Apologies for the delay, but got plenty going on. Ok, how best to do this? Because we didn't discuss anything that isn't already public knowledge but I also promised not to openly yap about what was a private conversation. That said, I will tell you what I now believe or how my opinions may have changed. Bear in mind, it was only about 15mins conversation and much of it gets lost reiterating all the main news of ICI (year of acquisitions, recent report was good, LS etc).
Firstly, Kin was an absolute gentleman and was more relaxed and talkative than during past webinars. The haters can 100% bury the conspiracy theories, or 'he's running the business into the ground' or 'he doesn't communicate' etc etc yawn. Your time of talking s4!t is done, buried, 100% proven wrong in my mind. (Haters, do something useful with your energy)
1. I now believe the iCandy business is in a far better position that I had thought. I believe there is so much coming down the pipeline (and I don't know details) that when each of them start dropping it is going to be mega. Brilliant position to be in as LS is holding the business at profitable (and growing in its own right) and then quite a number of big initiatives will come to market. I believe we aren't talking about 4-5 big projects, its north of that.
So from an already simmering profitable base these will be rocket fuel to the fire.
As I say, I don't know details AND unfortunately I don't know timing either which is a personal frustration for me. (I have a personal need to ICI to lift sooner rather than later, but that's just my situation)
2. Might as well get this out of the way coz I know a lot of people will groan at this one (haha), but I believe crazydaves intuition about holding back projects for market conditions is correct. When will conditions be right? Don't know. As much as I hate to say it because he's been pretty arrogant on this, probably just follow Daves posts to keep in touch with that particular topic (and Dave you completely ignored my question about who your group of researchers are? You owe me now)
3. I do believe management are annoyed that the SP (MC) looks crap next to PLY. I'm not sure they have the people in the business to assist with what to do about this. Its the investor relations piece.
4. As you are all fully aware, I have believed for a long time that ICI needs to release investor presentations and also give more attention to SH updates so the market has a better understanding of what they are all about (What am I investing in?). My belief is confirmed but its actually worse than I thought. There appears to be no plan to release investor presentations such as PLYs (released 27/2/23). I'm not certain on this, but it felt like a new idea when being discussed.
I believe there was some hope that the report released this week would lift the SP. Again that just demonstrates a lack of understanding in investor relationships. Great financial result wasted with a very plain delivery. I did tell Kin that he is used to talking to gamers and gaming industry, not the investors, which he accepted and took on-board graciously.
As you can imagine my feedback focused heavily on this. I hope, but am not entirely convinced that this will be actioned. IMO this needs to be actioned asap and I will be speaking to someone else connected with ICI about this shortly.
That's about it. The business is in a seriously awesome position, timing of big projects remains a little uncertain and the messaging to market is completely screwed up IMO. That's my take anyway.
Expand
(20min delay)