Intercede Share Discussion Threads

[garth] 25/11/2003 13:58

Old piece from the time pre-flotation. Note-worthy perhaps that the flotation value of the company following the bursting of the tech bubble was 50% above where it is now.
Substantial progress made over 3 years....

06 01 2001
Intercede float to defy gloom


INTERCEDE, an ambitious security software group, is to brave dire stock market conditions next week to try to raise £2.2 million in an Alternative Investment Market flotation.
Richard Parris, founder and executive chairman of Intercede, said that the timing of its float, the first in London this year, was appropriate for the company's development and not related to market conditions. "We have our own business to run and our own timescales,'' he said.

Mr Parris, who will own about 28 per cent of Intercede when it is listed on Monday, said that there were benefits in floating at the "bottom of the market", particularly in motivating staff with stock options.

The float issue price of 60p a share values Intercede at £9.8 million and raises £2.2 million to help it to roll out its "edifice'' IT security management software, used by customers such as Lloyds TSB. The world market for security management software, which helps companies to protect IT systems from external attack, is forecast by Datamonitor to grow at 46 per cent a year to $1.6 billion (£1.1 billion) by 2003.

Intercede, founded in 1992, also generates revenue by selling and installing third-party security products.

Intercede reported turnover of £1.14 million for its half year to September 30, of which £398,000 came from software sales. Software represented just £43,000 of sales for the entire 1999-2000 year.

BY CLIVE MATHIESON
©2001 The Times Newspaper

[garth] 25/11/2003 07:47

Just looking over results for small caps IOM & CYH this morning. Looking at their valuations and that of IGP I think the valuation gap is pretty clear. Significant upside here, IMO.

G.

[garth] 23/11/2003 16:10

Anyone picked up any weekend press?

G.

[grupo guitarlumber] 22/11/2003 10:57

Only Gossip:

A Rumour in the French Financial Journal 'Investir' give the impression that
Gemplus and Axalto(The Schlumberger Smart Card Subsidiary) might seek to get together.

[simonevans] 22/11/2003 09:33

Yes, but I am not sure that edefice sales have increased much versus the second half of last year. Never mind, that's in the past. What matters is what happens over the next 12 months or so - the price will only move significantly on positive news flow. Patience required until early 2004 imo.

[garth] 22/11/2003 07:36

Simon,

whilst sales were flat overall, the increase in sales of edefice which led to higher margins and therefore the more than halving of losses surely has to be interpretted as good news?

G.

[simonevans] 21/11/2003 22:26

Well despite the disappointing H1 sales results I've added some on the reduction in price - prospects looking up imo now that the company has its funding position sorted, a reasonable prospect of some big orders and a lowered cost base.

[garth] 21/11/2003 15:41

Thanks Maywillow,

A real tussle goin on today ;-)

G.

[maywillow] 21/11/2003 14:03

makes me feel hungery,your mention of flavours.

[maywillow] 21/11/2003 13:58

good luck with the thread garth.

Have a great Weekend.

[garth] 21/11/2003 13:28

Looking at the timing this one should be in the next results....? £300k first year value...... Where one leads will others follow?

Intercede Group PLC
25 September 2003

Intercede Group plc

Major UK Clearing Bank licenses Intercede's edefice

Major UK Clearing Bank licenses Intercede's edefice smart card and identity
management system in support of deploying Identrus enabled smart cards to
selected customers

Lutterworth, Leicestershire, United Kingdom-25 September 2003-Intercede Group
plc, today announces that a major UK Clearing Bank has signed a contract to use
Intercede's edefice smart card and identity management system to manage the
issuance of Identrus enabled smart cards and associated digital certificates to
selected customers.

This contract, with a committed first year value of £300,000, will be delivered
within six months of contract award.

Under this contract edefice will be integrated with both a third-party smart
card bureau and a third-party managed service provider to enable a highly
scalable and robust smart card deployment platform.

Intercede Chief Executive, Richard Parris stated, 'We are delighted to have
secured this important contract after a comprehensive competitive procurement
process. This represents a major addition to our customer list and a prestigious
reference site for edefice'.

[garth] 21/11/2003 11:53

I've added a new thread - not to replace this one. Just to add another flavour re. thread titles.

G.

[garth] 21/11/2003 11:33

Intercede Group (IGP) look a great little micro-cap play on the growing Smart Card and internet security markets.

I was amazed when I started looking at the company how little comment there was on the BB's. Other than some informative posting by Rambutan2 and Maywillow et al they look OVERLOOKED.

When the herd have done their feeding frenzy and trampled the ground you have to look a little further to find the gem. This looks just like it. The group have moved consistently towards positive cash-flow and profitability - that does not now look too far off. They raised over £1M during the summer and that cash hasn't been touched.

Intercede's Edefice(TM) solution is winning custom and providing increasing margins for the company through an improvement in its sales mix. That has helped more than halve losses to £200K over the period. Losses had already been halved last year. What happens to the price when they go cash-flow positive and turn profitable?

Other SMART CARD companies are looking toppy. This one looks ignored. The continuing press over identity cards should help to fuel the fire.

Mkt Cap: £6M
Cash: £1.3M

31 March 2005


Intercede Group plc


Press Release - Trading Statement

Trading Update for the Full Year to 31 March 2005

Intercede are delighted to report significant progress in the second half of the
year ending 31 March 2005. Several significant new contracts have been closed
and the Group's international distribution channels have started to generate
both revenues and new prospects. As a result of this success, we anticipate
being able to report financial breakeven for the second half of the current year
in both profit and cashflow terms. Additionally, we can report our largest ever
forward order book and sales pipeline for the next financial year.

Since 30 September 2004, the following orders have been received:

1. DoT Ireland

Intercede has been selected by the Irish Department of Transport to provide
its MyID smart card and identity management software for the secure
enrolment, processing and management of digital tachograph cards.

2. Gemplus

An order in excess of #0.5m has been received from Gemplus, a leading
provider of smart card solutions, for a major European customer.

3. RSA Security

Partnered with RSA Security to win an initial order with a prestigious
European aerospace contractor.

4. European Notaries

Secured a strategically important win with an Association of European
Notaries to issue smart cards to all of the notaries in that country.

5. The British Library

Following a public tender, Intercede was awarded a contract to issue smart
cards to all of the British Library's employees.

6. Major Russian Telecoms Company

After a successful test installation, the rollout of production licences
has commenced to a major Russian Telecoms Company.

Within the last few weeks, we have also been advised that we have been
successful in bids for a major US aerospace contractor, a major UK clearing bank
and a major European insurance group. Further details will be provided as
appropriate as contracts are finalised.

All of these wins are encouraging, although the US aerospace order is perhaps
the most worthy of note given the potential scale of the US Federal Government
market.

This is a major new market that is opening up rapidly as a result of Homeland
Security Presidential Directive #12 and the subsequent publication of the
FIPS-201 standards document on 8 March 2005. This publication opens the way to
the rebadging of all Federal employees with smart cards. This is a massive
undertaking and the major industry providers have started to build their product
portfolios in anticipation of the first Invitations for Tender being issued
later this year. MyID is perceived to be one of a small number of suitable
commercial products and the US Government demands multiple sources of supply.

The Directors believe that Intercede is in a very strong position to harvest a
portion of this market - we have the technology and the US partners either in
place or under late stage negotiations. Furthermore, recent Intercede contract
wins have led to the viral marketing of our reputation as one of the 'best
products' for the job within US smart card circles.

About Intercede

Intercede Group plc is a leading developer and supplier of smart card and
identity management software traded on AIM, a market operated by the London
Stock Exchange (IGP LN) (IGP.L). The Group's MyID(TM) software manages the
secure registration, issuance and lifecycle of digital identities for a wide
range of uses. This requires the integration of multiple technologies and
products from many different vendors, including smart cards, biometrics, digital
certificates and Open Platform applets.

Intercede's customers cover a range of industries and include Athena Smartcard
Solutions, Barclays Bank, BEWAG, Department of Transport Ireland, Fujitsu,
Lloyds TSB, the UK National Health Service (NHS), the Metropolitan Police,
PinkRoccade, Royal Bank of Scotland, RSA Security, Ubizen and various US and UK Government agencies and departments.

Edefice™ Overview

Powerful smart card and identity management software
Edefice is a fully customizable card and identity management system that unites the power of smart cards, tokens, biometrics, public key infrastructure (PKI), applets and a host of other technologies - creating smarter identities. With its open XML based architecture, easy-to-use policy driven interface, card and PKI vendor independence, edefice sets the standard by which other digital identity management systems can be measured.

Edefice includes many key features that help address the administration and infrastructure demands of deploying, migrating-to and managing devices and associated digital certificates, applets and user information.

Check out the opinions of others with a longer aquaintance with the company:
Existing thread (Rambutan2):


Smart Cards (Maywillow):

Other Links:
Athena solution powered by MyID:

Thales Safesign powered by MyID:




Gemplus SafesITe smart card management powered by Edifice:


This represents my opinion only. Do your own research.
Not advice to buy or otherwise - simply to take a look before the tip sheets do

G.

[garth] 21/11/2003 08:16

Well, going on yesterday's trading all this needs is a tip sheet or broadsheet to notice the growth potential here and the climate will turn Amazonian. Seedling planted.
Those who bought this as a seed have been heavily diluted, but the market cap is comparable to that at the time of flotation. The business looks (to a new and therefore still significanty uninformed investor) to have made significant progress and towards cash+ and profits in what is set to be a boom marketplace - Smartcards.

G.

[rambutan2] 20/11/2003 22:28

simonevans, there were only 24k shares traded and the fell came after 13k were sold mid morning. this has been moving up and down a penny or two on similar size sells/buys. the report says some sales delayed but still expected i think, and gross margins of 82% are pretty good. its nearly made it into profit. arent you tempted?

[simonevans] 20/11/2003 21:54

sales and gross margin were actually lower than the second half of last year - presumably, that's why the share price fell.

[garth] 20/11/2003 17:34

Ram,

that makes you and I the only buyers today. Lets see what happens in the morning....

G.

[maywillow] 20/11/2003 17:17

chuckle

and the best of luck

sincerely yours

MW

[rambutan2] 20/11/2003 17:14

just to make my point i bought a grand total of 2k right on the bell. so there!

[maywillow] 20/11/2003 17:03

what do they know.

you have the few

and you have the herd.

the leader is always the Ram that leads the few at the beginning and the many as time goes on.

No doubt you have heard that before.

Courage.