Ingenta Share Discussion Threads

[smithie6] 23/9/2020 20:33

ah ha. floated in 2000

£120 million !, versus £10.5 million now

going to a decent % of that £120 million would be nice !

[encarter] 23/9/2020 20:17

The 2007 IPO was the result of a merger between ingenta and vista. Ingenta floated in 2000 for a massive 120 million quid. A long way from today's value but maybe we are heading back there. Regarding a takeover, one of the directors has previous form with Alternative Networks selling for 165 million quid.

[smithie6] 23/9/2020 17:51

interesting

from co. website

holders of >2.5% (??)

hold

14,423,625 85.58%

of the issued shares

!!!!!!!

so, about 2.4 million in public hands
( but !, in reality, mates of those rich holders will also hold)

let us say 1.2 million are held by PIs.
say £600k worth

very small

& I got 1.7% of those PI held shares. :-)
shows how illiquid this is.

85.6% held by holders of >2.5%.
amazing %

[smithie6] 23/9/2020 17:38

cash raisings
2007. ~£1.5 million at the IPO
2015. ~£10million @ 120p
2016. ~£800k. @ 130p to fund an acquisition

& now it has 3.5 million cash & has seen a step jump in profits ...the share price is now ~ 64p. nuts !

other cash raisings ?
the IPO I guess

[smithie6] 23/9/2020 17:11

bought out

I think that would be an obvious route for the big holders

& 2 dirs are linked to ~60%

First get the price up from stupid price area, hopefully then add some contract news & good finals (auditted)

& better perf. looms then the share price should keep going
or look for a buyer

-----

raised at least £30 million in the past years (3x the current price)
so any instis still in that coughed up for that will surely want any buy out to at least return all their cash, at the higher prices they invested at

----

but there would be a higher return for PIs from a few years of growth rather than a quick buy out after the next finals.

[smithie6] 23/9/2020 17:07

well, Im happy that I've quite a bit

+ £1k a week or so ago
& then x3 recently (us PIs have an advantage that we can multiply our positions, or get out, whereas Instis can't in small cap. stocks)

the situation looks very good to me, just starting imo, if it is a long term change in directn, downwards to upwards !!

[encarter] 23/9/2020 17:04

They have a great business that is expanding into new markets so a bright future and a rerating of the share price was due regardless of the buyback. Oh and a dividend as well.A chance that we could be bought out. Looking at the books what would be fair value?

[p1nkfish] 23/9/2020 16:49

Try getting much stock. Not easy, will move the price meaning less buyback needed to get the desired result. Have not seen a situation quite like this before, at least not that I remember. Interesting combo of forces.

[encarter] 23/9/2020 16:31

I wish I had more funds but waiting for some to clear. The way things are I will probably be a buyer up to 80p.

[smithie6] 23/9/2020 16:31

be interesting to see what the share price does when there is an RNS that a buyback has happened

at least it should help convince holders not to sell

[encarter] 23/9/2020 16:29

Don't forget the massive buy order in the background.

[smithie6] 23/9/2020 16:27

gotta be one of the most illiquid shares I have seen in a long time

time volume & + 5%

[encarter] 23/9/2020 14:06

As they occur might give a few days grace. We shall see.

[smithie6] 23/9/2020 12:30

ah

"The Company will make regulatory announcements in respect of the Company's transactions in its own shares as they occur"

& no announcement, so the 50k shares trade wasn't by the co.

[smithie6] 23/9/2020 12:16

interesting situation now

no one seems to want to buy, or to sell

& hence the buyback can't buy any shares !

-----

& if they rang up large holders to ask if they want to sell a few, they will surely ask for a higher price (since they know the co. has better financial numbers)
but the rules prohibit buying above the current mkt price !

[smithie6] 23/9/2020 12:00

updated/corrected in post 172.
(it wasn't a trade in the buyback programme)

=====
Advfn wont let me see the historic trades, for 21st.

but one assumes it must be a buy, & my logic says either a director or their rich friend !, or the buyback or an "existing" Instit. adding to their position (such as Kestrel); & no RNSs for any director buy or Kestrel (director linked)
so I agree with you, that 90%-100% odds on it was a buyback. But I dont know what disclosure rules apply for that. If they have to report it in < 24 hours or only when % amounts are gone thru.

----

I guess that the 50k trade cleared out the holding of that MM
& maybe in return he has a g'tee of executing all the buyback trades, as long as equals mkt prices.
if a MM buys 500k of shares he'll make an ok profit I assume.

=====

ah
you asked about meeting the buyback criteria/conditions

yes, I think so
< +150% . 10 day average. : yes

< last highest trade, or < current mkt price
was 56p about the current mkt price at the time, probably yes
======

56p to buy 50k shares
was imo a very good price & imo wasn't available to any PI, so imo it was someone in the trade, such as for a director at the co. of the MM, or the co. buyback.
(to buy above normal trade size you normally/often have to pay a bigger spread, for ING 50k is well above normal size

[encarter] 23/9/2020 08:24

Smithie, you seem clued up on the numbers. Perhaps you can work out if 56p on the 21st at 11.29 fits with the criteria of the share buyback.

[encarter] 23/9/2020 08:18

The 50k is from the 21st and I think is is the start of the buyback.

[smithie6] 22/9/2020 22:34

interesting

59-60p spread for the morning

tiny spread, tiny volume, 1-3,000 type stuff, & only a few trades

& a trade is now shown of 50k shares at 56p

interesting

perhaps a late reported buy from yesterday ??

[smithie6] 22/9/2020 21:42

I agree, that all looks very good, I'm surprised that the price hasn't really moved upwards.

but when something is underpriced, ppl dont want to sell, & the price can move up fairly smartly if one looks using the 6 month chart & not the hourly one (as I have been, phps I need to work on my patience !)

[encarter] 22/9/2020 20:17

Another thing I like about ING is that kestrel, who have a connection through an ING director have advised their clients to buy ING. Kestrel have a larger business than ING and have a reputation to uphold. Imho this negates any risk of them taking us private. I can see nothing negative here.

[encarter] 22/9/2020 20:07

Just off the top of my head. I do think that they will issue a final dividend also of at least 1.5p and possibly more.

[smithie6] 22/9/2020 17:12

interesting idea

[encarter] 22/9/2020 16:26

Slow re rating. Avoids attracting attention. Perhaps we will see some steady buying by pi's as more good news comes out with the company not able to buyback any stock and so issuing a special dividend.