Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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They put the cost of remaining listed as about £0.3m a year they said for MXC, so there are potential savings there.
The reason they said really the only main reason to remain listed was access to capital. So I guess keeps the door open for further fundraising.
It’s just my own thoughts. Is there really anything they can’t do as a private company? Acquisitions and such may be supported by Mxc - they’ve thrown cash into it so far, kept things ‘inside’.
I just suspect that’s where it may be heading, is all.
Truth is, I don’t know, do I, no more than anybody else.
Tbh you can say the same about half the small cap market listings re why are they listed. Listing continues to make sense if the company looks for acquisitions (which was mentioned a while back or there is a RTO).
And, as I’ve mentioned before, I can’t see any reason why this should remain listed.
30th. September 2021
https://www.lse.co.uk/rns/IDE/half-year-report-1l0zegs1hmhggu5.html
It seems hard to square that summary and outlook with the reality of the situation as reported, or going unmentioned - talk of EBITDA whilst interest payments are rolling up, and the amount of time being taken to agree something on the loan notes amongst the few interested parties. And we have the strange taking of a loan, not repaid to MXC ( executive director Smith’s own investment vehicle )by the expected date for whatever reason, and they, Smith if you like, simply say
https://www.lse.co.uk/rns/IDE/related-party-short-term-loan-update-j0uynhgb7hmbnld.html
Only mention of Mxc looking to convert to equity in that one, and more to convert from the loan. If it continues like that, probably requiring FCA consent without a bid, it’ll be approaching private company status sort of thing.
It’s all a bit rum, I think - but I’ve sort of convinced myself Mxc have something in mind for Ide.
Seems like the after hour RNS did the trick re no market interest so far this morning. Seems like the higher margin work is weighted towards the second half so I wouldn’t be worried about the £600k ebitda figure - but it would be good if the company RNS some of these large contracts as comms are dire!
Well that was all too predictable. As I said they might... although I didn't think they'd play the Covid card again!
Higher potential EBITDA for last year nice. Only 600k for first half of this year not so nice.
They continue to downplay this.
Thanks for the link - can’t say I am surprised re delay but at least trading is stable - plus posting this after 430pm avoids a sell off like elsewhere today!
https://www.londonstockexchange.com/news-article/IDE/reporting-extension-and-trading-update/15520557
I wonder if they're planning on a merger with/acquisition by Cloudcoco.
I have asked the company multiple times on the date of results - you are right, it should be today and I have a feeling we will get a post 4.30pm RNS either with the results or explaining a delay. NOT GOOD
Are we not due results by month end?