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according to the Stockopedia website
IDE
enterprise Value £20.77m
Mcap £3M
Bid is crashing back down to reality
just seen balance sheet and it does say £16.7M debt,
has anything dramatically changed in the last few months?
wouldn't worry about the debt! be more worried not to miss a golden opportunity. Major rerate tomorrow - this does not constitute advice and is totally my own opinion but is based on previous announcements .....management seems to have effected an incredible turnaround strategy.
Very positive sounding RNS.
"The Company is now seriously looking at options to remove the debt overhang and is liaising with the debtholders to ascertain the best way to resolve this and finally allow the company to prosper for all shareholders."
They're liaising with themselves.
I detect posters are keeping they're powder dry. Don't blame you.
They blame a lot on the old management, but they've done the odd thing like literally buying Nimoveri last year for £200k which carried on trading independently, and now selling it and the entire rest of the connect business for £250k!
"They're liaising with themselves." Very true. Talking to themselves about their own debt, to return value to themselves!
I can only see this as further dilution, surely? Whether private investors will ever see much of a return is one thing, but it was by far the most bullish they've been in an RNS in drawing a line underneath the past. There was actual proper growth in the managed business too by the look of it.
I'm an Mxc shareholder. Done well (so far ) since they delisted. They're rather sharp in my view. If anybody's going to come out on top, it'll be them.
Though invested ( and losing ) I have become more of a casual observer.
Andy Parker says, "This day has been a long time coming but for the first time in three years we can confidently look forward to a positive and rewarding future for IDE shareholders."
You would think he might buy some shares. Perhaps he will.
Andy's last bonus from Capita would have bought almost a quarter of IDE a couple of days back!
I agree with you on MXC. They are sharp, and if anyone knows and can sort out this sort of company it's them. I just still fear for me as an average joe investor. But, the damage is done for me. I've been wiped out. I just sit around and hope for some return some day.
It would seem, punters at large are unconvinced. Perhaps, like me, they are wondering how the debt-holders, Mxc et al, are going to get at least their capital back ( interest is currently being rolled up for payment at end of term) Mxc will have a cunning plan - that is where the partners hold their shares - and they are looking to have sold off all the assets in 4 - 5 years.
My last on this. It must have been subject of debate by all for some time. So there may be a clue in Kestrel’s earlier conversion. Very unlikely anyway to be other than part of the scheme of things.
https://www.lse.co.uk/rns/IDE/conversion-of-loan-notes-and-issue-of-equity-03ct1h7obr0x2nm.html
On a slightly different tack, spending cash to grow is also in mind.
“Our focus is now entirely on growth, continued organic growth and the possibility of acquisitions.”
There you go.
With that last in mind, and there’s been a lot of dark water under the bridge, there was a time when this board was full of conjecture about IDE being used as a vehicle to satisfy Mxc’s arrangement with Liberty Global to build a company “of size and scale”. And sell it to them.
I thought that dream was over. But you never know with these things.
Acquisitions was definitely their approach with these roll ups... I just worry that IDE is too small to do anything meaningful in the M&A space. I guess we'll see.
Presumably their future actions are aimed at a better financial position for the company, themselves, and hopefully pi’s. That’s what they tell us. I think I shall be fortunate to get my money back. I don’t care how they do thar for me, as long as they do.
Agreed. I'm pretty relaxed about it now. I've lost virtually all of it. I see I paid 29p five years a go for my first lot, then just kept digging each time it went down! So I'll just wait and hope something comes allows me to claw a bit back!
Well, I’m at 2.5 now for my sins. Not holding my breath short term, but there’s a chance.If the others convert some on the same terms as Kestrel that’ll be the price it’s done at.
Course, you have to think of dilution and so on.
Haven’t worked it out.
See what happens. It’s low liquidity.
Management will get on with what they said now. In truth, I expect they have already agreed what’s going to happen on the debt. Just not telling us yet.
It may not be pretty, on the various loan notes, but next bit of information will get rid of doubt and ‘clear the decks’ - to a better extent for the company anyway - and then we’ll be waiting on something, hopefully more positive than we’re used to.