I became interested in Tamtron; the growth story looks attractive and, in my view, it is still attractively priced relative to that. So I started going through the company’s 2024 annual report.
Potential red flags that stood out to me:
Chairman of the Board Pentti Asikainen owns a significant majority of the shares (60%). In the 2024 Annual Report, there was also a mention in the section on related-party transactions:
- The company leases real estate from the Chairman of the Board, Pentti Asikainen, for €275k.
- The company purchases services worth €425k from a company fully controlled by Pentti Asikainen.
There is nothing inherently wrong with these as such, but of course, a person exercising significant power in the company could misuse their position in these ways if they wanted to.
Does @Pauli_Lohi or others on the forum have information regarding these transactions? What services are being purchased from Pentti Asikainen’s company, or why has the decision been made for Pentti Asikainen to sell services to Tamtron through another of his companies? Or the lease agreement where the company rents premises from Pentti Asikainen? Perhaps there is nothing more mysterious or wrong about it, but I thought I’d ask if anyone here has more information or opinions on the matter. 