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Inditherm Share Discussion Threads
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|The usual small cohort of shareholders turned out to witness the transition of Inditherm into Inspiration Healthcare and the vote was almost unanimous in support.
I had the opportunity to talk with two of our new directors Toby Foster (Sales Director) and Neil Campbell (CEO) and they both gave me confidence in our future prospects.
They are young, ambitious and entrepreneurial so that ticks my boxes and with guidance from Mark Abrahams things should develop here very nicely.
The Inspiration website gives a good overview on their current activities, so it’s well worth a visit:
|Good spot playful!
Appears to fit well alongside Inspiration Healthcare's Neonatal respiratory products which could well help to sell them in the future.|
|New Maternity Unit standardises on LifeStart
Nine LifeStart neonatal resuscitation units are to be delivered to the new Northumbria Specialist Emergency Care Hospital in Cramlington, in time for the projected opening in June 2015. This new unit will transfer all the existing maternity services from Wansbeck Hospital.
Waiting a few minutes to clamp the umbilical cord after birth could boost a child’s co-ordination and social skills, according to new research.
|Back to sleep...|
|Buyers again this morning :))|
|And there goes an effing useless CEO, bye bye Bettles|
|aye... but if IDM on its own faced running down the cash pile over a few years without turning a profit....|
|I suppose it is a distressed sale so as IDM shareholders we can expect to lose out but it appears to be a real bargain for the Inspiration Health Ltd shareholders who in a reverse takeover are getting AIM status, tax relief on the losses, the opportunity for cost savings and a chunk of cash for relatively little dilution.|
|Well done those in at 3 to 5p|
|Yep the prospects on our own were mildly dire, that has changed considerably to the positive, a very smart move by a somewhat lambasted management.|
|if one takes a more optimistic view,
suppose Inspiration's EBITDA increases to £1m pa for y/e Jan 2016. suppose due to economies the IDM business is a net contributor of say £0.2 pa.
Give it a pe of 20 because of the growth story.
that would suggest a post consolidation share price of about 80p. 8p pre-consolidation.
anyway. it all sounds much more promising than just burning our way through the 1m cash pile, which, i fear, was all that was going to happen over the next 3 years with IDM as a standalone outfit.|
|22p, oh come on|
|Lfc, Good starting place. A value of 2.2p per share should be an undershoot as nearly all idm hq/central costs should be eliminated. IDM is so small that there is no need for any overlap of functions, or cost centres. The selling side could probably be mostly rationalised away as the new company will have people in the same area who can take over what are very small deals.I havn't got idm accts in front of me as I write this, but it should be a 600k - 800k add on.|
|ah yes, the infamous advfn reasoned post.|
|so, instead of owning 100% of a loss making company, with no growth, valued basically at cash this morning, current IDM holders will own 16.7% of the new company.
Fag packet calcs:
taking the y/e 31/1/15 figures, adjusted EBITDA was £0.8m.
let's say an IDM loss of 0.2m to come off that.
about 31m shares in the entity = EBITDA of about 1.9p per share?
p/e 10 = 19p
Say cash of about £1m, worth about 3.2p per share post consolidation.
fair value post consolidation of about 22p per share.
Therefore pre-consolidation value of 2.2p per IDM share?
What am I missing?|
|It is not inconceivable that we could test the highs reached a couple of years ago - the m/c is still relatively low...|
|No, it is not - but the deal is far better than one might have anticipated.
There are significant synergistic benefits - and the enlarged Company will be more robust, with better operational steering and management, and they have been growing revenues y/y, unlike Inditherm who failed to achieve the same.
Well done Mr Abrahams.|
|Yasx, the company has been saying it's been investigating strategic options since the last agm so it's hardly a surprise is it.|
|Go Inditherm Go!!|
|Excellent deal - the approval is essentially a given.
I did say recently that we ought to expect some sort of partnership or corporate deal fairly shortly, well, here it is.|
|I hope the major Private shareholders are voting yes :))|
|Well buying these is something special :)) 4p now lol...|
|Enlarged group will have sales of around £12m and market cap of around £7.2m at current price of 2.8p. Not sure of the Inspiration balance sheet but Inditherm will add approx £1m in cash.|