Image Scan Share Discussion Threads

[owenski] 21/9/2018 10:40

As said, the dilution part, the actual dilution was awful - fact

And taking on a loan too, very poor judgement.

[pru dent] 21/9/2018 10:32

The dilution was minimal most of the acquisition was by loan note. Those are hard facts. Again she was not against the acquisition in principal just the petsonal dilution, fact.

[owenski] 21/9/2018 10:27

Indeed, the dilution was awful

[owenski] 21/9/2018 10:23

If someone was offering you a good deal that made sense for a business that you were invested in, you wouldn't refuse it.

Yet RS did, frankly when they announced the Acquisition I thought it was a bad idea.

Revenues are lower for this year and they will make a loss, without this hiatus they may have made a small profit or breakeven. Not the right time in recovery for a minnow stock with small end markets to start splashing out.

Very bad move from IGE and RS were right to block it.

[pru dent] 21/9/2018 10:23

Diver, she wasn't against the transaction at all, just the share dilution.

[trident5] 21/9/2018 10:18

It was noticeable how quickly TR's accounts for March 2018 were filed at Companies House - evidently the transaction was being looked at some time before the announcement.
Supply 999 look like they could have done with the cash too - their b/s looks weak.
Bullet dodged.

[diver999] 21/9/2018 09:45

Does anyone have any background on the Todd acquisition ?

Todd are an old established company but appear to have been subsumed into Supply 999 Holdings around 8 years ago, when they were made dormant with negative NAV. In 2017 they were resuscitated - clearly IMO in anticipation of this sale - by having part of the Supply 999 business transferred in. At the 2nd balance sheet date of the revived business, the deal popped up. This all seems a bit creative to me.

This took me all of 10 minutes and a bit of scepticism to put together. Maybe RS did the same, and didn't like what they saw ? I don't really have the time to research further, but maybe someone else could take a look ??

[assagai] 20/9/2018 13:09

Well you would wouldn't you!

[trident5] 20/9/2018 13:07

I'll second that.

[mr macgregor] 20/9/2018 12:46

"no logic, just doing harm."

I think that's utter tosh. You'll find people out to move a price one way or another on advfn post with a bizarre frequency that suggests they're either of unsound mind or else have sufficient financial interest to make them think it's worth spending the time. Anyway, it seems to me the company doesn't need any help in undermining it's reputation.
The series of events referred to by diver999 is that the board issued a series of positive updates, the share price soared, Boundary Capital, a company in which two directors had a declared financial interest, sold out, the board issued a chain of negative updates and the share price slumped.
I consider, perhaps wrongly, that my negative opinion on the chronology has logic and I'm not sure why you're so worried about opinions that differ from yours. I'm not worked up about your positive opinion. You're entitled to it.

[trident5] 18/9/2018 14:41

Kool-aid anyone?

[assagai] 18/9/2018 14:14

Monty yes you are bang on. We just have to realise that there are a few posters for whom that is the sole objective.

[monty68] 18/9/2018 12:49

Diver-Boundary was NOT "a mess" just a logical adjsument explained at the time.

I think I am going to stop reading this BB,just depresses me, no logic, just doing harm.

[diver999] 18/9/2018 09:37

Still haven't forgotten the Boundary mess at start of year.
Assagai - we all know you have a very long association with the company and your loyalty is admirable, but even you must have moments of concern

[owenski] 18/9/2018 09:07

This was a disaster and blotted IGE's so far successful turnaround, they should've just concentrated on partnerships and increasing organic growth before going down this dilutive acquition route. It was good to see it blocked and clearly the market is not impressed either way.

I'm wondering if the end market is just not that big anyway and IGE will remain a minnow.

[clocktower] 18/9/2018 08:26

Imo, the BoD will struggle from here, it is hard to get up when you have taken such a costly knock.

[assagai] 18/9/2018 08:12

Kazoom, no I certainly wasn't!
In reality, it seems the only issue blocked with any regularity is issuing more shares for reasons now known. I don't forsee any other issues that need be. In any event there is significant support among the other major shareholders fot the general strategy going forward.

[kazoom] 18/9/2018 00:05

Not sure if you're including me on the 'suspects' list here, but honestly there is no agenda here from me.

I'm a former and possibly future shareholder just telling it as I see it. I've been around on ADVFN (off and on) for a lonnnngg time and I think me record speaks for itself, I don't do ramping or deramping.


And yes Assagai, I agree your correction to my point. A 22% shareholder can't for sure block a vote that only requires 50%. But if it is going to be a contentious vote anyway that is a heck of a headwind.

Actually though I still stand by my view that she PROBABLY wasn't given sufficient facts before the event to give a clear ok to the proposed fund-raising.

Looking back to the AGM, the two resolutions to allow the board to allot new shares were voted down, I wonder by whom? These are bog standard resolutions that almost every company passes every year on the nod.

So, my take on this is that, for whatever reason, this shareholder does not want to see dilution. IMHO the board failed to address this.

To be frank though, as I alluded to before, the idea that the Board made a mistake - that they can learn from - is a more positive view than to think there is a significant antagonistic shareholder with significant influence.

Just my thoughts and I don't intend to say too much more on the subject.

A share price of 2.9p and a market cap of less that £5m may well be a massive bargain, so I do wish all holders well. I have adapted my strategy over time and now look for clearer evidence that any 'issues' have been resolved, which probably means that I might end up paying twice the price (still below where I sold). But I do know from painful past experience that if another piece of bad news goes against the company, stupidly cheap can become insanely cheap.


I sincerely hope that is not the case here - I would not buy at half the price if the story was worsening, but might buy at twice the price on clear improvements.

Clearly there are rampers and de-rampers about on these boards, but there can also be honest views which might challenge your own - it's always worth reconsidering your views - I have found that hard too, but hey, it's all about learning.

Best to all.

[assagai] 17/9/2018 20:43

And there is one of them!
Not you Monty..

[monty68] 17/9/2018 17:58

We all know what happened.
No doubt evry one would have done better, especially with the benefit of hindsight.
But we live in the real world, so grin and bear it and hope for better things if you believe, as I do, that this comapny and itsd management, has a great future.

[trident5] 17/9/2018 17:47

Wow - share price down 75% and we're all supposed to cheerlead the management as they lurch from one self-imposed crisis to another.

[assagai] 17/9/2018 17:28

Hi Soj, one or two with very odd agendas!

[sojourno] 17/9/2018 17:07

A couple of anti posts here read like fakes.

[monty68] 17/9/2018 15:46

Sojourno

Hear Hear IMHO