Image Scan Share Discussion Threads

[lfc4ever] 04/3/2014 09:09

wtf?
not invested here, but keep an eye on it- what happened yesterday? is someone going to turn the lights out on the way out? no CEO and no chairman- rudderless ship? someone said "draw a line"- who there to do the drawing of the line?

[amt] 04/3/2014 08:16

Look at Ultrasis to see what can happen to share price after such an event.

[philjeans] 04/3/2014 08:06

IGE floated too early and has always suffered from a lack of capital. If we get new directors with some big cash backing, this little business could grow very quickly and profitably.

I have held since the float at 35p and have been adding every time we got down to a penny or two.

It's not a cash shell yet - but it could be very attractive to another business seeking a quick entry to the market.

[dan de lion] 04/3/2014 07:59

Well whoever did not like Louise George obviously had the backing of enough shareholders to vote her off, why, who will take over, one assumes that they had some sort of plan, when will the rest of us find out what the score is, this can only be the start of whatever is happening.

[puffintickler] 04/3/2014 07:47

Did anyone go to the AGM who could give us a bit of the inside story?

[puffintickler] 04/3/2014 07:46

15 minutes until we see what the market makes of it.

[puffintickler] 04/3/2014 07:45

philjeans

IGE is more than a shell, they do have real products and real customers. If they sell the business I hope it will be as a going concern to integrate with a larger outfit. That might make sense.

[longsight] 04/3/2014 07:43

stockonomist & puffintickler

thanks both of you for your responses.

I'm interested in the area - just a case of finding time to research

[puffintickler] 04/3/2014 07:42

Erogenous

The trouble is it may be very expensive to change the management, IGE have not got much cash, it is all needed to fund the business. My fear is that director redundancy packages and new incentive schemes may leave little to do that let alone to reward loyal shareholders.

We shall see.

[philjeans] 04/3/2014 07:37

Could be a nice shell vehicle for a business wanting an AIM quote - big tax losses here and a little business with a tech basis and no debt.

Clearly institutions want some more action here - I'll be holding on to my 1M plus shares until the smoke clears. Could be a nice bounce coming.

[puffintickler] 04/3/2014 07:36

Hi longsight

I have been with this lot for a while so should have the knowledge you require but I have been rather lazy, just following the financial reports in detail but not much else. It has been a bit of a surprise to me that they have survived so long as an integrator, I had expected they would get taken out or go bust before now.

I will be taking more of an interest now!

I think it's a little harsh to say they have failed to commercialise their tech but certainly they have failed to adequately commercialise their tech. My feeling is that as they are a small player in a very competitive market they are at a disadvantage and also constrained by cash considerations to take contracts that do not make money but keep things just ticking over (eg the nuclear one).

A change in management may be justified but I was not pushing for one myself.

[puffintickler] 04/3/2014 07:27

For info here are the resolutions voted on at the AGM (shortened). Nothing controversial.

1 To receive and adopt the financial statements for 2013
2 To re-elect V J Deery as a director
3 To re-elect L J George as a director
4 To receive and adopt the remuneration report
5 To re-appoint Wilkins Kennedy LLP as auditors and to authorise the directors to fix their remuneration
6 To authorise the directors to allot new ordinary shares
7* To disapply pre-emption rights

[longsight] 04/3/2014 07:27

puffintickler

apologies for asking this but clearly you have familiarity with IGE, can you direct me to a decent synopsis about the Co? Superficially it seems that they have some interesting tech esp given the value of the target markets. Why have they failed to commercialise thus far & do they have a plan of how to commercialise?

stockonomist, I am aware of KMK having a holding there. thanks

[puffintickler] 04/3/2014 07:14

Well, I didn't see that one coming. It was odd not to have an AGM trading update but I didn't expect blood on the floor. What happens now?

It might be a good idea to prepare for the worst even while hoping for the best. The trouble here may be someone wants to take over the company on the cheap or there may be a long and costly power struggle.

I am guessing that with such a small company the regulars here may hold a significant proportion of the shares. Not a controlling interest but perhaps enough to make the difference if we are organised. We should perhaps find out what proportion we hold and discuss what to do with it.

[gnnmartin] 03/3/2014 23:51

I hope those who voted against Louise have a decent plan. In 2011 when Louise was last up for re-election she was voted down, but there was a GM to re-instate her. I hold just over 1% of the shares, and I don't usually vote unless there is an issue on which I have a strong opinion. Last time, I tried to find out if those who voted against Louise had any plans, but got no feedback, so I voted for Louise at the GM.

I guess this time round Louise & the board felt they had struggled against opposition too long, and perhaps their confidence is waning.

Sadly, I couldn't go to the AGM today. I would have if I could.
Nigel Martin

[stockonomist] 03/3/2014 23:17

longsight

I don't think they have any technology themselves they are just an integrator / distributor of other technology ?

Otherwise you'd think any patents/IPR in this field would have considerably more value than has ever been accorded to this Company.

Just look at Kromek as a comparison.

[dan de lion] 03/3/2014 23:08

That is virtually a clean sweep of the existing board, who organised that and why, who is going to replace them?

[amt] 03/3/2014 22:39

Interesting that the share price didn't go down much so perhaps no bad news. could there be a takeover on the way.

[pat dunk] 03/3/2014 21:00

philjeans I would read the RNS that the shareholders at the AGM have voted Louise George off the board and Brian Emslie and Nick Fox have resigned in protest?? but that is just my interpretation. Presumably Assagai knows what is going on as he has some 7% of the company i believe? Don't know if that is good or bad news, I suppose it depends on who replaces them and whether this was foreseen by the shareholders that voted Louise off??

[jmf69] 03/3/2014 19:02

I'm hoping they'll provide an explanation first thing tomorrow