Interesting to watch the fight for a board position unfold as Potentia who seems to hold about 20% of the company stock tries to get a board position. Potentia reckons that with their help they can get the stock price to $7. I’m not sure of the merits of their plan but definitely still feel that this stock is undervalued (while we wait for their full pivot to SaaS). They were massively beaten down by COVID, screen writers strikes and the uncertainty of this SaaS transition.

https://potentiacap.com/wp-content/uploads/2024/10/Potentia-Plan-for-Vista.pdf

Interestingly for DRO holders … Peter James has decided to drop out of this

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02865674-3A652897

Also note that Fidelity has been continuing to accumulate a position in this stock

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02869158-3A653543

What I’m not sure about if Potentia loses their bid is whether they will exit and take profit (according to their chart, they will have made a >50% increase in the mean time) to move onto the next PE opportunity. Interestingly, this trying to take on a listed company is a bit different to their PE model and looks more like an activist investor role.

DISC: HELD IRL and SM (and watching how this unfolds)