Wey Virtual School

On Tuesday I covered Wey Education’s press release concerning the receipt of funding to create a virtual summer school.

Since then there have been some significant developments.

Detail of B2C offering

The following mini-site appears to have gone live on Tuesday:

https://interhigh.co.uk/wey-virtual-school/

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Wey Education and Regulation

(If you are not familiar with Wey Education then please see here)

In my previous article I touched on regulation of the online schools sector. In business it is almost always the case that regulation strengthens the positions of the largest players and increases barriers to entry. In some cases the reduction in customer choice can reduce the size of the market, but in others regulation can legitimise an industry. Accordingly it always looked likely that Wey Education would be a strong beneficiary of regulation.

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Wey Education and summer schools

Press release

(If you are not familiar with Wey Education then please see here)

On Friday afternoon Wey Education (WEY) issued a press release via Vox Markets saying that they had been granted government funding to create a “virtual summer school”. No figures are mentioned, but this appears to be wide in scope, covering ages 7 to 18 across four different offerings including both month-long summer programmes and throughout a full academic year.

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Petards – Update

Background

I’ve previously covered Petards, but I’ll give a full introduction here.

Petards describe themselves as a “developer of advanced security and surveillance systems”. Their three product areas are Rail (CCTV and other sensors), Traffic (ANPR systems) and Defence. They first came to my attention at Mello Chiswick 2018 where the presentation by Paul Negus (Group Business Development Director) went down particularly well with attendees.

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FireAngel (FA.) – On the turn?

Whether consciously or otherwise, most people will be familiar with the three act structure which is commonly employed in everything from classical plays to modern romantic comedies.

Given that investment turnarounds can manifest themselves in very sudden and profitable price movements it is therefore understandable that investors have been looking for any sign that the unusually long second act in the drama that is FireAngel might finally be over.

For close watchers, almost any kind of punctuation is now seized upon as a sign that Act II’s “rising action” (Wikipedia: “[which] typically depicts the protagonist’s attempt to resolve the problem initiated by the first turning point, only to find themselves in ever worsening situations.”) has come to an end. Even the changing of the year was enough to inspire new hope amongst some investors, triggering a rise of 50% on no news, before Monday’s further profits warning led some to dismiss the recovery as a fairy tale. Still, perhaps today’s announcement of further management change is the sign investors have been looking for?

On AIM the closest equivalent to the curtain coming down is suspension, and while plays conventionally have a neat conclusion to signal it’s time to leave the theatre, on AIM punters have a tendency to sit there bemused hoping for one final act. With FireAngel it is very difficult to see how they can get themselves out of the current mess, supporting my view that some kind of deus/dea ex machina is imminent in the form of a rescue fundraising or takeover bid.

FireAngel’s major success to-date has been to turn disappointment into an art form, and the beauty of art is that interpretation is in the eye of the beholder. Even if this story ends in tragedy for recent and current shareholders, I am optimistic it can ultimately prove a success for staff and other stakeholders.