Intercede Share Discussion Threads

[taurusthebear] 16/5/2007 11:57

Nothing but whingers on this board today. A placing was always on the cards, why pretend it wasn't? The important thing is that the company has the cash to take it through, hopefully, to meaningful revenues.

Yes, the chart looks awful. Pretty similar to RCG, in fact, but then it's just as well that investing is a long game! :0)

[njp] 16/5/2007 11:32

Well, I suppose we'll just have to view it as another buying opportunity, WJC.

Doesn't exactly inspire confidence but, as you say, the dilution is minimal and the company's doing the business. Tend to agree with you that the fundraising seems almost an afterthought.

[igoe104] 16/5/2007 11:19

WHY not do a placing for share holders at 40p, when the price was 46p. i,m sure it would be much better impact on the s/p.

its just the wrong time of year to make an annoucement, such as todays. you do your fund raising in better market conditions, early in the year. not in the sell in may period.

at the end of the day,THE FD has let the holders down, with his lack of forseeing the circumstanes, coming upon the company.

IT doesn,t take much working out, an expanding company needs, short term funds.

[jailbird] 16/5/2007 11:05

the placing is @5 x sales which is around 33p.

I see SMRT is around the same figure but is profitable recently, even though it warned of lower sales lately. I believe both SMRT and IGP will do well, just these large projects have longer lead times.

It really depends on you what you feel is the right mkt cap..but it i only right to use the sector avearages..but what happens the mkt starts to rate this higher if it can foresee higher sales/profits..and if they not materialise the share prices crashes..so what do ou do believe in the previous company/RNS' or wait for the actual RNS.

[njp] 16/5/2007 10:50

Very unimpressed with the price for such a small placing, and fully agree with others on the competence question - CEO and Chairman as well as FD.

The need for it should have been foreseen early enough to have raised it at the appropriate price level.

The money's so small, though, that one has to question why they couldn't do it on bank debt. Which begs the question, why wasn't the bank prepared to lend it? Maybe the bank is already providing as big a facility as it feels comfortable with in light of the fundamentals and insisted on the company raising some equity.

But then again, it all smacks of the company not waking up to the funding need and sharing this with the bank early enough.

Whichever way you look at it, it smacks of incompetence.

[lew stules] 16/5/2007 10:33

If they need £700K that badly they must really be in trouble.

That is why the placing price was so low as they took what they could get.

Looking at the graph shows a retracement to early 30's IMHO.

[garth] 16/5/2007 10:27

Jailbird,

I never even mentioned SMRT :0)

Yump,

Have you looked at the Gooch chart recently? :0) Posted a comparision with BVC earlier in the week. :0)

SMRT are a lot like GHH, IMO - profitable already, low market cap and masses of potential - but in smartcards rather than lasers.. Ooops - now there I go ramping Rivaldo ;0)

G.

[igoe104] 16/5/2007 10:08

I think andrew walker, should have to justify his job with this preformance.

[yump] 16/5/2007 09:56

Nice chart garth.
You can see the May bottoms - big % falls with no placing.

Really if they were going to place at 33p, they should have issued an RNS earlier along the lines of "The board believe that while the share price has recently accelerated it has created a value that is somewhat artificial and a bit ahead of the game." Then the chairman could have sold some to prove the point, a bit like someone I remember at Gooch&Housego !

The reality check for the people funding the placing will be pretty much the same as Dragon's Den - they have to justify a valuation - which is very different from justifying a share price I think.

[jailbird] 16/5/2007 09:52

Garth,

when will stop ramping SMRT..:-)

[garth] 16/5/2007 09:48

Cheer yourself up here:



Its a slow revolution. IGP will be winners (along with one or two others I could mention - but won't)

G.

[pyman] 16/5/2007 09:48

33p is a low number! mates rates!- i wonder who the 'institution' is. sadly not moi.

[garth] 16/5/2007 09:38

33p? Reckon they must have got the price wrong in the RNS.

...but then again, aren't these the guys who raised cash at about 7p in 2003 when the share price was nearer 14p? And only directors got the opportunity to put snouts in the trough.... It would be interesting to know who the new 'institutional' support is.....

[igoe104] 16/5/2007 09:35

It just sends out the wrong message, when you give them away at 33p. all does is, push the company backwards.

[jailbird] 16/5/2007 09:34

Losing bidders protest GSA's latest HSPD-12 award
XTec and Computer Literacy World, two unsuccessful bidders for the General Services Administration's contract for managing its Homeland Security Presidential Directive 12 Managed Services Office, filed protests May 1 with the Government Accountability Office.

Computer Literacy World alleges that:

* GSA awarded the contract to EDS, even though the company does not have a vendor on its team that was preapproved to provide e-personalization and graphical personalization services. Under the contract's requirements, card vendors must have a GSA-approved partner to print the HSPD-12 cards using approved printing algorithms and approved middleware, printers and other components. The vendor also must have a GSA-approved partner for downloading public-key infrastructure certificates onto the card's chip.


XTec alleges that:

* GSA failed to conduct meaningful discussions with all offerors in the competitive range.
* EDS should have been disqualified for changing the system after it demonstrated it and for offering GSA with the lower price for the new version.
* EDS offered a lower price by manipulating options and other items.

[pork belly] 16/5/2007 09:30

i see no reason to get angry. its only 6% dilution. peanuts. yes, it was badly timed for sure, but 6% is nothing. cheer up.

[igoe104] 16/5/2007 09:29

TO be honest its not the first bad decision andrew walker has made, he arranged a loan at a very high interest rate, last year as far as i can remember.

[jailbird] 16/5/2007 09:28

LOL

thanks igoe

[bigpunt10] 16/5/2007 09:26

Makes no sense really.When IDD recently announced a placing, their shares went up by 20%.

[igoe104] 16/5/2007 09:26

[e-mail] i,ve already made my thoughts known.

[jailbird] 16/5/2007 09:24

haven't these guys got email addresses?

[rambutan2] 16/5/2007 09:20

doesn't seem to have cost them any fees.

would offer a bit of cheer if a good fund manager had bought in, although would have to be a small fund due to small value of shares, especially as they've been placed with more than the singular.

[igoe104] 16/5/2007 09:01

ALL thats going to happen now, the share price is going to drift. into the 30,s. well done walker.
all this fund raising decisions should have been made when the price was in the 60,s. it didn,t take much working out that, they would need funds, in the near future, if the company was expanding.