Ince Share Discussion Threads

[bob1995] 28/7/2022 21:05

One third traded already. Possible short squeeze coming with only 60 million shares available until mid August. Lots of buys at this level

[davebowler] 28/7/2022 16:08

Stockopedia's Paul Scott with succinct summary-
Small Cap Value Report (Thu 28 July 2022) - HOTC, APTD, RST, HEAD, SRT, TWD, INCE, EPWN, VINO, FORT, FNTL, DSCV
6:53 am by Paul Scott
59 comments •4,796 Reads
Good morning. Paul & Graham are here today.

Agenda -

Paul's Section:


Ince (LON:INCE) 5.6p (down 53%) (£5m) [No section below] - this one continues to be a disaster, we’ve been warning against it here for years, due to a diabolical balance sheet, with all sorts of nasties in it - e.g. large deferred consideration, excessive debtors, bank debt, and deeply negative NTAV.

INCE did a deeply discounted fundraise once before, and it’s now announced another one! 5p placing, a 58% discount. I wouldn’t pay anything for INCE equity personally. Although occasionally things like this can be speculative multibaggers, but a more likely outcome seems to me that it gets taken private for tuppence, or goes bust. It’s amazing to think these are lawyers & financial experts, yet are utterly incompetent at managing their own finances (although to be fair, the same accusation could be levelled at me! LOL!). INCE equity is therefore uninvestable at any price, in my view. For gamblers only - you never know, occasionally these things do pay out, although not often in bear markets. At least the risk of insolvency might have reduced somewhat, given this latest emergency fundraising.

[greg the grinch] 28/7/2022 16:02

This placing is a disgrace.

[jim digriz] 28/7/2022 12:02

It's just being treated like a share option exercise for a few directors. Does it actually have majority shareholder backing? Didn't see the usual text about a large %age of shareholders having already unconditionally committed etc.

[bob1995] 28/7/2022 11:28

Buys flooding in. Thank you. You should short it. LMFAO

[dillydally2] 28/7/2022 11:18

As soon as this stock is in folks accounts they will be dumpingSub 5p soon

[dillydally2] 28/7/2022 11:18

150m shares at 5p coming to market

[kemche] 28/7/2022 10:05

Just got 13 million of these golden tickets.
GLA STHers!

[bob1995] 28/7/2022 10:02

Lots of buys flooding in here. Nice to get in early

[scepticalinvestor] 28/7/2022 10:01

I wouldn't even buy this gunk at half a penny...

[kemche] 28/7/2022 09:59

Fluster cuck of epic proportions.

[bob1995] 28/7/2022 09:46

Just bought some. Once book build cleared expecting a big push forward

[wallywoo] 28/7/2022 08:57

Just bgt 100k at 5.65. Showing as a sell. This will bounce nicely once the book build is done and dusted.

[eringael] 28/7/2022 08:50

Well if there was a bounce IG won't let you catch it as it's closing only - effing rigged- they would have let u go long last night I bet

[wiganer] 28/7/2022 08:46

I grew up in Platt Bridge, so I know full well how rough Lower Ince is.

[dillydally2] 28/7/2022 08:19

People already looking for a bounce trade on this3p maybe better

[jim digriz] 28/7/2022 08:12

Ah... a new CEO could really help, this has been a train crash. We are at such a huge discount to normal law firm value that even drastic steps like closing the least profitable half of the firm would create a lot of value for here.Bought more to add to my vote against a placing that excludes holders :-)

[diku] 28/7/2022 08:05

Junior staff?..seniors holidays...

[mister md] 28/7/2022 08:03

Got out of this a long time ago luckily - they are blaming Covid, Russia, Cyberattack etc ...

Will read through in detail later - not sure if worth a punt at 5-6p

Did they run a spelling check though, bit poor :

' 14. RECOMMATION '

[rik shaw] 28/7/2022 08:03

May be the one ray of hope here is that 'Donald Brown, the CEO of Arden, will take over from Adrian Biles as CEO of the Group'.
Brown obviously believes in himself by putting c£1M on the table.
This company desparately needs a finance man in charge rather than a lawyer. Adrian built the company up through acquisitions but clearly has not been on top of cashflow.

[40 fathoms] 28/7/2022 07:59

Did not see this coming. They must have known of the cash hole from the cyber attack months ago. I struggle to see how it can have cost @GBP 5 million in cash.

I also note deep in the RNS is has indicated that Adrian Biles will stand down as CEO and as a board member.

If you want more shares, I think there is a good possibility this will trade below 5p so you can pick them up cheaper than in the offer. On the positive side it seems that trading is not too bad and they have identified a substantial number of additional cost savings.

[kirk 6] 28/7/2022 07:56

Wow incredible especially when insider trading last few days

[diku] 28/7/2022 07:54

Wait for 5p or lower...