Forum Topics YOJ YOJ Yojee Ltd General Discussion
Longpar5
Added 3 years ago

I enjoyed the discussion with Ed Clarke and was interested in the question around his shareholding, or lack there-of. Am just piecing together the story - would appreciate anyone with deeper background filling me in. He is listed in the 2021 Annual report as having absolutely zero shareholding - as noted here in this forum. He said in reply that he has an investment vehicle, managed by a director and has “very strong ownership”. This is all very opaque and a turn off for me.

He also chose, in May 21, not to purchase his 13m in ‘in the money’ options that he’d held since the reverse takeover in 2016. I’ve only just started looking, but this seemed weird (maybe he has no cash?). Note these were the only interests he held in the company as per his initial directors interest notice in 2016 (albeit this mystery indirect ownership may have still been there).

There are no holders over 7.27% as at the 21 Annual report (UBS Nominees - maybe they are working for him). It’s hard to think that he holds more than 3% of the company, given at 2016 REEF investments were the only >5% holder (~11%) and they have roughly held this position and retain only now 3% given all the dilution. Unless he’s been accumulating in the background - but if that’s the case why not convert the options.

I liked the sound of the company and Ed presented well, but when you are required to believe the story - given the loss making early stage nature of the business - insider ownership and transparency are a big deal. I’m not an expert and realise ownership structures can be complicated, can anyone shed any more light?


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mikebrisy
Added 3 years ago

Refer to the ASIC Regualtory Guide 193 - Notification of directors' interests in securities—listed companies

"Section 205G obligation RG 193.1 Under s205G(1) of the Corporations Act, every director of an Australian listed public company must notify the relevant market operator (i.e. the operator of the market on which the company is listed) of: (a) the director’s relevant interests in securities of the company or a related body corporate; and (b) contracts: (i) to which the director is a party or under which the director is entitled to a benefit; and (ii) that confer a right to call for or deliver shares in, debentures of, or interests in a managed investment scheme made available by, the company or a related body corporate." 

Irrespective of the entity in which the shares are held, if he has a beneficial interest in shares, it needs to be disclosed. If it says he holds zero shares in the Annual Report (which it does, as you say), then I would assume he has zero shares. I'm not expert in these matters and happy to be corrected.

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Strawman
Added 3 years ago

We have a late starter with Yojee (ASX:YOJ) managing Director Ed Clarke joining us this Wednesday, 29th June, at 1pm AEST.

Details on Meetings page, and I'll send out an email reminder on Wednesday morning.

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Seymourbutts
Added 3 years ago

Excellent work securing the meeting so promptly Andrew.

Unfortunately I have a meeting at the same time, but will be sure to watch the recording! Will send through some questions prior.

Insider ownership is the first one that springs to mind... or lack of, especially considering Ed has been there for ~6 years. Interested to hear his take on it, I'm sure you will pose it to him in a tactful manner as always.

Cheers

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elpaso96
Added 3 years ago

Since the company I work for is slowly transitioning away from the existing contract, can confirm that the logistics service currently provided is for mainly eccomerce orders. Their systems are quite good but it takes a long time to fix all logistics operations. You would be surprised at how much excel and emails are used to do operations that should be done via the system autonomously. Their hub network model only works if the 3PL is willing to maintain a long-term relationship with Yojee. All of them use hub and spoke for distribution but the real value add Yojee can solve is to optimise the network when one of the hubs breaks down. Adjust distribution prices automatically and generate new networks.

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Rhett
Added 4 years ago

was the info bearish?

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Bear77
Added 4 years ago

That would be my guess @Rhett . Based on what the YOJ SP has done over the past year, which is all south east. If WTC were running their ruler over YOJ back then (and that is of course a big "IF") then perhaps they didn't like what they found. A potential takeover attempt could not be blocked by a single shareholder because the largest shareholder is Thorney Technologies (a.k.a. TIGA Trading - TIGA = Thorney Investment Group Australia) with 8.32%, i.e. not the 10%+ required for a blocking stake. I sold my YOJ some time in the second half of last year (IRL) and dumped the small YOJ position I had here on SM yesterday, so I no longer hold YOJ either virtually (here) or IRL. And I don't hold WTC either.

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http://www.redbubble.com/people/CaradocAr

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elpaso96
Added 4 years ago

I have got some insider knowledge into this company. Unfortunately I can't act on long/short, otherwise I would be breaking standard 2(A). 

CFA ethics guidelines standard 2(A) Material Non public disclosure

  • "Members and Candidates who possess material nonpublic information that could affect the value of an investment must not act or cause others to act on the information." 
    • I am getting to the point where 260 annonymous users follow me therefore, what I say or do could influence them to act on the information that could affect the value of the security. The ethical dilema is that since Yojee is a thinly traded stock average daily volume $90K from 50 trades, what I want to say may impact the trading volume. Don't want to run the risk especially me being a candidate who want to be an ethical investment analyst in the future :)   

 

4

Bear77
Added 4 years ago

So elpaso96, you must not act on the information, which would also possibly constitute insider trading, as you don't have to be an insider to be charged with insider trading, just acting on non-publicly-available info to make a profit is enough.  And you must not cause others to act.  However, you could: (A) Encourage the company to release this information publically, or (B) release this information publically yourself, without giving any analysis of the likely future impact of the info, or any recommendation, or guidance.  I.e. let others make up their own minds what the info means, and if they want to act on it.  My other comment would be that the number of followers you have is probably not material, as all 17,000+ members of the Strawman.com community have access to anything and everything that any and all of us post, and all of them can choose to act on that info or not to, regardless of who they follow.  

Naturally I would encourage people to NEVER act purely on the basis of what they read here, as none of us (or not very many of us at all) are licenced financial planners/advisers and even those who are - are not aware of other members' personal circumstances, goals, needs, etc., so treat everything here as just one source of info, try to verify that info independently yourself rather than take anything read here as gospel, and seek financial advice from a licenced professional where appropriate.

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elpaso96
Added 4 years ago

No comment Bear :) Although that in itself is a comment :D 

Yojee is not Wisetech or is it? I'll leave it with that.  

Awaiting my 2 downvotes. For the downvoters, atleast make 67 fake profiles to get to 69 downvotes :) Ruining it for me...

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Bear77
Added 4 years ago

OK, 69osaple, very cryptic, however Wisetech certainly do have some serious form for M&A, and it would probably be (another) good fit, and if it happened, neither company would likely make any announcement unless (a) it was a done deal, or (b) they were responding to press speculation, or a "please explain" from the ASX.  None of which has happened to date, to the best of my knowledge...  Of course, I could also be adding 2 + 1 and coming up with 5.  

[posted at 8:20pm Australian Central Time on 10-July-2021, for future reference]

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Bear77
Added 4 years ago

Oh, I forgot to ask, on a completely different subject, do you own any Yojee shares @elpaso96?  I do not [yet].  I think the company shows plenty of promise. [for a Nemo]

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elpaso96
Added 4 years ago

I don't own Yojee in IRL and Strawman. 

I do wish my username is changed to 69osaple :D That's gold haha 

Nemos are cool did you know the father becomes the mother :O It changes how I view Nemo 

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Bear77
Added 4 years ago

Thanks for the reminder Old Elpaso (we're having mexican for dinner tonight), I had forgotten that all clownfish are born male and have the ability to switch their sex, but will do so only to become the dominant female of a group, something that was conveniently left out of the "Finding Nemo" movie and its sequel.  Mind you, Nemo's Mum didn't have a large role in either movie, so perhaps didn't need much of a back story.  Makes me wonder about Nemo's own future sexual identity, could have gone either way...

Further Reading:  A Scientifically-Accurate 'Finding Nemo' Would Have Been Terrifying

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Bear77
Added 4 years ago

Update:  I ended up selling some WES @ $58.11/share today and buying 26,000 YOJ (Yojee) shares @ 19.5 cents each ($5K worth).  Based on future potential.  That was IRL.  I'm also planning to add them to my Strawman.com virtual portfolio this week if the close under 20c.

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