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Thank you for finding that information and posting it here for us. It's most helpful. I really should have taken the time to find out myself considering I'm a imagination shareholder. So thank you again Laguerre .
Para 13 of the 26 Sept RNS Acquisition agreement- law speak 'simplified' ? Para 13 refers to the Apple dispute agreement being reached, after 60 day's FROM the Acquisition release date - 'IT' is dated 22 Sep Friday [the RNS circulating it is dated 26th Monday]' - to BEFORE the acquisition date. ie NOT within 60 day's of the release date. 90 days for payment receipt after dispute resolved, is the same. How the return sum is reached: 1. IMG and CB agreed a sum within the offer price to cover the potential loss due to Apples damaging disclosure. This sum remains confidential! 2. Should Apple make an acceptable offer, the amount first cover's both the 'confidential sum', and the court costs, all sums over that [whats left!] to be re-distributed to shareholders.
Imagination will have no problems now financially while taking on Apple over infringed patents , as you say if it dragged on over a long and litigating fight with Apple then cayon bridges would pay the bill and probably recoup the money out of any settlement with Apple, and if imagination loose then canyon bridges Pays all the bill and we pay nothing, that's why cayon bridges gets 50% of the winnings. We are in that enviable position of no win no fee , and just possibly we could get a nice xmas present from Apple . GLA
If IMG think they have a just case with Apple thats great but our company have not got the financial muscle until they are taken over. Given the size and arrogance of Apple I would imagine this wil go on for ages and would not expect to see any payout. Been loyal to IMG over the years and selected them rather than ARM - what a mistake! See https://shorttracker.co.uk/company/GB0009303123/ shows about 5% being short at present so hoping for sp to keep at these levels and improve to nearer bid price. I to will be watching over the next few business days with a view to sell at 180p if I get the oppotunity. Good luck to all however long you have held this Company.
Another thing if imagination loose the litigation against Apple then it would only be cost incurred in the litigation, lawyers court cost etc, but I'm sure imagination knows when someone is infringing on there own patents ? , And Apple and many other tech companies frequently infringe on patents , and just wait on till the lawyers letters arrive , it's when big money is at stake do they all call in the lawyers, I believe imagination have a strong case against Apple but as to the timing of a settlement and pay out , I wouldn't make a call on that one . I would be amazed if it all happened inside 90 days .
It was my understanding that the 60 days to reach agreement and 90 days to receive full payment was a imagination wish list to shareholders but if any litigation dragged on over say years then us the shareholders on the registar at a give point would still benefit from any settlement, but I could possibly be completely wrong here , and why shouldn't we benefit from any settlement as canyon bridges has bought imagination on the cheap in my humble opinion.
Hmm, the dispute continues, sorry guy's! From acquisition announcement 26 Sep, they have 60 day's to reach agreement, 90 days to receive full payment if in IMG's favour. Any return would be less costs incurred in bringing the case.
Should litigation be implemented by IMG before due date, IMHO I would have thought that cancels the sale . . . is that OK? IMG had every opportunity but the agreed sale appears to 'pass that particular buck' on! No doubt others will tell me I'm wrong?
I would have thought that any litigation after due date, will be a matter for Imaginations owners. Did I miss the clause in the agreement that previous shareholders would be party to a future litigation which if it was won by Apple would see previous shareholders liable? I can't see how former shareholders will benefit, the deal is done. After payout Imagination ceases to be a public company, I won't be a shareholder and it continue's in other hands! Whether those hands pursue Apple, it's not my business and they will have no record of the multitude of previous ownership's, it's their business not mine.
I'm staying in to the death, this is a done deal in my opinion ,getting the full current offer price , but more importantly no one really knows what the possible settlement will be, it could be substantial and 50% of that will do nicely / this year / next year or when ever, at least you have a much better chance of winning than doing the lottery LOL, and who knows if Apple still want imaginations IP and avoiding spending time with its lawyers and a very possibly pay out to imagination shareholders. Whatever anyone does with their holding well just good luck to you all , I'm holding onto my 15000 shares and sleeping soundly LOL
Hi Starmam In two minds to sell myself, price is near offer of 1.82 so holding for a couple more pence is it worth it?, dont pay broker fees on selling so that wont apply to me, think i wil hold till after tuesday next week, Img have been good to me over the years so anything i get now is more of a bonus. Regarding Apple paying out IMO cant see this happening. Good luck to whatever you decide to do.
Has everyone sold out of IMG? As nothing recent on BB. Perhaps investors have just cleared positions just in case bid does not go through. The only thing I can think of by holding on (other than 82p offer price and no broker charge) is possibility of a 50% payout in the Apple dispute by way of a special div or the short positions being covered pushing price nearer/above bid level. Please share your thoughts - Do I wait or sell..........
MVN? - 26 Sep 2017 they dumped their entire holding in a Biotech company!
Hi Laguerre, MVN Asset Management Limited - who are they?
Very interesting how many companies got their hands on the pie??? Think they are all out to make a quick buck...
Could you elaborate more?
The ID of a one share buyer . . . . RNS Form 8.3 dated 24 Oct 1254 hrs
"The China-backed buyout fund agrees to pay 182p per Imagination share, a near 42% premium" Happy days ahead Good weekend all.
No I'm not. I'm merely suggesting that Apple are complacently failing to even try to prevent potential advantages falling into the hands of the Chinese government, which completely controls their most important market and would dearly love to see it dominated by a Chinese firm. Buying obsolete IP would not help that aim, and even if you don't see any potential problems for Apple, that doesn't seem to be a credible description of what is actually happening here.
I think you're wrongly putting Apple products and market in direct competition with Imagination's. Having GPU IP doesn't make anyone any closer to compete with Apple's products. Apple is not GPUs. Apple is innovation and brand desirability - that's where competition would have to beat them. Doubt the defining winning point for a competitor would be accessing IMG GPU IPs.
Is there any evidence that Apple are not using IMG patented technology in their phones, old or new? They certainly haven't produced any when challenged. I would have thought the opposite is more likely. Describing IMG GPU technology as "obsolete" seems like claptrap. IMG also have various other ongoing IP developments which will probably be exploited like never before, under Chinese ownership. Apple has a growing dependence on the Chinese market and are potentially sleepwalking into a nightmare. A company backed by the Chinese government won't care a flying fig about Apple's cash pile, and if they want to boost their own phone makers (as they clearly do, evidenced by this deal) then the opportunity to take on Apple in court, if there is any case to answer whatsoever, seems like a gift. I still don't think Apple will bid, but I suspect they may bitterly regret that decision in the long term, one way or another.
All the Chinese will "potentially" know is obsolete technology not leveraged anymore by Apple. Hence irrelevant. Potentially cause licensing agreements between APPLE and IMG may be bind by exclusivity and non-reuse terms for years to go. And you won't want to breech those agreements, you won't want to be taken to court by Apple.
I think those that keep talking of Apple worries of law suits or Apple bidding vs Chinese need be reminded who Apple is. A market cap as of today of 804 B$. Cash in hands for 261.5 B$ as of their 2Q17 (Aug'17) results. Those numbers frighten anyone thinking of taking them to court since they would actually thank you for helping them getting rid of some of their cash to pay their lawyers. And, they have no interest in a bid war when they can simply have their own GPU with perfected blocks to tackle what they really need today: AI capabilities. That they need way more than IMG IPs for Graphics. The cash they have in hands helps them hiring the top in the industry and licensing whatever they may need to, from whoever they may need to. You need to ask yourselves if IMG has been innovating enough their IPs to be of real value to the top end of the technology spectrum (i.e. Apple), rather than to maybe lower tier vendors. I think this sale will conclude and everyone will be happy IMG managed to minimize the losses of shareholders at high entry level, and giving gains to those that speculated on the dip of the past months. IMHO.
Don't like the look of this trade flat line, is something big going to happen?
The moment has passed...IMG will be a chinese owned company.Apple?Well come on.The original announcement about Apple's withdrawal came not from Apple but from IMG....yes it can be argued that once that decision was known,IMG had to make it public because it would affect share value....but perhaps a deal might have been struck on a takeover between the two if discussion had taken place...just a little longer.Anyway no one will ever know now the true situation.Game over.Whistling in the dark is no longer appropriate.And anyway in a fast moving market like technology what was new one week is old within 3 months.I exaggerate to make a point.Knowledge and expertise in this market is relative.And is superseded v quickly.Everyone works hard but the knockout southpaw punch can come from a competitor v quickly.Welcome to the real world.