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Perhaps just someone who bought some of the 28mn shares turned over on the January 4th announcement of a contract win has got bored waiting.
10mn share now. A big lump being hawked around the market yesterday until a buyer appeared today. £100k at today’s price (200k a few weeks ago). Kestrel have a LOT more. Strange way to go if it’s them, though, I feel. If they’ve been knocked up for a capital raising then their sale would be illegal, obv.
6 million shares dumped, someones in the know…..
Bad news about to drop on this POS share it seems
That's not to say it's a no hoper mind. That's why I am still holding at a loss. Something coming out the bag with results maybe.
Seems to me MXC will do what they want with it. Nothing would surprise me with them. I hold, but wrote it off ages ago.
I'm 99% sure they're not going bankrupt so buy it whilst it's cheap
1.35 on the bid, will this POS ever stop declining?
Ha, so would I, but I like the crazy thought of them pumping some oxygen and IDE springing back to life having been murdered under the noses of those geniuses at MXC!!
By the way, this is not a buy tip. I cut my losses a very long time ago, just hanging around like a macabre spirit to see what the final execution looks like :)
i would very much doubt it.
thanks for posting...if MXC are giving all of the realised money back via tender, that should suggest they are not planning having to stick any more (or at least not very much) into IDE to get it through to an end exit (inside 4 years by the way)!!
could this zombie finally start walking....
Mxc continuing to sell of their assets.
http://mxccapital.com/wp-content/uploads/2021/06/174973-Project-Press-II-Tender-Offer-Document-AS-PRINTED.pdf
I must have a special gift of picking real crap companies to invest in. What with VAST. CLCO, ALBA and this. :(
1.40 on the bid currently, something happened here?
Since 2019 rescue, Kestrel did not convert and instead held onto a 0% convertible loan note.
That they have now chosen to convert suggests they are happy to move one rung down the liquidation preferences into equity from creditor, and quid pro quo suggests they see more end game return from holding equity than holding debt as a creditor.
IDE is a zombie business but something will happen eventually as there is a degree of value in the client list and via stripping out costs that an acquirer could do.
not sure what you mean-canyou clarify please
See previous thread!
With resignation of Kestrel director from the board a month ago it looks more like Plan B for them. Convert and exit?
FY 2020 (remember that?) due soon, surely. And some sort of updated “outlook” for the now nearly over h1?
That big stake to take. Could be some news soon
Belay that. He's gone. Sudden exit. Perhaps MXCP no longer as close as they seemed to be historically.
Insufficient knowledge to comment, other than I think Kestrel's man Seb White is still on the board anyway? And I think they're like peas in a pod with Íde.
I'm not completely up on this area... but I would have thought the conversion based upon privileged knowledge as a major shareholder would be not allowed? It could very well be based upon factors that are external to IDE and just relevant to Kestrel.
We are coming up to a set of final results anyway. It has been over 2p this year on contract news and trading update, which seemed mildly optimistic, and then dropped back. Frankly, it's as though it needs a boot up the backside....... or something.
Equally it ups Kestrels % holding considerably and would potentially help avoid MXC abusing their position as largest shareholder (by some margin at present).
I have no doubt that Mxc and Kestrel have some cunning plan. As you say, we shall have to wait and see where it leaves us lot.
I’m thinking, hoping, more positively...
1. Some sort of accounting issue that helps them look better if they have bigger equity and less debt, thus enabling them to win more business from bigger, better clients.
2. An upcoming corporate action or M&A deal that means it’s cleaner, more actionable, for them to be shareholders now rather than unsecured convertible loan note holders.
In any case, Kestrel are insiders given the access to info they’d get as major private debt holders.
So, news on way soon, perhaps after June conversion?