Intercede Share Discussion Threads

[zipstuck] 13/4/2018 07:49

New CEO sales based so Parris was probably pushed because they are still behind the curve

[rambutan2] 12/4/2018 19:53

Liontrust been selling. Below report shows that at end April 2017 held 3,849,166, whilst yesterday they'd reduced to 2,458,275 (4.87%).

[rambutan2] 12/4/2018 13:52

Announced yesterday:

Appointment of Chief Executive

Intercede, the software and service company specialising in identity, credential management and secure mobility is pleased to announce that Klaas van der Leest has been appointed as Chief Executive with immediate effect.

Klaas is an experienced executive with extensive sales, marketing, business development and general management experience in IT and IT services. He has significant international knowledge and experience as a result of various roles with remits across EMEA, Asia-Pac and North America.

Klaas has worked for a number of large and small, quoted and privately owned organisations in market leading and turnaround situations including CA Technologies, Intelecom UK, Amulet Hotkey, Global Crossing, Attenda and Logica. He has proven expertise in the development and execution of national and international sales growth, 'go to market' initiatives and customer focused expansion strategies.

Chuck Pol, Non-Executive Chairman of Intercede said:

"We are delighted to secure Klaas as Intercede's new Chief Executive. He has an outstanding track record in driving sales, service delivery and operations across Cloud, SaaS, Managed Services, IT Services and Software Businesses."

[rambutan2] 05/4/2018 15:00

For ref, the CLNs listing:





Although can't get a price unless a member:

[garth] 04/4/2018 18:31

Looks like a positive update, well received.

G.

[daz] 04/4/2018 12:33

Could he have been pushed? With most of the development done, it could be that someone wanted a person with more cost cutting credentials

An RNS just before the year end is always a little suspect in my view, it's quite possible they've offered an inducement to sign to meet revenue targets.

[jailbird] 04/4/2018 07:51

Yes that is.

Maybe he is approaching retirement and winding down.

RNS today..still reading through whether that will make the Co profitable after the cut in the cost base.

[rambutan2] 29/3/2018 09:57

A surprising turn of events, to say the least...

Board Changes

Intercede, the software and service company specialising in identity, credential management and secure mobility, announces the following Board changes. Richard Parris, Intercede's founder, is ceasing his roles as Chairman and Chief Executive of the Company and will become a Non-Executive Director with immediate effect. Chuck Pol, currently a Non-Executive Director of the Company, has been appointed as Non-Executive Chairman. The Board is currently undertaking a search for a new Chief Executive and a further update will be provided to shareholders in due course.

Chuck was appointed to the Intercede Board on 1 June 2017. He was previously Chairperson of Vodafone Americas, a role he held since 2013 and in which he led the development of applications for the Internet of Things ("IoT"). Chuck joined Vodafone Americas as President of its Global Enterprise division where he built a US-wide mobile business focused exclusively on Enterprises. Prior to Vodafone Americas, Chuck held senior roles at BT Americas including Chief Operating Officer and President. On leaving BT in 2008, Chuck was President of BT Global Financial Services where he was responsible for BT's relationships with the top 40 global investment banks.

Chuck Pol, Chairman of Intercede said, "On behalf of the Board and shareholders in Intercede, I would like to thank Richard for his many years of service to Intercede. His vision and hard work have helped make the Company what it is today and we look forward to continuing to benefit from his experience in his role as a Non-Executive Director."

[julianc35] 09/3/2018 09:22

StockMarketWire.com - Intercede announced Friday a major healthcare provider in the US has selected Intercede's MyID product for deployment as its new identity and credential management infrastructure.

The firm said the contract will have an initial order value of $300,000 including advanced support and maintenance fees.

Under this contract, MyID will be used to issue tens of thousands of digital credentials to healthcare professionals across the group on smart cards and mobile devices.

Richard Parris, Chairman & Chief Executive of Intercede said: 'This is Intercede's third large US healthcare customer to have been secured in recent years and it demonstrates the applicability of our technology in regulated markets. I am particularly pleased that the recent investment we have made in partner management and support is starting to generate a financial return.'

[yump] 28/2/2018 16:36

I think the issue is whether they can make a profit from the (any?) business model, given the years of not doing so and whether they have to keep reinventing, which then only gives a short time period in which to cash in on the investment in the new products/market.

Its quite an old problem for tech. businesses.

What is unclear is exactly how unique their product is. If it was that unique, then surely a modest increase in cost per employee could or should have been made, so that they ended up in profit. So there is clearly an established limit on that pricing that is not in any way controlled by IGP.

[ianhamo] 28/2/2018 15:51

Anyone know what caused yesterday's 20% drop!?

[hybrasil] 27/2/2018 12:06

Still way overvalued based on its turnover.

[jailbird] 20/2/2018 21:18

Do not forget guys, these performance targets

Several significant appointments have also been made to strengthen the Group's Sales & Marketing. Chuck Pol (former Chairperson Vodafone Americas) and Helen Adams (former VP Sales Europe & Asia/Pacific for ARM Holdings plc) were both appointed in June 2017 with further recruitment subsequently taking place to expand and refresh the Sales team. As a commitment to achieving consequential high sales growth, Helen Adams has this week agreed to a share option plan incorporating performance targets based upon the achievement of 50% growth on FY2017 revenues in FY2018, a doubling of FY2017 revenues in FY2019 and a tripling of FY17 revenues in FY2020.This is the foreacst by the the new BoD

FY17 revenues 8.3M

FY18 - £12-13M 50% increase on FY17
FY19 - £16-17M doubling of FY17
FY20 - £24-25M tripling of FY17

If costs per year are approx 12M and remain the same

So I expect best case case breakeven...but maybe a small loss since I am unsure of current revenues figures

[rambutan2] 20/2/2018 02:54

Pretty rubbish piece in today's London Standard...

[daz] 14/2/2018 20:28

Great work Ram, that certainly is encouraging

[rambutan2] 14/2/2018 19:10

Re the Middle East contract. I was thinking that it was likely an update for Kuwait, which IGP were involved with in 2009. But having had a quick dig, I'm now thinking that it is for UAE, which is good news.

[yump] 14/2/2018 18:15

£17mln is one heck of a jump. Perhaps it will generate a bit more interest.

With the level of investment they are undertaking I think the key question is who else is working on this with a much bigger budget. Because its a lot of investment if you haven't got a very good foothold and IP that you're very sure about.

I was just looking at this contract:

"Under this agreement, Intercede will supply its MyID product for over 10,000 employees in addition to recurring support and maintenance services. The deal is worth more than GBP250,000 over a three-year period with most of the value accruing in the first 12 months of the contract period."

So that's a one-off of £25 per employee. Way less than the cost of MS Office, or annual McAfee ?

Something doesn't seem right about that, given that the average carrying cost of an employee is what, £50,000... and the risks are very high.

Be nice to know what the recurring services are worth.

Are they having to price like that to compete ?

[nibble] 14/2/2018 15:48

yump/Daz - agree with you both. RP has kept this Co going for quite a few years and the share price has rarely dipped much below where it is now (not sure when the various placings occurred, though). My view is that it's a fair risk to take a small position at these levels, provided you're the patient type. You never know if one of the industry majors might want the IP bad enough to take the whole Co. That's where I see the potential for greatest returns.

[daz] 14/2/2018 14:05

Yes, they are definitely treading a fine line as regards another placing.

Forecast revenues for 2019/2019 are £16.9m and for a minor loss, so if they achieve that they will be in a good position to move into profit the following year, in which case I'd expect the shares to be much higher.

The trading update talked about sales being deferred and while some of that is already factored in, this has to remain a significant risk. If revenues do fall short next year, a placing looks inevitable.

I bought a few yesterday but with my eyes open.

[yump] 14/2/2018 08:33

Seems to me they'll need a thumping increase in revenues to get to profitability, although I'm not really up on what really caused the losses in previous years.

Just looking at that £11mln revenue previously, that still had £2mln of losses.
Fair enough, expenses rose because of investment in infrastructure, tech and sales.

They did make a small profit on £8mln of sales once, but that level since has led to big losses.

So I wonder whether its just a never ending process of continuous investment costs just to keep up with new requirements as the tech. available changes and the demands for security change.

From a tech/security point of view I'd like to know where it might end and IGP could cash in. Its an old question of course - how do you make profits out of a business where you have to keep reinventing your product ?

[garbut] 13/2/2018 15:29

They shouldn't have any need to raise cash as theyre receiving 500K
within the next 30 days as per RNS.
IMO

[the big fella] 13/2/2018 15:18

Tough one to call. This could be a turning point or another false dawn. It could multibag from here. But possibly could also look to raise cash. Therein lies the dilemma

[yump] 13/2/2018 15:06

Been watching this for ages - wonder if this is close to a turning pint...

Don't know if its true as haven't been reading the reports much, but it seems they have spread geographically ?

[garth] 13/2/2018 15:03

"This contract will have an initial new order value of more than GBP1,000,000 and will also generate recurring annual fees. Approximately 50% of this initial contract value is expected to be received within the next 30 days with the remainder expected to be received in Intercede's financial year ending 31 March 2019, based on Intercede fulfilling certain commercial milestones.

Richard Parris, Chairman & Chief Executive of Intercede, said: "I am pleased that the recent investment we have made in new mobile identity technology is starting to generate significant orders. We have used the last two years to develop a competitively differentiated mobile identity platform in a market with high barriers to entry. Through our network of partners, Intercede is now in an excellent position to capitalise on this lead in multiple geographic territories. As I stated in the Intercede's 2017 Annual Report, establishing Intercede at the heart of critical eco-systems is central to our strategy. This contract is the manifestation of that pledge and is a top tier reference customer for other nations to follow.""

[garth] 13/2/2018 15:00

LOL. Recently re-took a stake here after a long time out. Have to confess that I hadn't noticed!

G.