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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
ILX | LSE:ILX | London | Ordinary Share | GB0033422824 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.375 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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11/9/2013 13:09 | For the most part they offer comm/IS services, granted two way radios was not where I can see Synergies, but PM and consultancy services will find business. Just to pick up on another point, why would any company accept an offer to buy it for shares valued at 20p each, when the current price was 10p, which is what you are suggesting should happen? You may believe ILX is worth 20p, but the reality is that the share price does not reflect that. I do agree if the deal doesn't happen, the ILX share price will recover, assuming the recovery in the business pans out. Its the reason I bought in the first place. Below is an overview of the units. Unified Communications Progility's Unified Communications division focuses on communications systems integration, specialising in unified communications backed by significant voice and systems technology experience across multiple industries. It designs voice and IP communications solutions to meet the needs of specific customers' operating environments which can be hosted either on the customers premises or by Progility. The solutions include combining voice, audio conferencing, video conferencing, web conferencing, instant messaging and rich presence into single unified systems. Unified Communications is the major provider of enterprise based Siemens unified communication systems in Australia. Products and services include: hosted communications providing scalable business solutions allowing customers and end users to manage as much or as little as they want within the solution with options ranging from basic dial tone to fully featured IP telephony services running on multimedia handsets, capable of supporting extended business applications; fully managed services allowing customers to outsource all voice services including the operation, management and maintenance of voice and IP systems; professional services including analysis of business performance, process and communication opportunities and pathways, solution design, development and implementation, training and service support; and scalable multimedia contact centres integrating real-time communication tools such as presence information, contact routing, conferencing, chat, speech recognition and social media with conventional tools such as voicemail, email and fax. CA Bearcom CA Bearcom is Australia's largest distributor of two-way radio communications products. Its primary supplier is Motorola Australasia and the Directors believe that it is Motorola Australasia's largest and preferred radio communications partner. CA Bearcom operates from offices in Melbourne, Sydney and Brisbane with resellers located throughout regional Australia. The assets of CA Bearcom were acquired by Progility in 2012, from TR Pty Ltd. Bearcom's activities include: the sale of Motorola two-way digital and conventional radio equipment and accessories; service and maintenance of Motorola products under warranty; and consultancy services. Minerals & Energy ("M&E") M&E designs, implements and manages an array of integrated communications solutions for specific mining, oil and gas, rail and port applications including: tailored voice and data communication solutions for production mining and safety; machine monitoring and machine to machine solutions; microwave backhaul and remote site connectivity including towers, communications huts and powered standalone communications trailers; traffic management and proximity awareness collision avoidance systems; customised, turnkey communication and safety solutions for offshore and onshore assets, and pipeline monitoring; open architecture rail technology solutions analysing data from performance monitoring devices giving a composite view of railway vehicle performance; and port perimeter security, container facilities, equipment monitoring, gates and security and connectivity between land based assets, ship and offshore oil platforms. | poombear | |
11/9/2013 12:01 | if remove the acquistion....then ILX share price goes almost straight to 20p imo 1- 1,6 annual PBT...the data is there in the accounts imo.... op. profit stated as 0.9M....and effects of cost savings (cheaper dir. costs and 10% less staff at original ILX ) are still arriving in accounts...and of acquisitions... a cap. value of 3M gives a rating of around 3. would not stay at that for long it is in the MDs PERSONAL interests to do the deal at 10p/share and not at 20p a share..he gets double the % of ILX shares..if shareholders let him get away with it the fundamentals of ILX were always there.... but just hidden partly by expensive dirs. and one off costs such as due to loans... see this msg. brd. over last 2 years....many people post that same message... ---- what do you see as the synergies between - e- learning company essentially for project management.....mostl and - distribution of two way radios in Australia to the mining sector ?? I dont see any synergy. U think a mining truck driver needs an e-learning course in how to manage projects ? I dont ! ...sure....there will be some cross selling possibilities somewhere.... but so what.....there are hundreds of possible customers out there.... you dont suddenly start selling to company X just because another part of the company sells then two way radios !!..... the Auz business of the MD ....imo ...looks like a hodge podge of companies....not very attractive...and loss making it has turnover... so what....their are many companies on AIM with high turnover....and no one is interested in buying their shares...since going no where...low margins etc. companies with decent profit margins are where you should invest imo... and ILX is one of those...Auz turnover is now 4M and it was 0 4 years ago. and sales via the internet have also grown quickly.....the poor previous dirs. didnt deliver, eg. bad cash managment..and excessive pay... but that is the past...ILX is now producing cash profits... | smithie6 | |
11/9/2013 11:24 | 40m shares @ 10p values Progility at £4m. I think your problem here is that ILX is undervalued at its current share price But it does not necessarily follow that the valuation of Progility should be based on what ILX is currently valued at. You say ILX is worth £8m but it isn't, its valued at £3.5m. And that's where we are unless the share price says something different. | poombear | |
11/9/2013 11:16 | If you do not think there are synergies, then I think you do not have a full picture of what both companies do these days. Agree with not liking an 85% shareholder, I would like to think he would reduce his holding, once the share price reflects the business, by offering to II's. With regards to loans to ILX, you have to remember that ILX were in dire straights at that time, and at one point looked like they were about to break covenants. It wasn't all rosy, and the company looks like it has turned the corner since Bos arrived (still to be seen). Have held shares with reverse takeovers before, and did ok, but I do have reservations here. Not totally made up my mind, but would be happy to hear any attempt at a valuation of Progility, based on the pdf on the ilx website. | poombear | |
11/9/2013 10:49 | Please also read other message boards.... to see how directors have shafted shareholders in similar situations. (I suggest that shareholders consider to vote NO to the acquisition.....and the ILX share price will rise as a result....ILX results in 3 months to end June 2013...are good 1-1,6M PBT annually...sp on its own will imo go to 20p.....if acquisition is voted ZES then I see 5p as the share price ..way over priced) A) FIF acquisition at 90p...sp went to 15p after it chairman sold out as part of the acquisition...he wanted a high price !!...same as the ILX MD wants a high acquisition price ...since buying his AUZ company !! B) OCH . Proposed large new share issue. directors try to shaft shareholders in EGM....shareholders revolt and vote NO...and effectively tell directors to get stuffed PI action group formed...and has legal representation at court proceedings in Cayman ISlands. beware of dirs. trying to put shareholder assets into their own pockets. imo it could also be what the ILX MD is trying to do at ILX | smithie6 | |
11/9/2013 10:44 | the ILX share price is down imo the market is not impressed by the proposed acquisition....and does not see it as a bargain --- with over 85% ....will the MD then de-list the conbined company ? or double his pay ? he will of course have no need to take any interest in the concerns of the other investors since they only own 15% --- I think shareholders should vote NO....including to the request for a waiver to have to offer to buy all shares... If the waiver is rejected...then the MD would have to offer to buy out all other shareholders... he could happily have my shares for 10p....the price for the acquisition....or a higher price if any higher price paid in last 12 months by the MD --- Also in principle....I refuse to be a shareholder in any company where the MD owns 85%......imo it always ends in tears..sooner or later...as the controlling party works to put as much of the company into his own pocket....and not into the pockets of the other shareholders....who can do nothing about it since only own small % | smithie6 | |
11/9/2013 10:30 | "It does appear that there is an over valuation" so we both agree on that ----- "Bos really has the incentive for a higher share price as he owns most of the shares." imo ....Bos incentive is to see over pay for the acquisition....since he gains much more by over valuing his stake in acquired company than smaller loss in original ILX shares same as what happened at FIF.... see msg. brd. "negative aspects about FIF" this deal is essentially the same shareholders got shafted at FIF...sp went from 9öp to 15p...since waz over paid of massive acquisition there were sznergies with FIF acquisition as well... sp now...mazbe 7 zars later....73p...still below the 90p paid for acquisition !! So DO NOT FALSELY believe that ANY acquisition is good news for shareholders...... imo the ILX MD is shafting the ILX shareholders here....by over paying by miles ...to buy a company from the MD I urge shareholders to consider to vote NO...as I will be. In any case...to vote in 1 direction. ---- imo the Auz co. of the MD should pay 20p per share to buy ILX ...fair price....and everyone gets a fair deal... by using tiny company to buy a big one at a high price...the MD gets to win big time...a bad deal for shareholders imo the MD will own 86% of ILX without putting up any cash !! ILX is a good company....see the results for 3 months to end of JUne... annually it is at least 1-1,6M PBT....worth at least 6M VOTE NO !! | smithie6 | |
11/9/2013 09:30 | Both the UC and Mineral & Energy units have declined in both revenue and profit from 2011 in both 2012 and then again in 2013. All the revenue growth has come from CA Bearcom, but that unit itself is also making a loss, due to cost of sales. The question is, and this is what we are being asked to accept, is that costs are due to one off restructuring costs, which now complete, will see a return to profit. The question I have is how much were the restructuring costs? What are the forcasts for 2014? It does appear that there is an over valuation, but I find it difficult to to come up with my own. On the plus side, there are synergies here, with the cross selling of additional services to both companies existing clients, and Bos really has the incentive for a higher share price as he owns most of the shares. Lets not forget he owns Progility privately and is in effect making it a listed company, why would he want to see a low share price? I should add that the current ILX share price indicates the market see's it as a floundering company, so on balance, with reservations, think I lean on the positive side for the deal. | poombear | |
11/9/2013 08:31 | anyone that is a shareholder ...should imo.....not wait... the docs. are available on line.... ---- Any opinions on the recent proposed acquisition....of other company where the MD is main shareholder... imo the price is far too high....and is to financially benefit the MD of ILX and imho ILX shareholders should vote NO ----- If shareholders vote NO...then in my opinion ILX shares will go to 20p. (ILX is clocking in a PBT of 0.9-1.6M) (ref. recent accounts showing decent results once remove one off costs) (the new MD has done an OK job of throwing out parasitic leeching useless previous dirs. ....and reducing staff numbers to match income.....etc....fa if shareholders vote YES then in my opinion the new ILX shares will go to 5p due to the 160M new shares and over priced acquisition of LOSS MAKING AUZ COMPANY....which is suffering from slow down in the mining sector ---- imho vote yes if want 5p share price or NO if want 20p share price Opinions ?? | smithie6 | |
11/9/2013 07:35 | Smithie, thanks for all of that. Glad someone has done some research. I am waiting for the acqn docs but fear the worst..... | graham1ty | |
10/9/2013 20:47 | oh and in case anyone hadnt noticed... there has been a persistant seller for last X weeks.... whenever any buys.....they popped up and sold some..... but then had to wait till someone bt. those before they could off load some more insider trading perhaps ? was the recent move up to 11p quoted buy price...but no volume... an intentional market trick to try to generate buyers... to enable the seller to off load some volume....just days before this acquistion news...? London mkts ...stink... | smithie6 | |
10/9/2013 20:26 | Ive had a grind thru the paperwork.... interims, 15 month and acquisition imho - ILX ....ON ITS OWN is underpriced since making 1-1.6M PBT and financial status is actually fine/good.....deferr progress has been made....now that the 2 parasites have been kicked out...at last....and costs reduced....to help make the profits visible... - proposed acquisition is way OVERPRICED in terms of the shares being paid for it most of the acquisition has NO VALUE imho from an investors viewpoint it is in the interests of the MD of ILX that the acquisition is OVERPRICED.....since he is a large shareholder in the co. to be acquired !!! but it is NOT in the interests of ILX shareholders to over pay... the deal can be considered similar imo to the acquisition that FIF made of Lightbody a few years ago......at a crazy price...90p....sp then fell to 15p....the chairman wanted a high price...since he sold out in the deal !!! Pls read the msg. brd. ....negative aspects about FIF WARNING. imho this deal is similarly BAD for shareholders imho it is merely a poor business (the acquisition) obtaining a good business (ILX) for almost nothing...since ILX will be 40M shares and new acquisition will be 160M shares....ILX is 20% of the new total....despite imo being the best part of the combined company note that acquisition company reported a large loss in latest results ----- A new company where the MD will own or control approx. 86% of the shares.... is fundamentally a disaster waiting to happen. NO ONE wants to be a shareholder in a co. where the MD owns 86%...NO ONE. ---- The paperwork is a disgrace....and does NOT present the basic information that is normal for an IPO or reverse takeover. ---- I dont trust SPARK....the new company adviser ...so that is an extra -ve factor imo, where it has never been clear whether the co. operated for the shareholders or the benefit of the investment manager. A common story/problem with small London listed companies. eg. Spark investment mngr investing personally in UNLISTED companies where Spark also invested.....while that would be prohibited by rules of many investment companies. ----- DE-LISTING imho the MD Wayne Bos may well shortly after the acquisition....if enough stupid shareholders vote yes.....de-list ILX......and then buy up the shares of PIs selling up.at low prices...not wanting to be in an unlisted company. or double his salary.... and introduce large bonus package for himself... as majority shareholder he will win the vote ---- I urge all shareholders to consider to VOTE NO to the acquisition and all resolutions. imho a new price for the acquisition should then be proposed ILX should be valued at over double...ie. 8M pnds and 40M shares @ 40p...and acquisition should be valued at half 8M not 16M pnds...so 40M new shares would be needed and not 160M (but really need some info.... .the acquisition paperwork tells us almost nothing about co. being acquired (loss making and operating in low margin sectors.....not good for investors) in that case ILX shareholders would own 50% of the new combined company. not the 20% currently proposed ---- distributing two waz radios in Auz.....investment value is ZERO imo for that part of acquisition and hand made services to telecomms sector produces turnover but no profit...a lot of one off work...waste of time imo from investing viewpoint... VoiP ......bad sector imo. small margins. VoiP is free....Skype etc.....trying to charge on top and include much profit is difficult or impossible imo. recent large losses perhaps back this up NOTE. papers state that acquisition co. performance has been hit hard by fall in activity in mining sector in Auz. .....or is it because the competition are beating them !! | smithie6 | |
10/9/2013 12:36 | I am going to wait for hard copy to arrive. Presume thousands of pages long merger document......poombe | graham1ty | |
10/9/2013 10:20 | This doc has all the relevant info, including director renumeration and the accounts for Progility. hxxp://www.ilxgroup. Looks like they to have have also just had a year of restucture, with the promise of reversing losses of the last 12 months, on first browse, I must have missed what the restructure costs were? But revenue rose substantially, as did the losses. | poombear | |
10/9/2013 09:07 | Why is the severance pay of the Directors not shown in the table of their emoluments ? £239,000 was paid out, presumably mostly to Ken yet the Remunberation Report on p13 shows no payoffs ? | graham1ty | |
10/9/2013 07:24 | Have now seen his salary per the annual report £120k for a period just over 10 months. Cheaper than Ken :-) | 4lexandertg | |
10/9/2013 07:14 | On the upside, WB has a significant equity stake and interests are therefore aligned with ordinary shareholders (albeit I concede he has the convertible notes and warrants etc - and we haven't seen his salary yet). Quick analysis comparing the 12 month results with the 15 month results shows revenues for the 3 months to end June were £3.5m with operating profit of £410k. That compares well to the previous 12 months - revenues £13.5m and operating profit (before restructuring) of £500k. If the £400k operating profit can be maintained, then even using a basic 5x EBIT multiple the existing business should have an EV of £400k x 4 x 5 = £8 million - subtract net debt and deferred consideration and the share price should still be 20p. | 4lexandertg | |
10/9/2013 07:02 | Agree poombear............ | graham1ty | |
10/9/2013 06:33 | Quite a bit to digest today. Bottom line is what is going to happen to the SP?? No time this morning to go through the reverse takeover. | poombear | |
26/6/2013 09:16 | poombear. The bad news is WB is out to make as much money as he can. The good news is that shareholders might benefit a little from new blood, new ideas and slashed costs. I hate it when a CEO can be compensated out of all proportion to the size of the business. However, it does mean they work bloody hard to get the share price up. I wonder how his new colleagues ( sorry, those that have not been sacked)views his compensation. Will so many leave that it undermines what is left ? | graham1ty | |
25/6/2013 07:59 | No comments here on last weeks results (Which I only spotted today!) and todays aquistition, stil a recovery in progress, watching with interest. Could be a very nice recovery play. | poombear | |
12/6/2013 15:21 | ...a justified rant against KS (and JP ) imo AIM and LSE need to change....to make it easier for shareholders to call resolutions to eject dirs......and more rules to make it harder for dirs. to award themselves bonuses etc...and tighter rules on perf. reqts. "stop diluting the capital" sadly that is not happening. new MD has a loan which is convertable to shares....and warrants attached as well.... !! if there are any loan notes attached to the warrants attached to the convertible loan...I'm not sure ! ---- the dilution level at some companies to dirs. who issue themselves massive option packages.....terribl tales you lose (dirs. still get good pay, expenses, co. car etc heads they win.....due to options etc. | smithie6 | |
11/6/2013 13:24 | A few of us have been returning to warn investors about KS and pals for the best part of 5-10 years. In the end the doomsday prophecy was all true and while it gives me no satisfaction to see that other small investors will have wiped out on this, it does give me a tremendous amount of satisfaction to see that Ken will now be focussing on his "Other business interests" ie. being unemployed, and all the banks who thought they were getting a once in a lifetime chance to get one over the market and get placings 20-30% below market price all the way down the staircase all got shafted massively... Haw haw! Good riddance KS and pals. I trust that Karma and/or your ineptness with finance will ensure you will soon be relieved of the £4million+ you fleeced from investors in this slow-motion bank job. If that dances along the line of defamation let me just clarify by saying that I do not believe KS is a crook, he is merely HBS's worst ever graduate who must have missed the classes on how capital works. His only barometer of success has always been turnover and the number of businesses within his umbrella, no matter what price the finance is. It is absolutely astounding to me that he has been allowed to carry on running this business the way he has done for almost a decade without being kicked out by the major institutional investors and banks who kept enabling him to return cap in hand. If he was running a bank he would be in the headlines without any question in my mind. We see CEO's of banks being stripped of their bonuses and knighthoods for failing to predict what few people could have predicted, and then there are worms like KS who follow an obviously reckless strategy, slowly run a business into the ground and then stroll off with millions of pounds. It makes me sick. In his own little world KS still believes he presided over a massively successful dynasty with sales up by X-hundred percent, headcount up by X-hundred people and the latest acquisition showing great turnover growth since he acquired it, yet he will still be selectively ignoring the 99% loss of value inflicted on investors and all the businesses he has acquired in the past which were merged into (or "flushed down") the rest of his business. Their departure may make this a BUY now as it surely cannot go any lower with a CEO with half a brain running it, just strip out the unprofitable arms and stop diluting the capital... however cost-cutting measures such as not mailing brochures to shareholders are more worrying than encouraging for those thinking of taking a gamble (KS took all the paper and stamps with him or what?). Good luck to the brave investors who dare to touch this with a bargepole in the future! | rarther |
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