Imagination Technologies Share Discussion Threads

[dins1249] 20/7/2017 14:36

It is indeed looking that terms have nearly been agreed and these cannot be any less than £1.75

[theyak] 20/7/2017 14:34

Here it comes, hopefully the first shot!

[dins1249] 20/7/2017 14:10

One can say whatever but as far as action goes share price is about 50% up from Apple announcement in April. That says a lot.

[borromini1] 20/7/2017 12:00

Apple would be damned for selling their existing holding and damned for buying more shares, it is least controversial to keep their existing shares as is, leave IMG to sort out their future and Apple get on with their own GPU implementation. Apple being forced to give up their shares along with everyone else in the case of a successful buyout completion is their simplest route of exit. Otherwise Apple will sell them after proving their own GPU and securing its patent support.

[hammerd2] 20/7/2017 11:49

borromini you care about the question and possibility of a rights issue, I don't. I'm only in for another couple of weeks max. I'm not one for posting when I'm not holding so I won't be posting again once I've sold.

[rob_evans] 20/7/2017 11:35

Of course 8% isn't a blocking stake.

It is an indication of intent by Apple - they will not let anyone else buy IMG.

If it were otherwise, Apple would have sold their stake by now.

[flatoutfred] 20/7/2017 11:22

No doubt there are other companies in the fray such as Broadcom, Qualcomm, Intel etc. but would they buy if they are effectively burning there bridges with Apple ? Apple on the other hand will probably go it alone and tough out the impending legal action IMG bring against them. Yes they have 8%+ but its a very small amount in the bigger picture and not enough to block anything

[borromini1] 20/7/2017 11:00

Hammered2 - your use of uppercase lettering in 28087 and 28089 inspired me to respond in a similar way in 28094, your response in 28095 brings to mind that Icelandic proverb about the smell of your own farts.

Hammered2 may I suggest you take a look at how rights issues are formulated and get back to us with your considered view rather than making out that others just make up figures.

[hammerd2] 20/7/2017 09:54

Yet despite everyone in the known universe knowing Apple hold 8.11% of available shares, according to the Board on 22 June they had "received interest from a number of parties for a potential acquisition of the whole Group". Did these parties not realise ?

Or maybe they'd been subjected to Men In Black style zappers.

[hammerd2] 20/7/2017 09:49

Yes I AM. I don't think I hid THIS. Not sure WHY you feel the NEED to highlight certain WORDS in this FASHION. IF any of the existing major SHAREHOLDERS had been APPROACHED prior TO the sale BEING announced then it is likely THEY would have jumped AT the chance of getting a bunch OF shares at your proposed (made UP) 90P level. I'm not saying it's not an option just I think it's a highly unlikely one.

IMG MANAGEMENT ARE incapable of running a P!SS up in A brewery, let alone a major international BUSINESS. There is no APPETITE for not selling THE business from them or INSTItuTIONs.

[borromini1] 20/7/2017 09:10

Hammered2 - the company IS trying to work it's way out of a potentially rapidly changing predicament, a rights issue IS a standard way for companies to raise funds in such situations, hammered2 IS on this occasion only interested in short term gain and hence IS hoping for a quick bid, any bid or event that produces an share price gain no matter how temporary, but the realistic option for a sensibly crafted rights issue IS likely to reduce that prospect of a bad bid being accepted by the majority of the shareholders and management. IMHO it helps to map out a standard option especially since management have not disclosed their analysis yet.

[nicandy] 20/7/2017 08:54

But 92% of shares are not owned by Apple?

[rob_evans] 20/7/2017 08:53

Apple took an 8% stake in IMG to discourage any other company from bidding for them.

Apple retains an 8% stake in IMG to discourage any other company from bidding for them.

[freddie ferret] 19/7/2017 17:22

Apple are holding because they think it is a good investment.
Only they know why they think it is a good investment.

[theyak] 19/7/2017 09:15

Agreed, they would have considered a rights issue before the sale announcement, so pointless discussion. We've had a few over the years! So can't have been the answer for the current state of affairs!
Hopefully a starting bid within the next few days.
THEYAK

[hammerd2] 18/7/2017 23:25

There is currently no IMG rights issue on the table so why debate the ifs and maybes of it ? The company IS up for sale. Diluting Apple's shareholding if they tried to block anything may be possible but may be outside the rules, I will leave that to more knowledgeable heads to consider, but I'm certainly not going beyond what is currently on the table. My only reason for getting back in was for a punt on a takeover bid which I've never been 100% convinced will happen. It's a spin of the wheel on a little over 30k shares. It'll work or it won't.

[borromini1] 18/7/2017 21:54

hammerd2 - 28077 Imagination Rights Issue forces an interesting binary decision from Apple, accept dilution of their holding or pay money to IMG to maintain it.

[hammerd2] 18/7/2017 18:57

Or they may want to consider why people are still posting when they think the company is going bust AND that there will be no bid AND they hold no shares. Baffling.

What are Apple going to do with 8% ? It's not quite enough to block anything and if they did raise their stake the resulting rumour mill overdrive would propel the share price high enough for everyone to be able to happily bail out.

[freddie ferret] 18/7/2017 17:37

Good post.

[rob_evans] 18/7/2017 17:27

All those eagerly waiting for a bid to appear might want to spend a moment wondering why Apple is holding on to its 8% stake ...

[hammerd2] 18/7/2017 13:30

Logic would dictate that either the sale price will be somewhere between here and 170 or it won't happen then I guess Ian. We're a little over 10% up on where we were. A 30% uplift would not be an unreasonable markup on a normal sale but with IMG of course normal is rarely an applicable adjective. It's pretty clear that major shareholders (minus Apple) would have been consulted - and gave their approval - prior to the sale being announced so it's going to happen one way or another but it's unlikely that anyone would accept less than today's price unless further deterioration of ongoing trade is evident. How licensing is progressing since 22 June is going to be very interesting to hear about, and please let's not hear any nonsense about how gangbusters FY licensing was as it is barely back to what it was in 2013 and I would bet a vast amount that it has all but died in the last month.

[twatcher] 18/7/2017 12:35

Coming close to a month now since the announcement. The share price is pretty much in the same place as it was on the day the sale was announced.

[borromini1] 17/7/2017 22:10

Orkney - 28077 Imagination Rights Issue if taken up provides an extended time frame to determine the right course for the company. It would reassure employees that in the companies time of need investors can constructively assist. It will not deter good bids for parts or the whole company, it would reduce pressure on the IMG board and shareholders to capitulate.

[borromini1] 17/7/2017 20:36

GerdMuller - 28077 Imagination Rights Issue dilution is only 16.67%