LTS - having dug a bit further it seems you’re right. The original agreement was for a 3 year period from Aug 2019. So it’s already been extended by 2 years. And now, it would seem, possibly longer.
Wonder what interest rate the Admiral’s paying! |
Lords, from memory Drew has been rolling over this particular buyback deal for some time now. |
smorales - thanks for your take on this. You may well be right. But I don’t see why Drew wouldn’t have had to issue a TR1 on 5 August, as that was when the loan agreement expired. Surely an agreement of this sort has a fixed end date, rather than being capable of rollover?
And if Admiral Nelson did repay the loan subsequently, why would he have to issue a TR1 now, as he’s no more an IQE Director now than he was then? |
I think when all brokers update their figures we will have an idea of what to expect in next 2 years. So far the broker averages for 2025 is £126m. I expect this to level out around £110-115m after all 3 brokers update. Currently 2026 shows as 135m with a 9.9m loss. 2024 is currently 10m higher than it should be as not all broker have updated yet.
There is still huge risk here but perhaps the price is factored in already. Pretty much a reset to what happened a year ago. |
LLOL there seems to be differing opinion here on this subject - but here's my view FWIW.
When he was a Director the company was required to announce any transactions relating to his shareholding, but as he wasn't in August there was no obligation to do so. He probably rolled over the loan as previously but we can't be sure.
The 'Major Shareholders' page shows his shareholding at 31st of October as 46,266,881 shares being 4.78%. But that includes 12,121,711 shares lodged with EFH, and if those are removed from the calculation his holding drops to 3.39% which tallies with the 'before' figure on today's RNS.
It could be that he's increased his holding by buying shares in the market. However, I think that if he's just reduced his borrowing from EFH, therefore reducing the required collateral, those 5-6m shares would now count again as part of his personal shareholding and show as an increase for TR1 purposes. |
Well whatever he knows, he will know more than we do! Latest broker numbers only have IQE doing £9m more in 2026 than 2024s £125m. Although I thought the last update from the board was predicting £115m? |
VERY odd that latest TR1 today.
Admiral Nelson was required to repurchase 12,821,358 IQE shares @ 43.96 pence per share by 5 August 2024, under the terms of his sale & repurchase agreement with EFH.
Given the share price hasn't closed anywhere near as high as this over the past year, presumably he's sitting on a fat loss there.
So either he's very brave or unbelievably daft to go & increase his holding even further on 21 November from 3.388% to 4.015%.
Does he know something we don't?
Or is he just a glutton for punishment? He never did seem any good on the commercial front, so perhaps it's the latter...... |
 from Citywire
Crux hangs on for IQE recovery
An inventory unwind and the potential for a Taiwan spin-off should help British semiconductor group IQE (IQE) restore its balance sheet, says Crux Asset Management’s Richard Penny.
He holds the group in his £21m TM Crux UK Core fund where it was the largest detractor from performance in the third quarter, tumbling 46% and dragging 1.5% from fund performance.
The company’s interim trading update saw revenue expectations lowered to the bottom end of the range as some of its markets remained in recovery mode.
‘Cashflow was quite weak during the period as it built up inventory, however, this should unwind somewhat in the second half,’ said Penny.
The potential for a separate listing of its Taiwan operations, potential funding from the US Chips Act that will invest $280bn to bolster US semiconductor capacity, and an ongoing market recovery should ‘all help the balance sheet over the short term’.
‘IQE has under-utilised capacity with a primarily fixed cost base, meaning that as underlying markets recover and revenues grow, profitability should improve quickly,’ said Penny.
The shares jumped 13.1% to 11.9p at the end of last week, but have dropped 48% in 2024 to date. |
Drew Nelsons holding back over 4% threshold |
bots all over it now this morn, c'mon IQE, GLA |
11.74p +1.26 (12.02%)
Looking good in the days ahead |
Back from holiday, looks like a relatively good week for IQE stock.
Fair volume has traded and price has consolidated and started to rise.
RNS came whilst I was away and confirms what we mostly knew, business is bad and Americos dream was extinguished. However all the bad news is now out, they have access to funds to get to and beyond their Taiwan IPO which if they sell the whole of that operation is likely to be worth more than their current MC! Then IQE can cut costs come back lean and focused for GaN mega trend as per an earlier post. Perhaps by then Micro LED might be a goer and the supply chain look better.
I’m not surprised a few have added at these once in a decade levels, I am happy with my holding, not the circumstances that led to me increasing significantly mind, but it’s one for the future and definitely underpriced for those with patience.
Seeing the same thing happen to Wolfspeed gives us some confidence that it’s tough out there for many such companies and not just IQE. |
dipped in a toe of 33k
don't think i can lose and it's so small .... |
i held a stack of these when it was 180
sold out below £1 but more than i paid.
seems like a buy right now. |
My comment earlier at the "UPS" thread...
Master RSI 22 Nov '24 - 11:21 - 429 of 431 Edit
KEEP an EYE
IQE 11.16p ( 11.12 v 11.20p )
They are moving up fast today, there was a large volume 20M a couple days ago, most likely the overhang was cleared. A considerable buy trade paying a premium 123K at 11.24p a few minutes ago . The chart shows an Inverted HEAD and SHOULDERS.
A chart with the MACD showing also the positive and bullish signs of the Indicator. |
The faster switching speeds of GaN and SiC help them handle higher power levels more efficiently and run cooler, noted Ellis. But the higher frequencies also present testing challenges because the currents in the system change more rapidly. |
Added some more today, looking to move off its low's, GLA |
All aboard - hold tight - is this another crazy iqe gyration |
Looks like the reverse trade. Great to see large volumes now happening. We will soon find out who is buying/selling here. Had over 50M trades in last 3-4 days. |
Interesting that $1.5b grant doesn’t add anything to their (GF) share price!
Another big trade at end of day, unclassified so perhaps one was a buy and one a sell, thereby cancelling each other out and why share price was down on the day? 🤷🏼‍♂️ |
I see GF got their dosh: $1.5bn |
Best to use the London Stock Exchange itself for recorded trades:
www.londonstockexchange.com/stock/IQE/iqe-plc/company-page |
15m shares traded today been plenty of small
trades since market open so Advfn not working 100% at reflecting that for some reason. It’s often a bit flaky |
Looks like someone has bought £1.5m worth of shares at 12.42. Is this a good time get involved? |
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