Vee Charting, page-21

Another point I was thinking about this week, is who might be accumulating?

This is a long bow to draw and not for right now, but here is a thought for the future.

The Miocevich family created this business, with Mark still carrying out the role of Managing Director and Brad as the Non-Executive Chairman. The family still own 50% of the shares too and are clearly in control of the business and doing a good job.

I am not sure if there is another generation of the family in the business, but there is a fair chance that something will need to change and there will be a transition in the next 5 years. Whether that also involves a sell down is yet to be seen, but given they took some money off the table in 2021, that could be a possibility.

Based on some research I did last week, I think they should be having a chat with Andrew Forrest and the team at Tattarang.
Whether you like Twiggy or not, his Tattarang entity continues to be cashed up and looking for investment opportunities here and overseas.
Tattarang has already taken a 15% stake in Austal, the leading ship builder in Aus, with a significant presence in Defence contracts in Aus and the US. Twiggy also has another marine business called SFM Marine in WA.
I think Twiggy would see the appeal of acquiring another marine business with strong ties to the defence industry, especially in advance of any AUKUS programs coming to WA!
Twiggy could also sell some gyros and Sharrow propellers to his rich billionaire mates while he is at it!!

Anyway, between Austal, Twiggy and even Gina, there are a few key players who might want to swallow up a chunk of Veem when the time for a transition comes, hopefully at a much higher price though!!