Possible Exodus to Ian McKendricks new IAE? Pls no IAE/INA cat fight in answer to this post.
I am just wondering since Ian seems to have left Ithaca to act on this opportunity together with Tom Reynolds. Tom sold Bridge Energy ASA in Sept 2013 when Ian left and in INA's analyst conf call Tom Reynolds said that since he sold "He's been looking with Ian at other opportunities of scale".
They ended up with INA and plan to re-arrange it into an asap upfront cash flowing to within 30 months have a progressively dividend paying company. Something Ian wanted to do with IAE as well but it didn't go quick enough? They bought 3,75 mln shares at $ 0,40 - above current sp.
INA is at the stage (52 week low) IAE was when Ian Mckendrick took over an turned it around. He's know to be able to do that and in all likelihood they will come with a new presentation/plans after the 18 Sept. Sottish vote.
Currently both IAE and INA have a suffering sp and ugly charts - but as things start to turn around INA does it from a much lower SP/NAV position.
At that point I think there's a possibility you'll see IAE money going to Ian/INA. Maybe something to be mindful of as the 18th and possible new plans of INA arrive.
R.