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IMG Imagination Technologies Group

181.25
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Imagination Technologies Group LSE:IMG London Ordinary Share GB0009303123 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% 181.25 181.50 181.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Imagination Technologies Share Discussion Threads

Showing 42651 to 42671 of 43000 messages
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DateSubjectAuthorDiscuss
26/9/2017
10:21
Costs them $13m if they do 🍾
hammerd2
26/9/2017
09:53
I was about to comment on that Ian. Hope CB didn't start buying then change their mind about the bid. 😀
jamesrowe
26/9/2017
09:51
Tell me about it SRSM - it beggars belief doesn't it ? That IP alone seems worth the sale price. All the HY talk years ago about how vital Vision IP would be is all coming to pass too and the neural net stuff is in with bucketloads of that too.

'It's men against boys' - very true, unfortunately the boys have taken their ball home !

hammerd2
26/9/2017
09:40
That citigroup RNS says they are acting for CBFI. As well as buying 5M, they also sold 3.6M ?
twatcher
26/9/2017
09:13
Gone almost unnoticed due to financial excitements.

Neural Networks now part of the mix.

Heartening to see a bit of swagger from IMG. And a willingness to mock the competition.

PowerVR Series2NX.

And this

"Recently a smartphone manufacturer announced that its hardware used to enable face detection for unlocking the phone offered 600 billion operations per second. A single core of our initial PowerVR 2NX IP, running at a conservative 800MHz, can offer up to 2048 MACs/cycle (the industry standard performance indicator), meaning we can run over 3.2 trillion operations a second – twice our nearest competitor... it’s men against boys.".

I assume this means 5 times faster than the "smartphone manufacturer" and 2 times faster than another rival.

The former is of course Apple.

"performs up to 600 billion operations per second"

I doubt that Blog post would have been written like that a few months ago. So much potential with this company.

It's got to be worth way more than £550M to the likes of Google. Who paid $3.2Billion for Nest - for an almost useless thermostat.

srsm
26/9/2017
08:51
The price is rising nicely this morning. If it goes above 182 then it will be getting interesting....
jamesrowe
26/9/2017
08:48
It appears that:
a) IMG expects to get royalties for all Apple products launched before 30 June 2018.
b) The settlement resulting in a special dividend excludes any amendment to existing licenses with Apple.
c) The settlement resulting in a special dividend excludes any new licenses purchased by Apple.

Therefore, I can only assume that the legal action that IMG is pursuing against Apple, and thus the settlement that might result in a special dividend, relates only to damage incurred to IMG's business due to the assertion by Apple that it would not need to pay royalties in future to IMG becuase it had designed its own graphics solution???? (Does anyone have any different views?) I would have thought that the chance of IMG being successful in getting anything out of Apple within the required timescale for payment to shareholders is vanishingly slim!!

"As announced on 3 April 2017, Apple informed Imagination that it expected that the chips in Apple products launched at some point in 2018 or early 2019 would not require Apple to pay Imagination royalties."
"New Licensed Chip Products" means any new products launched by Apple Inc. after 30 June 2018"
"5.8 The Additional Payment will not be payable in circumstances where, save as
otherwise agreed:
5.8.1 any new agreement for the licensing of products of the Target Group is
entered into by Target and Apple Inc. after the date of this Agreement; and
5.8.2 any variation is made to any terms of any existing agreement between Apple
Inc. and Target, excluding any new agreements or variations to existing agreements that are entered into as part of the settlement under which the Settlement Amount is payable."


If Apple agrees to settle but does not pay up within 90 days than it would appear that CB will pay shareholders from Imagination's distributable profits which could presumably significantly limit any dividend.

"Any Settlement Return would be conditional upon (i) the Settlement being reached by the earlier of 60 days following publication of this Announcement and the date the Acquisition becomes Effective and (ii) receipt of the Settlement proceeds by Imagination within 90 days of such settlement being reached.

If the Settlement occurs on the terms set out in the preceding paragraph, but Imagination is unable to fully implement the Settlement Return prior to the Acquisition becoming Effective, CBFI and Canyon Bridge have agreed to use all reasonable endeavours from the Acquisition becoming Effective to ensure that Imagination takes such steps as may be reasonably necessary (if any) to implement or complete the implementation of the Settlement Return (subject to Imagination having sufficient distributable profits and subject to all applicable law)."


I don't understand the following as it appears to suggest that CB can amend the acceptance condition percentage from 90% if it decides to pursue a Takeover Offer instead of the agreed Scheme:

"CBFI reserves the right, subject to the terms of the Cooperation Agreement and subject (if required) to the consent of the Panel, to implement the Acquisition by way of a Takeover Offer for the entire issued and to be issued share capital of Imagination as an alternative to the Scheme and to make appropriate amendments to the terms of the Acquisition arising from the change from the Scheme to a Takeover Offer including, if the Panel so agrees, an acceptance condition set at up to 90 per cent. of the shares to which such offer relates or such lesser percentage, being more than 50 per cent., as CBFI may decide), so far as applicable, as those which would apply to the Scheme."

jamesrowe
26/9/2017
07:42
You are right, ARM should do exactly that, put up or shut up!!
exlogicalad
26/9/2017
06:31
This article about Arm being a white knight but only if it gets something for nothing is complete bs. IMG has a future on its own in the worst case. Also I see no reason why a regulator would block this deal when it didn't block the takeover of ARM which is in a different stratosphere of strategic importance. ARM should put some money on the table or shut up
dealy
25/9/2017
19:49
H2 - good spot, I posted a couple of weeks ago that we may get royalty payments for the A11, I had an inkling from the information I read regarding performance and compatibility with previous product range that Apple were still using some IMG IP. I think if/when they introduce a chip that's "all theirs" I think they will make a much bigger noise about it.

DPMCQ - 14 Sep 2017 - 09:28:27 - 28489 of 28795 IMG - 1Billion Chips Per Year Within 5 Years, Via Apple Intel Sony Android etc - IMG

I would not rule out completely royalty payments from the A11 at this point. I see what has been stated about the new design but have they stated they have used no building blocks from IMG IP within the new A11.

Now where's Crystal Balls with a few snippets ;-)

dpmcq
25/9/2017
19:29
- Post April purchasers profit taking.
- Fed up pre-April holders finally bailing out.
- Massive but not massive enough number of fast moving cash holding investors.
- Possible geo-political catastrophe aka war.
- Cross-party historic vacuum in UK political nous on anything to do with tech.
- Etc, etc.

borromini1
25/9/2017
18:49
A company with the resources and clout of Apple would only sell their holding in a company they own a large stake in for the purpose of 'window dressing'.

I find it hard to believe but if Apple did sell any of their IMG holding today it is for the purpose of keeping arms length from the Chinese and you can be sure the buyers are under Apple's control.

Sales at well under the 182p will shake a lot of sellers out, who knows where those millions of shares sold today are sitting tonight. I am holding on, this now could be an interesting takeover with someone else fronting, waiting to strike.

exlogicalad
25/9/2017
18:49
Amazing day, share trade volume ends up as 45.6m, the appetite for getting out and to a lesser extent getting in was phenomenal. My trades - big fat zero, slightly mesmerised watching it unfold. We'll see the debris of change in the following days RNS.
borromini1
25/9/2017
17:51
Touche - I'm not sure why on earth anyone thinks there is the possibility of Apple settling their dispute with IMG either ! But it may be something to do with the limitless deep pockets of the Chinese government (they tend to think more long term than most shareholders) and their ability to do what the hell they like in terms of shutting their borders if and when it suits them.

However, the sale agreement says something along the lines of no special dividend is due if it is a result of a formal new agreement between IMG and Apple or a variation of the existing agreement to settle the spat, implying that any settlement must be agreed in terms of the agreement currently in place.

Now this, of course, could end up meaning that IMG get to share the goodies with us (I'll believe we'll get a good deal on that clause when I see it) or CB end up reaping the longer term rewards of Apple coming to an agreement on what their all new GPU is really based on.

hammerd2
25/9/2017
17:28
Exaclty timbob - I wondered if anyone would notice :-)
hammerd2
25/9/2017
17:16
Good spot Hammerd:

""New Licensed Chip Products" means any new products launched by Apple Inc.
after 30 June 2018;"

So Imagination fully expect to receive royalties on iPhone 8/X and it appears Apple always expected to pay IMG royalties on iPhone 8/X despite Apple's "Designed By-Apple" marketing bluster.

timbob2000
25/9/2017
15:34
Bluteam -give it a rest, you are embarrassing.......and filtered

S

sweenoid
25/9/2017
15:22
Why would there be a possibility of the MIPS sale being blocked ? It's "American" (it isn't) and being bought by American (they are) VCs.

csmsdmdfkjsd - "if you had launched takeover for this at 182 and were serious you would be buying everything up now and saving 50m in the process"

They haven't done that because they can't do that (as per the agreement documents. Which are all available for perusal).

hammerd2
25/9/2017
15:10
I'd really recommend reading - even skimming - the detailed documents on the takeover.

Certainly appears to give some insight into whether or not IMG IP is in the A11.... :-)

hammerd2
25/9/2017
15:06
you watch this move up near the end and await at close the big buys being shown.
blueteam
25/9/2017
15:03
If there is a possibility of the MIPS sale getting blocked and if CB really isn't concerned about how much it gets for MIPS then surely a USA management buyout or failing that shutting MIPS down would solve the problem?
jamesrowe
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