Ingenta Share Discussion Threads

[p1nkfish] 01/2/2019 16:11

Had an eye on it for a while (about mid 2016), fortunately didn't get tempted to buy. Great words but in the face of substantial negative momentum. Been burnt elsewhere, more than once. Will continue to watch.

Tax loss selling season soon enough. It might catch a further downdraught.

[timbo003] 31/1/2019 08:12

I'm still here VV, I am inclined to think that ING are not likely to be around in another two years, they will either have been taken private or taken over, meanwhile we are paid (albeit not much) to wait.

[pugugly] 31/1/2019 07:47

VV- Thanks for your thoughts - fully agree and also bringing trading update to my attention - Does nothing to assuage concerns - A lot of good intentions (hopes) but nothing to make me put my hand in my pocket to invest - apart from being too illiquid to exit if no progess - Now back to sleep for another 6 months at least.

[value viper] 30/1/2019 13:36

Barely anyone has noticed the update out today ?! Kind of says it all about how below radar this seems to have become. Stripping out cash currently mkt cap to EBITDA multiple of around 13 - is this fair ?2% yield on stock at 75p.Price action has been simply direDoes this update assuage anxiety ?If you look at the holders of the shares, might they look to combine and take this off the market I wonder.The listing costs of course.

[pugugly] 25/1/2019 17:19

Over a year since I last dropped by (re post 69 when share price was 131/135). Now 78/79. A most depressing year -
Seems as though no change in developing positive returns for shareholders and company treatment of shareholders since it first hit my screens back in 2001 (I need to declare I have never held but in a prior life I had many contacts in and associations with the printing/publishing industries)
The impression received is that it is very much a nice lifestyle company and private shareholders are considered a nuisance. The extract below may be of interest

“At the current share price (IGA) of 152.5p, the company is valued at around £84 million - around ten times prospective earnings for 2003. This may explain why some shrewd investors have taken a nibble recently. As Citywire reported, earlier this month William Littlewood, the fund manager who made his name running the popular (Jupiter High Income) unit trust, bought a secret personal stake of 60,000 shares in Ingenta. Framlington Innovative Growth investment trust (FIT) and Throgmorton investment trust (THRG), run by Framlington stablemates Brian Watson and Roger Whiteoak, respectively hold 490,000 and 130,000 shares, and Hugh Priestley’s (Rathbone Smaller Cos) unit trust has a 170,000 share stake.

Investors looking for the longer term may also want a nibble. ©2001 citywire.co.uk”;

After significant capital infusions market cap now £12.8 million.
OK _ Has been off radar screen for a long time so I may have missed restructuring and repayments to shareholders – If so I am sure someone will put me right.
E&oe -

Still watching as it should be a nice little money maker but never seems to have broken away from the recuperation ward.

[madigansar] 29/10/2018 13:33

Long time holder now. I was wondering too about the Chinese JV. Share price headed to £1...very disappointing. Come on Ingenta!

[sidarthur2] 18/9/2018 08:32

what has happened with the chinese jv - have they stitched us up?

[pejaten] 18/9/2018 07:49

This company is always promising. Hope one day they actually deliver

[sidarthur2] 31/5/2018 11:07

Oh I'm aware value viper and as revenues get realised this will go....cheers mate!

[value viper] 31/5/2018 09:38

try what they said on 24/5/18 for starters - AGM statement

[sidarthur2] 31/5/2018 09:35

nice tick-up...cant see any news tho....

[value viper] 24/5/2018 15:16

Well well.......how amusing after my comments yday

[value viper] 10/4/2018 15:53

wonder if that is a seller cleared today (50,000 shares at 112p , time 1524 hrs).
would be very good (please) to see the directors buy some now with the results firmly out of the way - to give the right message.......do wonder if this MAY be vulnerable to a takeout (NRI).
many institutional supporters / tightly held stock really and they must be getting tad fed up - shares were double this price a year ago...........

[madigansar] 06/3/2018 22:24

Finally somebody posts. -:). Yes, figures would be nice but ING never disclose any financial details of their deals. Nice to see the deal with a high street supermarket. I really want to know the revenue figures after they bought 15.

[value viper] 22/2/2018 08:13

pleased to see this 3 year deal announced this morning with SBRY if a few numbers would have been useful ; certainly not bad news !

[value viper] 27/1/2018 10:35

nice update i think with the shares having retreated to the lows prior
margins up, outlook decent, net cash, unsure of revenue growth but with 70% of stock not in public hands, is this due a further move up ? dividend coming and a re-jig of the balance sheet to assist
Kestrel & Miton between them have circa 40%

[timbo003] 17/8/2017 14:41

>>>JonC, but t/o (performance) is in line with management expectations (whatever they might be)

At the AGM the CEO did state that they would anticipate a reduction in near term sales as their SaaS sales model kicked in and replaced the "one off" upfront sales revenue model, so that would probably account for it.

The question I have asked at successive AGMs (but it falls on two pairs of deaf alpha male ears) is how the heck are ordinary shareholders expected to know that, or what the BOD's expectations actually are?

The company Broker refuses to share their research with the PIs and the management appear to be quite happy for ordinary PIs to be kept in the dark.

Having said that, although they may score 0/10 for shareholder communications, that does not mean that shareholders will not profit from holding the shares.

[jonc] 17/8/2017 14:18

This is AIM. An RNS never points out the negatives.

T/O for the six months to 30th June 17 was £7.7m

T/O to 30th June 16 was £7.57m

T/O for six months to 31st December 16 was £7.63m

In my eyes that is flat.

However on the 29th July 2016 they acquired 5 fifteen with a stated turnover of £1.8m so as I said above you would expect an increas in t.o of at least 900k in comparing the two first six moth periods.

[madigansar] 17/8/2017 13:23

Where does it say turnover is flat JonC or the core products not performing.

Also they just signed a 5 year contract with an Italian company - I think they need time for Fifteen to generate income.

[jonc] 15/8/2017 08:15

Given that these results incorporate turnover from the 5 Fifteen acquisition which one would have expected to have generated at least £900k of revenue the core Ingenta products are simply not performing.

[jonc] 15/8/2017 07:08

Turnover flat Ebitda doubles trouble in China. Looks like a sell.

[madigansar] 12/7/2017 18:22

Very interesting indeed Timbo. Thanks for sharing. Kestrel's investment intrigues me.

[timbo003] 12/7/2017 14:41

Some very brief and belated notes from the 2017 Ingenta AGM which was held on 31st May at the company’s HQ in Oxford

There were only two ordinary PIs in attendance including myself. I think all the BOD were in attendance which includes the two largest shareholders Martyn Rose (Company Chairman) Max Royde (Kestrel).




I got the impression that the Chairman (and Max Royde) probably consider AGMs and small shareholders as a necessary inconvenience. I was also left with the impression that they are both alpha males that often have differing views on the future direction of the company (not necessarily a bad thing).

There were no questions asked concerning any of the resolutions so that part of the meeting was completed very quickly, so we moved on to general Q&As


I asked if there was a trading update to accompany the AGM, answer no, I followed up by pointing out that the company was relatively uncommunicative and there were often news vacuums which lasted months and this could be improved if they issued quarterly updates. Max Royde answered that one by saying he would be opposed to quarterly updates, adding that there is too much compliance to deal with already for SMEs such as Ingenta, needless to say, I did not pursue that line of thought any further.


I asked whether there had been any more signs of the overseas investor mentioned in the 2015 placing document (see below) or any other third party investors. Max was quite defensive when replying, saying something like: we haven’t put anything in the public domain (or words to that effect). Martyn Rose didn’t comment.





Make of that what you will, but I certainly got the impression that there was something significant going on in the background and I do not think Kestrel have invested in ING just for the dividend.