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.
that what i dun understand, how does it register as a sell then if theres buyers for the same amount?
still for every seller there is a buyer!
well at least the big trade is now in the open - hence the fall
2,630,000 @11.57
True re the month extension option. I would hope this is not needed as it is a cleaned out balance sheet these days, but they need to make a public statement if they are going to extend for a month. As usual, retail shareholders who joined in the rescue financing in 2018 will be the last to know anything.
I imagine partners Smith and Weaver will retire on the proceeds of their MXCP holdings.As such, with Mxcp's relatively very large investment in Íde, they will certainly have a money-making game plan for it.
Thanks for your honesty Raleigh. Re MXLG, I cant see why LG would want to only end up with a few piddly MSP's so I am guessing the end game is going to be something of substance. All to play for with RCN - perhaps 6degrees will take them on and then IDE will get swallowed up in the grand finale .
I do not know that a conclusion was reached on that. Having an interest in Ide/MXCP you probably know as much as I do. What we do know is that Liberty Global has 50%, and MXCP has 25% with their co-investor having 25%. That co-investor has not to my knowledge ever been identified officially. I seem to recall reading theorists suggesting it was either the GIF, Ravenscroft, or Stephen Lansdown, but I cannot say now if there was anything to substantiate that. The short answer from me is I do not know. Perhaps somebody else can say more. But that is unconnected with Íde, save Íde being wrapped into MXLG, which from the outset was the popular consensus.
If MXLG did purchase Íde, Mxcp will not need firepower in the light of their existing investment.
I'm trying to work out the scale of the joint enterprise that MXC & LG are trying to achieve. LG certainly have plenty of fire power but who is backing MXC?
And MXCP, very heavily involved here, has recently made their first return to investors following their announcement of selling all investments over a 5 year period, returning £4.3m to investors by tender offer, representing half of the proceeds of sale of assets, buying back and cancelling 10% of the shares in issue. The remaining cash they say will be available to invest. MXCP has undertaken continued support for Íde ( never thought they would do otherwise ) and has the cash should that be required.
We have to bear in mind that due to Covid the time limit for publication of half year results is extended - so Íde has until the end of October.
Perhaps to MXLG?
On balance, MXCP is selling down and paying out, though retaining half the proceeds of sales they say for future investment over the next 4 - 5 years before selling up completely. Possibly they have enough on building Íde and readying it for sale?
perhaps MXLG and Ian Smith will have a pop at RCN
Redcentric - once a business sorts itself out like Redcentric has there are 10-15 private equity backed roll ups in the sector, it's a natural end game for IDE.
Computercentre - trading is buoyant, materially ahead of forecasts, this is not a bad sector to be in.
IDE has its own challenges that it is working through, but there is every hope that with decent management there are better times ahead for shareholders, particularly those that helped in the rescue fund raise two years ago.
Will also be a bonus when FinnCap issue a broker's note. It's all a bit 'in the air (cloud)' at the moment.
Yes and it will be interesting to see what 'acceptable levels of profitability' means. And whether the outlook points to the delayed bigger projects now getting underway in H2 to underpin a better second half.
IDE generated positive operating cash in 2019 and felt able to make a small acquisition in June 2020... just small signs there is a brighter future ahead. It's taken a bit longer than hoped but the tone of the annual report was encouraging.
Like you say, the next update due by end Sept will hopefully confirm the recovery story is moving on from stabilisation to growth.
On that last, we are due an update/6month results.
In my view to move this meaningfully it will take a positive trading update to prove that having right-sized, the company is continuing to gain contracts. They are at least now able to turn their minds outwards with a stronger sales team - "supported by forthcoming developments in marketing and lead generation activities we plan to implement in 2020."
So much for that - and just one trade.
There has been a lot of support from MXCP and others. MXCP, for the very good reason they have 43% and outstanding loan notes, say that will continue. They have said they expect Íde to return " market levels of profitability" in time.It was a complete mess under previous management, and that is taking a long time to sort out. But they seem to have right-sized and stabilised the business, are streamlining and improving their offering, and are now looking outwards to growth with building a strong sales force, "supported by forthcoming developments in marketing and lead generation activities we plan to implement in 2020."
So at face value it is going in the right direction, and finger in the air and the paucity of trades I see no reason to think otherwise than that the current price is about the low, and provided their strategy continues to be sound, we can start to move up on any future positive news.
Slightly optimistic.....................
I would imagine that Adam will be brought in to "strengthen the senior management team" as per previous RNS.
The (ex) owner of Nimoveri certainly has a good track record. Of particular note is his experience working for Equinix. https://uk.linkedin.com/in/adameaton85
Agree. Quack.
Right at the very very end of today's announcement, a small acquisition in June 2020.
Yes, it is small, but a sign of confidence matched by quite a different tone in the statements in my opinion.
This is not an insignificant disclosure - they are prepared to spend some cash mid Covid on growth, so the comments about going concern seem to be really all about the auditors covering themselves than what the Directors really think. If cash was really an issue you would not be buying a business.
Investors have to look forwards at the future story from here.
I would say it is paddling and under firm control - https://www.idegroup.com/about/investors/major-shareholders/