Wed 19 Mar 2025 - Paul Scott's Small/Mid Cap Value Report

MrC's snapshot up at 07:55 Premium: SCT, GDWN, AMS, JDG, ESNT, FDM, FTC, GMS, SAG, SPA, TENG, GELN, PRES, POS, TRAK

Good morning from Paul, Dave, and Alun!

Here’s the usual 7am placeholder article/email, so you know where to find today’s article, and can add your comments on interesting RNS items from 7am.

Thank you to all the new premium subscribers, I’ll be catching up with the “warm welcomes” in today’s podcast later.

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Plexus Holdings (POS) - Paul holds

There’s big news out today from my largest personal holding, which obviously I’ll be focused on to start with this morning. Here’s my quick reaction to the Plexus fundraise announced today. I had a zoom with mgt last night, so they ran through the presentation & explained the upside case. I’m fully supportive of what they’re doing. Obviously I’m heavily biased, as it’s my largest personal position, but I genuinely think the news & focused business plan looks highly credible for a nanocap.

I just posted this (below) on advfn, so repeat it here - and of course am happy to hear anyone’s views, if you know the company - bulls and bears! -

Good morning! I can't tell you how relieved I am that funding sorted out. Had a zoom with mgt last night, and the relaunch of the rental side of the business is very exciting. Strong demand, they're turning away business. Products greatly improved during the lock-out period (now ended), giving POS competitive advantage.

Revised Cavendish note showing b/even next year FY 6/2026 is based on expanding rental fleet, with rapid payback, based on validated sales pipeline, not just hope!

They can't say anything about the £9m special project, but client confidentiality ends in July 2025, when they'll be shouting from the rooftops about what a stunning project this was, which enabled a large client to make massive cost savings.

I think this is a turning point, and I accept (sadly) some dilution, but far from a disaster.

The open offer is a decent size, as they want to look after the private investor following.

I think share price now underpinned at a lowly 6.5p anyway, so more upside than downside from here on, IMO. DYOR as usual obviously;.

Regards, Paul.

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End of free section.

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