Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video 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.
And a sitting one whilst stabilizing ??
It is not a dead duck. It seems to be a stabilising duck.
If someone were to make an offer - even a low ball one it would at least put it on other investor's radars. The beauty here is that the debt is in house and the likes of MXC, Kestrel & Dobbie have invested far too much time,effort and money for them to accept anything cheeky. The news I was expecting concerned their results.
At times like this, its why annuity revenue is king. Short of your customers not being able to pay their bills, you have your revenue locked in.
There's also a real drive for cloud services and connectivity right now as well as agile support partners, so IDE in theory could be well placed.
Sitting duck is hardly a great place to be in for an investment. But I was more confused by you implying it was this week. As that was a very specific opinion.
They will want to sell it that's their MO, but its also heavily indebted and it's hard to gauge what's quite left in the company. Will be interesting to see if the next results show anything positive.
Redcentric the latest peer group company to suggest trading is resilient.
One day the directors of IDE will deem it time to update shareholders on their progress.
Keep guessing in the meantime!
Why can't I have an opinion? If IDE are doing as well as I believe, at this share price/ market cap they could well be a sitting duck.
This makes no sense. You can't have an opinion of a potential takeover this week.
I think this random rumour mongering is not helpful for the long term holders of shares here.
They were quiet for so long it set a really bad impression for customers. I think they got a new hire and social activity picked up.
I suspect if it was April that they could have been furloughed... it makes sense to avail of the available funds during the tough period.
I am not aware of tweets. But silence from them, and it must be optimism from others, is currently just the ticket.
No tweets from IDE since April. They were usually quite twittery.
Expecting some good news in the week. I think the old adage of 'no news good news' will play out. Just my personal opinion - not advice.
Yes, at this rate they will be able to do FY 2019 and tell us about Interim 2020 at the same time!
Shareholder communication at its best (probably quite a few little retail holders helped in the equity bail out in 2018 - they deserve better).
This morning's little creep up in price is curious by the way.
Be good to see some results!
Same team and Mr. Fletcher has been in post since January.
MXCP will sell eventually, as it is intended to wind that company up within 5 years, following disbursements to shareholders as assets are sold. And, according to Ide's last updates, it is by no means a dead duck.
Not sure as to the size of Iomart's war chest but IDE would be a good acquisition. It's a shame there has been no news - hopefully no news good news.
Recommend this article from FT (mentioning how valuable data centre providers are, and presumably that must be a good read across to IDE who partner with Equinix and have a private network connecting data centres). You need to get behind the paywall.
"Data centre stocks surge as world shelters online"
If only they would update on what has happened since December 2019. Come on, surely something has!
Perhaps it is a complete news black out to avoid a tightly held stock surging on speculation and jeopardising a managed shareholder exit. Just a thought. Or perhaps that other poster is correct and it's a still a total dead duck!
No trades but up 4.04% - bid 2.40 ask 2.75. Same on stock exchange and HL.
I shall see what happens tomorrow.
Thanks for the information. I didn’t know the rules. So, it could well be up to 30 September 2020 until we have the results. The Executive Chairman was once regarded as the most capable CEO in his heyday but seems to have little regards now for his shareholders.
Rules – publication of annual accounts
Currently under AIM Rule 19 of the AIM Rules for Companies (“AIM Rules”), AIM companies must publish their accounts within six months of their financial year end consistent with the reporting requirement for UK public companies under the Companies Act 2006. BEIS has announced that UK companies can apply to Companies House for a three month extension for filing their accounts. In light of this, AIM Regulation have confirmed that AIM companies can apply for a three month extension to the reporting deadline for the publication of annual accounts. The request must come from the nomad prior to the AIM company’s current AIM Rules reporting deadline.
This extension is available to companies with financial year ends between 30 September 2019 to 30 June 2020.
I have a news alarm set and without detail from the company nothing to add. If you are worried, phone them. But it will not help.
On 26 September 2019 half year report to 30 June 2019 was published. What about the annual report for the year ended 31 December 2019?
I was not aware they had found further cost savings, beyond that previously reported - having achieved a 'proportionate cost base.' But it seems MXCP's relationship with Íde previous management, who allowed the company to bloat, was poor. Thus Smith taking charge himself and effectively starting again, at about the same time as organising the Cloudcoco 'takeover' of the also ailing Adept4, and largely relieving MXCP of that problem. If Smith has found further savings since, so much the better.
10th. January 2019.
"On 15th. October 2018 the Company announced the completion of its strategic and operational review and the sale of 365 ITMS Limited, one of the Group's subsidiaries. It also announced that the restructuring of the businesses that remained within the Group, being IDE Group Manage Limited and IDE Group Connect Limited, was ongoing.
To that end, a total of £7.2 million of annualised staff cost reductions have been implemented, along with other operational cost savings including, inter alia, a reduction in software licencing costs and property costs. The Company has also reached a settlement in relation to an outsourced service contract which will result in a saving of c.£3 million over the next three years. The Directors believe that following these cost savings, the Group now has a proportionate cost base."
11th. March 2019.
"As announced on 10 January 2019, £7.2 million of annualised staff cost reductions were implemented in 2018, with further reductions identified since the year end bringing the total to £7.8 million. Various operational cost savings have also been realised including a reduction in software licencing costs and property costs.
The Board is pleased to report that as a result of these cost savings the trading performance of the Group improved in the second half of the year. Furthermore, the Company reached a settlement in relation to an outsourced service contract which will result in a saving of c.£3 million over the next three years, therefore the provision made at the time of the interim results has now been reversed. Consequently, the Group now expects to report a significantly reduced loss at Adjusted EBITDA* level for the full year compared to that reported in the interim results for the six months to 30 June 2018. Following the rationalisation of the cost base, the Group expects to report a much improved trading performance in 2019."
Well they have sacked 75% of there workforce..
What we do know is that for MXCP Íde is very much a main project alongside the one with Liberty Global. MXCP have thrown money into it and hold all the debt, along with a proportion held by their investing partners, and for every £1 put in by MXCP 30p of that 'belongs' to Smith and Weaver, MXCP founders. They will sell this and all the other assets, prior to winding MXCP up in about 5 years. So they will do their very best for themselves as majority shareholders, with a possibility it may be sold into MXLG for Liberty Global. I remain optimistic - we have a long way to run. Smith says they are confident - but perhaps he too may be delusional.