Intercede Share Discussion Threads

[aphrodites] 10/12/2010 10:21

FELIX

It's up to shareholders to make their views heard.

I know the FD of IGP looks ADVFN so perhaps he might take note.

After all he is responsible for the statements to the market.

Got to dash now. I am off to the Surrey County Cricket Club Xmas lunch.

With a bit of luck the Aussies might get another good thrashing from the guest speaker!!

Come on guys buy a few more shares while I am away from my screen!!!

[igoe104] 10/12/2010 10:13

All this worry about cyber-crime is music to my ears, alot of companies like mastercard, paypal and other banks are going to to make the computer systems more secure to protect their confidential data. as well as government systems (especially the usa govenment). im expecting good business, in this area over the next 12-18 months.

[felix99] 10/12/2010 10:13

Thanks Aphro - I meant 50k shares.

If you think IGP is iffy way they have done buyback you should look at CCT. Talking hundreds of thousands of pounds and more that company bought back off director and main shareholder at mkt price when discount would have been enormous for normal sales

[237gmoney] 10/12/2010 10:01

Great to see this share finally get what it deserves. Still following from the sidelines and looks like it should finally make the magical £1 mark next year.

Just a shame it took so long! Keep up the good work guys.

[aphrodites] 10/12/2010 09:57

WJC & FELIX

So why not make a clear statement as to what was behind the purchase?

And why should the staff of IGP be put in a privileged position when selling their shares?

Whenever I took up my share options the company never offered to stand behind my buys or sales. I was in there with the rest of the market. But they did make a bank facility available for me to buy and sell.

You know as well as I that normally if you wanted to sell 50k shares in the market you would do so at well below the bid price. So why should IGP underwrite it with shareholders cash?

I commented in a previous post about creating a false market in share dealings. Having myself been party some years ago into an enquiry in another market about a certain large trade I was behind, I am particularly sensitive about such transactions.

As for the timing of my buy yesterday and reasons, it was the first time I was offered size and bid at my price and the seller delivered.

And I only invested £33k not £50k.

[felix99] 10/12/2010 09:21

Aphrodites - I think you are making a meal of the buy back.

They have just done it to facilitate an orderly sale of the employees option shares.

If they all sold 57k independently they would trash the price with little in the way of buyers and MM's have no appetite for stock so IGP will have wanted to avoid that and any hassle where one staff member got say 58p but others got 55p or whatever.

Also remember a lot of staff members would not have the ready cash to exercise so I am sure the company has made it easy and done it all through broker so they just get a check for the difference rather than having to stump up to buy and then wait for a bigger cheque back on sale.

Have a look at Mr King at CCT - frequently in the past he used share buy backs to flog his shares in the mkt and substantial numbers as well.


Interesting why you have suddenly decided to throw 50k in at 67p Aphro as well - why didn;t you want to test the resolve at 55p etc ????

I was going to try and add at 58p or so but never quite got there on that last dip.

Nice high though - been tipped today or is it your 50k that pushed the market Aphrodites.

TIA

[rivaldo] 10/12/2010 09:15

Has IGP been tipped, or is this just a long overdue re-rating (or just a reaction to Aphrodites' 50k purchase yesterday?!). Good to see anyway.

[wjccghcc] 10/12/2010 09:01

Aphrodites, I think you might be reading too much into the buyback. When I've discussed options with them in the past, they said that when they originally put option schemes in place they found their employees weren't very interested and would much prefer cash bonuses. That's why no options have been granted since 2002.

The 2001 scheme expires this month, and all the 187k options were exercised at 47p. Walker has kept his 128k but the employees holding the remaining 59k wanted the cash so IGP bought their vesting shares at the market price.

I don't get the impression this is the start of a sustained share buyback scheme at the moment. Of course, with cash heading towards £6mm, they may well start one next year...

[aphrodites] 10/12/2010 08:44

Archa

Either the company is poorly advised or there is something more purposeful about them making an announcement that they bought their own shares in the market.

There is nothing technical about a deal of that size.

If the company came out openly and said it was going to buy back say 2% of its stock in the open market it would be better than leaving the transaction with a big question mark hanging over it.

Incidentally, I bought 50,000 shares yesterday at 67p or better.

I decided it was time to test the determination of the seller who quite clearly was offering a line at 65p.

With a good write-up by the company broker,other broker and media buy recommendations and the company making a statement about its intentions to buy its stock in the market I believe the share price could easily test the £1 level by the end of January if not before.

[archa] 09/12/2010 16:38

Precisely, I suspect it is for a relatively minor technical matter, although I have no idea what.

[aphrodites] 09/12/2010 15:21

We haven't seen this sort of volume for a long, long time.

Could someone be trying to get IGP to show how intent it is on buying its own shares back?

As I asked the other day: And now the company enters the market to buy the odd 58,000 shares. Why? What is the purpose of this exercise if it doesn't follow up the buy?

With their money burning a hole in their pocket what is the purpose of spending a miserly £37k?

[igoe104] 09/12/2010 15:12

Interesting battle going on today between a buyer and a seller.

I wouldnt be surprised to see mirosoft take igp over, because it would give them full control of the market.

[igoe104] 08/12/2010 05:11

worth a read.

[wjccghcc] 07/12/2010 23:11

My understanding is that it was the third time Herald had approached the company to buy a stake, and it was decided that it would be best both for credibility and future flexibility to have an institution of their standing on board. Given their history, IGP feel a strong bond with their longer-term shareholders and are keen to avoid diluting them unless absolutely necessary. Therefore the shares had to come from Parris. Also, that's why they bought the 58k new shares issued to the employees who wanted to cash in their options.

Regarding Aphrodites options, my view is 1) yes there will be a FY dividend 2) They won't move to the main market - too much expense for very little benefit in their case 3) They have looked at acquisitions to add to the MyID platform but it's hard finding ones that don't compete with their major clients.

With their competition seemingly imploding, the market will soon be between IGP and microsoft. My endgame here is that within two years, IGP are into double digit revenues giving EPS of 8+p. A takeout by IBM or BAE on a PE of 20 gives a similar target to Aphrodites.

[aphrodites] 07/12/2010 21:56

fft & Archa

Re both your comments : "A smart move for remaining shareholders" & "this share is very illiquid".

If you look back at my post 2470 you will see I endeavoured to make exactly your points but from a different approach.

The business has made massive strides towards profitability but the stock remains illiquid.

Despite the CEO selling a few of his shares to Herald no other institutions have been brought on board. Any why? Because the share remains illiquid. So what was the reason for selling to Herald in the first place? What did it achieve, unless the Board has another agenda?

And now the company enters the market to buy the odd 58,000 shares. Why? What is the purpose of this exercise if it doesn't follow up the buy?

I suggested some weeks ago that the company is at the crossroads and has to make several big decisions. (1) Pay a dividend. (2) Move to the main market. (3) Make an acquisition requiring the issuance of more shares requiring new institutional backing.

There is of course one other decision and that is have a management buyout or force a takeover.

And the former does happen when the market does not value a company according to its prospects.

The time is fast coming when the Board cannot just sit back on its backside and take the shareholders for granted. Cash is building up in the balance sheet and the CEO needs to give an indication to shareholders of what its future business plans may be to use this.

The share offers very attractive potential and I have every hope of seeing this around £1.50.

[archa] 07/12/2010 15:41

Re: post 2468 "Good to see a share buyback announced today." Why good? This share is very illiquid and I fail to see why it would improve it to make it even more so. Apart from that consideration, the number of shares involved, 57,975, hardly constitutes a serious buy back.

[fft] 07/12/2010 14:28

The kind of thing that might make share buybacks by IGP a smart move for remaining shareholders...

[igoe104] 07/12/2010 13:49

Just out from the press.

[accumulat0r] 07/12/2010 13:19

I see Giesecke & Devrient's North American subsidiary at 45925 Horseshoe Dr, Dulles, Virginia is about 5 miles from Reston Town Center, Dulles – which is where Intercede's new office is.

So not too far to travel for meetings.

[igoe104] 07/12/2010 10:24

I remember the same thing happened with lockheed martin, we did all the employees first then we got involved with twic soon after. hopefully the same will happen regarding the german health card ?

[igoe104] 07/12/2010 10:10

What im thinking will it lead to other contracts like, being included in the german health card project ? which will involve 80 million germans. which g@d are involved in and the project needs to be made more secure because its to easy to hack.

this is worth a read as well.


working with smartcard makers Oberthur and Giesecke & Devrient to create an open specification with which multiple manufacturers can secure contactless transactions between transit passes and physical access controls such as turnstiles.

[yump] 07/12/2010 08:31

Looks like that dip before results was a good time to top up. Anyone for bit of momentum investing ?

[wjccghcc] 07/12/2010 07:54

Yup - fantastic advert for MyID. G&D is one of the big 3 smartcard companies (along with Gemalto and Oberthur).

[fft] 07/12/2010 07:19

stunning contract win. Probably small in revenue/profit terms, but this must be close to selling coals to newcastle in security terms.

Having the approval of your peers in this way is a huge thumbs up, and may make others take a look.

wonder if G+D thought about buying IGP. would seem to be a good fit.

[aphrodites] 06/12/2010 10:12

A very interesting decision by the company to buy its own shares back in the market and it could be seen as quite sensible and positive with all the cash in the balance sheet.

But one has to question if the intention of the purchase was to put a floor on the share price and throw a challenge out to the seller who has been playing games in the market.

It also removes any concerns that the FD is going to sell at the present time. At least at 63p!

It doesn't of course answer the question as to whether the staff who also exercised their options were on the other side of the sale.

What concerns me more is that the company broker does not have the faintest of ideas about what has been going on in the market and has suggested this as a means of trying to stabalise the price fluctuations. And quite clearly it couldn't interest any new institutions into buying and coming on board!

The big danger of course is that IGP will be creating a false market in its own shares.

Let's face it where would a normal buyer be able to get hold of 50k shares in the market in the middle of the trading range?

Was it the only buyer and was this the reason for the price to move back above 60p?

And how many more shares does IGP intend to buy back?

If it does buy more does this raise the question that it doesn't have any acquisition plans and is just looking for someone to buy it?

And it only has to indicate it is after another 200k shares and the price would be up to 80p.

While this can be seen as a positive move by the company it also leaves a lot of questions unanswered.

I would prefer the CEO to say it is the Board's opinion that the current share price in the market does not reflect the true value of the business and this is why it has bought shares back in the market.

After all it might be cheaper to buy its own shares back as opposed to paying up to buy another company.