Impax Asset Management Share Discussion Threads

[yas0] 23/11/2003 15:16

i spoke to Nigel Taunt, MD, who indicates that the company is not aiming to raise it's profile to attract retail investors. However he seemed to satisfied with the way the company was moving in its drive to get interest from institutional investors.

[yas0] 17/11/2003 20:17

No sign of any news at all.......frankly this is getting a little dull.

[cockneyrebel] 12/11/2003 16:11

Not currently holding - bought but sold when I thought the market might go boobs up a month or so ago.

Don't really know what to make of it really - chart remains a bit too dormant for me really but keeping an eye on it.

Think a lot of others have jumped ship too.

CR

[yas0] 12/11/2003 16:01

Mart,

I think you are right. There is hardly any trading volume, and frankly selling a sizeable amount is not possible unless things start moving.

Do you have any recent research or news on these??

cheers in advance

[mart] 10/11/2003 12:47

Nobody much seems interested in this co. Too much happening elsewhere I guess. CR, you still in this?

[mart] 23/9/2003 09:57

Added 90K.

[mart] 18/9/2003 10:32

Ok, I've convinced myself this is a worthy (!) cause and have joined you with 10K.

[mart] 18/9/2003 10:22

Seems really promising. Like the fact that they are involved in PVMTI - Photovoltaic Market Transformation Initiative.
Are any of you into IEM?

[mart] 18/9/2003 09:55

Funny how you find the same people digging around looking for value and trying to avoid rampers :-)
Anyway, this looks interesting. Going to do some research. Also like the IDEA of IEM, which has a graph to die for, and sounds green. Notice the Bank of England pension fund just bought some!

[egoi] 01/9/2003 00:42

Joined you on Friday. Even assuming FULL dilution (not likely till 2006) after repayments, would have, no debt, market cap 4 million assets 4.8 million plus 1 million cash. Gotta be cheap, with the chairman being bullish in the last statement. Looks very promising. Also the chart appears to have bottomed and this one has so far missed the rally. And I think the underwritten placing transforms it from a company going nowhere to one with prospects. The new recurring income will help the bottom line too.

[cockneyrebel] 26/8/2003 11:26

Grabbed a chunk on Friday - I sense there's something going on here and further rises today I see.

CR

[rambutan2] 23/8/2003 00:06

but remember that current mkt cap not taking into account all the cnvs to be issued which will represent 60% approx of full dilution.
also, the recycling fund only £5m, so cant see that it going to have much of an effect on fee inc. after paying off debt will have approx £1m cash left from raising. so, have about a year to get the business going. its a great long-term mkt, but not sure things will pick up that much in near term. they got the value of their oil assets horribly wrong especially considering how price of gas has kept up. on the plus side, they obviously have good friends and one really good contract good make current price seem silly. i would be inclined to have a small punt and put the shares in the bottom draw and forget about them.

[cockneyrebel] 22/8/2003 11:14

Seem very interesting.

In the recent placing and open offer of preference shares they state net assets of £4.8m.

The current market cap is 1.4m.

If these were trading at nett assets then they would be around 15p a share on that basis.

This was interesting in the placing details:

urrent trading and prospects

"The rising equity markets since the end of March 2003 have improved revenues for
the Group's asset management business for the third quarter and the launch of
The Recycling Fund will have a significant positive effect on the final quarter.
Corporate finance fee income in the third quarter was the highest since the
quarter ended September 2001. The Directors believe that the fundamentals for
expansion and development of financial services in the EIT sector remain good."

Looks like it might be worthy of a few quid of my money on the hope of some trading statement pre the results.

Shall do some more digging perhaps.

CR

[rambutan2] 21/8/2003 21:19

this was its beginnings or thereabouts. share price nearly 10x higher then...

The tide turns at Kern River
Published: 16:09 Mon 21 May 2001

AIM tiddler Kern River is reinventing itself following last year's refinancing.

The name of the game is still energy, but if shareholders approve a proposed reverse takeover deal it hopes to be in the business of hunting out alternative forms of energy rather than drilling for oil.

It's target is Impax, an investment firm specialising in the 'environmental technology sector' – that means activities such as clean energy generation, waste management and pollution control. These are all areas which Kern River's present management reckon will benefit from rises in the price of conventional energy and tighter legislation.

Kern (KRV) plans to pay £2.2 million for Impax's corporate finance business and investment advisory business which last year made a loss of £360,000 on turnover of £610,000. The company plans to fund the reverse takeover deal with a placing and open offer at 32p and raise £1.4 million at the same time.

If the deal's done Kern will be renamed Impax and aim to build its fund management arm after getting authorisation from IMRO – the organisation that regulates the fund management industry.

While Kern still has its oilfields it is likely to exit from these interests to concentrate on the new investment side of its operations.

We originally highlighted Kern at the end of last year after spying a number of smaller companies movers and shakers bagging the shares. Shrewdies involved include top fund manager Bill Brown who has recently finished launching a new investment trust – 3PC and City dealmaker Duncan Duckett. The pedigree of its backers could well help get the investment business motoring once the deal goes through.

The company today announced improved interim pre-tax profits of £132,000 for the six months to March.

and a few days later...
Ultrasis (ULT), a company that had a historic interest in some of Kern's (KRV) oil fields, dumped its near 10% stake getting 32p per share – the price pencilled in for a proposed placing and open offer to fund a reverse takeover deal. This was well received by the market, which sent the shares up 3p to 39p. The company plans to take over Impax, an investment house specialising in alternative energy businesses, and expand its fund management operations. The shares were 25p when we first highlighted them at the tail end of last year.

and a month later...
Dealmaker Duncan Duckett's Swan Corporation has topped up its stake in Impax Group (KRV) – formerly Kern River – following the recent reverse takeover. After picking up a further 1.2 million shares (3.5%) Swan holds 6.2 million (17.6%). Impax has taken over a financial services group that specialises in alternative energy investments. Shrewd AIM stock picker Bill Brown has also picked up shares recently. He rates Impax, having had dealings with the company prior to the reverse takeover deal with Kern River. There are big hopes for a fund management arm which is yet to be set up.

and from feb 2002...
Impax (IPX) is an environmentally friendly energy consultancy group which City deal maker Duncan Duckett last year reversed into Kern River, a non-trading oil company.

Impax was already an established consultancy in an increasingly popular area for investment. Since listing it has expanded into fund management and last week unveiled a prospectus for the proposed £55 million Impax Environmental Markets investment trust.

The planned placing has been described as a key milestone by the £9.8 million company, which is still looking into ways of getting the most value from its oil fields.

Shrewd smaller companies stock picker Martin Hudson has picked up a 3.5 million share stake, or 9.9%, for his well-run Fleming Mercantile investment trust (FMN). Duckett has meanwhile sold down his stake, offloading 1.3 million shares. He still has a sizeable 5.3 million share stake, or 15%.

and then things go quiet at my secret source, until the director buy.

[cockneyrebel] 21/8/2003 19:47

They seem to have had a fund raising very recently.

I nearly bought on this news but waited for the shares to pop up, which never happened. Looking at the trades there were a couple of big ones today.

I need to have a look around and find out more.

Thanks for the replies

CR

[rambutan2] 21/8/2003 19:29

i remember that the old aim trust had a chunk of this because they reckoned the management was very sound. from the far receses of my memory, this used to be an oil company with a few wells in the states, but then changed over with the aim of becoming a fund manager. i assume they manage the same named green investment trust. doh, now im going to have to have a look!

[thumbtwiddle] 21/8/2003 16:33

Thanks CR. Have put this on monitor & will do reseach tonight.

[cockneyrebel] 21/8/2003 15:50

A director buy today of 200K.

Right at a long term bottom.

Seems there isn't many following this stock either - no thread to be found so I've started this one - anyone know anything about this company?

CR