswear retail chain called “Pilot”, leaving on great terms in 2002 – having been a key player in growing the business 10 fold. If the truth be told, I partied pretty hard at the weekends too, so bank reconciliations on Monday mornings were more luck than judgement!! But they were always correct.

I got bored with that and decided to become a professional small caps investor in 2002. I made millions, but got too cocky, and lost the lot in 2008, due to excessive gearing. A miserable, wilderness period occurred from 2008-2012.

Since then, the sun has begun to shine again! I am now utterly briliant again, and immerse myself in small caps, and am a walking encyclopedia on the subject. I love writing a daily report for Stockopedia.com on most weekday mornings, constantly researching daily results & trading updates for small caps. Cheese!

Occupation

Analyst, Blogger, Company Director, Entrepreneur, Event Organiser, Private Investor

Investment Strategy

I search for fundamental value in smaller caps, especially companies which are overlooked, or where price has become irrationally low due to negative sentiment. I like businesses with decent cashflow, strong balance sheets, and like dividends. I tend to hold for 6 months to 10 years, but a typical investment is 2-3 years. Special situations, and situations where the market has not yet priced in an improving commercial outlook for a company particularly interest me, as do turnarounds. But above all, shares which are cheap!

Kevin is a full-time professional Investor and a part-time business consultant.  He began his City career in 1993, training as an actuary with a focus on defined benefit pension schemes. In 1997 he moved over to Investment Banking, joining a structured finance team that developed bespoke financial solutions, and provided debt finance, for large corporates. Kevin has always been a keen small cap investor looking after his family’s portfolios and trading on both the long and the short side of markets. He is one of the more sceptical panel members and likes to see proof that demonstrates management’s claims before investing in a management team.