IMD - Imdex Limited

[divs4ever]

IMDEX LIMITED (ASX:IMD) – ANNOUNCEMENT OF ENTITLEMENT OFFER
On Thursday, 19 January 2023, IMDEX Limited (ABN 78 008 947 813) (IMDEX) announced a fully
underwritten pro-rata accelerated non-renounceable entitlement offer of new IMDEX shares (New
Shares) to raise approximately A$146 million (Entitlement Offer). The Entitlement Offer comprises an
offer to both eligible institutional shareholders and eligible retail shareholders (Eligible Retail
Shareholders) to participate.
The Company is also undertaking a fully underwritten institutional placement to sophisticated and
professional investors to raise A$75 million and a non-underwritten conditional placement to certain
IMDEX directors and management (subject to shareholder approval) to raise approximately A$3
million (together, with the Entitlement Offer, the Equity Raising).
If you are an Eligible Retail Shareholder, you will be able to subscribe for 1 New Share for every 6
existing IMDEX fully paid ordinary shares held on the Record Date of 7:00pm (Sydney time) on
Monday, 23 January 2023 (Entitlement) at the offer price of A$2.20 per New Share (Offer Price)
(Retail Entitlement Offer). Fractional Entitlements will be rounded up to the nearest whole number of
New Shares.
New Shares issued under the Equity Raising will be fully paid and rank equally with existing IMDEX
ordinary shares from the date of issue.
The Retail Entitlement Offer opens on Friday, 27 January 2023 and will close at 5:00pm (Sydney
time) on Tuesday, 7 February 2023.
From 9:00am (Sydney time) on Friday, 27 January 2023, Eligible Retail Shareholders will be able to
access the Retail Offer Booklet (setting out full details of the Retail Entitlement Offer) and a
personalised Entitlement and Acceptance Form online at www.computersharecas.com.au/imdexoffer.
In addition, on Friday, 27 January 2023, Eligible Retail Shareholders will be sent notification by post or
email (where they have elected to receive electronic communications) advising them that the
Entitlement Offer is open, and the Retail Offer Booklet and their personalised Entitlement and
Acceptance Form are available to view online at www.computersharecas.com.au/imdexoffer.
IMD
MR SAM SAMPLE
FLAT 123
123 SAMPLE STREET
THE SAMPLE HILL
SAMPLE ESTATE
SAMPLEVILLE VIC 3030
Samples/000001/000001
*L000001*
page | 2
Entitlements may have value, so please ensure you carefully review the Retail Offer Booklet
and Entitlement and Acceptance Form as you will be asked to select whether to take up your
Entitlement fully or in part, or to do nothing and allow your Entitlement to lapse.
If you do not take up your Entitlement in full, you will not receive any payment or value for
those Entitlements not taken up and your percentage shareholding in IMDEX will be reduced.
If you take up your Entitlement in full, you may also apply for additional New Shares over and
above your Entitlement under a top-up facility, subject to scale back pro rata to shareholdings.
Further details of the Entitlement Offer are available in the announcements provided to ASX on
Thursday, 19 January 2023 and online at www.imdexlimited.com/investors/asx-announcements.
Further Information
If you have any queries regarding the Retail Entitlement Offer, please contact your professional
adviser or please call the information line on 1300 850 505 (within Australia) or +61 3 9415 4000
(outside Australia) between 8:30am and 5:00pm (Sydney time) on Monday to Friday during the Retail
Entitlement Offer period. For other questions, you should consult your broker, solicitor, accountant,
financial adviser or other professional adviser.

==========================================================

DYOR

i hold IMD ( 'free-carried ' )

at a quick glance , ( i will think more about over the weekend ) i will probably pass up this offer

 

[rcw1]

IMDEX LIMITED (ASX:IMD) – ANNOUNCEMENT OF ENTITLEMENT OFFER
On Thursday, 19 January 2023, IMDEX Limited (ABN 78 008 947 813) (IMDEX) announced a fully
underwritten pro-rata accelerated non-renounceable entitlement offer of new IMDEX shares (New
Shares) to raise approximately A$146 million (Entitlement Offer). The Entitlement Offer comprises an
offer to both eligible institutional shareholders and eligible retail shareholders (Eligible Retail
Shareholders) to participate.
The Company is also undertaking a fully underwritten institutional placement to sophisticated and
professional investors to raise A$75 million and a non-underwritten conditional placement to certain
IMDEX directors and management (subject to shareholder approval) to raise approximately A$3
million (together, with the Entitlement Offer, the Equity Raising).
If you are an Eligible Retail Shareholder, you will be able to subscribe for 1 New Share for every 6
existing IMDEX fully paid ordinary shares held on the Record Date of 7:00pm (Sydney time) on
Monday, 23 January 2023 (Entitlement) at the offer price of A$2.20 per New Share (Offer Price)
(Retail Entitlement Offer). Fractional Entitlements will be rounded up to the nearest whole number of
New Shares.
New Shares issued under the Equity Raising will be fully paid and rank equally with existing IMDEX
ordinary shares from the date of issue.
The Retail Entitlement Offer opens on Friday, 27 January 2023 and will close at 5:00pm (Sydney
time) on Tuesday, 7 February 2023.
From 9:00am (Sydney time) on Friday, 27 January 2023, Eligible Retail Shareholders will be able to
access the Retail Offer Booklet (setting out full details of the Retail Entitlement Offer) and a
personalised Entitlement and Acceptance Form online at www.computersharecas.com.au/imdexoffer.
In addition, on Friday, 27 January 2023, Eligible Retail Shareholders will be sent notification by post or
email (where they have elected to receive electronic communications) advising them that the
Entitlement Offer is open, and the Retail Offer Booklet and their personalised Entitlement and
Acceptance Form are available to view online at www.computersharecas.com.au/imdexoffer.
IMD
MR SAM SAMPLE
FLAT 123
123 SAMPLE STREET
THE SAMPLE HILL
SAMPLE ESTATE
SAMPLEVILLE VIC 3030
Samples/000001/000001
*L000001*
page | 2
Entitlements may have value, so please ensure you carefully review the Retail Offer Booklet
and Entitlement and Acceptance Form as you will be asked to select whether to take up your
Entitlement fully or in part, or to do nothing and allow your Entitlement to lapse.
If you do not take up your Entitlement in full, you will not receive any payment or value for
those Entitlements not taken up and your percentage shareholding in IMDEX will be reduced.
If you take up your Entitlement in full, you may also apply for additional New Shares over and
above your Entitlement under a top-up facility, subject to scale back pro rata to shareholdings.
Further details of the Entitlement Offer are available in the announcements provided to ASX on
Thursday, 19 January 2023 and online at www.imdexlimited.com/investors/asx-announcements.
Further Information
If you have any queries regarding the Retail Entitlement Offer, please contact your professional
adviser or please call the information line on 1300 850 505 (within Australia) or +61 3 9415 4000
(outside Australia) between 8:30am and 5:00pm (Sydney time) on Monday to Friday during the Retail
Entitlement Offer period. For other questions, you should consult your broker, solicitor, accountant,
financial adviser or other professional adviser.

==========================================================

DYOR

i hold IMD ( 'free-carried ' )

at a quick glance , ( i will think more about over the weekend ) i will probably pass up this offer

A very good morning divs4ever,

Sun is up time to dry equipment and stuff after a week or so of heavy rain...

Back to business, know nothing about IMD but might take a peak at it, concerned about this though,
"... to sophisticated and professional investors to raise A$75 million ..."

Sophisticated !!! kinda rules rcw1 out ha ha ha ha ha ha ha ha;
rcw1 just a regular straight arrow... no sophistication whatsoever ha ha ha ha

Have a great day divs4ever.

Kind regards
rcw1

 

[divs4ever]

A very good morning divs4ever,

Sun is up time to dry equipment and stuff after a week or so of heavy rain...

Back to business, know nothing about IMD but might take a peak at it, concerned about this though,
"... to sophisticated and professional investors to raise A$75 million ..."

Sophisticated !!! kinda rules rcw1 out ha ha ha ha ha ha ha ha;
rcw1 just a regular straight arrow... no sophistication whatsoever ha ha ha ha

Have a great day divs4ever.

Kind regards
rcw1

the PME announcement today will probably help my day

cheers

 

[sptrawler]

I missed this run, but a great little company IMO

, I've

I've been in and out of them on numerous occasions.

Guess I will have to wait until the next mining downturn.

 

[divs4ever]

i got mine in 2013 ( @ 96 cents and 67 cents )

 

[sptrawler]

From memory the first time I bought them was about 2007 for 8c, when they were a small drilling mud supplier working from a small factory in Jandakot.
Then again at 30c, the last time at about 80-90c, sold out at about $1.60 and haven't been following since covid.
They have been a slow burn up company, continually improving their product.
I sold out when Bernie Ridgeway the CEO left, I thought the company may lose its direction. Fortunately that hasn't proven to be the case, I may put them back on watch.

How Bernie showed the way for 20 years at IMDEX

After 20 years of leadership, IMDEX MD Bernie Ridgeway reflects on business as he retires

www.geodrillinginternational.com

 

[Dona Ferentes]

I missed this run, but a great little company.

Guess I will have to wait until the next mining downturn.

Endorsement of the recent 'transformational ' acquisition .... Back trading and IMD opened at $12.34 and closed at $12.58

 

[sptrawler]

Wow 5 bagger in one hit.
$2.58 not $12.58, smelling salts for holders that passed out. Lol

 

[Dona Ferentes]

Wow 5 bagger in one hit.
$2.58 not $12.58, smelling salts for holders that passed out. Lol

Whoops.

Can't blame fat finger if multiple

done on phone, memory not so good, plead the 5th.

 

[Dona Ferentes]

"Copper, cobalt, nickel and lithium historically have made up about 35 per cent of exploration drilling spend."

“Today they make up 65 per cent of new projects that have been initiated and so over time you can imagine that exploration spend will start to re-weight as those new projects come online.

“All of those critical minerals projects are characterised by being at depth and increasingly complex, requiring precision mining. We need to find ways to make Tier 2 deposits economic, and those fundamentals mean that mining technology is going to be more important than ever..."

- IMD CEO Paul House

 

[finicky]

Decent write-up from PM Capital. Free tip. Funny how they often come when a manager has a position that is deteriorating in share price. The guy tacitly brags how they traded in and out of it at lows and highs so obviously acutely conscious of the broken uptrend.
Maybe a buy opportunity will come for @sptrawler?

Imdex provides exposure to growth in global mining sector | PMCapital

Mining-technology company focussed on achieving higher margins, production innovation and acquisitions. By Kevin Bertoli, PM Capital

www.pmcapital.com.au

Held

Daily

 

[sptrawler]

I've been in and out a lot of times, they are cyclical and my guess is exploration must be slowing down as money tightens up. Possibly an indicator of where the market thinks raw materials are going.
I tend to watch the long term graph on cyclicals, as the company itself only generates revenue, when its market is booming. They constantly improve what they do, but it is still dependent on exploration, which is dependent on raw material prices, which is dependent on demand, which is dependent on spending and isn't that going in reverse at a rate of knots?

 

[finicky]

Didn't realise you take a predominantly trading approach.

which is dependent on demand

Guy in the article says I think, without rereading, that commodities will be more a supply driven thing than demand due to years of neglected investment. Imdex has stated that they are seeing more exploration activity and a high amount of capital raising for exploration. Plus they are trying to expand more into the production side with services like 'Blastdog' which could scale up if Fortesque like the results fron using it.

 

[peter2]

I've also been in and out of this one over the past few years. The thin MD makes it trickier to trade in the short term and it's easier in the medium term. The price is nearing a long term support level (~1.70). If price closes below this then IMD is dead to me. However I've noticed huge volume (>5M) in recent days. One insto thinks that 1.80 is a great price while another is happy to sell. A speculative buy only for me here.

 

[finicky]

Just noting that First Sentier gave initial substantial holder notice after market close today.
They're no stranger to shorting but doesn't look like IMD is the standard of company they target.
But who knows what shenaningans they got up to while accumulating this position.
Can't make up my mind about the chart. I do note the weekly hammer candle made in the previous week near recent support level.

Held

WEEKLY

 

[JohnDe]

I put this in my watch list, at ridiculously low notification prices. Today they're all going off, but I'm not keen anymore.

 

[divs4ever]

I put this in my watch list, at ridiculously low notification prices. Today they're all going off, but I'm not keen anymore.


View attachment 161517

am currently up 91% on this ( despite today's 12.5% drop )

will catch up on the reports but i suspect i won't be lured into adding over $1

 

[finicky]

If you buy into the notion that they have growth ahead from their acquisitions and that this year was depressed by costs of acquisition and integration as well as an unrelated litigation significant item - if you buy into that, then it seems like it is languishing around fair value to me. But you'd also need to accept the 'normalised' accounting tricks. E.G their 'normalised ROE for FY23 is 12%; just primitively that's worth a bit better than 2x book value to me. FY22 BV = 0.74, so around 1.50 s.p seems ok to me. I like the idea of the business - technology imbedded in the mineral resources industry - but it's been a very unsatisfying as a stock to hold.

The chart, especially the LT chart, strikes me as a stand aside until there's a good sign. A long term chart shows some deep bear markets in IMD. I'll pick ~1.40 as likely before a possible short term rally, just a guess.
I was surprised to see that institutional ownership of IMD is so high - 85%

Held

 

[divs4ever]

If you buy into the notion that they have growth ahead from their acquisitions and that this year was depressed by costs of acquisition and integration as well as an unrelated litigation significant item - if you buy into that, then it seems like it is languishing around fair value to me. But you'd also need to accept the 'normalised' accounting tricks. E.G their 'normalised ROE for FY23 is 12%; just primitively that's worth a bit better than 2x book value to me. FY22 BV = 0.74, so around 1.50 s.p seems ok to me. I like the idea of the business - technology imbedded in the mineral resources industry - but it's been a very unsatisfying as a stock to hold.

The chart, especially the LT chart, strikes me as a stand aside until there's a good sign. A long term chart shows some deep bear markets in IMD. I'll pick ~1.40 as likely before a possible short term rally, just a guess.
I was surprised to see that institutional ownership of IMD is so high - 85%

Held

i was buying this as low as 67 cents during the asbestos contamination scare in 2013 , nobody seemed to explain if that was error or industrial sabotage '


however this company needs plenty of resource exploration to really go forward , so we must ask ... are we on the brink of a mining expenditure downturn .

 

[divs4ever]

CEO SHARE TRADING UPDATE

Following the voluntary disclosures relating to the CEO’s trading activity, IMDEX advises that Mr Paul House has acquired a further 80,000 Ordinary shares at an average price $1.59 per share between 11 - 15 September 2023.

Mr House now holds 1,191,553 fully paid ordinary shares in IMDEX.

i hold IMD ( but nowhere near as many as Mr. House )