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Good questions that we would all want the answers to APD708. Yes, Yes...and can only see Yes for Ince!
This share loves to move quickly on nothing...hopefully the build up to 80+ pre half year trading update later in October. Looking forward to the AGM next week but don't expect much noise - would love the trading update the morning of it but expecting later Oct.
Yeah 3.5% for half year would be enough to get it going, 7% full year. They know the importance of getting a dividend going so time to deliver now. That div % would be well above any other listed legal firm, as we know by now Ince are way undervalued mcap wise. Hopefully a chance to ask questions at the AGM to gauge where they are.
I would guess 2p based on historical interim divs but we can see. Hopefully the rise now into half year results, would be nice to see 80s again by then.
Good question, I have been in INCE for 15 months now, and honestly thought we would be looking at 200p+ by now. I think I have always known it will take a couple of dividend payments to get the market comfortable/confident in INCE again, which is why I was gutted there was not a div in July, just delayed things. They are a cautious company that don't put out pointless RNSs (I was the one in the last presentation that questioned and encouraged them to put out more RNSs such as quarterly revenue updates) but they can do more on that front. Last year they had £46m revenues H1 and then £101m FY, hoping for £50m+ H1 this year as they seemed v optimistic in the July presentation. Should lead to nice profits.
Keys is also quite an amazing comparison. The chart is unbelievable, just one big uptrend, now with a cap £270m and that was with directors selling today!! Versus Ince £37m mcap, similar profits and Ince 1.5 times revenue. Quite amazing. I am heavily invested in Ince, target 200p...that would still be a mcap of £150m!
CaneToad, I think this last point is the key, Ince are just not selling themselves (from an investor point of view) at the moment. The mcap difference to the other firms is ridiculous. Multiply by 5 and Ince still looks cheap. The absolute key is the dividend in Nov/Dec and we should see a rerate. I asked a lot of questions in the last 2 presentations and could not be more confident in management. Big couple of months coming...
Yes Eringael, definitely stemmed from that. Similar happened in early Feb - 10p drop - before the rise into mid 80s. Investor relations confirmed results/div update by end of July so we should be seeing an RNS soon with the date. Good luck all
Staggering isn't it Drice?! And we know cash isn't a problem after the loan restructure. The expected div should make this rerate, similar to i3e.
Strong 4 posts there Goldencrosskiss. It actually brought a smile to my face to know we have a deramper here now, shows good things to come. Tell us what you like about INCE?
Good post JmcJ, and completely agree with Cmec that that was a poorly written RNS. Just look at the update from Keys in Jan - lively, positive - while this was pretty dour considering what they were communicating was very bullish (and most probably a lot better results than KEYS)! Am heavily invested and agree on the £4 valuation in the next year or so; I really like the management but they can show a little more life in the RNS.
I think we would have been over 100p now based on the most recent RNSs - growth all over the shop, and Ince are Evergreens lawyers so must have a lot of fees from that!! Been analysing L2 and the trades closely the last 2 weeks, a lot of buys and the price is not moving...which means we probably have one of the investment managers from the 45p placing derisking a little. Short hold up before this moves quickly.
Am hoping/expecting the trading update to include details on them starting dividends again. Then we can get going again...
Agree APD708. If you review updates in late March 20 (pre year end) and September 20 (pre interim results) they inform the market there will be no dividend, essentially as market expectations not met. The fact they told me no update until until April I feel is very positive (I was annoyed at first as we really do need news share price wise) from a performance/div point of view. We had a drop from 36 to 25, 50 to 40, 65 to 50, so hopefully this is just the similar 80 to 70 drop and then we get back to it up to news. Fundamentals are amazing, switch off for 6 months/a year and we will be at 200p+ I think.
I emailed the company and they said the trading update would come in April.
I pushed them for earlier as this drop is just simply from a large shareholder derisking a little from 11% to 10%. Fundamentals ridiculously strong. Annoying drop as would like to start from higher when the expected positive news comes.
I think you mean 800% up, strictlyinc.
Majid referred to Clearwater as possibly "Company making". Very interested to hear what they say about that in the next interview. Doc was very excited about it as well and seemed to have a lot of knowledge about it, with examples of other Companies in the area.
Thanks for your work Doc!! Outstanding.
Good question GGG - from prior interviews 0.4p was the number sounded out - £2.8m/$4.0m. I think that was 10% of the share price at the time. We only had the Canadian assets for just over 3 months. If FCF was estimated about $17m at the time, then $4m/25% sounds about right. Hopefully, like you say, a little uplift with +ve POO numbers etc.
Yes Tadders...long long way to go. One of those shares I keep in the bottom drawer and will get out for a look when we get to 200p.
Good post GGG! Do you ever chat to the Company? Would love them to take on board all of that. Nice little rise at the end of the day, same happened the day before the last RNS. Will they RNS an update of the brokers notes? I guess not.
Same thinking GGG. Feels like we have a block seller. I am a little overexposed in this share but at these oil prices the temptation to add may become too big today. The last two months in other shares has taught me that sometimes these things are "that obvious"...and AIM is so inefficient.