Lamwyk Journal

LAMWYK JOURNAL

JULY 2020 JOURNAL July 2020

INTRODUCTION CONTENTS From crisis comes innovation: 4 Father soldiers on to complete 700 mile barefoot trek across Britain 6 Welcome to our July Lamwyk Journal, which Harry and I hope you will find informative, educational and very importantly engaging. Why Trade Marks Matter 8

There is a recurring observation that those in the twilight of their lives reflect on TikTok, the Social Media Panopticon? 10 their past successes and failures and often ask “did I make a difference?”. No What do we know about Coronaviruses and how do they affect us? 12 longer due to COVID will we be chastising ourselves for spending too long in the office, although we may amend that to an updated version of spending Micro mobility will be an essential part of social distancing 15 too long on work. So, the reason for this thread of comments is that today one man is making a herculean effort in a demonstration of love for a child and Navigating the changing landscape of resource efficiency investing 18 determination against seemingly insurmountable odds. Did you know there are only 3 types of value? 20 Chris Bannigan is in the midst of walking from Land’s End to Edinburgh carrying Wolverhampton on Screen 23 a rucksack weighing 25 lbs and just to make it really, really hard, as if that wasn’t hard enough, he is doing it barefoot. This is not a misprint he is barefoot. Marketing Emerging from Technology 24 This epic walk has already passed 10 Downing Street, where he dropped off a petition to focus attention on funding incurable childhood diseases. Chris’s barefoot journey is to raise the necessary funding for a research project to find a cure for CdLS, which is currently incurable, and which his daughter Hasti is having to cope with. Please do read his article inside, please consider donating and we wish him good luck too. The Just Giving page is under the name “barefootacrossbritain”

We hope you enjoy the Lamwyk Journal.

Edward Goodchild Publisher & Co-Founder

[email protected] 07917 823 333

Cover image kindly presented by Young Masters Art Prize: Andy Burgess, Tropical House, 2019

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From crisis comes innovation: New ways of financing Remote working is here to stay, and thanks to the Why the pandemic could lead technology startups that have helped improve Financing a business in the wake of a crisis and broadband/wi-fi, virtual meeting applications, to an explosion in technology facing a looming global recession can become cheaper laptops, and smartphone capabilities, startups and investment a daunting subject as conserving cash and employees can continue to work efficiently in opportunities minimizing risk becomes the priority. For the a crisis. The innovation in this sector is already majority of businesses, the government’s CBILS was exploding, and I for one am fascinated to see www.fieldhouseassociates.com Cordelia Meacher a no-brainer and an effective way to extend their which companies emerge in the long term to 07961 311 080 Founder and Managing Director runway in the immediate term. However, a crisis support the new remote working norm. FieldHouse Associates reminds us all just how important cash management is for a business, and financial technology has risen Health and medtech to offer support during the pandemic. Healthtech, like the technology that supports Understanding your cash is key, and platforms remote working, has boomed during lockdown. As the global crisis continues, it would be easy to When Covid-19 hit, it felt like we had just about such as Funding Options, which offers small Companies such as Babylon, the online doctor panic. We’re heading towards a global recession, stitched the final wounds from the 2008 financial businesses the ability to compare more traditional appointment app, has seen a huge uptick and, the EU this week agreed on a 750bn package of crash. What we have also seen in the years since loans in order to scale from a bedroom startup to like remote working, telehealth has seen a rapid loans and grants - the largest joint borrowing in then is the blossoming of innovation that started successful scaleup, are at the forefront of increased change in societal attitudes toward it. Companies the bloc’s history - and many in the UK can’t seem in the depths of that recession, in the shape of demand. The landscape for financing can be such as SkyCell are revolutionising the way we to accept that facemasks will be part of our ‘new companies like Groupon and Airbnb who were overwhelming, and Funding Options is just one transport drugs with smart cold storage containers, normal’. While each headline you read might able to pivot quickly and meet new customer example of how technology can help simplify it. and Harwell Campus in Oxfordshire is working to push us a step closer to panic, we can be sure that demands. help produce treatments and vaccines. Being able one thing remains a constant even through a crisis: Fluidly, a cashflow forecasting technology to disrupt the way a sector has operated for years innovation. Pivoting company, revealed in a recent survey that nine is what startups do, fundamentally changing that out of ten accountants now see cashflow services sector for the better. All industries have been impacted by the current We human beings are a resilient bunch, and this as a priority and will consider adding it to their pandemic, and with business continuity being is reflected in the businesses we build. The word business offering. The technology startups are Crisis breeds innovation. If history has taught us the number one priority, all executives must ‘pivot’ has been a standout word throughout the identifying the shift in customer demands and anything, it is that change is often born out of weigh cutting costs, driving productivity, and pandemic, and understandably so - as a crisis supporting this change. necessity, and that without upheaval or seismic implementing safety measures against supporting brings new demands, we must adapt to survive. shifts, industry and individuals resist change. The innovation-led growth. However, in times of crisis, Working from home Covid-19 pandemic and lockdown have proven technology startups are better positioned to adapt There are numerous examples of companies that there are many things that need to change as their core business to meet shifting customer that have pivoted quickly to accommodate the Recent figures from the Office for National we enter the ‘new normal’. Technology startups needs, find new financial support, and generally initial impact from the pandemic, one being Statistics (ONS) showed that homeworking has will be leading the charge in providing solutions innovate quickly in order to meet the new Transcend Packaging, a manufacturer of become a way of life for almost half of British to meet new demands and overcoming new customer demands in the ‘new normal’. sustainable packaging products and producers workers, and it has been the technology startups - challenges, and investors will need to keep a keen of McDonald’s paper straws. The company like Zoom - that have made the transition possible. eye on early-stage startups that are changing the The UK government has reacted brilliantly to announced that it would produce a million face Zoom doesn’t disclose user numbers, but Bernstein way we work, live, and play. ensure that the support for startups has been there shields a week for the NHS in Wales to help meet estimated that its mobile app had 173 million throughout the pandemic. While we might debate demand. Technology startups are best placed to monthly active users as of May 27, up from 14 Cordelia Meacher is Founder and Managing about some of the intricacies of the numerous pivot quickly in order to meet changing demand, million on March 4. For us at FieldHouse, as Director at FieldHouse Associates, the leading schemes, the top line is that furlough, the Future and in the case of Transcend Packaging, it has with the technology startups we work with, the communications agency for high growth Fund, and the Bounce Back Loan Scheme (BBLS) done so in a mutually beneficial way. transition proved fairly seamless, as our ability to businesses, their investors, and the tech ecosystem. will ensure that the innovation taking place now be flexible and pivot quickly allowed us to adapt will not be for nothing. to this sudden change.

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Father soldiers on to complete 700 mile barefoot trek across Britain Chris Brannigan To donate, please visit: www.justgiving.com/fundraising/BarefootAcrossBritain In Hasti’s case, her parents were aware there was They are also urging people to sign a petition, something wrong as soon as she was born, but which so far has accrued 12,000 signatures she didn’t receive a diagnosis until 2018. in just three days, asking the government to review its National Framework for Rare Disease, They still have no idea how the condition will encouraging them to invest in research, earlier fully impact her until she gets older, and without diagnosis and cutting edge treatments to give a treatment, they now live in fear worrying about people who are affected hope. Chris Brannigan is partaking in the gruelling to Edinburgh barefoot, to raise the money needed how the potentially life-limiting condition will challenge to give his daughter the future she to fund pioneering research into her condition. impact their happy-go-lucky daughter’s future. With the future for Hasti is uncertain unless a deserves Dedicated dad Chris, who has previously toured Hengameh, Hasti’s mum, says: “It was so hard treatment is found, Chris knows it’s a race against Afghanistan, is currently one third of the way knowing something was wrong, but not receiving time to acquire the funding they need, adding: Like any little girl, eight-year-old Hasti dreams through the gruelling trek, surpassing 250 miles of a diagnosis for so long - when we found out there “The support we’ve received so far has been about what she wants to be when she grows up his journey and raising a staggering £130,000 of was no treatment our hearts broke. We just want incredible, but we know can’t do it on our own - - and more than anything she wants to become a his initial £400,000 goal in just two weeks. Hasti to be able to have the opportunities all other every penny is vital to achieving our goal to help dancer and chef. It hasn’t been easy for the soldier, who is battling children have.” Hasti, and other children like her. 26 miles a day on average, and at one point However, tragically her family face a race against Chris was even forced to walk with the help of Her parents Chris and Hengameh have set “It’s what any parent would do to ensure the best time to fight for Hasti’s future, as she suffers a rare, crutches. up their own charity, Hope For Hasti, and on for their child, and we won’t stop fighting for a debilitating genetic condition which, by the time Monday 6th July, Army Major Chris departed from better future for all those affected.” she reaches puberty, could dramatically restrict However, despite injuries and pain caused, Land’s End. her quality of life and leave her permanently the support he’s received along the way by The family aim to raise £400,000 initially, but their needing around-the-clock care. wellwishers has been incredible and people have He says: “This is both the best and worst thing I have final goal is £2.5million to provide treatment and come out in droves to cheer him on, offering meals ever done. Nothing could have prepared me for hope for Hasti and others living with life-limiting Even more devastating, the condition - known as and medical advice for his injured feet. how hard a challenge this would be, both mentally genetic diseases, 95% of which currently have no Cornelia de Lange Syndrome (CdLS) - currently and physically but Hasti is my life, my world - every treatment at all. has no treatment or cure, leaving her parents He says: “When the pain and exhaustion gets painful step barefoot and every donation, no matter Chris, 40, and Hengameh Brannigan, 41, feeling too much and I want to give up, I just remember how small, hopefully means we are a step closer to helpless at the agonising thought they couldn’t why I’m doing this - to give my little girl the future funding research into treatment.” help give their little girl the future she deserves. she deserves. That thought, and the kindness of The lack of treatment is the reason why her generous strangers who’ve donated or cheered army major dad Chris has given himself the epic me on, keeps me going.” challenge of walking 700 miles from Land’s End

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their knowledge of legal practice and precedent; business. This ownership and sense of joint endeavour of conventions, international arrangements, and mean everyone at TMOA is dedicated to delivering treaties; of holding company structures and corporate the best possible advice and service to our clients. governance; and of TMOA’s unique partnership Together we develop new ways of working that better with the best legal representation in every territory, serve our clients, provide a better work/life balance worldwide. and opportunities for our colleagues, and build trusted Why Trade Marks Matter partnerships with our associates across the globe. Ken Sewell [email protected] Providing solutions that protect and enhance the value Head of Business Development 0203 102 9003 of Trade Marks and brands is the Trade Mark Owners TMOA’s Managing Director Paul Hayman said: “We Trade Mark Owners Association Association exclusive focus. This focus enables TMOA believe that now, more than ever, our clients and to address the needs of clients and owners who have colleagues want a partner they can trust to provide the most to gain from our insight and service. Those excellent service and, as important, who they can trust Originating in 1886, Trade Mark Owners Association What would happen if your business was undone by whose value is highly dependent on their intangible to always be at their side, helping them to fulfil their (TMOA) has a proud history. Leading the expansion an unexpected event, like Covid-19? Would you lose assets. For example: potential. TMOA will be their loyal ally, protecting of global Trade Mark protection as one of the all your ideas and brands? TMOA has developed their interests, especially through the hardest of times. world’s first Trade-Mark Attorneys, TMOA went on solutions that will give owners and entrepreneurs a Business with high intangible value Healthcare, IT, We draw on our proud heritage as we build a new to represent global companies, including ICI, Heinz, second chance, insulating their IP from trading risk. Branded Consumer. enterprise for the future: one that will address the Cadbury, and Nestle. We have protected clients’ challenges and opportunities of the world we live in interests through both World Wars, through both the What if your business depended on revenue from a Multi-National Enterprises where a General Counsel, today.” Great Depression and the 2008 Great Recession. The brand your clients loved, but where that brand was with limited resources, oversees a global IP portfolio global business environment’s present state heightens not sufficiently well protected, or its ownership was and needs to manage value, mitigate risk, at low cost Contact TMOA Head of Business Development, Ken the need for the trusted expertise, dedication, and the unclear? What would you do you if you lost the right with no fuss. Sewell on +44 (0) 203 102 9003 or +44 (0) 77 experience of TMOA. to use the brand? Could you cope? 8916 3400 or email [email protected]. Everyone Investor-backed businesses where the Directors and at TMOA would be delighted to help you protect, In a world where global commerce is the norm, and Do you have a great product or service that you want Investors need to protect, enhance, and realise the enhance, and maximize your company’s value. multi-national brands compete for market share, to take to new markets? Or a company identity that value in companies where maximum value depends businesses need a trusted global partner who can has benefited from a significant investment? How on high-quality IP. help protect and enhance the value of their interests. would your plans change if someone else owned the More than ever, in a world racked by risk and right to use your name or brand in your target market? Law Firms where Partners and Practice Leaders want uncertainty, business leaders, owners, and investors How would this affect your plans and the value of to grow sales, improve service, strengthen client need to make sure their profits are secure, and every your business? relationships, but not add cost or risk asset is delivering the best return. TMOA specialises in addressing these issues, and In May 2020, Trade Mark Owners Association was For example, if you run a Healthcare business, only many others that relate to protecting and enhancing relaunched following an investor-led management 20% of its value comes from its physical assets: 80% the value of IP assets, in every country where buy-out. The firm is truly unique: TMOA’s highly is in the value of your intellectual property: your registration and infringement are possible, from experience professionals now own and lead the brands, patents, and the value of your ideas. Business Afghanistan to Zimbabwe. spends significant sums protecting their physical assets; auditors and Finance Departments scrupulously To ensure the value of our clients’ Trade Marks monitor and assure the value of fixed assets and and brands is protected and enhanced TMOA’s working capital, but is this helping the Directors build experienced team of specialist Trade Mark or protect value? Attorneys and professionals make maximum use of

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Secretary of State, Mike Pompeo, has said that Like all social media platforms, new users to TikTok this app may soon be banned in North America. start off as a blank canvas and as they consume A class action lawsuit in the US has already data, the algorithm learns their preferences, and been launched claiming that the app comes pre- then only recommends videos it thinks they’ll like. installed with “Chinese surveillance software” that TikTok’s algorithm has previously been praised violates privacy, data and consumer protection for its accuracy in determining what its users want laws. The lawsuit states that, “TikTok clandestinely to see. We promoted its use when we saw how has vacuumed up and transferred to servers in quickly it was scaling, aging up demographically TikTok, the Social Media China vast quantities of private and personally- and being used by businesses. This, coupled with Panopticon? identifiable user data that can be employed us being one of the first marketing firms to receive Johnny Pawlik [email protected] to identify, profile, and track the location and access to the PPC capabilities of TikTok, meant www.mantrahq.com activities of users in the United States now and in we could see how powerful the platform is by Founder and Managing Director the future”. comparison to its competitors. As more information Mantra Media has been exposed about the engineering of the This isn’t the first time that a shiny new app has platform, it would be unethical for us to promote scaled quickly with hopes of breaking the social it any further. We know from previous campaigns media monopoly, only to then be branded as a that sharp creative with influential language and Unless you’ve been living under a rock the past the guard atop the central observation tower tool for covert intelligence gathering. In March fine-tuned algorithms can shape a person or year, you’ve most likely read about the headline sees all and likewise anyone (allegedly the 2018, I wrote a LinkedIn article about VERO, community’s perspective. Given that evidence making social media platform, TikTok, with over Chinese Government) that has access to the very with its beautiful UX, concentration on creative demonstrates that TikTok scrubbed pro-Democracy 750 million downloads globally and international conveniently coded backdoor to TikTok can see endeavours, and a push for more meaningful content from its platform during the Hong Kong legislators using the platform as a soft power virtually everything you do on your phone. conversation rather than virality; it looked like the protests in 2019, well, it’s just not cricket. tennis ball, it would be hard to miss. SM platform we needed to surpass Facebook. What does TikTok actually know about you? Well Alas, ties with certain unscrupulous members of TikTok showed a lot of promise and could have TikTok, formerly known as Musical.ly was if you or your children have downloaded the app, the Russian oligarchy, some questionable activities been another powerful tool within the marketing acquired by a seven-year-old company based in from what coding engineers have found so far, we in Lebanon and eyebrows raised around the arsenal of many brands but the privacy costs are Beijing called ByteDance in November 2017 for know the following data has been stored: users’ treatment of migrant workers all proved to be a too high. Do you think TikTok will also go the way around $900 million. At the time of acquisition, IP addresses, geolocation-related data (it actually little more than the Western consumer was willing of VERO? Judging from the atmosphere among Musical.ly had 60 million users in the United pings your GPS every 30 seconds), unique to swallow and ignited a mass emigration away political actors, is the writing on the wall? States and Europe. Since then TikTok has scaled device identifiers, browsing and search history, from the platform. faster in user acquisition than any other social and some previously deleted data, contacts, text media platform to date and has quickly become a messages, images, videos, voice memos, drafts, powerful communication tool for targeted brand notes, information held in other apps, 3rd party visibility, tweens getting hooked on endorphins data and cookies. A group of talented coders (in views and engagement) and political activists. and data scientists around the world have reverse From Boris Johnson fans going viral and young engineered the app to understand how it functions Labour activists making videos with MPs in and stated that TikTok is “a data collection service Parliament, to the daughter of Michael Gove that is thinly-veiled as a social network. TikTok is dancing at home for views and every celebrity essentially malware that is targeting children. Don’t you can name, the appeal is obvious, either use TikTok. Don’t let your friends and family use it.” adoracion or an insight into the homes and lives of others. According to national sentiment scores, Due to the dodgy data gathering (is GDPR still a MPs are viewed more favourably by voters the thing?), and the current international tensions and more active they are on social media, so it’s no growing sanctions against China, the app has wonder that everyone is getting involved. The now been banned in India, which accounts for problem is that TikTok is appearing more like big 30.3% of all global users and the US Department brother, and the user willingly invites the view of of Defense has advised the military to ban the the panopticon into their homes and personal app from government-issued devices. At the data. Unfortunately, the similarities between same time, TikTok says it is excluding its use in Jeremy Bentham’s continuous surveillance Hong Kong due to the new, well, let’s call it what and TikTok are growing. In the Panopticon, it is, communist dictatorship and the American 10 www.lamwyk.com Reach and Range 11 JOURNAL July 2020

What do we know about Coronaviruses and how do they How is Covid transmitted? affect us? Derek Kinchington PhD, FRCPath Sars-cov-2 has recently evolved to spread easily via horizontal transmission. The wet markets, high blood pressure, high cholesterol, diabetes, common in South East Asia, are thought to be the and heart disease are at a higher risk for severe origin of covid-19. Trillions of virus particles are complications from a virus that was originally released each day and a chance mutation giving thought just to infect the lungs. A small number some virus particles the ability to transmit very (100 plus) of children in the UK with covid-19 easily from person to person is enough to start a have developed a generalised inflammation of pandemic. Epidemics grow exponentially unless arteries throughout the body. The inflammation There are hundreds of coronaviruses, most of immunodeficiency virus). HIV, untreated, transmission rates (reproduction rates) are slowed. tends to affect the coronary arteries, which which circulate among mammals (pigs, camels, gradually destroys the immune cells but if supply blood to the heart muscle. The condition bats, cats, etc.). Those that jump to humans (spill- patients adhere rigidly to their drug regimen The high reproduction rate of sars cov-2 is caused is successfully treated with high doses of over event or zoonosis) cause upper respiratory a normal life style can follow. There is still no because its viral spikes (S) binds to human cell immunoglobulin (IVIG) and corticosteroids. tract disease. Seven human coronaviruses cure on the horizon for AIDS. surfaces easily which then allows it to ‘inject’ have circulated in the UK for decades generally its RNA into the host cell very efficiently. The How do we treat virus infections? occurring in the winter and causing mostly mild Three new coronaviruses have recently infected host intracellular enzymes (proteins) complete symptoms which are typical of the common humans: the process of viral maturation and millions of Treating serious virus infections has two cold. These coronaviruses cause about 15% of • The severe acute respiratory virus (sars-cov-1) was progeny viruses are produced and released approaches: antiviral drugs and vaccines. At cases, while about 50% of colds are caused the cause of SARS (2003) in South East Asia into the host’s lungs and trachea. The human the moment two drugs are being used to treat by rhinoviruses; the rest by respiratory syncytial • The Middle East respiratory virus (mers-cov) immune system has no innate memory of this new Covid-19; Remdesivir (originally developed to viruses, parainfluenza viruses, adenoviruses was the cause of MERS (2012 infection so a wide spectrum of disease has been treat Ebola infections), is a drug which slows and some infections are caused by, as yet, • Sars-cov-2 is the cause of COVID-19 (2019). observed. These range from infections without the replication of viral RNA in the host cell unidentified viruses. The nomenclature follows an internationally serious symptoms (mostly in the under sixties) to and shortens hospitalisation by about 4 days, agreed system so that, for example, rubeola a huge mortality in the elderly who have serious although there is no evidence it reduces mortality. A spill-over event into an immunologically naive virus causes MEASLES underlying health problems. Dexamethasone, an anti-inflammatory steroid, human population may result in a serious disease reduces mortality by about 25% in the patients because immune cells have not seen the virus before The WHO estimated that the total number of The current thinking is that Covid-19, unlike other who have serious underlying health problems. and therefore antibodies to the virus are absent. SARS infections was 8096 and the number of respiratory diseases has a pronounced effect on A recent clinical study has shown that the use deaths was 774 (9.6%) and for MERS the total the vascular system (veins and arteries). SARS- of statins and ACE inhibitors resulted in higher Is the Covid-19 pandemic unique? number of infections was 2494 with 858 deaths CoV-2 is thought to bind via its spike (S) protein rates of survival following covid -19 infections. (34.4%). The low number of total cases in the to ACE2 receptors (angiotensin converting These drugs are already used by many millions of No, there were two critical pandemics in the 2003 and 2012 outbreaks occurred because enzyme 2). These receptors are exposed on the people for controlling cardiovascular disease. twentieth century: humans were primarily infected by animals surface of cells that line the respiratory tract in • The first was the 1918 influenza virus directly and that any subsequent person to person the nose and throat, the air sacs in the lung and Although vaccines for respiratory viruses are pandemic. When influenza viruses originating transmission (horizontal transmission) was very the surrounding blood vessels. Coughing causes difficult to develop there is some hope that the from birds or pigs recombine with existing low. The low horizontal transmission rates allowed the breakdown of some blood vessels creating a novel corona spike attachment protein (S) on the strains in host cells, then a more virulent strain the SARS and MERS outbreaks to be easily local immune response and inflammation of the surface of the virus may present a realistic target. may emerge. controlled by using public health measures, such vascular endothelium (thin layer of cells lining Stopping a virus from entering the cell in the first • The second pandemic was AIDS (acquired as wearing surgical masks, washing hands well the vessels). Blood vessel damage may explain place is ideal as replication is then impossible. immunodeficiency syndrome), first reported and isolating patients. However, morbidity rates why people with pre-existing conditions like in 1981, and caused by HIV (the human were comparatively high.

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Micro mobility will be an essential part of social distancing Ori Dadoosh Green Ride is represented by Bard London It is estimated that there are over 150 laboratories international travel, climate change and increased Founder www.bard-london.com world-wide designing vaccines. The main environmental degradation it is now clear that Green Ride [email protected] technologies are: infectious diseases are on the increase. 1. Inactivated vaccines that are made using ‘wild type’ viruses which have been grown The Way Forward Covid has changed the way we travel for ever in a culture medium and then inactivated by heat or chemicals. Viral proteins such as the The genetic sequencing of DNA and RNA is now The global pandemic has introduced a new attachment spikes (S) can be separated from so routine it is possible to isolate many thousands normal for millions of people. We now know what the mix and used as the immune stimulant. of viruses from mammals and birds and study their Examples of inactivated vaccines are hepatitis genomes. Thus new pathogenic viruses can be working from home actually means, we ‘Zoom’, A and influenza. predicted before they actually cause an epidemic. we socially distance and as the world starts to 2. Live attenuated vaccines are ‘weakened’ The present pandemic has shown the UK to be accept the reality of Covid-19 we will also to start viruses produced by growing the virus in very slow in developing diagnostic tests and to use the term ‘micro mobility.’ culture for a long time. The vaccine still causes use them in sufficient numbers. This is something a mild ‘disease’ but produces a strong and I find difficult to understand given the first class In May the UK Government announced its long-lasting immune response in the recipient. record we have in the UK for medical research intention to invest £2 billion in green travel options, Examples are chickenpox, polio, measles, and the strength of our biomedical industries. which will include electric scooters. This led, at mumps and rubella (MMR) vaccines. the start of July, to the residents of Middlesbrough 3. The Jenner Centre at the University of We need to be more responsive and to reduce becoming the first in the UK to legally ride electric Oxford are using benign live adenoviral the time to develop candidate vaccines and scooters on the open road. (common cold) vectors and recombinant drugs from one or two years, to a few months. DNA technology to express the S proteins in Diagnostic tests should follow a similar time scale. Whilst the rise in internet-based gin tasting clubs humans to generate an immune response. The I am confident that progress in medical science may have been necessary to get everyone results of the clinical trials are expected soon. will allow this to happen. Many of our traditional through lockdown as the business world reopens manufacturing cities, such as Wolverhampton, and commuters head back into town and cities, How wrong can you be? have a fine record of industrial expertise which there will be other changes we need to get used could be drawn on to set up new biomedical to. One of these will be travel. Authorities around In the late seventies smallpox had been industries. the world are trying to avoid an increase in eradicated and there were safe vaccines for car use as workers try to socially distance and measles, polio and other serious childhood Dr. Kinchington studied smallpox/human monkey therefore avoid public transport. infections. Many people in medical schools pox genomes, DNA tumour viruses and spent considered virology to be at an end and about 15 years developing anti-HIV drugs. Derek The wearing of face masks is already mandatory departments could be run down. However, is a Fellow of the Royal College of Pathologists. on public transport, and with many people still with a growing world population, increased working from home and thus tacking vehicles off the road, the preferred option for anyone with a car is to drive into work. This may actually be essential to maintain the social distancing two metre rule, as public transport capacity is reduced across key services. The commutes may be small,

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As businesses put measures in place to start and a leap forward in the efforts to create a more bringing staff back into work, people will be sustainable world. In recent years people have forced to rethink and adapt their daily commute. become more environmentally conscious and the While businesses will inevitably enforce social consensus suggests that many do not want to see the distancing rules in an office environment, the pollution levels rise, as we tip-toe out of the crisis. way workers’ commute will also have to change to prevent a second and third wave of the The INU scooter is a hi-tech design which provides coronavirus disease. secure, efficient and flexible transport options. After many years of design work and investment in Green Ride offers a workable solution for the prototypes I feel that the time is right for the INU adoption of micro mobility, which enables scooter to become a household name. Hopefully commuters to travel individually, maintain the 2m some good out of a dark world chapter. social distancing rule, and do so without harming the environment. We are now looking at a number of investment alternatives which will allow us to move from small We have seen real advances in electric vehicles scale to mass production. There has been interest over the last few years, and INU offers a unique from green funds through to significant car brands, and viable solution which will make sure that and with the changes forced on Government’s by people feel safe as they return to work. In urban the pandemic, we are confident that we will be areas, where the daily commutes largely consist able to find backers and soon see people zipping of cramped tubes or trains, electric scooters are a to and from work on our product. great way to complete the final stage of journey.

Micro mobility enables quick, convenient and Green Ride is represented by Bard London. environmentally friendly ways for people to A strategic communications agency based in the commute. If there is a positive, we can take from the heart of the city of London. We exist to make your coronavirus crisis, is that the levels of pollution have voice as powerful as possible. significantly decreased, and this is primarily due to Contact Giles Clayton-Jones a reduction in road traffic and air travel. Experts 07545 645 215 estimate that in many cities across the UK the level [email protected] of pollution has shrunk by over 40% - this is huge www.bard-london.com

normally covered by bus, tube or tram, but they As part of the package announced by the UK will be replaced by a huge increase in single Government, Transport Minister Grant Shapps person car trips. revealed plans to fast-track electric scooter trials with the aim of revolutionise and expanding the UK’s The problem is that public transport will decline public transport landscape and network. as private vehicle use increases. City planners are always looking to create sustainable car At Green Ride we have developed the innovative free zones, but if no one wants to use buses or high-tech INU foldable electric scooter, which is the metro systems, this will put reliance back on cars. perfect answer for governments around the world. However, as 50-60% of journeys in city centres INU supports initiatives aimed at reducing emissions are five miles or under, there is a need for new and at the same time allowing social distancing and micro mobility options. Commuters want flexible we believe that it can help achieve the new normal and ‘green’ transport solutions, and this need is with micro mobility at its heart. catered for by electric scooters.

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best characteristics of most storied investment trusts investors. We prefer more predictable opportunities which are able to invest for the long term. and focus on infrastructure-type deals, such as our previous co-investments with KKR, X-Elio, the solar Whilst the resource efficiency theme offers significant developer, and the recently listed smarter meter opportunities, we believe that the investment company, Calisen Group. Navigating the changing landscape landscape at a company level is an increasingly difficult place for investors. Correctly picking the few With our own capital invested, we are fully aligned of resource efficiency investing winners is no easy task. The pace of innovation and with shareholders and intend to continue adhering Ben Goldsmith www.menhaden.com rate of change continue to accelerate, leaving fewer to our conservative approach. Currently, we remain CEO business models safe from the threat of disruption. By optimistic on our current portfolio’s prospects. Whilst Menhaden Capital Management LLP their very nature, these risks are difficult to quantify the immediate outlook is surrounded in uncertainty, and evaluate. Consequently, we adopt a measured we were able to take advantage of the coronavirus and patient investment approach and focus on trying induced market volatility to purchase public equities In our view the world is undergoing a green network, now procures ‘lumens’ as opposed to lamps to identify the more predictable opportunities, with at prices, which we believe will deliver good returns in industrial revolution, at the heart of which is the and bulbs for lighting the country’s highways. With limited downside risk and identifiable assets and cash the years ahead. drive for resource efficiency, creating a huge market lighting provider Phillips now responsible for covering flows, which can be acquired at attractive valuations. opportunity for businesses which are pioneering the costs of energy, replacement bulbs and lamp Our research process is entirely in-house, driven by Global equity markets have rallied hard on the back approaches and technology in line with this trend. A maintenance, improving resource efficiency makes our own bottom-up analysis. This provides us with the of coordinated action by governments and central world powered by solar and wind was considered the financial sense. conviction to run a concentrated portfolio (15 to 25 banks, which is unprecedented in both its speed pipe dream of environmentalists as recently as the start positions). and magnitude. We do not claim to know whether of the last decade. Since then the costs of solar and Recognising these emerging and accelerating themes, this is sustainable or not in the near term and there wind have fallen so much each year that solar is now we launched Menhaden PLC with its initial public In public equity markets, we seek to identify great and are valid questions around the long term economic demonstrably the cheapest source of power for two offering on the main market of the London Stock enduring businesses, which benefit from robust barriers effect of the actions taken to date. We remain acutely thirds of the world’s population, with wind following Exchange in July 2015. The Company has a broad to entry and which can deliver material earnings aware of both the impact of the low interest rates a similar trajectory. Meanwhile the emergence of the resource efficiency-based mandate, which allows it growth over the long term. These are dominant on valuations and the potential for rising inflation ‘circular economy’ is increasingly aligning incentives to to invest across the capital structure (equity & credit) businesses are protected from disruption and offer expectations from their current suppressed level. In ensure continuing improvements in resources efficiency in both public and private markets on a global basis. exposure to improving resource efficiency in different our view credit markets do not compensate lenders and in the process fundamentally changing business In opting for a closed ended structure, we aimed to ways. Our core holdings include Alphabet, Charter for the risk which they are incurring and we have models. The Autobahn, Germany’s vast motorway create a permanent capital vehicle with some of the Communications, Safran and the Canadian railroad struggled to find attractive opportunities. We believe duo, Canadian National and Canadian Pacific. the most appropriate path to follow is to focus on truly Meanwhile in private markets, we are highly selective competitively advantaged businesses, which are not and look to co-invest with best-in-class operators. Our at risk of disruption. These businesses possess genuine strong network provides us with access, on beneficial pricing power and should be to able to provide terms, to opportunities which are not available to other reasonable returns over time in most environments.

Risk Warnings This document is for information purposes only and does not constitute an offer or invitation to purchase shares in the Company and has not been prepared in connection with any such offer or invitation. Before investing in the Company, or any other investment product, you should satisfy yourself as to its suitability and the risks involved, and you may wish to consult a financial adviser. Any return you receive depends on future market performance and is uncertain. The Company does not seek any protection from future market performance so you could lose some or all of your investment. Past performance is no guarantee of future results and the value of such investments may fall as well as rise. Capital security is not guaranteed. Shares of the Company are bought and sold on the London Stock Exchange. The price you pay or receive, like other listed shares, is determined by supply and demand and may be at a discount or premium to the underlying net asset value of the Company. Usually, at any given time, the price you pay for a share will be higher than the price you could sell it. For further information on the principal risks the Company is exposed to please refer to the Company’s Annual Report or Investor Disclosure Document available at www.menhaden.com

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This may seem simplistic but once you interrogate being paid, it’s in the worth of the overall monetary what the actual value of something is it will sit saving being delivered. somewhere on this Venn diagram. It’s similar with making money. If a more expensive Did you know there are only 3 You, your business, your product/service (or service is going to deliver 10x what a service that types of value? whatever) can add value for someone else by costs half can, there’s more value there. So, whilst hitting one, preferably two or ideally all three of the value to be had is monetary it’s not to do with Russ Powell www.sharperb2b.com these areas. And getting that straight in your head the cost. Managing Director before you write a CV, start building product Sharper B2B Marketing messaging, or create a brand strategy (for So, if you want to add value to another in a example) is vital. monetary sense you need to understand and then be able to effectively communicate how you’re going to In a previous article we talked about how you nice pen you got at a conference that one time). So how do you find the promised land at the help them either save or make some sweet cashola. need to demonstrate your value as a marketer to centre of the Venn of Value, and what are we get others to care about marketing (No one care So, we’re not talking about cost here. That needs to really talking about with each of these three areas? Time Flies about marketing. Here’s 3 ways you change that). be kept in mind when we actually start talking about We gave you some excellent examples of what that the first circle in the “Venn of Value”. But we’ll get to Monetary Worth, NOT cost Time is really the only finite resource we all have. value could be. Of course we did. that. You part with a £ and you can make another £. Just to reiterate we’re not talking about the cost of You let a minute pass and you’re never getting that But it then got us on to thinking about what lies at What is really of value to you? something here (as explained above). I want to be minute back. It’s probably why we say that we the core of “value”. sure that’s nice and clear. “spend” our time doing stuff. What do people truly value? The things they own, Part of our mission at Sharper is to make B2B experiences they’ve had, relationships they’ve We’re talking about whether what you do helps So, if you want to add value you’ve got to give marketing and B2B marketers more valued. built, their health and wellbeing? It can really be another to either save money or make money. people some of that finite resource back. You can Creating a world in which a business and its non- any number of things. And what one person values do that by either reducing the amount of time it takes marketers hold marketing in a high regard, seeing another may find worthless, so it may seem like it’s SIDE NOTE: We’re using YOU here to cover them to do/find/make/deliver something – enabling what they do as important and useful. Wouldn’t that impossible to really nail down. yourself, your product/service, or your business as them to do more in the same space of time – or by be nice… a catch all term for the value provider. And we’re taking the task off their hands altogether, freeing up But it isn’t. using ANOTHER here to cover an individual, a the time they would have spent for something else But to be valued you first need to provide value. So group of people, or an entire organisation as a entirely. how do you that? What people value will boil down to 3 things; The catch all term for the value recipient. Monetary, Time, and Perception. Which are handily When it comes to time as value you’ve either got to Not by counting the pennies illustrated in the “Venn of Value” below. This isn’t about salaries, solution costs, or service optimise it or gift it. charges. Now before we get into this it’s important to Now, you can clearly add value to another by clarify we’re not talking about cost or the price of To illustrate let’s say we have 2 competing service taking up more of someone’s time. You could run stuff here. Cost and value are two different things. providers, battling it out for a contract you’ve a really in-depth, week-long training course that What something costs is a purely fiscal discussion got up for grabs. InterSlice charges £10k and gives someone knowledge they really want or carry whereas value is what something is worth. CompuGlobalHyperMegaNet charges £25k. On out a detailed research project that uncovers some the surface of it, looking purely on cost you’d go powerful insights you can use, for example. You could have something that’s expensive but for InterSlice all day long. worthless, in that it doesn’t add value – insert But in these instances, as long as whoever’s on the name of any flop “big money” footballer here However, based on their proposals InterSlice receiving end derives worth from the time spent and – or you could have something that’s monetarily will be able to save you £40k over the life of the doesn’t see it as a waste the value of what you’re cheap but is worth loads to you – a love note from contract but CGHMN will be able to knock out doing lies elsewhere. And that’s either because that your better half (or something less sentimental…a £120k. The value of this decision isn’t in the price time well spent then helps them save or make money, and/or helps with Perception.

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We are what we perceive we are perception. ‘Less bad’ is about removing a negative perception or reducing an existing negative Perception is the trickiest element in the Venn perception. of Value as it’s quite literally impossible to quantify. You can easily count savings or revenue Key then, if you want to provide value through a improvements in pounds and pence. The time change is perception is working out what ‘Good’ you’ve saved or freed up can be clocked in and ‘Bad’ are to people, so you know what you Wolverhampton on Screen minutes and hours. need to add, improve, remove or reduce. Thomas O’Brien [email protected] 07711 316 567 But perception, how someone sees themselves/ How do you do that? Sorry, but I can’t tell you. It’s Tom Wrote It their team/their business or is seen by others not that I won’t tell you, I actually can’t. can’t really be measured on a scale or scored accurately. People can give their own scores, but It’s up to you to do the research on your target they will be exactly that. Their own. Someone’s 9 audience and get under their skin so you can maybe another person’s 6 – whatever that means. understand what they want, what they don’t want and how you can add value to them. You might not have visited the Black Country yet... contributions to the next age of industry. An area but you’ve definitely seen it. The Black Country that was once known for coal mining may well But you can; make someone feel more secure or Living Museum located in Dudley (just outside become redefined as a centre of data mining and of Wolverhampton) has been the scene of many analysis. make someone else feel less scared, make one smash hit TV productions and films. person feel happier or make another person less The Black Country Living Museum doesn’t just anxious, cause someone to perceive themselves as Probably the most notable of these is Peaky open a door to the region’s industrial power. It making a shrewd choice or have others perceive Blinders, Steven Knight’s gangster epic set in also gives antique collectors an opportunity to them as knowledgeable. The possibilities are as Birmingham during the interwar years. Many admire some of the gems of the past. The Museum varied as the range of human emotions, but make scenes from episodes across the first five seasons is the scene for another hit BBC series: Antiques sure you do your research so you can tap into the of the show were filmed in the Museum’s Roadshow. right ones. recreations of old Back-to-backs (houses), docks, shops and factories. While the state of some of Fiona Bruce’s celebration of the treasures that Using the Venn of Value yourself the streets depicted throughout the series would many people had no idea were in their attics has make modern-day Health and Safety inspectors regularly visited the museum. It makes perfect Hopefully this article has given you some food for do a double-take, they provide an excellent sense that the museum is the scene for such an Although it’s tricky to measure it’s probably the thought on the nature of value and how you can representation of what many urban areas across appreciation of craftsmanship, as many merchants most important element of the VoV. create it – for yourself, your team, your business and England were like at the time. across the Black Country made some of the UK’s pretty much any other stakeholders you’ve got in most prized possessions. Nearby Stoke-on-Trent Perception taps into underlying emotional and your life. Nowadays, as with the rest of the UK, you can (about half-an-hour from Wolverhampton by psychological needs and desires that people walk down the streets of the Midlands without train) was a global centre for pottery and fine have and how you, your product/service or Don’t treat the Venn of Value as just a business thing provoking a fight with somebody in a newsboy china. Josiah Wedgwood supplied wonderfully your business helps address them. All the logical either. It’s got application pretty much everywhere. cap or worrying about exactly where you’re ornate tableware to Royal houses across Europe. arguments you can raise around money and And don’t just use it for yourself, feel free to turn stepping. You can also see that the entrepreneurial Monarchs made key policy decisions while time will probably be trumped by an emotional it around onto others and challenge how (and if) spirit encapsulated by the Black Country Living drinking tea from his cups. approach that effectively addresses perception. they’re adding value to you. It can go both ways. Museum’s dockyards, shops and lime kilns is still integral to the region’s growth. That’s why the TV shows filmed in and around The value you provide that’s associated with If you do need to get a deeper understanding of Wolverhampton are far more than just Perception then will generally fall into one of two how you and your marketing is adding value or Just as the Black Country’s manufacturers played entertainment. They provide a wonderful insight categories: More Good or Less Bad. could add more value for your business and your a key role in determining how business was into the huge industrial and cultural impact that customers give us a shout. It’s the kind of stuff we conducted across the UK all those years ago, the Black Country and its surrounding towns and ‘More good’ is about adding a positive love talking about…and we value talking about too. Wolverhampton Science Park is home to many cities have made – and continue to make – on life perception or improving an existing positive of the tech start-ups who will make significant around the world.

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Customer micro-segmentation and behavior neuroscience application in marketing, also known prediction - thanks to understanding customer as neuromarketing. Neuromarketing is the science Marketing Emerging from journeys on a granular level and through deep of human decision that uses neurometrics, biometric Technology learning. This allows companies to communicate and psychometrics to understand our behavior. ‘personally’ with every customer, optimising [email protected] Yana Lapitskaya customer experience and increasing loyalty and It flourished because traditional marketing doesn’t www.yaystarter.com Yay!Starter Marketing lifetime value. Coupled with other AI technologies give you an answer to a question what consumer as well as with neuroscience that we will talk wants. In traditional marketing you find it through about later, this basically allows companies to trial and error, whereby neuromarketing measures deliver the right message to the right people at the how people react to stimuli. Artificial Intelligence help you optimise the spend and efficiency of your right time – like never before. campaigns by testing multiple different audiences Nowadays, thanks to advanced technologies AI is the most mature technology of all three this until the best audience is identified and marketed to. Takeaway like voice analysis, eye-tracking, EEG and piece is going to focus on. The term was first In our view very shortly most of the marketing fMRI scanning measuring brain activity and used in 1955 by a team of American computer Content marketing and creation plus the curation tasks will be automated through various AI understanding reactions is possible. The way scientists led by John McCarthy. By all means of content applications. The exceptions will be the areas it works is that groups of people participate the technology is not new, but the applications that require either human to human relationships in sessions where a technology of choice is of it haven’t been able to blossom until the late Yes, AI technology allows to create articles that building or creativity skills – here people are employed to measure their reactions to stimuli. 1990s. The reason being slow computers unable mainstream media like Associated Press or BBC unlikely to be completely replaced but AI will This way researchers can gather enough data to process enough data fast enough. In the are happy to publish! It may not be political still enable them to do a better job. It pays off to to understand what drives people’s desires, past 15 years however companies like Google, analysis at this stage, but news articles from understand the AI landscape in order to better motivation, interest and in the end of the day - Amazon, Facebook and many others managed financial reports turn out just fine! A tool called manage your company and your career. buyer behavior. to successfully implement multiple AI applications Persado on the other hand is capable of creating and commercialise its usage. We are now diverse marketing copy for almost any digital Neuroscience and neuromarketing It’s possible to measure people’s reactions to standing on these giants’ shoulders and are able channel: email, landing pages, social media and commercials, brands, websites, packaging etc. to utilise AI pretty much in any industry – with or more. They also claim that its cognitive content Neuroscience is another fancy term that we keep and get their unbiased, non-rationalised reactions without knowing it. exceeds what a human could do 100% of the time. hearing. Similar to Artificial Intelligence, neither that are impossible to get using traditional methods the term nor the science behind it is particularly like focus groups, surveys or interviewing. Some Here are some examples of AI applications that Customer and team interactions through chatbots new. The ‘modern’ brain studies date back to marketers and neuroscientists even go as far as are changing the world of marketing right now. In the 19th century. Many consider the Spaniard claiming that there’s a ‘buy button’ in your brain 2018 a survey by Salesforce indicated that 51% Chatbots can increase customer loyalty, company Santiago Ramon y Cajal who won a Nobel prize that can be activated on demand. Scary, right? of marketers are already using AI, and 27% more productivity and assist various internal teams. They in 1906 for his brain studies to be ‘a father of were planning on incorporating this technology in have applications in both consumer and enterprise neuroscience’. There are under 100 companies in the world 2019. worlds that go beyond customer care. There are providing neuromarketing services, but we expect chatbots for pretty much any internal function of However, we are not going to talk much about the the number to grow as the technology becomes Let’s look at the AI applications in marketing most an enterprise. Just to give you a few examples: medical type of the brain study here. Our focus is on more mainstream. relevant for B2B companies: Meekan integrates with Slack and can schedule team meetings, check for flights and organize Digital advertising and the targeting and multiple calendars in different time zones. Pretty optimisation of campaigns helpful! Kudi is empowering financial teams streamlining payment processes – it can pay your Facebook and Google use AI to identify people bills, set bill reminders and make fund transfers. more prone to making the advertiser’s desired There are chatbots/virtual assistants for HR, IT and action and to run automatic auctions to minimize of course customer care teams. the cost of conversion. And tools like Adext AI

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Why is it important to measure our subconscious? marketing since the launch of social media. It’s because the decisions about what we need or want are made in the subconscious area of 6 stimuli of the system 1 brain our brain in milliseconds. And later our conscious mind post-rationalises them. • Me-centred which include images, so using ‘you slogans’, pics shot from a viewer Reptilian brain = Instinctual viewpoints. Middle brain = Emotional • Contrast, which include contrast ads like New brain = Rational before and after Lamwyk is a subscription membership networking We aim to run our events every 3-4 weeks, • Tangible concepts, where you can see the group which curates events that are centred typically in the boardrooms of our members and value prop clearly on the typical clients that we all advise rather there are usually 20-25 present on each occasion. • Only the beginning and the end really matter, than any particular industry group. We break We usually meet as a round table and are in which is important for video and radio ads to down professional silos to the advantage of all discussion for an hour. work effectively our members. We ensure that the reach of our • Visual, whereby eye nerves plug directly into members is deeper, wider and much more diverse Members pay a modest monthly subscription our reptilian brain! than they could ever hope to do on their own. and Lamwyk is recognised as being highly cost • Emotion, so that pictures/video clips have effective for our members. This subscription visual triggers Members all share a passion for advising those ensures there is no product in the room nor any who would be considered financially privileged, sales by sponsors. This model is clean, unique and Everyday applications ensuring that their clients achieve great benefit highly effective. from our collaboration. It is about sharing best This concept is covered in a book by Daniel Tall glass vs a wide glass, a tall glass creates an practice, being more effective in one’s business Kahneman, who is a 2002 Nobel prize winner. illusion that you are drinking more, so if you want and by growing profitable revenues for all This book is called Thinking, Fast and Slow. He your kids to drink less sugary water then give them participants. calls it System 1 and System 2 brain. tall glasses!

Neuroscientists have discovered that our £, $ and other currency signs, as well as ‘, .’ and instinctual self, our System 1 brain, has a greater multiple ‘000’ all create a perception of a higher Edward Goodchild impact on our decisions rather than rational price! So, when pitching for that contract write Publisher & Co-Founder or even emotional us and neuromarketers are 100K (British pounds) rather than £100,000. exploring this area, whereas the traditional market [email protected] research has been focused on our System 2 brain. Takeaway 07917 823 333 Next time you are thinking how to influence people Now, enough about theory, let’s see what marketers around you, be it the target audience of your business can do to leverage System 1 brain and why we or your family, remember to deliver to their reptilian, are potentially witnessing the biggest revolution in System 1 brains, no matter how smart they are! Harry Corbett Head of Research & Co-Founder

[email protected] 07939 540 864

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The views expressed in this document are not intended an offer or solicitation for the purchase or sale of any investment or financial instrument. Information contained within this document has been compiled from sources believed to be reliable but have not been independently verified; no representation is made for accuracy or completeness, no reliance should be placed on it and no liability is accepted for any loss arising from reliance on it.

Readers are advised that Lamwyk & Co Ltd has accepted articles and advertisements for publication in good faith but should be advised that Lamwyk & co Ltd cannot accept any responsibility for views expressed nor the advertisements published. Lamwyk & Co Ltd reserves the right to withdraw any article or any advertisement at any time. The views expressed are not necessarily those of Lamwyk & Co Ltd.