This morning I watched the Annual General Meeting of System1 Group (SYS1) as I own a few shares in the company. This was broadcast on the Investor Meet Company platform and was certainly worth watching. The company issued a Q2 trading update on the 23 September which was effectively a major profit warning as it indicated full year results will be below forecasts.
I bought my first tranche of shares at 730p – they are now about 270p – ouch! A good job I only bought a few.
A shareholder (Maynard Paton?) present at the meeting expressed concerns about the executive management but the Chairman said the market changed fundamentally in August caused by the change to the Trump tariff regime. He still has 100% confidence in the executive team.
The directors did answer the questions from shareholders well and I was positively impressed by the responses. I will continue to hold for the moment but it could be some time before the share price recovers.
This was a good example of how useful an AGM can be.
Roger Lawson (Twitter: https://x.com/RogerWLawson )
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