Intercede Share Discussion Threads

[wjccghcc] 26/5/2009 14:44

It's six of one and half a dozen of the other.

On the one hand, if they don't convert, then the #shares remains at 37.5mm. With a profit of 1mm, that gives EPS of 2.7p and a historic PE of 15. But they'll use 2mm of the 3.7mm cashpile redeeming the converts so clearly it make the Balance sheet not quite as strong.

On the other hand, if they do convert, then #shares weill be 48mm approx. With a profit of 1mm that gives EPS of 2.1p and a historic PE of 19. Plus we might get an overhang although they'll still have the 3.7mm in cash so clearly the balance sheet will be stronger.

[237gmoney] 26/5/2009 13:59

When share options expire or in this case convertable loans, does the company not have a duty to inform shareholders of the outcome immediately as it could be deemed to be with holding price sensitive information?

31st may is the last day so I am expecting news by the end of the week or possibly by Monday morning next week at the latest (31st is on a Sunday).

If they holders do not convert (very unlikely as they double their money practically straight away - although would have a job selling their stake for double their money price) it will cost IGP £2m or there abouts which to my mind is very price sensitive information.

If IGP have to stump up the cash all it means is growth will be harder as there will be less cash in the bank. Therefore by deduction, it will be a positive move if the holders do convert.

[igoe104] 22/5/2009 16:51

YUP, ITS GOT TO BE the same team that took on the TWIC project.
could be a nice on-going earner just like the twic project, igp just seem to to going from strengh to strengh and just continue to pick contract after contract on a regular basis.

The whitehouse is asking for 200 million to build a massive biometric data-base so the can keep checks on all prisoners. as soon as this is agreed we hopefully hear the good news, along-side the lockheed team.

[accumulat0r] 22/5/2009 16:28

As it's the Department of Homeland Security's project, I'd have thought there's a good chance the companies doing the TWIC job would get the prison job as well.






Texas prisons checking immigration status

Associated Press - May 19, 2009 2:35 PM ET

HOUSTON (AP) - Officials say Texas' prison system is the first in the country to start checking an inmate's immigration history by running fingerprints through a new federal program.

As of Tuesday, all prisoners booked into the Texas Department of Criminal Justice's intake site in Huntsville will have their fingerprints checked with the U.S. Department of Homeland Security's biometric system for any immigration record.

Any matches with the biometric system are reviewed and appropriate action is taken after a prisoner completes his sentence. Top priority is being given to illegal immigrants who have prior convictions of major drug offenses, murder, rape, robbery and kidnapping.

Eventually, all 24 Texas prison system intake sites across the state will have this capability.

[237gmoney] 22/5/2009 15:30

Any idea who's got the main contract igoe? Lockheed? Thales? its a contract that will keep moving as well as prisons see people come and go.

Would also make sense as once someone leaves prision they could keep the card and use it like an oyster card when they want to come back in again! :o)

[igoe104] 22/5/2009 15:19

They are starting by running the system in texas first, then if things work out well run it all over the country.

with it involving a data-base, and being a homeland security project, id be very very surprised if igp are not involved.

[boadicea] 22/5/2009 14:57

Very interesting.
That means (assuming life expectancy of ~70yr) the average US citizen will spend 6 months in gaol.

[accumulat0r] 22/5/2009 14:49

I found the figure of 1 in 140 astounding too but after doing a little searching, I see it's true!





7 April 2006

"The world's biggest prison system. .......... More than 2.1 million people are in jail in the US at any one time; that is about one in 140 Americans, or as many people as live in Namibia, or nearly five Luxembourgs - and it is a number that continues to rise."




That was 3 years ago. So there'll be even more in US jails now!

[cambium] 22/5/2009 08:42

1 in 140 people in amercia live in prison

astounding

[igoe104] 21/5/2009 17:16

A little bird has told me amercian prisons are going to use biometrics with a data-base to keep information on prisoners.

should be a nice earner for igp.

1 in 140 people in amercia live in prison.

usa has a population of over 304 million.

could be 2 million + and on-going.

[rivaldo] 19/5/2009 10:40

Excellent European contract bank win whilst I was away on hols.

Some shares need to be tucked away and left to prosper over time. This is one of them.

[igoe104] 19/5/2009 10:29

RESULTS out in the next 2/3 weeks this should go past the 50p easily, and with the market they are in, they should have continued news flow, with new contracts popping up all the time.

[boadicea] 19/5/2009 10:14

I cannot understand why there is any real doubt that the convertible holders will convert.
Agreed, they may want the cash, but in that case they will have hedged by selling their upcoming converted shares forward into current market strength.
Personally, I would rather they took the cash and avoided diluting the rest of us but cannot see that happening.

[cambium] 19/5/2009 09:14

RCG flying over the last two days too

[237gmoney] 19/5/2009 09:05

Archa, my understanding is the loan note holders have the option to convert their loans upto the 31st May 2009 at either 15p or 20p a share. If there is no RNS to state that this has happened before the 31st May then IGP will have to pay cash instead. The company has been very good over the last year or so with information released to the market so I would expect a RNS either way.

we hope that the loan holders will convert as its better to keep the cash in the bank but its not the end if IGP have to pay up as they have the cash ready and Im sure it would not be a problem to borrow more money from the bank now that the company is making a profit and cash flow positive on a monthly basis.

The 500,000 euros from the last two contracts will also help in the short term.

[archa] 18/5/2009 16:49

237gmoney, I do not understand the third paragraph of your post 1300. Surely the convertibles cannot be sorted until 31st May at the earliest as I assume only at that stage will the company know what amount of stock has not been converted and therefore must be bought out for cash. I have tried but failed to find out what precisely are the terms for conversion, namely between what dates can a loan stock holder convert. I suggest that you may have to be patient until the end of the first week in June, by which time the company will no doubt know the figures attached to the conversion / cash payment exercise. I think that this timing ties in with the fact that the company announced that the final results would be "... ... issued by the middle of June", they could then comment accurately on the results of the conversion / redemption exercise.

[237gmoney] 18/5/2009 13:52

No it hasnt but there are more employees now working for the company which means more friends/family etc. these are the people who are probably buying at the moment because the size of trades are not very big.

[spooky] 18/5/2009 12:57

It's not been leaky in the past.

[boadicea] 18/5/2009 12:34

I see little posibility of convertible holders not converting even if they then off-load at a discount although one hopes they would choose to hold. Given the consequent availability of a/some large block(s), they might even get a premium from an eager buyer.
Also, the increased liquidity from more shares in the market will not necessarily be a bad thing.

If this share is 'leaky', perhaps today's buoyancy implies further imminent news?

[237gmoney] 18/5/2009 11:59

Couldnt figure out how to post the graph so put a link to it instead. 50p seems very close. at that price the company is worth in the region of £19m. With sales of around £5m and cash of around £3m that seems fair value. If the company can look to double sales/cash and profits over the next 1-2 years we could hit the £1 a share mark but all if, buts and maybes...

[237gmoney] 18/5/2009 11:46

Not IGP. 1.2billion cards would be a monster of a contract and the concept that IGP use with delivery of the ID cards could work but unlikely to get something of that size.

Spread has increased - not 46p buy and looks like we are heading for a breakout of the current resistance in the mid 40's....

The convertables needs to be sorted quickly. two weeks left and I would rather they didn't wait till the last minute to announce it to the market.

MM's are keen to increase the price on small trade so maybe trying to get a better price for the loan note holders? or tempt them into keeping them?

[pyman] 18/5/2009 10:10

It would! I cant see who has provided cards or software in the pilot. Anyone know?

[237gmoney] 18/5/2009 09:23

A smartcard for every indian. Would be a nice contract to have.

[igoe104] 14/5/2009 15:45

Great news, igp seem to be picking contracts regularly now, in different areas as well, banking, health, id cards, government,etc the good thing is id expect alot more banks to follow suit when they see that the software works well in the banking industry, so expect lots more contracts to follow globally.