Intercede Share Discussion Threads

[jailbird] 21/5/2007 17:14

APD,

that info is very reassuring.

[aphrodites] 21/5/2007 17:06

And for everyone's interest I was called by a broker this afternoon to enquire if I wanted to sell 50,000 shares at 48p. He had a buyer of 100k.

The price at the time was 44p -46p.

He said he had just closed 25k at a fraction under 48p.

If you look you will find this trade has not been reported tonight.

I would put money on the MM's calling the price up first thing tomorrow morning and then then reporting the deal to make it appear as a sell in an effort to pull the price down again.

The MM are certainly short of stock.

[aphrodites] 21/5/2007 16:55

Taurus

I am not attacking shareholders and my company is not punting!

And pin the blame on ourselves for such a badly handled placement. You must be joking!

And my concern has not been about the shares going up, it has been about the way the placement has been so badly handled and the price going down on clear insider dealing.

As we all know IGP has a very small following on here and long may it continue. Therefore, a minority view might well clash with the others who wish to follow the herd instinct. You should welcome someone who paints a contrary picture not tell him he is a pain in the butt.

All I have done is question the logic that one SHAREHOLDER has posted here. And I am just as entitled to highlight what I believe is a badly handled cash raising exercise as you are to support it. The only difference is that I have not read the tea-leaves!

And remember some people want to believe in fairy stories. If it suits you and you are content to add you support to a clear statement from someone who admits his post was all conjecture then please do so. I am afraid I do not come from that camp.

I have my views and I have said quite clearly here that I will wait until the finals are published before I write to the company. I have also said I will pursue the matter at that time not before.

But most importantly any F.D. of an AIM company; when someone calls to tell you that as an investment company you now hold a reasonably large stake in IGP and if there is ever a need to raise further cash in the future to give a call, you would like to think they would do just that. This F.D. was so full of himself at the time that he clearly didn't even bother to make a note of my company or telephone number. And that stinks. Certainly, other F.D.'s have called me back to do just that and even invited me along to visit their company.

But when the tide turns, as it has today, and the share price starts moving upwards everyone is happy again. Really?

But the happiest persons are those who received stock at 33p!!!!

And that is what grates in my teeth.

[igoe104] 21/5/2007 16:08

I CAN UNDERSTAND HIS FRUSTRATION, taurus. the fd told him one thing then did another, after he purchased a stack, OF SHARES IN THE COMPANY.
ANYWAY we can all be friends again, now the share price moving back up.

[taurusthebear] 21/5/2007 16:01

Aphro - you're becoming a pain, please stop attacking other shareholders. If you have a problem with the FD, take it up with the company, not us. We want to see the shares go up as much as you, but not everyone is as keen to pin the blame on people other than ourselves when the shares go down.

Investing is not punting! :0)

[johndee] 21/5/2007 15:56

Those listed as sells were buys...at 44.7 pence.

[igoe104] 21/5/2007 15:25

I THINK ITS THE CASE OF, the mm,s don,t have any stock, because someone last week took 100k buy off them last week. I think they will keep raising the share price until a seller comes out, so they can have a even stock pile.

hopefully they will be no sellers, and the share price gets back well into the 50,s.

PS WJCC its nice to the list growing.

State of Illinois, State of Maryland, and other National Capital Region entities.

[jailbird] 21/5/2007 15:11

i know we were unhappy with fund raising here..but if you looks at IGE's RNS this morning,a fund raising @15p, approx 50% discount and needed £2.5M, i say we have done awfully well...advisor's and brokers of AIM shares are crooks.

[igoe104] 21/5/2007 15:06

A well over-due mark-up at last.

ABIT on about up-coming projects.

Recently, CoreStreet's PIVMAN™ System was used as part of the Winter Storm demonstration organized by the Department of Homeland Security (DHS). The overall goal of this demonstration was to validate the functionality of the First Responder Authentication Credential (FRAC) and the integration of electronic attributes. A number of CoreStreet customers participated in this demonstration including, the District of Columbia, the Pentagon Force Protection Agency, Commonwealth of Pennsylvania, State of Illinois, State of Maryland, and other National Capital Region entities.

[jailbird] 21/5/2007 14:46

well nice move up today..i guess we can kick ourselves for not adding at 40.5p!!

[johndee] 21/5/2007 13:18

at last I am in........been watching this for years...............its got a great future.

[bigpunt10] 21/5/2007 10:37

08/05/2007 11:20:07 : ID Data acquire CredEcard plc
ID Data Group Plc (AIM:IDD), the smart card solutions and outsourcing business, announces that it has agreed to acquire the business and assets of CredEcard plc ("CredEcard"), the pre paid card service provider, for a total consideration of up to £725,000 in cash and shares subject to achieving specified performance objectives over the next two years.

[bigpunt10] 21/5/2007 10:32

Issuance solution at Retail Solutions 2007
In direct response to the growing need for new and replacement cards to be issued in extremely tight timeframes, ExpressCard™ Instant Issue is a revolutionary new system that allows custom printed EMV Chip and PIN Cards to be issued instantly via bank branches, retail outlets or mobile sales locations.

ExpressCard™ Instant Issue allows card users to select their own PIN and even upload their own photograph onto the face of the card. The card is issued to the customer immediately and ready for use as soon as the customer leaves the issuing location. This new technology has been set up to provide a secure, reliable and fast branch based issuance solution which exceeds all Visa and MasterCard rules.

ExpressCard™ Instant Issue is a collaboration between MagTek, the world leader in electronic transaction technology, and ID Data, the leading European plastic card company.

Commenting on the new partnership, Steve Poulston, MagTek's European Managing Director, said "The MagTek / ID Data venture is poised to bring the benefits of instant card issuance to the European EMV banking market. For the card issuer, the benefits are widespread and include reduced postage costs, zero postal fraud and zero card activation call centre costs. Similarly, the cost of re-issuing cards is greatly reduced whilst the number of dormant accounts is kept to a minimum due to customers pre-selecting their own artwork and PIN."

ExpressCard™ Instant Issue is a highly secure system, incorporating complex and programmable levels of security which can be completely host controlled and managed. The system meets and exceeds all major card schemes security requirements for EMV instant issuance.

D Data's CEO, Peter Cox, added "ID Data has developed an unrivalled reputation for providing secure data preparation/management. Our proven secure networks will allow us to communicate with each of the branch based ExpressCard 1000 machines. Supported by secure production, distribution and card stock management, this new solution is a significant advance in EMV card issuance."

Incorporating the revolutionary VividTip™ and Permadent™ technologies, ExpressCard™ Instant Issue provides remote yet reliable card personalisation with no requirement for tipping or indent print consumables to be kept on site. VividTip™ provides card issuers with new and exciting card design possibilities with multiple and individual colours available for each embossed character.

Custom printed cards provide issuers with endless new sales and marketing opportunities and will allow any Credit, Debit, Pre-paid, ATM or Gift Card to be issued immediately in-store.

ExpressCard™ Instant Issue is a modular solution which allows card issuers to implement an 'off the shelf' solution or to integrate parts of the solution into their existing card issuance system; Modules include - ExpressCard 1000 Instant Issuance branch hardware platform; Data Entry software; PIN selection & encryption; Networks & Network security; Chip Data Preparation; Card Production Data; remote ExpressCard 1000 Management; Card Stock and Card Stock Management/Distribution and Data Archiving.

Back


2007 NEWS 2006 News 2005 News 2004 News 2003 News 2002 News 2001 News 2000 News 1999 News Events Email Updates Contact Us End Menu Fully accredited bureau for Visa, Mastercard
Privacy Policy | Terms & Conditions | Copyright

[rambutan2] 20/5/2007 21:06

3 wheels,

don't be silly, all views are valid and welcome. we are not cheerleaders for igp just because we've invested money and time in them.

in fact quite the opposite!

[3 wheels on my wagon] 20/5/2007 17:28

APHRODITES - 20 May'07 - 16:02 - 1363 of 1366 (Filtered)

[wjccghcc] 20/5/2007 17:09

APHRODITES,

Why don't you read my post before you call my comments stupid?

Read it again and you'll see I said I'm as annoyed as the next person that they didn't do this 2 months ago.

I never said they weren't concerned about their shareholders - I said I doubted they were that worried if the shareprice dropped back to 40p in the short-term. That's still a 100% increase yoy (when some of us were buying). The directors own 25% and know full well their exit probably only comes with a takeover, not with share sales in the market. To them, it's about building the business and exploiting their market leadership which will result in a higher enterprise value if/when they get bought in 12-18 months time.

You're right that 140k is a substantial sum but if you add Peel Hunt fees of 5-10% on the full 840k plus roadshow costs of 20k plus 3 weeks of management time plus no guarantee you'll get a higher price at the end of it, what would you do?

And no, I haven't spoken to the FD about this - it's all my surmise of events. Having followed IGP for 2+ years, I know how good they are at managing cashflow in an exponentially growing business which incurs costs 1-3 years before you get the revenues so I'm willing to cut the FD a bit of slack for city naivite provided no long-term damage is done. However, if this happens again, then my not inconsiderable stake will be voted against his re-election at the AGM.

Oh, and it's the finals, not the interims that are being released in the next 2 weeks.

[aphrodites] 20/5/2007 16:02

Spooky

I am sorry I do not think WJCCGHCC is an excellent post.

All he has done is make a bundle of excuses for the F.D.'s bungled fund raising.

And to imply they are not concerned about their shareholders is about as stupid a comment as I have ever heard. Tell that to the marines and see what they all say when the company really does need financial help.

If it was all about exploiting their market position while they still have such a lead and maximising their return then why the bloody hell did they not say so and at the same time tell shareholders quite clearly that the cash outflow was higher than anticipated because the expansion plans had caught them on the wrong foot. I for one would have reacted quite differently to an honest admission as opposed to what appears at the present time to be a pack of lies.

So if Peel Hunt was not involved in the fund raising who was and why and when were they brought into the act?

It looks to me that WJC has been in contact with the company to tell them of the unrest and to ascertain the real reason for their raising the funds. All he has been told is exactly what they want to tell him and what he wants to hear. In fact it smacks of protectionism and covering someone's backside. I don't go for that at all.

I have deliberately not telephoned the F.D. because I am waiting to see what is said in the interim results.

My gut feel is there is more to this than meets the eye.

And if the interim statement gives us all a more positive progress statement and insight into how they are doing then I shall be the first to congratulate them.

Success in life is all about timing. To my mind I am afraid issuing shares at 33p for whatever reason in this case stinks of mismanagement and being taken to the cleaners. And I am sorry £140k is a substantial sum for a company like this whose track record has not exactly been a story of success until recently. I require a much better bedtime story than the one WJC is happy to have read to him at night and to send him happily off to the land of nod!

For me the jury is out and I will wait patiently for the verdict which will not be very long now.

[spooky] 20/5/2007 13:38

WJCCGHCC - An excellent post,i agree with every word.

I stated categorically on more than one occasion that they would not do a fund raising,i was 100% wrong.

I do however find it amazing that everyone is focusing on the negative aspects of this.A number of people were very bullish when the shares were in the 60's and 70's,the only changes since then have been the winning of more business and a £700,000 placement.If we had been told these would be the only developments and that we would be able to buy the shares in the low 40's we would have been falling over ourselves to buy the stock.

If you believe in the long term story then this is a heaven sent opportunity to buy,if you don't then that's a different story.

[wjccghcc] 20/5/2007 11:47

I think people are reading too much into this. The main points driving the decision to do the placing are likely to be:

1. They want to avoid dilution as much as possible and have always tried to keep costs as low as possibe. H2 was cashflow positive. At the time of the March trading statement, they felt they had enough cash to get through H1 which is usually cashflow negative.

2. Since then, the amount of work on existing contracts and business prospects (all the individual states are now looking at FRAC, Real ID etc.) not to mention the corporates who all want to move to HSPD-12 compliance has increased while the main US revenue sources (HSPD-12, TWIC) have been pushed back 6 months. The finals will show that while revenues are up 20%+, costs are up 35%+.

3. They have very little exposure to the city, with no broker following.

Minimising dilution, they only raised the amount they feel they need. The associated capital raising costs mean that a rights issue was always out of the question. They did the rounds of a couple of institutions a few months ago and I'd guess one was happy to invest but 33p was their price having missed the boat on the recent share price rise. I think you'll find Peel Hunt weren't used to find new investors (their involvement limited to stock exchange regulatory requirements) so placing costs were kept to a minimum.

If they'd done a proper placing with roadshow etc., I'm sure they could have done it at 40p. That would have raised only an extra 140k but a large chunk of that would have been eaten up by costs with significantly more time involved.

Yes, I'm annoyed that they didn't do this 2 months ago at the time of the trading statement and they've certainly put a dampener on the share price in the short-term. Having said that, I'm not sure they're that concerned - for them it's all about exploiting their market position while they have still have such a lead and maximising their return when/if they get taken over.

This was always an investment that wasn't going to start showing the big revenue rampup (and positive cashflow) until March 2008. Let's hope their cashflow planning is better going forward so we don't have this happen again.

[garth] 20/5/2007 09:13

Ram,

Not long to wait and find out for sure.

G.

[rambutan2] 19/5/2007 23:06

garth, i wouldn't (yet) rule out your auditors theory.

my experience with microcaps is that cash inflow can turn into cash outflow at inopportune moments.

[garth] 19/5/2007 22:19

So I did - thanks Jailbird. In which case I see no justifiable reason for the fundraising at such a steep discount and offer an apology to Aphrodites for pursuing it. I was in error.

G.

[jailbird] 19/5/2007 20:12

garth,

you missed this about the cash position. it looks like after the interims were closed in september the company has had cash inflow not outflow.

Following the progress made during the year, the Board expects revenue for the
full year to 31 March 2007 to be no less than 20% higher than last year, which
does not take into account the possible reporting of any late partner wins. The
Group has also been cash generative since 30 September 2006.