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I think conjecture about the timing of the tender offer and IDE share price is unfounded. If you look at the take up of the offer it shows almost all shareholders took it. Smith and Weaver are the biggest share holders by far and must have taken their allocation so no skullduggery going on.

Why?

The herds will be arriving here soon. The NAV is increasing by the day. Interims will be very interesting in November especially if they confirm the return to shareholders as previously stated. I wonder what the EBT is valued at now.

Just a small point , I was digging around in Sagacity ‘s accounts and spotted 2 large dividends paid recently, all be it on the back of a bad year but they had a great year previously. There would be a sizeable lump for MXCP from these which will obviously show in the accounts.

As stated in RNS they are looking to sell off parts of the business. Therefore the only question is how much value has been retained after the mismanagement has been corrected. The data centre must have value and the group revenue must have some interest although the debt level is high. A combination of Ian Smith, Kestrel, and Andy Parker should easily find value especially as MXC and Kestrel all but own the whole thing. Bizarrely this could rerate considerably despite the actions of the previous management. I think, whilst risky, this may well be worth a punt.

I agree.

If the shares were not bought buy the EBT and were being held by Cannacord on behalf of a client who then made a transfer then that would lend more credence. Time will tell.

The shares must have been bought through the EBT and another 50 million subsequently. My worry as previously stated is that the requirement is being filled by institutions and Cannacord is The broker for MXC. I thought the buyback was supposed to be in the open market and this doesn’t look like an order placed with market makers and worked over a period of time. I want to believe in this share but it’s easy to see why many don’t.

Why are Cannacord selling?

Whilst I agree with your posts I am a little worried about who is selling in these volumes. Clearly institutional but all the large holders are on the friends and family lists. Just a thought.

Panamul if you are still reading this board can you give us an updated NAV post the movements in Tax,Ctp,and Cor.

Looks like they have just sold the last of their shares in RCN.The trade just got written up.So now just the options left.

The trade was done after the close last night but what will be more interesting is who bought them which I am sure we will find out soon.Certainly the market has taken it as a positive which probably suggests the inevitable offer for the company in due course.Perhaps once the FRC have finished their investigation.

We should find out soon who bought them as well.Looks like something is cooking over at RCN as well.

A tidy profit of 1.58 million pounds.

I will bring the gin.Someone has been trying to put together a very large buy over the last two weeks but it was at a low price.It is pleasing to see the buying now at a higher level all be it still below the original placing price.

The price paid indicates a lack of availability.May be something is going to wake us up here.This has been the perfect cure for insomnia.

At least until the year end results are out.The sp is now 8% below the placing price and there is a very large background buyer.Results are due in March.Have faith.

I wouldn't dare have anything on a drinks tray in case the boredom of this share drove me to consuming it!

I am afraid no one is paying attention to this one at the moment,but with the results out in March may be it will become more liquid.