financiallychallenged
31 Oct 2017
They think its all over ... Apple waiting in the wings? China-backed buyout fund founder charged in U.S. insider trading case SAN FRANCISCO (Reuters) - The founder of a private equity firm with Chinese state backing has been charged with insider trading related to the attempted acquisition of Lattice Semiconductor Corp (LSCC.O), U.S. authorities said on Monday. The charges against Benjamin Chow represent a major blow to the buyout firm he created just last year, Canyon Bridge Capital Partners, with capital from China Reform Holdings, a Chinese state-back fund. Chow denies wrongdoing, his attorney said. The indictment comes as Chow’s fund Canyon Bridge seeks to close its 550 million pound ($737 million) acquisition of British chipmaker Imagination Technologies Group Plc (IMG.L), after its $1.3 billion takeover of Lattice was blocked by U.S. President Donald Trump last month over national security concerns.[link]
srsm
29 Oct 2017
The CPU isn't Dead: The CPU is Brain Dead Repost from 'over there'. Based in part on recording of AGM.The board and private investors missed the elephant in the room."Neural Networks (NNs) drive an explosion in technological progress across industries, NNAs are now a fundamental class of processors, likely to be as significant as CPUs and GPUs."hxxps://www.imgtec.com/powervr-2nx-neural-network-accelerator/IMG are giving away a technology likely to be as important as anything MIPS and ARM does, and as important as PowerVR.Buy One (PowerVR) and Get One Free (Series2NX Neural Network Accelerator).To paraphrase Norman Tebbit. The CPU isn't dead: the CPU is brain dead.[link] (2nd page has the interesting bits).More here:hxxps://www.imgtec.com/blog/why-the-powervr-2nx-nna-is-the-future-of-neural-net-acceleration/Note the dig at Apple."Recently a smartphone manufacturer announced that its hardware used to enable face detection for unlocking the phone offered 600 billion operations per second. A single core of our initial PowerVR 2NX IP, running at a conservative 800MHz, can offer up to 2048 MACs/cycle (the industry standard performance indicator), meaning we can run over 3.2 trillion operations a second – twice our nearest competitor. The 2NX is a highly scalable solution, and through the use of multiple cores, much higher performance can be achieved, if required. As they say in football, it’s men against boys."I think 182 without the 2NX is probably fair enough. With it I think it is a disastrous undervaluation.Machine Learning - Neural Networks is the future. And maybe what the Chinese are really after.
financiallychallenged
27 Oct 2017
Re: Vote - documents Yes you are correct , my shares are held in an ISA with Barclays but I have not had any message re' the vote.Just hope the %age is surpassed
once a week
26 Oct 2017
Re: Vote - documents Your shares are probably held in a Nominee account with whoever your ISA is with. I hold shares with HL and got an online message to vote by 25 October.
financiallychallenged
26 Oct 2017
Vote - documents Hi Guys, all my remaining IMG shares are in ISA form at the moment.My Mother received documents to agree with the Chairman or otherwise with the sale offer at the meeting , due I believe on the 31st October.These forms as usual, were to be returned and the %age of votes needed to pass the proposed offer/salel were I think 75% of sharesMum only holds a small (less than 1000 shares) amount.I still have a few thousand in ISA but have received no message or otherwise to allow me to vote in agreement with the Chairman or otherwise?Best to allSteveMShould I be concerned?
danshelton
26 Oct 2017
Re: Apple settlement! I've been reading through the sale scheme document, and noticed this in the section about the Apple settlement:> If, before the expiry of the period described below, Imagination reaches a full and final> financial settlement with Apple under certain parameters (a "Settlement"
with respect to> the Apple Dispute, Imagination and CBFI have agreed that, subject to certain other terms> and conditions described below and contained in the Cooperation Agreement, Imagination> would be entitled to announce and pay an interim dividend or other distribution or return of> capital of up to 50% of any Excess Amountand regarding the "period described below":> Any Settlement Return would be conditional upon (i) the Settlement being reached by the> earlier of 60 days following publication of the Announcement and the date the Acquisition> becomes Effective and (ii) the Settlement proceeds being paid or due and payable in cash> (on a non-contingent basis and not subject to any rights of clawback) to Imagination within > 90 days of such settlement being reached.It seems to me that this means that a settlement has to be reached by the date the Acquisition becomes Effective (because that's likely to be earlier than 60 days following publication of the Announcement), which is around Nov 7th if I'm reading it right.Does anyone have any views on how likely this is to happen?
danshelton
26 Oct 2017
MIPS sale completed Thought I'd post this since no one else has mentioned it...> REG - Imagination Tech.PLC - Completion of sale of MIPS IMG.L> > 25 October 2017> > Imagination Technologies Group plc (LSE: IMG, "Imagination", "the Group", a> leading multimedia, processor and communications technology company, has today> completed the sale of its MIPS CPU business ("MIPS" to Tallwood MIPS Inc., a> company indirectly owned by Tallwood VC of Palo Alto, CA ("Tallwood",> following the announcement on 22 September 2017.That removes a big obstacle for the sale of IMG.
Scarmonger
20 Oct 2017
Re: Rival bidder ruled out Dr d Sweeney any final overview on history of img doctor. allways enjoyed your articles a last 20 yrs as sp varied from 15p to £6 back to £1. 82P Met you agm in kl thanks for sparing a thought for those who did not sell at £6 inc myself 2 times all too late now but how did arm sell at 50 times img even avesco sold at good price last year finally any views on iqe your top company now thanks again Bedford still have img t shirt susi sent me
itjusthappens
17 Oct 2017
Re: Rival bidder ruled out Dave Sweeney, there's a name from the past. The man with the IMG tattoo lol
Hub
17 Oct 2017
Re: wifi open door for hackers? The MIPS sale is 'priceless'. The dollar value may be below par but the strategic value in selling this asset is where the real value lies for the greater business. Due to US regs etc IMG could not sell the main business with MIPS included. So in summary, how do you price the one thing that opens the door to the bigger thing?I'm a little disappointed not to see a counter bid as thought this could have got above 200p based on that battle alone. That said, you never know... once MIPS is sold, there is a period whereby IMG are in theory 'open to all' bids from all entities. The MIPS sale has to 'complete' before IMG's main sale commences.Not over yet.On a side note, I see Numeric and other shorters are quietly taking their medicine and closing out their losses on short positions. Numeric look like they've lost a packet on IMG. What a shame!HUB
Tired and Confused
17 Oct 2017
Re: wifi open door for hackers? Things are only worth what those in the market are prepared to pay. HY paid a ridiculously high price for a stripped down MIPS business. He may well have been right about the potential and importance of the MIPS technology but as so often with IMG business sense and corporate ambition made MIPS a dreadful investment.The world is full of people and organanisations 'who knows the price of everything and the value of nothing'Only the techie's understand the value in MIPS long term but PLC's need to show a return on capital employed along with developing their business and IMG's never managed to do do that and hence why this sorry situation was always the only outcome. You don't have a viable PLC if you can't pay a return to investors.AIMHO
freedom-thirty5
17 Oct 2017
Re: wifi open door for hackers? It’s a firesale. None of that matters now.
techno foxx
17 Oct 2017
wifi open door for hackers? techno foxand IMG sold off MIPS for half the price they paid for it? [link]
Mikeclayton2
14 Oct 2017
Re: Rotten Apple? Since Apple pulled the plug on IMG I’ve read many reports that appear to indicate that there business model is to just bully their supplier to ensure their own success. They are of course very financially powerful, maybe the Chinese will challenge this positIon over the coming months/years.
Hub
13 Oct 2017
Rotten Apple? Qualcomm Seeks China iPhone Ban, Escalating Apple Legal FightIan King13 October 2017, 17:37 GMT+1 13 October 2017, 17:58 GMT+1 Chipmaker files patent suit against its customer in China Suit will seek ban of sale, manufacturing of offending devicesQualcomm Inc. filed lawsuits in China seeking to ban the sale and manufacture of iPhones in the country, the chipmaker’s biggest shot at Apple Inc. so far in a sprawling and bitter legal fight.The San Diego-based company aims to inflict pain on Apple in the world’s largest market for smartphones and cut off production in a country where most iPhones are made. The product provides almost two-thirds of Apple’s revenue. Qualcomm filed the suits in a Beijing intellectual property court claiming patent infringement and seeking injunctive relief, according to Christine Trimble, a company spokeswoman."Apple employs technologies invented by Qualcomm without paying for them," Trimble said. An Apple spokesman didn’t immediately respond to a request for comment on Friday. Apple shares gave up some gains from earlier on Friday, while Qualcomm stock maintained small losses.
