Image Scan Share Discussion Threads

[clocktower] 05/9/2018 12:42

Buyers returning and this blip will soon pass imo, even though it may directly or indirectly had an effect on the company profits going forward.

Target 6p

[trident5] 04/9/2018 23:15

Hi Assagai
Mine are in a nominee account - voting in any case would be rather irrelevant as the result would be defined by just one shareholder.
I agree with the outcome - the purchase was too dilutive for me, and the base case for growth by acquisitions is not good.
And capable management should have not have got themselves into this position.

I suspect that there will have been a big cost in both time and money at a time when the company should have been concentrating on getting its house in order and driving some organic growth. Forecasts are for £250k profit this year - I doubt we'll see that after this.

[assagai] 04/9/2018 19:05

Hello Trident, do you hold any shares in IGE? Just wondering because If you do you didn't vote against this deal....

[trident5] 04/9/2018 18:42

Any mention of how much this fiasco has cost the company?

[assagai] 04/9/2018 18:21

Monty, in the interest of clarity, RS is not voting on behalf of nominees.. Just one.

[paleje] 04/9/2018 16:20

Thanks monty.

[clocktower] 04/9/2018 16:00

Regardless, I think it will soon be back up to 6p.

Good luck.

[monty68] 04/9/2018 15:46

Paleje

Yes I did, and the meeting, though disappointed mainly because of the work put in by the Board, was very positive.

Bill will, I think, follow up any chance with Todd whose range is very complimentary. They have also new products to bring to market.

Clocktower
Your are using the plural not the singular. It is "stakeholder" not "stakeholders"
Percentages mean nothing when one large block votes as all the nominee accounts dont vote.
If you wanted answers to your questions you shuold have come to the meeting where such matters were discussed

[paleje] 04/9/2018 15:42

Not much coat in cash terms and I think no reputational damage from customers' perspective. But it's costing us all in terms of loss of additional earnings which we would have had if the deal had gone through.

The share price was knocked disproportionately by the cancelled order and then by the discounted placing, which admittedly seemed a bit clumsy, anger selling. But the cancelled order has been handled well and the placing no longer an issue.

Back to fundamentals, a good company with good products and management moving into a new profitable FY in a few weeks time. Selling's way overdone imo.

[assagai] 04/9/2018 15:39

Clock tower, in my view that57% figure is quite misleading. With RS registering a no vote it would have required almost total collection of all shareholders proxies /votes which including minimal holdings would have been almost impossible to achieve. I personally know several holders of this stock and at least two didn't even know there was a vote due. Why would the Board waste peoples time whipping in votes if it could not achieve the result. Those that did vote chose to be proactive anyway.

[clocktower] 04/9/2018 14:57

What will this aborted deal have cost the company?

How long will it take to recover and how do you think the management feel about their shareholders not supporting them?

[puffintickler] 04/9/2018 14:52

"Is the company just to plod on without a real plan to grow the company other than organically?"

Fine by me as log as they generate a good return for shareholders.

And no, I do not think that any of the board should resign.

[paleje] 04/9/2018 14:46

You attended monty?

So where does it go from here. Can they structure a deal so as not to upset Rise Step, whose gripe was apparently the amount of dilution not the business logic.

Bill says they're confident in the product range and will continue to drive forward by other means. He doesn't seem like the sort to give up.

[clocktower] 04/9/2018 14:46

monty68, Over 57% of the votes cast, voted against the deal due I expect to the dilution. If I were on the BoD I would resign if I was unable to get backing for proposals that I thought were in the best interest of ALL stakeholders.

Is the company just to plod on without a real plan to grow the company other than organically?

I was not knocking the BoD but if that is the way stakeholders felt, then I would have resigned.

[monty68] 04/9/2018 14:34

Clocktower

I have been in this company from the start.
This board has made great progress in the last few years and has revived a almost dead company. One cancelled contract which caused a share fall out of all proporotion to its actual significance, an over blown problem with a logical share disposal and general market conditions have caused the current share price.
The deal made perfect sense and Rise opposition is unfortuneate and unforeseen.
The meeting thanked Bill and the board for the work they had put into the deal and regreted it had not come off.
I am sure we will see continued progress, but this just makes it harder.

[assagai] 04/9/2018 14:09

The Board should resign? Then we'd have no Board....classic!

A minimal knowledge of company practice would reveal why the meeting had to take place today.

[trident5] 04/9/2018 13:07

AGM was in February
This was a GM
I'd be really happy if I'd attended the completely pointless exercise.

[clocktower] 04/9/2018 13:04

The Board should resign.

[knownowt] 04/9/2018 12:58

Because he had to! The law doesn't allow multiple postponements of an AGM.

[trident5] 04/9/2018 12:34

Why did Mawer go ahead with the meeting if he didn't have First Step on side?

[monty68] 24/8/2018 11:42

See you all there!!!!!!!!!!!!!!!

[assagai] 23/8/2018 20:06

That's a confucian confusion...

Apologies to Lao tzu...

[trident5] 23/8/2018 19:43

Every journey starts with a first step.