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IMD, IMDEX LIMITED
bam_bamm
post Posted: Sep 13 2013, 09:08 AM
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It would appear that IMD have sold 130m SEH shares overnight, giving IMD an injection of around $24m (not sure of any tax implications)

I havent had a look at IMD's balance sheet for a while, but I believe they have been in a bit of strife of late, and the MS sector isnt really going as well as they would have liked.

IMD would still hold approximately 120m SEH shares, currently valued at $24m.

No real movement in IMD's makret depth this morning (nor SEH either for that matter)

Could be a good entry point this morning, although im sure more people will cotton on as we approach the opening bell.

Edit. Announcement out

QUOTE
Partial sale of Imdex Limited shareholding in Sino Gas & Energy Holdings Limited The Board of Imdex Limited (ASX:IMD) (Imdex) advises it has sold 130 million shares in Sino Gas & Energy Holdings Limited (ASX:SEH) (Sino) via a bookbuild to institutional and sophisticated investors at a price of $0.185 per share to realise gross cash proceeds of $24.05 million.

Imdex is a founding shareholder in Sino and recognises Sino is developing a world scale gas project in China. Imdex strongly supports the strategy of Sino's Board and management and has no current intention to sell the remainder of its shareholding (being 121,908,446 shares, representing an approximate 9.7% interest in Sino).

The sale proceeds will put Imdex in a strong cash position and provide greater financial flexibility in pursuing a number of growth initiatives, particularly in the Oil & Gas sector and technology development.

Imdex wishes to express its appreciation of the work being undertaken by the Board and management of Sino and looks forward to the next phase in Sino's development.


This post has been edited by bam_bamm: Sep 13 2013, 09:10 AM



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bam_bamm
post Posted: Sep 5 2012, 01:27 PM
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In Reply To: chum1155's post @ Sep 5 2012, 12:38 PM

Thanks for that chum.
Will continue to keep an eye on this one, but could be a dangerous trade.


cheers



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chum1155
post Posted: Sep 5 2012, 12:38 PM
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In Reply To: bam_bamm's post @ Sep 5 2012, 12:20 PM

Hi BB
Not looking too flash on daily ...
Looking to weekly, suggest ~ 82 cent mark ...??
Chum

 
bam_bamm
post Posted: Sep 5 2012, 12:20 PM
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In Reply To: bam_bamm's post @ Aug 20 2012, 10:02 AM

Has anyone got a chart to show where this could end up?



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bam_bamm
post Posted: Aug 20 2012, 10:02 AM
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Any one got any comments on the full year results released this morning?
early indication is that the market likes it.



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gordini
post Posted: Mar 7 2012, 09:49 PM
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Also look at the bigger picture, their expansion into Brazil especially.

 


bam_bamm
post Posted: Mar 7 2012, 03:46 PM
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I've had a few successful trades with IMD in the past, but recent developments have made me think about this little gem again.
Now that hydraulic fraccing has been given the all clear by the minister in WA, i was thinking that if shale gas hots up in australia, with the potential drilling of hundreds and hundreds of more wells, what companies and industries are likely to directly benefit.

Could Imdex, who are a supplier of drilling products and services be a candidate for higher revenues?



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gordini
post Posted: Feb 23 2012, 04:23 PM
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Look at the posts for May 27th 2008.
Sometimes, you've just gotta have faith.
$2.50!!!

 
gordini
post Posted: Feb 7 2011, 06:32 PM
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In Reply To: bluebug's post @ Dec 17 2010, 10:22 AM

Bluebug...
Great call early December......

 
bluebug
post Posted: Dec 17 2010, 10:22 AM
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In Reply To: gordini's post @ Jun 30 2010, 05:48 PM

Acquisition today looks like a very good fit and the price paid looks very reasonable.

IMD are one of my sleeper stocks and I am looking forward to a great half yearly result and a push up in price to over $2.

 
 


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