Against my expectations, volume of the buyback is slowing.
Yesterday only 73,983 shares purchased.
At an average of 500,000 shares a week, the current buyback will take around 20 weeks meaning completion around end of February 2025. |
This is ridiculous!
They’ve made great announcements
They’re buying back shares and it Dallas again?!?
D |
SP dropping below the level it was prior to Featurespace sale announcement [£134m]
Almost as if the market doesn't believe the news. |
Sorry that's a general observation from a mate who is a CMO and Biotech VC investor about the delay. They don't have any inside track. Only also said the mechanism in question isn't particularly novel. |
Any chance you can divulge who has informed you? |
No. I don't think that's possible. And I am informed in fact what's happening isn't normal. |
I'm waiting on Istesso, 3 trials up to a year past completion date now without any results announced. Nothing on their website for a year. IPO the main fund provider with board representation but pretending they don't know what's going on. Really?? |
What is happening?
keep dropping after the earning data regardless the share buyback |
CHRY and IPO have similar market caps.
CHRY has a very clear £40m buyback in operation with another £60m promised (and a debt facility signed to start spending that £60m very soon). IPO has reminded us of a previously-offered £10m and a "maybe we'll give you some more later" despite having far more cash in the bank (even before sales proceeds).
I'm happy to go way over-weight on CHRY and wait for IPO. I suspect that they'll spend the £10m - to little avail I'd imagine - before announcing anything more substantial. Lots of time to get back in or to trade the news when it happens... |
Would guess traders buying IPO lower down taking some profit to derisk could be one factor that has held this back when compared with CHRY for example. |
You've missed the point there. 10m buyback before any proceeds from anything else. |
Craigso - note the final paragraph of the BB extension RNS:The Company has previously announced that Visa has signed a definitive agreement to acquire portfolio company Featurespace, in respect of which the Group expects to receive £134m in cash as further detailed in its announcement on 26 September 2024. In addition, the Company is pleased to note that Intelligent Ultrasound Group's sale of its Clinical AI business to GE HealthCare completed on 1 October 2024 for an enterprise value of £40.5m on a cash free/debt fee basis. Intelligent Ultrasound has previously pledged an intention to make a "material return of capital" to its shareholders following completion and is currently undertaking a capital reduction in anticipation of this. The Group looks forward to updating the market further on the impact of these transactions on shareholder returns in due course |
Sold most of my stake into today's share price strength, banking a nice profit.
May come to regret that, of course, but I feel they could have done much better than just launching the £10m buyback when they've got loads more cash in the bank and £130+m is on its way from Featurespace. |
Frisky today. BB operating but without the committed selling (prior to recent news) perhaps? |
Rather than going into treasury, bought back shares now being cancelled on the day.
ONT will join main market in December 2024.
=================================================
Date of purchase: 07/10/2024
Number of ordinary shares purchased: 147,073
Any Ordinary Shares purchased under the Buyback Programme will be cancelled in order to decrease the number of Ordinary Shares in issue. Accordingly, following the above transaction and subsequent cancellation of the Repurchased Shares, the Group has 995,748,296 ordinary shares in issue with voting rights. |
This is confirmation that the new £10m buyback has started.
The cancellation of the treasury shares is news. |
The extra £10m was announced awhile ago.
OK. Now I get it. We don't actually get anything new on the buyback front. No wonder the share price popped into the 50s at the open but then dropped back down again. |
£10m [second paragraph in announcement]
About 20m shares at the current share price |
Can't find a ££ amount for the "buyback extension".
All I can see is "a general authority to purchase a maximum of 102,769,901 Ordinary Shares".
Not sure if we should be looking at the "45,500,907 shares at an average price of 43.9552 pence per share for an aggregate consideration of £20m" or the "the Group was holding 67,292,636 Ordinary Shares in treasury in aggregate" when calculating how many shares the broker is authorised to buy back. (102.7 million minus the shares already bought under the current authority)
Either way, I suppose that it's good news to extend the buyback, but it looks like smaller numbers than I would have hoped for. |
Treasury shares cancelled.
New buyback starting. |
First stage in process complete.
================================
1 October 2024 Intelligent Ultrasound Group plc
Completion of sale of Clinical AI Business
Further to the announcement on 18th July 2024, Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound AI software and simulation company, is pleased to announce it has completed the sale of its Clinical AI Business (Intelligent Ultrasound Limited and certain other clinical AI related assets) to GE HealthCare for an enterprise value of £40.5 million on a cash free/debt free basis |
Re, "Further exits expected including a number of transactions at an advanced stage of negotiation..."
One of these I have kept an eye on is RFC Power. It's reasonably small, but IPO holds 31.9%.
Ceres, whose fortunes are looking up, is a partner of RFC and has an option open on acquisition until the end of 2024. |
I think the Istesso trial supposedly finishes today, so in theory the blinds can come off, and the results made public.
Obviously IF the drug has improved trial members symptoms, those 'at the coalface' of the trial will already have already made guesses as to who was on the active ingredient, and who got the placebo.
A delay might mean that there is no clear benefit, therefore the results could need more thorough analysis. |
I dont think anyone would be surprised if a phase 2b didn't hit all it's endpoints. Especially with the delay.So given IPO already sits on a greater than 50% discount.My question is, is the market applying the discount equally across all the underlying Holdings. Or is it more sophisticated. So potentially more upside relative to downside. |
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