We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Some "insider" buying,Clare Askem, suggests all bad news now out there,and future not all grim.
IGR management, Stewart Gilliland, Executive Chairman, Lance Burn, Interim COO and Paul Bal, CFO will present result for the full year 2022.
Tuesday, 28 June, 11:00am
Join us here: https://bit.ly/IGR_FY22_webinar
Been a nice little recovery here to complement the recovery in my CARD holding.
https://twitter.com/Share_Talk/status/1535589245787709440?s=20&t=m3OKUYvDdN-6PGGzL5coSg
Stewart Gilliland (chair of the stationery-paper bag company) stated that “our seasonal order book is strong”
https://www.share-talk.com/share-talk-weekly-small-cap-movers-shakers-saturday-11th-june-2022/
Have been watching this one and decided to invest, big price drop from high and market looking good here …..
Darren - I think the positivity is because there was some uncertainty around financing and this has now been resolved albeit with less favourable terms than previously - but that probably has more to do with current macro environment.
The new CFO has been in place a month now and this will have been high on his list. One box ticked already.
Are you serious? :)
Can’t see why the positivity here. Basically the groups facility has been cut, margin has been whacked up and no dividends allowed without lender approval
Seems like the shackles are off now. Looks the the outcome of the new terms was holding this back.
All imho
Posted on advfn:
" IG revises down bank facilities, in a nut shell they don't think they'll need as much bank help as first predicted, got to be positive news IMO. IG Design Group plc Bank Amendment & Extension June 02, 2022 02:00 AM Eastern Daylight Time LONDON--(BUSINESS WIRE)--IG Design Group plc ('Design Group' or the 'Company') is pleased to announce that the Company has extended the term of its existing banking agreement to 31 March 2024. The agreement was signed after market close on 1 June 2022. “We are very pleased to have agreed this extension to our facilities and to have the ongoing support of our banking partners. Our seasonal orderbook remains strong and this revised facility provides us with sufficient funding for our working capital requirements.” As part of this extension, covenants have been revised for the period to 31 March 2023 and the facility size has been amended as follows: RCF A has reduced from $95 million to $90 million RCF B has reduced from a maximum level of £130 million to a maximum of £92 million The Directors believe these amendments continue to give the Group more than sufficient headroom to fund its seasonal working capital requirements over the remaining term of the banking agreement. There are no other changes to the banking facility limits. The revised covenants, which operate for a maximum period to 31 March 2023 are as follows: Minimum EBITDA performance, measured quarterly at the end of June, September, December and March, which requires the Group to be within $10 million of its EBITDA budget at each quarter end, based on the last twelve-month EBITDA performance at each measurement point Minimum liquidity level, which requires the Group to maintain a minimum of $35 million of headroom to the maximum available facility on a monthly basis From April 2023 the Group will revert to the previous covenants, as detailed in the Group’s 2021 Annual Accounts, being EBITDA leverage and interest cover. The amendment also stipulates that any dividends to be paid by the Group during the remaining term of the agreement will require majority lender approval. Furthermore, the bank lending margin has increased to 250 bps, rising to 300 bps from 1 June 2023. Banking and legal fees associated with the amendment and extension of the facility totalled c.$1 million. Stewart Gilliland, Chair, commented: "We are very pleased to have agreed this extension to our facilities and to have the ongoing support of our banking partners. Our seasonal orderbook remains strong and this revised facility provides us with sufficient funding for our working capital requirements.""
Seems like seller is done and sp on way back up imo
For a company that turns over one billion pound this valuation is absolutely crazy imo
Yes, I don't get it either. It's priced for BK. The interim 2022 report doesn't even suggest BK. They need more cash over the next 12 months, but there's big book value. Maybe take a little flutter here.
From the very quick research I have done this looks an absolute bargain
I think what’s really interesting about IG Design is that nearly 40% of sales is IG branded product, and presumably higher margin. So that’s a branded £300m turnover business alone. Surely combined with the cash assets, that alone is worth a multiple of the current market cap. Price:sales of 0.12x too low.
people are selling WTF going on
Nice to see the new CFO buying a few shares. He has 110,000 which is a bit more than a token gesture. Looks like a very good hire.
Bit quiet here but... quite an absurd valuation at £68m mcap, $40m cash £1bn revenue business and NAV around £2.50 (correct me if wrong)
An II took 5% at £1 ish, polar reduced some and some octopus nominees reduced marginally
CFO finally got hired today with a massive task at hand, but with £1bn revs at break even, every cut or % gain is straight to the bottom line...some large prints too finally so hopefully the start of a reversal? Gotta be one of the cheapest 'bounce' plays in LSE.... 90% below year highs is incredible
All IMO
Exceeded my expectations. Intend to buy on open.
Stocks is about £600m in revenue and he led the turnaround. This is currently £60m market cap - crazy!
Easy way to lose money!
Feel for those investors who got sucked into the dead cat bounce, now down another 40% since steep drop at the end of January. For people thinking this is easy money, just look at how long it took the share to recover after the GFC. Are you really prepared to hold for years on the hope of a sustained recovery. Better to steer well clear of a company with zero margins and pricing power during a period of high inflation. The easy money is in undervalued companies that will benefit in this new environment.
See the question mark after my first sentence.
There have been very few director transactions here and no recent buys to my knowledge. What are you talking about ??
Clearly someone was buying today - at bargain prices IMO but no evidence it was directors.
Directors buying low after selling high ?. Look out for those notifications. Should make people more confident about buying here.
Looking good now lol
Any prospects for this share? Bought at 1.14. Hoping for a bounce ??