Any ideas why price has decreased so dramatically recently?

StockMarketWire.com
Imagination Technologies warns of a first half loss a with revenues lower than previously forecast.

The company says the semiconductor sector in general had a weak June quarter but the industry expectation is for this to improve in the second half of the year.

It says part of this has been driven by the sharp slowdown in the rate of growth of the emerging economies, and in particular the Chinese market. Imagination says the combination of general market softness in H1 and the short-term timing impact of the replacement chip ramp up, lead it to expect lower H1 revenues than it had previously forecast, which is likely to lead to a loss for H1. Based on the strength of the licensing pipeline and customers' product launches Imagination now expects a stronger H2 than previously forecast. But it says that at this early stage of the year, it cannot be certain that it will recover all of the H1 shortfall. Given the strong licensing activities in the last couple of years and the growing design wins in various markets, it expects the medium-term volume to gain significant momentum despite these short-term industry and specific factors.

Chief executive Hossein Yassaie said: "Following the strong licensing during the second half of last financial year, the pipeline of opportunities has encouragingly built-up to healthy levels during the first quarter of the year. "For both our PowerVR GPUs and MIPS cores we are seeing growing interest and engagements from several high volume partners. We expect these engagements to lead to licenses during this financial year and, combined with tier-one deals closed during the second half of last year, will help to build significant volume growth in the medium-term. "The Ensigma IP families continue to strengthen as we build up all the elements towards complete solutions. The level of customer engagement is increasing strongly, helping to grow this developing business. "There are some indications of general softness across the semiconductor industry for the short-term. However, given the relevance of our technologies to the key markets and design-wins we have already secured and expect to secure, we remain confident of a growing momentum in our business in the medium-term."

http://www.moneyam.com/action/news/showArticle?id=5134052

Notice of results http://www.moneyam.com/action/news/showArticle?id=5155867

Half yearly Report http://www.moneyam.com/action/news/showArticle?id=5174845

SP down nearly 7% at the mo.

Imagination CEO steps down; forecasts EBIT loss

Imagination Technologies Group chief executive Sir Hossein Yassaie has stepped down with immediate effect. Andrew Heath, one of the non-executive directors, has been appointed interim CEO The group also published a trading update as the board now expects to report an EBIT loss for the financial year to 30 April 2016. Imagination is also announcing details on restructuring initiatives. These include the sale of Pure, its consumer electronics business, and the expectation at this stage that Imagination will reduce total operating costs of its on-going businesses by GBP15 million in the next financial year, ending April 2017.

The group says that since it published its half year results in December, market conditions have not improved and the slow-down in the overall semiconductor sector has continued, reinforced by global uncertainty about future trading prospects with China. Royalty returns from some key customers have fallen short of previous expectations for the last calendar quarter of 2015 with lower forecasts for the first calendar quarter of 2016. While the licence pipeline remains strong, and licences and related revenues already secured this year amount to �24 million, the pace of deal closure is falling short of prior expectations. The royalty reduction coupled with continuing uncertainty over licence revenue timing is likely to result in a material reduction in expected FY16 revenues and resulting profitability. The Group now expects to report an EBIT loss for the financial year to 30 April 2016. The group continues to have sufficient cash resources to meet its obligations going forward.

Story provided by StockMarketWire.com

Watch this one dive now.

So that's a buy then mitzy???!!!! ;o)

Lol Harry.

Baillie Gifford & Co go above 12% http://www.moneyam.com/action/news/showArticle?id=5213530

Possible takeover talk:

http://arstechnica.co.uk/gadgets/2016/03/apple-acquire-imagination-powervr-gpu/

Interesting, I wondered why they were up with no RNS.

StockMarketWire.com
Imagination Technologies Group has noted the announcement from Apple Inc that it does not intend to make an offer for the company. Imagination says the board values Apple very highly as an important ongoing partner of the company.

TSINGHUA UNIGROUP INTERNATIONAL CO., LTD. go above the 3% holding.. the SP is up over 13% at the mo!

so the chinese now have a strategic 3% stake
they worry me far more than the japanese and ARM

Maybe not such a smart purchase by the Chinese.

3 April 2017

Imagination Technologies Group plc

Discussions with Apple regarding license agreement

Imagination Technologies Group plc (LSE: IMG, "Imagination", "the Group") a leading multimedia, processor and communications technology company, has been notified by Apple Inc. ("Apple"), its largest customer, that Apple is of a view that it will no longer use the Group's intellectual property in its new products in 15 months to two years time, and as such will not be eligible for royalty payments under the current license and royalty agreement.

Apple has used Imagination's technology and intellectual property for many years. It has formed the basis of Graphics Processor Units ("GPUs") in Apple's phones, tablets, iPods, TVs and watches. Apple has asserted that it has been working on a separate, independent graphics design in order to control its products and will be reducing its future reliance on Imagination's technology.

Apple has not presented any evidence to substantiate its assertion that it will no longer require Imagination's technology, without violating Imagination's patents, intellectual property and confidential information. This evidence has been requested by Imagination but Apple has declined to provide it.

Further, Imagination believes that it would be extremely challenging to design a brand new GPU architecture from basics without infringing its intellectual property rights, accordingly Imagination does not accept Apple's assertions.

Apple's notification has led Imagination to discuss with Apple potential alternative commercial arrangements for the current license and royalty agreement.

Imagination has reserved all its rights in respect of Apple's unauthorised use of Imagination's confidential information and Imagination's intellectual property rights.

Down by two thirds! WOW !!

Must be worth a punt Yes ? No ?

ouch!
i've got some of those in my sipp

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

good idea chess, but sp has now zipped away from 105 which was the level i was looking for

Blimey, eggs and baskets spring to mind regarding their tie up with Apple.. be very careful about these Alf.. one of Dili favourites if I'm not mistaken )-:

Comment from J P Morgan:
"Apple is by far Imagination's most important customer and responsible for the majority of its revenue. The information that it will not use Imagination IP after next 15-24 months is potentially fatal for the company and the only rescue would be a distress sale. In fact, we think it virtually impossible to build a model for the company without Apple revenue. Thus though the fall in the stock post the announcement is substantial we find it difficult to value the company without Apple revenue and the company will likely have to effect a distress sale in the current environment. The options in front of the company include: 1) Sale of graphics IP to Apple. 2) Sale of right to use graphics IP to Apple while continuing to maintain its own graphics IP business to other customers along with its MIPS and Ensigma businesses. 3) Break up and sale of all the businesses of the company. Only the graphics IP would today get proper value, though breaking up the assets could potentially generate some more value than that reflected in the stock today after the announcement, though the cost will be in terms of how long this break up takes to execute."