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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ince Group Plc (the) | INCE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 5.15 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.15 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 24/6/2023 18:02 by brucethegoldfish Xeno - I’m afraid your investment is worthless. Ince went into administration months ago. Do you not read the news feed? |
Posted at 17/6/2023 07:45 by xenomorph1 Hello all,i had share of INCE on IBRK and now they are names INCE.OLD. What can i do with them, i want to sell them? I havent been around a while, and i dont know what is happening... |
Posted at 28/4/2023 17:38 by greg the grinch Sold...........down the river?Ince Group PLC (The) Appointment of administrator and sale of business 28/04/2023 4:20pm UK Regulatory (RNS & others) Ince (LSE:INCE) Intraday Stock Chart Friday 28 April 2023 Click Here for more Ince Charts. TIDMINCE RNS Number : 9416X Ince Group PLC (The) 28 April 2023 28 April 2023 IMMEDIATE RELEASE The Ince Group plc ("Ince", the "Company" or the "Group") Appointment of administrator and sale of business Further to the announcement on 12 April 2023, Quantuma Advisory Limited have been appointed as administrator to the Company, Ince Consulting Holdings Limited, Ince Gordon Dadds Services Limited, Ince Gordon Dadds Holdings LLP and Ince Gordon Dadds LLP by the Court. Quantuma Advisory Limited, as duly appointed administrator, have today implemented a sale of the Group's business and certain of its assets to Axiom DWFM Limited. |
Posted at 27/4/2023 22:55 by jim digriz Some chat here, other articles confirm Ince extended their 25 April deadline by 10 days. |
Posted at 14/4/2023 07:05 by albert zog Reports on Tradewinds and LSE forum that Alan Sellers / Anexo is now pursuing a lawsuit against Ince Board, presumably including Donald Brown. Sellers will have lost a small fortune here. This must reflect the placings last year, and the disclosure around Ince finances. The plot thickens |
Posted at 12/4/2023 14:33 by tomboyb 12 April 2023IMMEDIATE RELEASE The Ince Group plc ("Ince", the "Company" or the "Group") Intention to appoint administrator Further to its announcement on 14 March 2023, the Company confirms that its audit process for the financial year ended 31 March 2022 remains uncompleted. The Company's shares have been suspended since 3 January 2023 and the length of the auditing process has put increasing pressure on the cash flows of the business. As a result, the Company has been holding discussions with its major lender and other creditors, including HMRC, to establish their level of support. The Company has now been informed by a major creditor that it will no longer continue to support the business and, as a result, in order to preserve the future value of the Group's business and to protect the interests of employees and other stakeholders, the Board of the Company has regrettably concluded that it has no choice but to place the Company into administration. Accordingly, the directors of the Company and each of Ince Consulting Holdings Limited and Ince Gordon Dadds Services Limited and the members of Ince Gordon Dadds Holdings LLP and Ince Gordon Dadds LLP have resolved today to file documents with the Court to appoint Quantuma as administrator, in the expectation that Quantuma will implement a sale of the Group's business to a third party purchaser as soon as possible. Contacts: |
Posted at 01/3/2023 09:44 by quepassa I don't think there could be any lack of due diligence. This outfit is crawling with corporate financiers.... who know precisely what they are doing.Precisely what they are doing. And in a peculiar twist of fate, it would have been the same party who was at the helm when both sales of Arden were negotiated. The October 2021 Ince purchase of Arden valued Arden at approximately £10m (RNS 26/10/21). The sale only completed some six month later in late April 2022. A mere thirteen months later Ince announced the sale of Arden for a consideration of £1m (plus a conditional earn-out of UP TO £2m) (RNS 16/11/22). That's an enormous fall in valuations over such a short time-frame - irrespective of the decline in market conditions. It is interesting to compare against the fluctuations in the market valuations of other AIM listed corporate finance boutiques over the same time-frame. ALL IMO. DYOR. QP |
Posted at 27/2/2023 08:12 by southernsong Very pleased I sold INCE ahead of the suspension.Have done very well on HYVE in the meantime. They now say early March.....but things get complicated if they go beyond the end of that month to sort all of these legacy accounting issues. The good thing is I don't believe any of this is reflective of the current BOD, since they took hold of the business. |
Posted at 24/11/2022 23:31 by southernsong Hamida - A cursory glance at Ince, without fully understanding the events of 2022 could easily lead someone to your conclusion.....and that is probably where the market is still at.But I have to agree with eringael. The Arden fiasco was indeed a right old fiasco....so, so protracted and so, so damaging for the share price...but to the best of my knowledge it was the brainchild of a CEO who has since been 'eased' from office.....eased, ironically, by the incoming boss of Arden who is now the new CEO at Ince. Since his arrival he has grabbed this company by the scruff, invested near £1M of his own money and started a root and branch overhaul of the business. His actions, so far, have been pretty emphatic. The balance sheet was in a sorry state and his actions to date have, in my opinion, revealed just how badly this company had been managed. He has successfully got two placings away so that cash is now at a healthy level; shown that debt is falling and cash levels (aside from placing funds) are rising; identified and implemented cost savings to the tune of some £10M (in the UK alone); successfully renegotiated with creditors; identified around £11M of debtors in the UK and overhauled cash collection and bought in key staff to pursue those debtors; removed around £7M of deferred consideration from the balance sheet; got shot of any division which is looking weak or not aligned with Inces core legal services going forward and ultimately sought to refocus the business for sustainable organic growth. The fact that he could identify £10M of cost savings in the UK division alone, and so quickly, tells you a lot about how this company had been previously managed......not to say what I perceive as poor cash collection protocol. It's a shame for those who were buying INCE in the 40 - 70ps (and I'd be interested to calculate what the mkt cap was back then), but what matters more is the health of the company and its viability vs it's market valuation NOW, less the headline share price of 10 months ago. You state that the Arden deal could and should have been aborted. Yes, it could have been aborted. But what would that have left you with? It almost certainly would have left you with the old management team and a business with all the issues the new CEO has revealed. And it almost certainly would NOT have led to the overhaul we are now witnessing. I hope the apparent change in 'culture' at Ince is genuine and it will continue as it has started. So you have to ask yourself what it is you want. Do you really think the Arden deal should have been aborted? For existing holders it was, on the face of it, a bad deal - but it might just still have a silver lining, particularly for new investors. Ince is not out of the woods and it still faces challenges, but despite the collapse in share price seen in 2022, I believe it's already looking like a better potential investment than it was. The delay in publication of FY results and Annual report is an ongoing frustration but again this is a legacy of 1) the previous management and the issues they faced and 2) the issues facing the company in the Far East, which to a degree remain out of Ince's control. I bought in since the 5p placing so it's easier for me to accept and see the situation for what it is, without the baggage of having shares bought under the ex CEO and at much higher prices. It will be very interesting to see what ultimately transpires here. Could work out extremely well in 2023 or not. We shall see. No guarantees. But it is an interesting situation that is currently in play. Next RNS will likely be a + holdings. Will be interesting to see who took the shares which appear to have been oversubscribed. AIMO and NAI so ADYOR. |
Posted at 13/11/2022 13:20 by southernsong empirestate......I *think* they have an extension till the end of December, should they need it(?) But my gut feeling is that it will be out this month, as they've previously stated, but we'll see....I fully expect the figures will show the previously mooted reduced T/O (drop below £100M) and imo a swing to loss owing to the three main issues the company faced, but this is to some large degree history now (pending of course the easing of restrictions in China and HK). Further the company has - thankfully - since been put through a series of decisive and rapid changes....and continues to be so. There will probably be strong emphasis on what has been achieved SINCE the period end, and particularly the period since the old CEO was removed and what Donald Brown has stepped in and done. The company has obviously cried out for strong and decisive leadership and so far it looks as though he is providing that (?) Spent yesterday reviewing (again) all RNS' from the past 16th months. I think much of the outright 'bad' has now happened and, in any case, much of that 'bad' was due to exceptional and one-off events / circumstances. INCE's main issue stemmed from the the pandemic and the protracted lockdown and travel restrictions in the Far East markets. This hampered cash collection, but also, subsequently Russia's attack on Ukraine and then, finally, to cap it all off, a bad cyber attack which for a short but important period seriously impacted normal working practices and invoicing. Brown's focus has been clear enough and he is, through rationalisation and restructure, seeking to reimpose simple business metrics at INCE: 1) To rapidly streamline the company and make it leaner by reducing or removing any and all unnecessary overheads. 2) Remove those divisions and acquisitions that are 1) not well aligned with the companies planned core product offering going forwards and/or 2) do not show any real promise of delivering meaningful profit in the near term. 3) Remove those parts which show heavy, deferred considerations on the balance sheet. 4) Successfully renegotiate with company lenders. 5) Retain a big capacity for cash generation through the retention of a high number of quality staff who will offer a well defined product offering. 6) Raise money (c.£9.3 million raised in total), pay off imminent creditors, and bolster coffers by further reducing outgoings (eg shares in leu of pay, saving a further £1M to date). 7) Begin to capitalise on the Arden-Ince synergy and exploit opportunities to cross sell. 8) Overall reduce the companies cost base (a reduction of some £7.2M has been achieved since Brown took to the helm). That, by any measure, is impressive and welcome. We know the cyber attack was resolved long ago. It is thought that it caused a cash impact of c. £4.9M.....most of which should be eventually recovered by the companies interruption to business insurance policy. That money is already earmarked for company creditors. D.B. has also bought in key staff to chase invoices as the lockdown situation in China eases. INCE have a whopping £11.8M in debtors and they have already reported that the key staff bought in to control cash and tackle those debtors have started to make significant inroads. INCE have flown close to the wire for reasons which, in part, were out of their control....but also in part due to sloppy or indecisive management (imo). I think the year ahead will be a crucial one for INCE, but Brown, other directors and certain investors have taken up some pretty robust shareholdings here and so far he has demonstrated that he is serious and proactive in turning the business around. An important period ahead which will be very interesting to watch unfold.....particula I've taken a few shares on the speculation that the new CEO has the ability and tenacity to pull it off. Given his recent investment here, he should certainly now be well incentivised. All the above written to the best of my knowledge / understanding and in my opinion only, so NAI and ADYOR. |
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