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Intercede Group Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Intercede Group Plc LSE:IGP London Ordinary Share GB0003287249 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 52.50 35,284 08:00:00
Bid Price Offer Price High Price Low Price Open Price
51.00 54.00 52.50 52.50 52.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Security Services 9.93 0.72 1.30 52.50 30.32
Last Trade Time Trade Type Trade Size Trade Price Currency
10:52:31 O 35,284 53.75 GBX

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Date Time Title Posts
17/5/202312:53Intercede - global leader in identity management4,261
03/3/201908:21Intercede - overlooked SMART CARD & DIGITAL ID micro cap1,090
19/8/200923:23Intercede, 100% losses on this hyped up tech stock36
04/8/200823:04My next tip of the year10

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Intercede (IGP) Most Recent Trades

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Intercede (IGP) Top Chat Posts

Top Posts
Posted at 14/5/2023 12:04 by earwacks
The last update was indeed 3 weeks ago about a binding agreement to subscribe to £1800 to a share incentive plan. The rns cost about £400!the only contracts they ever mention seem to be with the FED. All eggs in one basket. The revenue is paltry. What are they going to buy that will make a significant difference to that. They dont seem to be able to address breaking into the less lucrative and more competitive market lower down the ‘pyramid’; which was their stated aim last couple of years. Maybe they will spring a surprise and prove me wrong but the market doesnt seem interested in cybersecurity across as a sector, whilst governments have been increasingly warning companies to get protected, but no evidence of much growth as yet. Swg effectively delivered a catastrophic profit warning along with a couple of others. Darktrace is a total enigma since listing. A very unpredictable sector. There is plenty of momentum building in other sectors which i have been buying into recently and dont want to miss out on. As so often happens Igp may well fly. I sold into the last small rise unfortunately missing the 77p high though. Doubt I would have got that price, but out with a small loss after 2 years. Before that I sold my bulk at well over £1. Really disappointing that the last rally has lost momentum . Anyway good luck all not saying I am right about anything, just lost parience within sector
Posted at 14/5/2023 09:09 by ianhamo
The only downside at the moment I see. Is how they fund the next acquisition. Probably an issue of more shares, but at what price?
Posted at 18/4/2023 07:29 by zipstuck
Well a £2.8m cash improvement bodes well for IGP. I expect a further acquisition soon and a big improvement in profitability in FY 24
Posted at 17/4/2023 15:27 by rambutan2
A bit of growth all round - rev, profit and cash all up:

Trading Update
Intercede, a cybersecurity software company specialising in digital identities, provides an update on trading for the year ending 31 March 2023 ("FY23").

As outlined in the announcements of 23 January 2023 and 3 April 2023, Intercede's underlying trading performance has continued to show strong momentum. The Group is pleased to announce that, subject to the completion of the year end audit, revenues for FY23 are expected to be just over GBP12.0m (2022: GBP9.9m), approximately 21-22% higher than FY22 (12-13% higher on a constant currency basis) and, as announced on 23 January 2023, ahead of market forecasts(1).

The combined effect of increased revenues and tight management of costs under the Group's control, is expected to result in improved profitability, subject to completion of the year end audit.

As at 31 March 2023, gross cash balances totalled GBP8.3m (2022: GBP7.8m). This is after a cash outflow of approximately GBP2.3m relating to the acquisition of Authlogics, announced on 10 October 2022. The Group has no debt.

Further details will be provided within Intercede's final results which are expected to be published in June 2023.

(1) The Board consider the current consensus analyst forecasts for the year ended 31 March 2023, prior to this announcement, to be revenues of GBP11.9m and adjusted EBITDA of GBP1.0m. Adjusted EBITDA is defined as earnings before interest, taxation, depreciation, amortisation, IFRS 16, share based adjustments and non-recurring exceptionals.

Posted at 19/3/2023 20:28 by ianhamo
Nice to see IGP mentioned, pity there's no actual figures mentioned in their forecasts.
Posted at 26/1/2023 15:58 by ianhamo
Posted at 12/1/2023 00:33 by earwacks
It’s extraordinary. You would think that would be enough to shift the price up a couple of p. Sometimes you see a sell for a couple of thousand and the share price tanks. It is a game of patience. They must be building up a loyal following of highly important money no object clients. It is already a quite staggering list. I think they realise that not everyone needs bullet proof security of some complexity, so have worked out a range of cheaper options. Quite surprised they have not been bought out yet. Interesting that Darktrace have warned of headwinds. That’s not quite what I’ve heard in the trade. The problem for them is they are not prepared to offer systems that integrate with other firms products. They want control of the whole system. Klass bought quite a lot last year. He said they had one not so good quarter out of twelve and got slammed.
Posted at 24/11/2022 18:06 by earwacks
Not too concerned. Looks more like another distressed fund manager selling like we had on cnic yesterday. Fundamentals are sound. The guys on SMT were also saying how share prices in this climate are not reflecting how well businesses are actually performing. Wish I had more spare cash to invest. Cracking bargains appearing everywhere
Posted at 15/10/2022 10:42 by robsy2
Ok the incentive plan. It has two parts and a max award of 4,065,705 shares.

"following the grant of Options and the Growth Shares (assumes maximum award), the Company has a total of 4,065,705 options over Ordinary Shares outstanding, and by including SIPP shares, it represents approximately 8.6 per cent. of the Company's issued share capital."

At their absolute discretion, the remuneration committee can award more shares to whoever as and when they see fit.

I don't see a breakdown between the growth shares and the option granted shares . We know that the option share are 1,000,000 shares split 50:50 between Klaus and Nitil the CFO.Maybe this is wrong, but that suggests that the remainder of the 4,065,000 shares ie 3,065,000 shares are growth shares.

So how do the growth shares vest ?

If they can get the share price up to between 121p and 173p by 60 days following the release of the 2025 Annual results, ( so approx 08:06:25+ 60 days = 08:08:25) , then they vest from 0-100% . This looks quite interesting for the ordinary shareholders, given where we are right now- circa 50p. I'll take that.

The option granted shares (1,000,000 shares ) vest if the share price goes to 121p at any time between 10.10.25 to 09.10:32 with a strike price of 38p . Looks very do-able for them , if they go the distance. Not terribly interesting for the rest of us.

On balance , it looks ok . I'll be happy if they get their growth shares in full.
I think that is right but if I have made mistakes here , please let me know.

Posted at 27/4/2022 13:39 by earwacks
I think the boot has rather shifted to the other foot. When I emailed David around Christmas time he was concerned that the low share price of SWG could leave it prone to a takeover. However since then its IGP that has dropped although its PE is still well ahead of SWG. They are both a bit small in my opinion to attract a take over and they are both quite specialised in their own areas. They are both without debt and have a reasonable cash pile. I suggested to Mr Williams then and again today (after congratulating SWG on results) that they should consider merging with IGP. WTF do I know lol. They have both recently opened offices in Amsterdam, they are both looking to expand in Europe. IGP hope to explore Asia to. They both operate through integrators through a third party I believe. IGP have a whole network of partners across the globe. They must be able to cross sell and have significant synergy savings from a merger rather than overpaying for another tiddler, that would take time to integrate and be more risky. Anyway no comment then or now. SWG is seen by Mr Williams as an early stage company with grate potential to grow. He admits that its early reputation as being not very well managed when he came on board as still hurting the company. They have gone a long way to fixing that. IGP has been around a bit longer and again due to poor management came seriously unstuck. Klaas has turned the company around. As he says they have had one bad half year out of the last seven but the company has now paid off loan notes is cash generative, no debt and has unique, virtually impossible to copy identity cybersecurity product with a multi billion dollar market to pursue. The trouble is its a bit like selling insurance. Nobody really ants to pay for it. Now so many companies are having security breached, not only facing catastrophic disruption to business but also massive fines, they are slowly working out that security is a much cheaper option.
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