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I've taken the open offer and also applied for extra in the excess application. Be interesting to see if I get the full excess.
I must say, I am feeling very confident with this new team, the fact that lockdown is easing. The silly offers on facebook seemed to have gone now and so it feels like there is a co-ordinated strrategy that fits a premium brand like SkinnyTan. That in turn should drive increased margins (for less effort) thus helping achieve true profitability. Folks should look into the Mgt and their backgrounds too.
Not everything is as I would like it mind. I am not convinced about the amount of staff IDP still have on the books and in Oz. I am also not 100% convinced with the strategy to reduce the amount of stock levels we carry at any one time as the previous mgt increased them last time around because IDP constantly run out of stock and therefore missed revenue opportunities. Finally, looking to mainly focus on SkinnyTan is a risky strategy and I would prefer diversification - they will learn this through experience I feel but hopefully not this year!.
Key for me is to get to TRUE profitability and not an adjusted figure by manipulating the Customer List or other silly trick that they think investors dont see. But overall, feeling confident these will deliver in spades between now and the next 12 months or so.
Surprisingly quiet on here given that the offer is closing today. I did take up the offer in full + a few excess options, at 35p per share I thought that it was worth a punt although plenty of risk. Expecting this business to recover well as we hopefully navigate away from the Covid headwinds in H2.
Ha, sorry, missed your earlier post.
ChrisTyper
You've probably seen but in case not you can apply for the offer now through ii's website if you go into the corporate actions section. I've applied for mine otherwise the dilution just adds up.
Offer came through today as a corporate action.
https://www.innovaderma.com/company-publications/
The prospectus is now on the company's website.
Meeting on 29/4 and new shares issued on 30/4.
Results for 31/12 showed cash at YE down to £160k. IDP then took the director loan of £500k from Wardy in January.
According to prospectus cash at 28/2 is £364k. so in the first 2 months of the year IDP has burned through another £300k.
This suggests that trading in the early part of H2 hasn't improved
Hi all
Does anyone know how this plays out (with ii.com) - should I get some form of automated offer via ii.com to take up the offer between today and the 21st ?
Cheers
Thanks all.
I think once this placing has been filtered through, I see no reason why this wouldn't boom going forward. Summer is on the way.
Having said that, if there is a disaster in valuation terms, i see no reason as to why this wouldn't be bought out!
https://www.lse.co.uk/rns/IDP/proposed-placing-and-proposed-open-offer-fv5e0mftls3vy2f.html
Details here - 35p a share
From memory 36p.
35p placing price. Only a few million have been issued thus far as AGM was required for the remainder. I would perhaps wait a few more weeks and let these hit the market as this can often suppress the share price.
Anything under 40p looks decent value in the longer term.
H1 numbers were terrible and i'm not expecting a fantastic H2 as lockdown progress is slow so full year numbers may not be brilliant.
Progress of strategy is perhaps the biggie here as new BOD seem to be focused on turning this round.
Hi, sorry I am looking to get a position in this stock, can you confirm the price of the share raise? I cant see anything in the RNSs
yep, but c9m shares can only be issued if approved at an EGM. This is meant to be in late March but to my knowledge the prospectus hasn't yet been published so they need to get a move on.
H1 results also still need to be finalised too, so a lot to do in the next few weeks.
It is possible the CRL bid delayed things a bit, but clearly IDP still needs to money so i can see a busy next few weeks
Is it 27m shares in issue post the raise?
in the last 2 years it's been released in the last week of Feb so it has clearly been delayed a little this year.
Not expecting anything positive but will be interesting to see how low the cash position was at 31/12 etc.
Maybe they'll wait until 2nd tranche of placing shares has been completed, but think it needs to be published this month so they can't wait too long
guessing it was a cheeky low ball bid and they weren't prepared to go much higher.
2nd tranche of placing can now go ahead so new BOD will hopefully have the time and money to turn this around.
Price has recovered quite well today, thought we might see a sub 40p close
Where are you hearing this? They've got plenty of work to do to with their existing brands. Don't want anything else to distract their focus.
I agree need something to happen
Need some for the share holders !!
I am hearing innovaderma are looking at medical cannabis
Another after hours RNS. All gone quiet again here.
I guess the second tranche of shares need approval at the EGM before anything exciting will happen...
Appears they intend to make an offer....
with an opening low ball bid of 44p let's be honest CRL won't be increasing it by more than say 30 to 40% max.
Also we have 47% extra shares at 35p soon so these new shareholders may see the appeal to a quick 50% plus.
Clearly this doesn't suit any LTHs as we probably all have an average at over £1 - the last placing was at 276p!!
However, i expect our biggest shareholder and NED Mark Ward will not consider a offer below his average (guessing about 70p). My only concern is that at some point it may need to get put to shareholders and then the BOD are powerless
If BoD are looking after shateholder interests, anything sub 100p minimum should be unacceptable.
150-200p imo would be range as upside once travel reopens should be realised.
Those of us with an average of £1 wouldn't be!