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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ind.Intl.Inv. | IIR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 1.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.25 | 1.25 |
| Top Posts |
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Posted at 01/3/2011 09:31 by risk assesor sorry took a while to get it but this is what a friend of mine received , not sure it helps you but there you go !!! -------------------- To all shareholders and loan note holders London, November 22nd 2010 Dear Shareholder, I am disappointed to have to tell you that the board of the company has determined that as a result of a number of events, three operating subsidiaries (Pronet Analytics.com Limited, Independent Financial Markets Research Limited and Independent Research Pvt. Limited) are no longer viable. The board convened a meeting on November 10 2010 for the purpose of appointing a liquidator for a voluntary liquidation. All staff in the group have now been made redundant. Those of you who have followed us closely since 2000 will recognize that we have struggled. More details addressing the background to this unhappy outcome are provided below, and I am writing to you today also to request any feedback or comments you may wish to make concerning our proposals for winding down the parent company. Independent International Investment Research Plc has no other operating companies. All of the tangible assets were held by the subsidiaries and these (mainly desktop PC's) will be sold by the liquidator. The intellectual property assets, meanwhile, were provided as security for funding that I provided personally to the company earlier this year as we attempted to bridge a difficult period. Regrettably these assets have delivered little value, with or without a team of professionals to execute business. Together with three former staff, I now intend to pursue a business activity which uses some of the intellectual property assets (notably the Irideus.org website and domain) productively and profitably, at some point in the future, we hope. There are no revenues associated with these assets. Significant new investment will be required (£1mm) which we have no certainty of obtaining. We also propose to acquire from the group one of the dormant companies (Irideus Limited). Similarly, no revenues are associated with this company or its services. The company has four arrangements in place with suppliers, but no clients. If you wish to make any comment on these plans, may I please invite you to do so within the next seven days. The result will be that IIR will become a shell company. Whilst it could be liquidated, the practitioner dealing with the subsidiaries has suggested that to save costs, we may wish to simply allow the company to be dissolved. I have personally funded the orderly liquidation of the three operating companies and cannot fund the liquidation of IIR. However should any shareholder or group of shareholders wish to do so, this option can be adopted. Again I would welcome your views in the next seven days. Background and recent events The IIR Group was founded in 1996 and was admitted to AIM in 2000 with a placing that raised approximately £4.6mm. There have been no subsequent public/institutional fundraisings. The original business was technical research on FX and commodities and the Group's business plan ran immediately into the challenges presented by the tech meltdown in 2000 and subsequent economic down turn. Attainment of breakeven required a number of strategy changes and took much longer than anticipated for the original fundraising. For the whole of the last decade, the Group has been under-funded but in recent years began a substantial positive trend in net earnings. Whilst still vulnerable, however, in terms of cash reserves, the Group has been impacted by three related events which it has proved impossible to survive. Amongst the milestone challenges we have faced, In 2004 the Group had to begin long and costly legal proceedings to protect core intellectual property that was being infringed by a much larger company. This was a significant drain on resources. When the original technology built in 2000 to deliver our technical research platform needed substantial new investment around 2006, funds were not available and this product was necessarily discontinued. The Group began an initiative with a leading stock exchange in 2006 which took much longer than expected to reach market, in 2009. This initiative launched in very difficult conditions in March 2009. Adding to the problem, one of the three partner research providers failed to meet expectations for sales and marketing support, undermining the efforts and success of the others. The Group's IPO research service was withdrawn when the IPO pipeline evaporated in the credit crisis. Re-launched in January this year, it was successfully building a client base but too slowly. The Group's advertising-supporte Our nomad withdrew from the market, and we were required to replace this adviser at short notice. A dysfunctional relationship with the replacement nomad which sapped our resources at a crucial time, and the costs of remaining listed, determined that we de-listed from AIM. This allowed us to focus on the business, conserved cash and extended our runway, but negatively impacted on the Group's ability to raise new equity funding during a rare window, and has made further funding harder to access. The change in the US regulatory environment that came with end of the Global Research Settlement in July 2009 reduced our revenues by 75% A contract with a client signed earlier this year had been expected to extend substantially in scale by now, but in practice despite great efforts from the dedicated team the first phase has proved problematic and with significantly less margin than expected. Most recently, The Group's external web development firm effectively went into melt-down, leaving us without support at a crucial time. Our campaign to engage with several hundred prospective funders over the summer months met with little success, due to the state of the private equity and VC sector, our size, and the unlisted nature of our shares. However by the end of September, the due diligence stage had begun with several potential investors. Our funding proposition to these prospective investors was based in part on the expected conclusion of a 10-month negotiation with a major investment bank, for a significant number of licences of our Capital Connections product. The bank unexpectedly terminated this negotiation on 30 September, citing reduced flexibility in the context of a difficult year in equity capital markets. Our inability to demonstrate progress in this negotiation led to our bankers declining to provide arranged working capital facilities, which were contingent on this progress As a consequence of the impact on our solvency our current largest client terminated their contract. Thank you for your support over the years. Please do contact me if you would like to discuss any aspect in greater detail. Best, Shane Smith Chairman and Chief Executive Officer Independent International Investment Research Plc shane.smith@iirgroup v: +44 20 7232 3090 f: +44 20 7232 3099 m: +44 7785 276 703 these are his new details -------------------- Shane Smith Chairman & Chief Executive Officer Asia Century Capital Limited Group: International Capital Connections Limited & Irideus.org, the Intermediated Research Initiative shane.smith@capitalc Cell: +44 7785 276 703 Skype: shanesmithiiir Fax: +66 8456 525 858 |
Posted at 26/10/2010 10:14 by scrapheap I'm afraid so - a nasty and gutting experience as an investor with a BIG stake in them - but it didn't cost me my job so....In hindsight the decision to delist whilst it bought them more time actually devalued their attraction too I think. |
Posted at 14/10/2010 23:07 by scrapheap Dear GEO Monitor user,I am sorry to have to tell you that we have experienced a very serious setback and this will have implications for all our clients and registered users. We last raised money from investors ten years ago, just before the tech meltdown created very challenging trading conditions. Since the end of the Global Research Analyst Settlement in July 2009 we have once again encountered a difficult commercial environment, and we have needed to steer a very careful course. As some of you are aware, during the summer we initiated a funding round to underpin our new phase of expansion, building primarily upon our "virtual" corporate access platform, Capital Connections, and our intermediated research initiative with a number of Stock Exchanges. By the end of last month this new funding round had reached the stage of investor due diligence. Our funding proposition to prospective investors was based in part on the expected conclusion of a 10-month negotiation with a significant prospective client, for a substantial number of licences of our Capital Connections product. Unfortunately, these negotiations ended unexpectedly at the end of last month. As a consequence, we have been unable to draw upon our working capital facilities with our bank, and are faced with immediate solvency issues. Our GEO Monitor service is unique in providing comprehensive international IPO research. It has been very well received amongst our buy-side clients. owever it was re-launched less than a year ago after the IPO pipeline began to recover from the credit crunch, and has not had time to build subscriptions to the point at which the costs of our research team are covered. As such, it represents the most significant drain, amongst our product range, on our cash resources. Our legal obligation under our present conditions is to formally terminate the research team's employment contracts. However, for about the last two weeks most of the team has continued to operate, whilst we energetically pursue a dialogue with a number of parties who may be interested in taking over the product and the team. I am sorry to say however that we have now reached the point at which this effort needs to be mothballed, pending the outcome of our discussions with these third parties. Thanks for your patience thus far. We remain hopeful of a constructive outcome after this service interruption. Please be assured that we are exploring all possible options to avoid definitive termination the GEO Monitor service. Best, Shane Smith |
Posted at 15/7/2010 12:59 by scrapheap IIR reported as saying avoid the Ocado IPO...Ocado Says GBP510 Million IPO Plan Remains On Track For Next Week Ocado Group PLC, the online grocer that has yet to make an operating profit since forming 10 years ago, said Thursday its plans for a GBP510 million initial public offering on the London Stock Exchange are still on track. Earlier Thursday, U.K. oil company Fairfield Energy PLC pulled its planned IPO to raise $500 million, citing market conditions. That raised speculation that Ocado could suffer a similar fate, since the deal has already faced sharp criticism from some investors and analysts who see its aimed-for valuation of around GBP1 billion as too high. "We can categorically confirm that the Ocado IPO is proceeding according to plan," a spokesman said in an emailed statement. "The Ocado team have had a great reception in the U.S. and are continuing with a busy roadshow schedule during which the management team are meeting a very large number of potential investors and the audience is very engaged," the spokesman said. Ocado is looking to raise GBP200 million in new capital to pay down debt, improve capacity in its existing warehouse, and to help fund the construction of a new warehouse that would expand its distribution. Existing shareholders can sell up to 155.2 million shares, worth about GBP310 million at the low end of the 200-pence to 275-pence price range. Order books close on Tuesday. Analysts at Independent International Investment Research PLC on Tuesday issued an "avoid" rating on the Ocado offer, saying that they see fair value at around 155 pence a share, well below the offer range. Ocado, based in Hatfield, England, sells and distributes groceries for supermarket Waitrose, a unit of the John Lewis Partnership PLC, as well as some non-food products for John Lewis. It has about 1 million registered users, of which about 240,000 had used the service in the 12 weeks to May 16. The selling shareholders include John Lewis's pension fund, Ocado's founders, cashing out part of their stakes, and Ubs AG (UBS). |
Posted at 25/3/2010 22:52 by rob67 I see there is a Cleantech sector update on PSQ. 7 more companies joined since the original report (now 24). At least they seem busy behind the scenes if not with investor updates!! |
Posted at 15/3/2010 17:05 by fatfish I wonder just how long negotiations with prospective investors will take? |
Posted at 16/1/2010 07:41 by scrapheap LONDON, January 15, 2010 - PSQ Analytics, launched with support from the London Stock Exchange, has published a wide-ranging review and outlook of the Technology & Telecom sector, which is "arguably the largest and most important sector in the global economy." Please logon to www.psqanalytics.com to retrieve your free copy of the report. According to the report, the technology sector is the source of new processes and efficiencies in the global economy. But as Technology evolves, processes, systems and even industries change. This change creates opportunities for investors. "The prevailing trends in the global information society including collaboration, virtualization, media-rich social networking, the digitization of healthcare data, and exponential growth in data traffic are driving demand for ever more sophisticated data management, transport and storage at the company level." The report also includes profiles on 20 technology & telecoms companies on the London Stock Exchange's Main Market and AIM: * ACCESS INTELLIGENCE PLC * ALLOCATE SOFTWARE PLC * ALPHAMERIC PLC * AMINO TECHNOLOGIES PLC * BLINKX PLC * DIALIGHT PLC * FORBIDDEN TECHNOLOGIES PLC * IDOX PLC * IMAGINATIK PLC * INDIGOVISION GROUP PLC * MICROGEN PLC * MONITISE PLC * PLANET PAYMENT INC. * SCOTTY GROUP PLC * STATPRO GROUP PLC * TELIT COMMUNICATIONS PLC * TIKIT GROUP PLC * VELTI PLC * WIN PLC * ZYTRONIC PLC The Technology & Telecom report is one of a series of sector reports published by PSQ Analytics. Earlier reports, which are also available from the website, have focused on the Clean tech and Commodities sectors. |
Posted at 10/12/2009 11:06 by rob67 I see we got a mention on the Integrity Research Blog. Pasted belowIrideus.orgCoverage of small and mid cap companies in major stock markets around the world has often been somewhat lacking. Shane Smith, the CEO of Independent International Investment Research PLC (IIIR) has estimated that "25,000 public companies listed on 27 key stock exchanges around the world, lack research." Irideus.org is a new service hoping to provide a global solution for small and mid cap companies' research coverage issues. Enacting a similar structure to that seen in the PSQ Analytics service launched on the London Stock Exchange in March of this year, Irideus will combine the five research providers across the globe to provide unbiased research on firms traditionally uncovered by sell-side equity research analysts. Irideus.org believes that the recent attempts by a number of exchanges represent good progress in getting coverage for a wider range of companies. However, Irideus feels that the research provided by different exchanges is too fragmented and difficult to compare to be of use to global investors. Irideus.org is made up of Aranca, a Mumbai-based research provider; Argus Research Company, a New York City provider; Copal, an Indian based firm; IIIR, a London based research company; and Zacks, a U.S. firm. Of course, many of the same issues Integrity wrote about when PSQ was launched are still relevant today. Despite the random assignment of research providers to companies requesting coverage, there is still the risk that too many negative reports could hurt future business and thus there is the same motivation to provide positive reports as is present in paid-for research, although in a smaller scale. The fact that similar services such as the IRN (Independent Research Network), Bright Meridian, and the National Research Exchange all failed is another factor to keep in mind. Irideus.org's global scope is encouraging and the potential it has to become a large provider of independent research is exciting. The press release is copied below. |
Posted at 12/5/2009 17:38 by scrapheap Investors, Research Firms Brace For Settlement's EndBy Lynn Cowan and Ed Welsch Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Five years after the largest Wall Street firms agreed to supply independent analyst reports to their clients as part of a massive regulatory settlement, the arrangement is coming to an end - something that could hurt both research shops and individual investors. The majority of the banks involved in the 2003 case involving allegations of tainted analyst recommendations are scheduled to wind down the settlement's research obligations at the end of July. That means the spigot of mandated money - $460 million total - that financed alternative research reports will dry up. Although every independent research company that benefited from that funding stream knew the end would come one day, they won't be able to immediately replace the drop in revenue beginning Aug. 1. Public companies that have struggled to attract analyst coverage will also lose out when some brokerage firms drop the extra research. For the individual investors who took advantage of the free reports, independent research will once again revert to its original audience: large institutions such as hedge funds and mutual funds. There's considerable debate about whether individual investors will directly suffer from the end of the settlement-funded research. Many investment banks maintain it wasn't widely used by customers, and in any case, two of the largest brokerage firms - Citigroup Inc.'s (C) Smith Barney unit and Morgan Stanley (MS) - plan to continue paying for it after the settlement period ends. UBS AG (UBS) is the only bank so far that has said it doesn't plan to do so; others have remained noncommittal. Of secondary concern to individual investors is whether offering independent research caused the banks' own research reports to become less biased; there was some evidence in the early years that the level of "sell" recommendations by banks rose, said Michael Mayhew, chairman of Integrity Research Associates LLC, which evaluates research services for asset managers. "During the settlement period, I think the (Wall Street) sell side worked hard to try to make their research more objective. The big question is, without that competition will we start to see a slide back to pre-settlement "sell" levels? I'm not suggesting we will or not; I just don't know," said Mayhew. The settlement's end coincides with a trend toward less research in general being available to individuals, thanks to unrelated market forces. Many brokerage firms have cut back on their stock analysts in the post-settlement environment because investment banking fees can no longer be used to finance it, and the economic slowdown has prompted further cuts. "There are easily 1,400 companies in the U.S. markets with no analyst coverage at all. Fifty percent of all companies have two or fewer analysts covering them," said Bruce Aust, executive vice president of Nasdaq OMX Group Inc.'s (NDAQ) corporate client group. "We'll see if the number of under-covered companies goes up dramatically after the settlement dollars go away." For independent research shops themselves, there's no getting around the fact that the settlement money - in some cases in the tens of millions - will disappear for the most part in August. Morningstar Inc. (MORN) has warned investors that it expects its post-settlement revenue to be "significantly lower" beginning in the second half of the year. Morningstar received $21 million in settlement monies in 2008 - about 4% of its consolidated revenue last year. But executives at Morningstar and other independent research firms - including heavy-hitters Standard & Poor's and Argus Research - say that they are optimistic that the many of the Wall Street banks will continue to hire them for research after the settlement ends. At the same time, settlement money has helped firms build up their business and target more clients outside the original banks involved. "Even though the settlement revenue will go away, we think we're emerging stronger than we were going into" the contracts five years ago, said John Eade, president of Argus Research. While the traditional "buy, hold, sell" research used by retail investors has been in decline during the settlement period, an alternative research industry has flourished by creating exclusive research for institutional investors with deep pockets. The research spans a wide range of services, from collecting field data and surveys to providing specialized forensic accounting services. Integrity Research estimates the revenue spent on such research services in North America last year reached nearly $2 billion, or nearly half the amount of commissions spent on traditional Wall Street research. -By Lynn Cowan, Dow Jones Newswires; 301-270-0323; lynn.cowan@dowjones. -By Ed Welsch, Dow Jones Newswires; 201-938-5244; edward.welsch@dowjon |
Posted at 12/6/2007 08:46 by james 2 Monday, June 11, 2007Whither Investorside? New York-Investorside, the trade association for independent research, held a members-only meeting Thursday, June 7th covering topics from technology to regulation. Investorside was formed in July 2002 and grew quickly in the wake of the Global Research Settlement and uncertainties about soft dollar payments to independent research providers. The organization now has new challenges to confront: Chairman's Cox call for the abolishment of soft dollars, the rise of CCAs, and the end of the global research settlement. The session was an opportunity for Investorside to discuss these issues and formulate responses. Independent research represents a growing portion of a shrinking pie. Larry Tabb of The TABB Group presented the results of a survey which projected 18% growth in hard dollar spending for independent research and 11% growth in soft dollar spending for independent research (before Cox's call for a soft dollar ban). This increased institutional investor demand for independent research is contrasted with a forecasted 24% decline in spending for bundled broker research and a modest 3% growth in internal buy-side research. Nevertheless, Investorside and its members will be under pressure from challenges to the research industry generally. As Cox mentioned in his call for a ban to soft dollars, investors currently spend $1 billion in commission payments (soft dollars) to purchase independent research [Cox neglected to mention the $6 billion in spending for bundled brokerage research.] Investorside and its members are concerned that if soft dollars are abolished as a payment vehicle the $1 billion will shrink. A number of Investorside's members have been successful in being chosen by independent consultants administering the Global Research Settlement. Spending on independent research through the Settlement is averaging around $100 million per year. It is doubtful that this level of spending will continue after the Settlement expires in August 2009. Investorside recently co-sponsored a white paper on commission sharing arrangements with its European counterpart, The European Association of Independent Research Providers (EuroIRP). Investorside is also formulating its broader strategy regarding commission sharing arrangements (and their US equivalent, client commission arrangements or CCAs). While prospects for independent research are favorable, Investorside members are not immune from the larger forces impacting the research industry, and, as such, Investorside will be formulating its strategy for navigating the uncertain research marketplace. Investorside has faced challenges before--when many investors cut back soft dollar payments prior to the SEC's guidance on soft dollars released July 2006. Most likely, the current challenges facing the industry will be a tonic for the organization. [Note: Integrity's founder and chairman, Mike Mayhew is a board member of Investorside.] |
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