MelloMonday, 15th July 2024, 5.00pm - 8.00pm


5:00pm Interview with Investor and Ex-Schroders Fund Manager, Iain Staples
5:30pm Company presentation from TEAM plc
6:00pm Company presentation from Velocity Composites
6:30pm Trading update from Time Finance
6:45pm Educational Presentation
7:00pm Company presentation from Coral Products
7:40pm BASH Panel featuring Iain Staples, Paul Scott (GMS) and Mark Simpson (CAU)

Interview with Iain Staples, Investor and Ex-Schroderd Fund Manager

Iain has 25 years’ experience in investment, the last twelve of which were at Schroders. There he was a UK mid and small cap manager, running more than £1bn of AuM which was consistently ranked first or second quartile over three and five years. His investment process involved searching for stocks whose business models have demonstrated an ability to consistently create value through having at least one of: a strong brand, successful innovation, a strong network of relationships with suppliers and customers, or a unique asset such as a portfolio of patents. These qualitative considerations were coupled with a quantitative analysis where relative and absolute valuation metrics were considered along with the quality of the accounting policies. In his spare time, his hobbies are hiking and reading fiction.

Company Presentation – Team plc

TEAM plc is a Jersey-headquartered wealth, asset management and complementary financial services group founded by Mark Clubb. TEAM is listed on the AIM market in March 2021. Largest shareholders include Strategic Ventures Pvt Europe (13.06%), followed by executive Chairman Mark Clubb (10.19%) John Beverly, Head of TEAM International (8.3%) Schroders (7.76%) and Marlborough (5.58%).

The company has expanded beyond its home market of Jersey to international markets through acquisitions. With a focus on servicing internationally mobile expatriates, the company’s strategy is to build local businesses around TEAM’s core skill of providing investment management services. Growth will be achieved through bolt on acquisitions and organically through team lifts/recruitment, with a particular focus on building out the advisory side of the business, as well as distribution.

Born in Preston, Lancashire, England in 1960, Mark has a BA (Hons) degree in Economics and Business Studies, CISI level 6 in Private Client Investment Advice and Management and ICA Advanced Certificate in Compliance. Mark began his career in 1981 at the London-based internationally respected firm of stockbrokers, Hoare Govett. Starting as a company analyst, Mark went on to build a 27-year career in investment banking. During this time, he would go on to hold various senior management roles working for UBS Philips and Drew and BZW (latterly Credit Suisse First Boston).

He has been involved in hundreds of corporate transactions, ranging from mergers and acquisitions to fundraisings including listings and IPOs. Many of these involved international companies both large and small, across various industries and with differing sizes and levels of complexity. He engaged with international stock markets but also the private equity and venture capital markets.

Mark has a deep understanding of corporate capital structures, the internal financial workings, management initiatives and controls of companies and the relationship between company performance and long-term share price behaviour. Having to interface with institutional investment managers over those years has also given Mark an extensive knowledge of various investment styles, strategies and disciplines. He has also operated in the extremes of stock market conditions, including the UK recessions of the early 80s, early 90s and of course the credit crisis of 2008/9. In 1997, Mark, together with six partners, founded London-based investment banking boutique, Altium Capital Partners.

Following a management buyout of Altium in 2008, Mark returned to Jersey and secured a position at private client stockbrokers, Collins Stewart, later acquired by Canaccord Genuity Inc. This marked the beginning of a second career in investment management. He has built a 10-year track record of consistent market competitive portfolio returns investing in global equities. Mark is extremely experienced and disciplined. He is extensively well-read, and the subjects of investing and investment practices are his passion.

Mark Clubb, Executive Chairman

Company presentation – Coral Products

Coral Products Plc, turnover in excess of £30m revenue, is a curated group of businesses, each a specialist plastic products design house and UK manufacturer, trusted by leading UK brands and companies who are household names to provide customised, cost efficient and sustainable solutions, primarily for the food packaging, personal care, household, transport and communication sectors.

Lance is a CEO with diverse experience across UK, USA, Europe and Far East, expert in delivering profitable growth through high impact transformational strategies, cultural change, business and revenue development, operational excellence and M&A.

Lance joins Coral Products Plc January 2024 from IG Design Group Plc a US$900m t/o FTSE AIM International Group where he served as Executive Board director from 2012, specifically as CEO IG Design Group International, $320m t/o UK, Europe, Asia & Australia, and most recently based in Atlanta also leading the turnaround of $600m t/o IG Design Group Americas.

IG Design Group is diverse group of companies operating across multiple regions, categories, seasons and brands whose products are found within four core categories: Celebrations, Stationery and Creative Play, Gifting and Not-for-resale paper bags.

Lance is an alumni Liverpool University – Physics and Electronics [1985], Warwick University – MBA [1995] and FT Non-Executive Masters Diploma [2019].

Lance Burn, CEO

Company Presentation – Velocity Composites

Velocity Composites plc is the leading supplier of advanced composite material kits to aerospace and other high-performance manufacturers. Velocity manufactures the kits for use in the production of carbon fibre composite parts for aerospace and other high-performance manufacturers, such as automotive OEMs, and pioneers of renewable energy applications.  The kits reduce costs and improve sustainability. This technology is in increasing demand as the aerospace manufacturing sector recovers from the pandemic.  Based in Burnley, Lancashire, Velocity Composites is a market- leading business, benefiting from the growing need to improve the sustainability of aviation. There has been a step-change in the use of carbon fibre in aircraft as manufacturers have to decrease aircraft weight and improve their efficiency to reduce emissions.

By using Velocity’s kits, produced using their proprietary technology, manufacturers can reduce waste and free up internal resources to focus on their core business. Velocity has a critical position in the aerospace supply chain, forming a bridge between major raw material manufacturers and blue-chip aerospace manufacturers, such as Boeing, Airbus and global partners such as GKN with whom it has long-standing relationships.  Velocity’s proven, innovative technology means reduced raw material waste, improved safety through better traceability and improved efficiency by digital management of the whole process.

Velocity has significant potential for expansion in the coming years, especially in the US, having recently opened a facility in Alabama. This follows the signing of a five-year Work Package Agreement with the Company’s US launch customer, a Tier 1 aerospace manufacturer.  The Contract is worth $20m per annum in revenue over at least the next five years starting from 1 January 2024, and represents Velocity’s first entry into the US, the largest aerospace manufacturing market in the world. The facility can be scaled to support multiple customers in the region. Velocity has live bids with large Tier 1 customers in both Europe and North America.  Velocity Composites has put into effect a clear strategy to capitalise on the significant growth in the use of composites within aerospace. Manufacturers need to outsource non-core processes and reduce costs to meet demand, and are now approaching Velocity for solutions, leading to a current qualified pipeline of opportunities of £200m ($250m) annually.

Jon Bridges, CEO

Jon co-founded Velocity Composites in October 2007. Jon has over 25 years’ experience within the advanced composites industry and is an experienced composite engineer. Previously, Jon was an Aerospace and Lean Solutions Specialist at Cytec Process Materials where he was responsible for direct sales support of UK and European based clients. From 2003 to 2005 Jon was a manufacturing engineer for Safran Nacelles where he was responsible for the manufacturing function for a growing, highly loaded aerospace unit supplying multiple assembly lines. Jon was re-appointed to the Board as an Executive Director in July 2019.

Andrew Beaden, Non Exec Chairman

Mr Beaden has been appointed to the Board as an independent Non-executive Director. He most recently served as Group Finance Director and a member of the board of Luxfer Holding plc, a producer of highly engineered advanced materials, from 2011 to 2017, having joined its predecessor British Aluminium in 1997. Luxfer (LXFR) is listed on the New York Stock Exchange. Mr Beaden is a co-founder and Chairman of IN4.0 Group Limited, a company encouraging growth through the use of industry 4.0 technologies.

Mr Beaden is a Chartered Accountant, holds a degree in economics and econometrics from Nottingham University and is a Fellow of the RSA (Royal Society for the Encouragement of the Arts, Manufactures and Commerce).

Andrew is a member of the Audit Committee and Nominations Committee.

Robert (Rob) Smith, CFO

Rob was appointed to the board of directors in June 2024. Rob is a chartered management accountant with significant experience in leadership roles at a number of AIM listed, technology companies, where he has been instrumental in leading growth strategies and improving operational efficiencies.

Most recently, he served as CFO for Biome Technologies plc, an AIM listed bioplastics company and prior to that as CFO and CEO at Filtronic plc, an AIM listed designer and manufacturer of advanced electronic filters, antennas and transceivers.

Update & Q&A – Time Finance

Time Finance plc provides finance to UK businesses helping them fund their businesses. It offers a multi-product range of funding solutions with a core focus on asset, loan and invoice finance. While focussed on being an ‘own-book’ lender and lending from its own balance sheet, it does retain the ability to broke-on deals where appropriate, enabling it to optimize business levels through market and economic cycles.

James Roberts, CFO

James Roberts, CFO, qualified as an accountant with PwC and has worked in financial services for well over 20 years. He has held leadership positions with several AIM listed companies and has significant experience in mergers and acquisitions within fast-paced, growing businesses. James joined Time Finance as its CFO in May 2017.


The Mello BASH (Buy, Avoid, Sell, Hold)

Mark Simpson, Private Investor

Iain Staples, Investor and Ex Schroders Fund Manager

Paul Scott, Stockopedia writer and Private Investor

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