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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Imprint | IMP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 113.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 113.00 |
| Top Posts |
|---|
Posted at 21/4/2008 10:05 by jockblue Des - did Selftrade move on your shares....I'd guess not as this was pretty much what I requested. I've had another go today....Imprint (again) I have a holding in IMP, and elected to vote in favour of a scheme of arrangement in relation to Hydrogen's proposed takeover. I elected to take the cash alternative if the scheme was approved. As such, you have moved my holding into escrow, where it has remained for several months. I have been informed by you that I didn't understand the nature of accepting the cash alternative, but from my understanding, I believe you to be wrong. May I draw your attention to the latest RNS regarding Imprint. This paragraph in particular seems relevant The Board withdrew its recommendation of the Hydrogen Scheme on 7 March 2008 and adjourned indefinitely the meetings relating to the Hydrogen Scheme on 12 March 2008. Whilst Imprint shareholders are not required to take any further action in respect of forms of proxy they may have returned in relation to the Hydrogen Scheme they should note that forms of proxy previously returned in respect of the Hydrogen Scheme will not apply to the Premier Scheme. Accordingly, any Imprint shareholder who wishes to vote in respect of the Premier Scheme is required to return the forms of proxy enclosed with the Premier scheme document, which was posted to Imprint shareholders on 8 April 2008, irrespective of whether or not they have previously voted on the Hydrogen Scheme. As the meeting has been adjourned indefinately, can you explain the justification of continuing to hold these shares in escrow. Thank you jb |
Posted at 17/3/2008 09:40 by williebiz I've been maing that point repeatedly, Stemis. Which is why I'm not keen on cash. IMP is getting sold on the cheap by incompetent mgt. Just because there aren't any better offers out there right now, doesn't mean there aren't better options. Board should not be recommending offers that substantially undervalue IMP - yet that is exactly what they are doing. An all share offer would at least mean we get rid of IMP's pathetic board and share in the revival, but that option (via HYDG) now realistically looks dead though I guess HYDG could come back with a better deal. Otherwise shareholders would be better off waiting for IMP to carry on running the business, making money and hoping that the decent members of the board take control and up the board quality over time. With all the new holders who'd be happy for a quick 10% gain I guess there aren't many like myself left any more. |
Posted at 05/3/2008 09:31 by williebiz 115p too cheap, we all forget IMP as a takeover target should be valued on at least 12x earnings (£8.27m forecast). Even given downturn in recruitment and loss of some small parts of IMP's business (sold), earnings should come in over £6m. OPD were thinking of offering about 145p, ISTR?For reference, IMP LY: FINANCIAL HIGHLIGHTS Turnover up 46.1% to £80.1 million (2005 - £54.8 million) Gross profit (net fee income) up 41.0% to £44.9 million (2005 - £31.8 million) - Gross profit from 2005 acquisitions up 43.2% to £26.9 million (2005 - £18.8 million) - Gross profit from organic business up 32.6% to £17.3 million (2005 - £13.0 million) Operating profit before amortisation of goodwill, share-based payment charge and exceptional items up 64.1% to £11.6 million (2005 - £7.1 million) Profit before amortisation of goodwill and exceptional items up 61.6% to £11.3 million (2005 - £7.0 million) Pre-tax profits up 109% to £9.1 million (2005 - £4.4 million) Diluted EPS up 136% to 17.0p (2005 - 7.2p) Diluted EPS (adjusted for exceptional items and amortisation of goodwill) up 65.2% to 22.3p (2005 - 13.5p) Final dividend of 2.6p per share (2005 - 2.0p maiden dividend) Strong balance sheet with cash of £4.3 million |
Posted at 26/2/2008 17:18 by gengulphus Are the IMP board not convinced about the funding of the Premier proposal. I would think it strange that Premier have not sorted it out before making their announcement ?There's a difference between Premier having sorted everything to do with deliverability out and the Imprint board becoming convinced that Premier have sorted those things out... Also, the things concerned are not just funding - they also include whether Premier can get enough shareholder support, given that quite a number of shareholders have given irrevocable undertakings to vote for the Hydrogen scheme. Details of those undertakings might be important, such as what they say about proposals to adjourn the EGM - an irrevocable undertaking to vote for the scheme doesn't count for much if the vote never happens because the EGM is adjourned past the date when some other bidder takes control of the company! It's definitely getting complicated! And I think it's a safe bet that there's a lot of lobbying going to be going on in the next few days between the Imprint board, the OPD board, the Hydrogen board, the Premier board and major Imprint shareholders... Gengulphus |
Posted at 13/2/2008 17:35 by williebiz The key highlights are:* Basic Offer of 0.461 New Hydrogen Shares for each Imprint Share valuing each Imprint Share at 97.8 pence based on the Closing Price of a Hydrogen Share on 12 February 2008 * a revised and increased Partial Cash Alternative whereby Imprint Shareholders will be able to elect for 110 pence in cash for each Imprint Share, in lieu of some or all of the New Hydrogen Shares to which they would otherwise have become entitled under the Basic Offer, subject to an aggregate maximum amount of cash payable under the Partial Cash Alternative of £37.3 million (the "Increased Partial Cash Alternative"), previously £20.5 million * the additional cash for the Increased Partial Cash Alternative will be financed through a combination of Hydrogen's existing facilities, a committed term loan from HSBC Bank plc and the subscription of further Convertible Notes by 3i QPE (on the same terms as the 3i QPE Arrangements described in the Scheme Document) * all Imprint Shareholders will receive a second interim dividend of 1 pence in cash per Imprint Share as announced by Hydrogen on 12 February 2008 (the "Second Interim Dividend") in addition to any consideration received under the Basic Offer or the Increased Partial Cash Alternative |
Posted at 12/2/2008 17:03 by williebiz 1 Terms of the Increased ProposalUnder the terms of the Increased Proposal, Imprint shareholders will be entitled to receive a Basic Offer of 0.461 New Hydrogen Shares plus the Second Interim Dividend of 1 pence in cash (payable by Imprint) for each Imprint Share (the " Revised Basic Offer"). Alternatively, under the terms of the Increased Proposal, through the Partial Cash Alternative, each Imprint Shareholder will be able to elect to receive the Second Interim Dividend of 1 pence plus 110 pence in cash for each Imprint Share, in lieu of some or all of the New Hydrogen Shares to which they would otherwise have become entitled under the Basic Offer, subject to an aggregate maximum amount of cash payable under the Partial Cash Alternative of £20.5 million. The basic terms of the Increased Proposal value the entire existing issued and to be issued share capital of Imprint at approximately £39.3 million. The Revised Basic Offer represents: * a premium of approximately 11.5 per cent. to the Closing Price of 89.75 pence per Imprint Share on 11 February 2008, being the last business day Immediately prior to this announcement; and * a discount of approximately 38.7 per cent. to the Closing Price of 163.25 pence per Imprint Share on 8 August 2007, being the last Business Day prior to commencement of the offer period relating to discussions between the Independent Imprint Directors and the Imprint Management Team relating to the Alchemy Backed Approach. These discussions were terminated on 7 September 2007. The terms of the Increased Proposal described in this announcement remain subject to the Conditions and do not affect Hydrogen's intentions regarding the business of Imprint, its management, employees and locations, nor the proposals relating to the Imprint Share Schemes, each as described more fully in the Scheme Document. Imprint Shareholders will receive the Second Interim Dividend of 1 pence per Imprint Share payable by Imprint subject to the Scheme becoming effective. The Second Interim Dividend will be paid within 14 days of the Effective Date to Imprint Shareholders on the register at 4.59 pm (London Time) on the date on which the Scheme Court Order is delivered to the Registrar of Companies for registration (being the time immediately prior to the Reorganisation Record Time). Subject to their continued recommendation by the Board of Imprint at the end of the ongoing auction process, further details of the Increased Proposal will be contained in a supplementary circular which would be posted by Imprint to Imprint Shareholders as soon as reasonably practicable and in any event in advance of the EGM and Court Meeting. |
Posted at 22/1/2008 11:50 by kimboy2 The present HYDG price is supported by the 3i QPE offer of 238.6p for all free float HYDG shares. The implication of the IMP price is that once this is removed the HYDG price will fall.The present cash alternative is for a maximum of £20.5m which is 53.5p of cash per IMP share. In addition we would receive 0.237 new HYDG shares. At a price of 84p per imp share this implies an HYDG share price of 128p. I would have thought this unlikely and there is the probability that the cash alternative will be greater because some shareholders will take the shares. |
Posted at 18/1/2008 09:52 by davidosh b) The Imprint Directors have given irrevocable undertakings to accept orprocure the acceptance of the Offer in respect of the following Imprint Shares owned by them or their connected persons: Name Number of Imprint Percentage of existing issued share Shares capital Colin Webster 9,000 0.02 % John Gordon 51,500 0.13 % John Hunter 4,000 0.01 % Robert Thesiger 375,201 0.98 % Total 439,701 1.14% The undertakings referred to above will lapse if the Offer is withdrawn or lapses. The undertakings referred to above would have lapsed if, prior to 18 December 2007, the date on which the Imprint Directors were required to accept the Offer, a third party had announced a firm intention to make an offer under Rule 2.5 of the Code for the entire issued share capital of Imprint, other than that which is already owned by the person making such offer, if the value of the consideration available pursuant to such competing offer represents an increase of 20 per cent. or more to the value of the consideration being offered under the Offer. (c) Of those irrevocable undertakings to accept the Offer referred to in (b) above, the following remain outstanding and have not been assented to the Offer: Name Number of Imprint Percentage of existing issued share Shares capital Colin Webster 9,000 0.02 % John Hunter 4,000 0.01 % Robert Thesiger 375,201 0.98 % Total 388,201 1.01% It appears that John Gordon is the only director backing OPD but we already knew his leaning there. OPD clearly need to make a better offer with a substantial cash element in my view if they are not to end up with egg on face and a huge bill plus a loss on their IMP share dealing |
Posted at 08/11/2007 10:13 by apatel21 Just noticed this rns from Hydrogen issued yesterday. Why was this not released/noted by IMP in an rns of their own. JG continues to ignore Hydrogen at the expense of IMP shareholders. I haven't copied all of it because of copyright but the most important bits in my view.Hydrogen Group Plc Possible recommended offer for Imprint Group plc The Board of Hydrogen strongly urges Imprint shareholders to take no action with regard to the OPD offer at this point. The OPD offer, based on the closing share price of OPD of 277 pence on 6 November 2007, values each Imprint share at 108.9 pence, materially below Hydrogen's proposal and approximately 7 pence below the current Imprint mid-market share price of 116.25 pence. Hydrogen continues to work with Imprint and its advisers towards completing the outstanding areas of due diligence with a view to announcing its proposal, on a recommended basis, as soon as practicable. Hydrogen is currently meeting Imprint shareholders to outline the merits of a combination of Hydrogen and Imprint. |
Posted at 06/11/2007 07:25 by rivaldo Wake up chaps!" Hydrogen Group Plc Possible offer for Imprint Group plc The Board of Hydrogen Group Plc ('Hydrogen') announces that it made an approach to the Board of Imprint Group plc ('Imprint') on 8 October 2007 regarding a proposed possible offer by Hydrogen for the entire issued, and to be issued, share capital of Imprint. Since then Hydrogen has undertaken extensive due diligence on Imprint. Discussions in regard to the possible offer are well advanced, but ongoing. The key areas of Hydrogen's due diligence, including Hydrogen forming a view on Imprint's prospects for the years ending 31 December 2007 and 2008, have now been substantially completed. Proposed consideration The proposed consideration is 0.461 new Hydrogen shares for each Imprint share. Based on the closing share price of Hydrogen on 5 November 2007 (the last Business day prior to this announcement) of 272.5 pence, this values each Imprint share at approximately 125.6 pence. Imprint's issued and to be issued share capital would be acquired fully paid and free from all liens, equities, charges, encumbrances, rights of pre-emption and other third party rights or interests and together with all rights now or hereafter attaching thereto, including the right to receive and retain all dividends and other distributions (if any) declared, made or paid on or after the date hereof, save for Imprint's interim dividend of 1.5 pence per share that was declared on 7 September 2007. The new Hydrogen shares would rank pari passu with the existing issued share capital of Hydrogen, save for the interim dividend of 2.0 pence per Hydrogen share declared on 11 September 2007. The combined group Hydrogen believes that Hydrogen and Imprint are highly complementary. The Board of Hydrogen believes a combined group would: - have a market leading proposition, that will facilitate the attraction of new staff and be well positioned to enhance its international presence; - have a leading senior management team within the UK recruitment sector; - benefit from a step change in scale; - be one of the largest professional recruitment businesses in the London market in terms of headcount; - have an increased critical mass in the UK finance and accounting recruitment sector; and - maintain a disciplined framework to grow further a broad range of market leading brands. In addition, the Board of Hydrogen anticipates that there is considerable potential for cost savings and synergies to be realised over time. The Board of Hydrogen considers that, subject to the satisfactory conclusion of the ongoing disposals by Imprint, before taking into account the benefit of any synergies the acquisition of Imprint should not be earnings dilutive in its first year. This should not be interpreted to mean that Hydrogen's earnings per share will necessarily be greater, or less, than in its preceding financial year. Pre-conditions to making the offer announcement The proposal is subject, inter alia, to: - the satisfactory completion of certain further limited due diligence; - the Board of Imprint recommending the above proposal; - Hydrogen being satisfied that there are suitable arrangements with regard to the ongoing disposals by Imprint; and - Imprint entering into a satisfactory break fee arrangement with Hydrogen. Hydrogen intends to approach Imprint shareholders with a view to outlining to them the merits of the proposal. Hydrogen reserves the right to waive, in whole or part, any of the above pre-conditions at its sole discretion. Any offer, if made, will contain customary terms and conditions for a UK public offer. Current trading Hydrogen's interim results announcement of 11 September 2007 included the following: 'Trading in the second half of the year has started well and in line with the Board's expectations and our brands continue to show strong growth. We were particularly pleased with the performance of our Sydney office, launched earlier this year. Representing Commerce Partners the office focuses on local market and candidate flow, to and from Australia. 'Whilst the current uncertainty in the debt market has resulted in lower job flow for some of our teams in this sector, overall activity across the business remains high underlining the importance of our diversified business model. The majority of the niche markets on which we focus continue to experience high demand for specialist candidates, underpinned by demographics and increased legislative and regulatory change.' Since 11 September 2007, trading has continued to be in line with the Board's expectations. Other Whilst the discussions are at an advanced stage, there is no certainty that an offer will be forthcoming, even if the pre-conditions are satisfied or waived. Accordingly this announcement does not constitute a firm intention to make an offer under Rule 2.5 of the Takeover Code. A further announcement regarding the proposal will be made when appropriate." |
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