Looking at the present and historical valuation I find that the market cap today is very similar to that at the last market placing in August / September 2003 (21.15 million shares raised £660K) – with 213m shares out then at 5.5p (the loan note conversion price and 2002 resistance level) gave a market cap of 11.71 million.
More shares were issued later that year for the acquisition of Mids & Horsey in a paper transaction which value IDD shares at 7p which gave a March 31 2004 valuation of just over 19 million with 274m shares out. Yet more paper issued for the takeover of CardBase but I recall the investors there actually bought some real shares too.
According to Reuters the current value is
ShrsOut: 1,291,404t Mkt Val: 11,622,636
(The financials page on ADVFN does not include the latest 100 million issue)
The MM’s have managed the SP back down to the “correct” level, as the company really have not shown any sign of making a profit. The reduction of debt is a very positive move but we just have to wait for the results.
I got this FY EST EPS of 0.20p from Reuters but do not know of the origin, assume it to be from KBC Peel Hunt. If any fundementals wizzard can work out an SP based on that I would be grateful. I make it 2.58 million earnings.
gb;IDD ID Data 1,291,404t
Last: 0.90 FYEST- 19Oct 0.20( 1) Pre12: -1.40
So the company is just treading water really. Small punters like us have had our share of the company cut to 1/6 and it looks disasterous on a pure SP basis.
Obviously some investment companies have decided there is some value here or the recent placing would not have succeeded.
It’s a bit like watching the last few minutes of extra time in the rugby world cup final in very slow motion where Johnny Wilkinson has just dropped the ball to kick for goal – but wait – it’s on his right foot – can he do it?
Rosemary can you arrange a victory parade the fist time IDD make a profit?
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