Announcement • Jul 10
Intelligent Monitoring Group Limited Announces Appointment of David Cavanagh as Chief Financial Officer, Effective July 20, 2026 Intelligent Monitoring Group Limited announced the appointment of Mr. David Cavanagh as Chief Financial Officer (CFO) of the Company, effective July 20, 2026. David served as Chief Financial Officer of ASX-listed MMA Offshore Ltd. for eight years and, prior to that, as General Manager, Finance and Commercial for Toll Global Logistics for seven years. In addition to his extensive industrial experience, David has a background in financial services, having held management roles with PwC, Macquarie Bank and Deloitte. David is a Chartered Accountant (CA) and holds Bachelors degrees in Commerce and Biochemistry along with a Masters in Biotechnology. David is also a graduate of the Australian Institute of Company Directors (GAICD). Price Target Changed • Jul 03
Price target increased by 19% to AU$1.15 Up from AU$0.97, the current price target is an average from 3 analysts. New target price is 78% above last closing price of AU$0.65. Stock is up 28% over the past year. The company posted a net loss per share of AU$0.065 last year. Announcement • Jun 12
Intelligent Monitoring Group Limited Announces Appointment of Chris Taylor to Non-Executive Director, Effective July 1, 2026 Intelligent Monitoring Group Limited announced the appointment of Chris Taylor as a Non-Executive Director, effective July 1, 2026. Chris is based in Auckland, New Zealand, and brings extensive corporate leadership experience, most recently serving as CEO of Comfort Group, which was founded and is headquartered in New Zealand. Recent Insider Transactions • Mar 08
Independent Non-Executive Director recently bought AU$53k worth of stock On the 6th of March, Mark Allen Brisson bought around 100k shares on-market at roughly AU$0.53 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$104k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 23
First half 2026 earnings released: AU$0.007 loss per share (vs AU$0.029 loss in 1H 2025) First half 2026 results: AU$0.007 loss per share (improved from AU$0.029 loss in 1H 2025). Revenue: AU$98.0m (up 21% from 1H 2025). Net loss: AU$2.43m (loss narrowed 73% from 1H 2025). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in Australia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Breakeven Date Change • Feb 20
Forecast breakeven date pushed back to 2027 The 3 analysts covering Intelligent Monitoring Group previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of AU$13.7m in 2027. Average annual earnings growth of 78% is required to achieve expected profit on schedule. Announcement • Jan 23
Intelligent Monitoring Group Limited to Report First Half, 2026 Results on Feb 20, 2026 Intelligent Monitoring Group Limited announced that they will report first half, 2026 results on Feb 20, 2026 Price Target Changed • Jan 14
Price target increased by 11% to AU$1.02 Up from AU$0.92, the current price target is an average from 3 analysts. New target price is 40% above last closing price of AU$0.72. Stock is up 49% over the past year. The company posted a net loss per share of AU$0.065 last year. New Risk • Jan 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Dec 16
Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 20.01 million. Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 20.01 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 34,500,000
Price\Range: AUD 0.58
Discount Per Security: AUD 0.0116
Transaction Features: Subsequent Direct Listing Breakeven Date Change • Dec 12
Forecast breakeven date pushed back to 2027 The 3 analysts covering Intelligent Monitoring Group previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of AU$16.1m in 2027. Average annual earnings growth of 76% is required to achieve expected profit on schedule. Announcement • Dec 12
Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire Bluesky Holdco Limited from Johnson Controls International plc (NYSE:JCI) for NZD 45 million. Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire Bluesky Holdco Limited from Johnson Controls International plc (NYSE:JCI) for NZD 45 million on December 11, 2025. A cash consideration of NZD 45 million will be paid by Intelligent Monitoring Group Limited. As part of consideration, NZD 45 million is paid towards common equity of Bluesky Holdco Limited. MG will fund the Acquisition wholly via debt from its existing approved banking facilities and cash flow
For the period ending December 31, 2024, Bluesky Holdco Limited reported total revenue of NZD 82.6 million.
The expected completion of the transaction is February 28, 2026. Announcement • Oct 10
Intelligent Monitoring Group Limited, Annual General Meeting, Nov 10, 2025 Intelligent Monitoring Group Limited, Annual General Meeting, Nov 10, 2025. Location: adt security, level 1 unit 38, 38-46 south street, rydalmere nsw 2116, Australia Reported Earnings • Oct 06
Full year 2025 earnings released: AU$0.065 loss per share (vs AU$0.007 loss in FY 2024) Full year 2025 results: AU$0.065 loss per share (further deteriorated from AU$0.007 loss in FY 2024). Revenue: AU$174.9m (up 44% from FY 2024). Net loss: AU$21.9m (loss widened AU$20.3m from FY 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Commercial Services industry in Australia. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 118% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Intelligent Monitoring Group Limited to Report Fiscal Year 2025 Final Results on Sep 30, 2025 Intelligent Monitoring Group Limited announced that they will report fiscal year 2025 final results at 3:12 PM, E. Australia Standard Time on Sep 30, 2025 Announcement • Aug 26
Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire Western Advance Pty. Ltd. for AUD 4.5 million. Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire Western Advance Pty. Ltd. for AUD 4.5 million on August 26, 2025. A cash consideration of AUD 4.5 million will be paid by Intelligent Monitoring Group Limited. Reported Earnings • Aug 26
Full year 2025 earnings released: AU$0.04 loss per share (vs AU$0.007 loss in FY 2024) Full year 2025 results: AU$0.04 loss per share (further deteriorated from AU$0.007 loss in FY 2024). Revenue: AU$174.9m (up 44% from FY 2024). Net loss: AU$17.6m (loss widened AU$16.0m from FY 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Commercial Services industry in Australia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 25
Intelligent Monitoring Group Limited to Report Fiscal Year 2025 Results on Aug 26, 2025 Intelligent Monitoring Group Limited announced that they will report fiscal year 2025 results on Aug 26, 2025 Announcement • Jun 30
Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire remaining minority stake in Mammoth Security Pty Ltd from Adam Woolston and Evan Comb for AUD 1.4 million. Intelligent Monitoring Group Limited (ASX:IMB) agreed to acquire remaining minority stake in Mammoth Security Pty Ltd from Adam Woolston and Evan Comb for AUD 1.4 million on June 30, 2025. A cash consideration of AUD 0.6 million will be paid by Intelligent Monitoring Group Limited. The consideration consists of 1.64 million common equity of Intelligent Monitoring Group Limited to be issued for common equity of Mammoth Security Pty Ltd.
The expected completion of the transaction is July 1, 2025. Upon completion, Intelligent Monitoring Group Limited will eliminate the earn-out payable to the Adeva vendors related to the transaction acquiring Adeva Home Solutions Pty Ltd in May 2024. Reported Earnings • Feb 28
First half 2025 earnings released: AU$0.029 loss per share (vs AU$0.018 loss in 1H 2024) First half 2025 results: AU$0.029 loss per share (further deteriorated from AU$0.018 loss in 1H 2024). Revenue: AU$80.8m (up 45% from 1H 2024). Net loss: AU$9.07m (loss widened 214% from 1H 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Australia. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jan 29
Intelligent Monitoring Group Limited to Report Q2, 2025 Results on Jan 30, 2025 Intelligent Monitoring Group Limited announced that they will report Q2, 2025 results on Jan 30, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Dec 17
Independent Non-Executive Director recently bought AU$54k worth of stock On the 11th of December, Mark Allen Brisson bought around 100k shares on-market at roughly AU$0.54 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$90k more in shares than they have sold in the last 12 months. Announcement • Nov 09
Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million. Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 41,666,667
Price\Range: AUD 0.48
Discount Per Security: AUD 0.0216
Transaction Features: Subsequent Direct Listing Announcement • Nov 07
Intelligent Monitoring Group Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. Intelligent Monitoring Group Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,250,000
Price\Range: AUD 0.48 New Risk • Nov 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$150.9m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$150.9m market cap, or US$99.7m). Announcement • Sep 27
Intelligent Monitoring Group Limited, Annual General Meeting, Oct 29, 2024 Intelligent Monitoring Group Limited, Annual General Meeting, Oct 29, 2024. Location: adt security, level 1 unit 38, 38-46 south street, rydalmere nsw 2116, Australia Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.007 loss per share (vs AU$0.09 loss in FY 2023) Full year 2024 results: AU$0.007 loss per share (improved from AU$0.09 loss in FY 2023). Revenue: AU$121.8m (up 270% from FY 2023). Net loss: AU$1.60m (loss narrowed 87% from FY 2023). Over the last 3 years on average, earnings per share has increased by 148% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Intelligent Monitoring Group Limited Announces Executive Changes Intelligent Monitoring Group Limited announced the appointment of Eason Ramanathan to the role of Chief Financial Officer (CFO) effective 1st December. Eason will replace Roy Kelly who will step into a senior, long-term projects-based role for the business to initially focus on the important work of systems improvement and separation from the ADT Vendor. Eason joined IMG in October, and was previously the financial controller for ADT Pacific, prior to IMG's ownership. His familiarity with the ADT business will be particularly valuable as IMG works through the 12-month Transition Agreement with JCI. Announcement • Sep 19
Intelligent Monitoring Group Limited, Annual General Meeting, Oct 26, 2023 Intelligent Monitoring Group Limited, Annual General Meeting, Oct 26, 2023, at 14:00 E. Australia Standard Time. Location: ADT Security Level 1 Unit 38 38-46 South Street Rydalmere NSW 2116 Rydalmere New South Wales Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to adoption of remuneration report; to re-election of director Robert Hilton; to re-election of director Alexander Jason Elks; to appointment of auditor; to approval of 7.1a mandate; and to consider other matters if any. Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.09 loss per share (vs AU$0.081 loss in FY 2022) Full year 2023 results: AU$0.09 loss per share (further deteriorated from AU$0.081 loss in FY 2022). Revenue: AU$32.9m (up 42% from FY 2022). Net loss: AU$11.9m (loss widened 184% from FY 2022). New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-AU$3.0m). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$50.7m market cap, or US$32.9m). Announcement • Aug 02
Intelligent Monitoring Group Limited (ASX:IMB) completed the acquisition of Tyco Australia Group Pty Limited from Signature Security Group Holdings Pty Limited. Intelligent Monitoring Group Limited (ASX:IMB) entered into an agreement to acquire Tyco Australia Group Pty Limited from Signature Security Group Holdings Pty Limited for AUD 45 million on June 13, 2023. The consideration is subject to customary adjustments for working capital, cash and debt amounts on completion. Intelligent Monitoring Group will fund the Acquisition and refinance its current debt via a combination of a new AUD 80 million 3-year debt facility. As of September 2022, Tyco Australia reported revenue of AUD 95 million and EBITDA of AUD 25 million. Neu Capital is acting as debt adviser to IMG. Isaac West of Jones Day is acting as legal adviser to IMG. The deal is expected to complete on August 1, 2023.Intelligent Monitoring Group Limited (ASX:IMB) completed the acquisition of Tyco Australia Group Pty Limited from Signature Security Group Holdings Pty Limited on August 1, 2023. Announcement • Jul 24
Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 2.717489 million. Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 2.717489 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,984,304
Price\Range: AUD 0.16
Discount Per Security: AUD 0.0096
Transaction Features: Subsequent Direct Listing New Risk • Jul 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-AU$3.0m). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$42.6m market cap, or US$29.2m). New Risk • Jul 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Negative equity (-AU$3.0m). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$30.1m market cap, or US$20.1m). Recent Insider Transactions • Jun 16
Head of Customer recently bought AU$53k worth of stock On the 14th of June, Robert Hilton bought around 250k shares on-market at roughly AU$0.21 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$83k more in shares than they have sold in the last 12 months. Announcement • Jun 14
Intelligent Monitoring Group Limited (ASX:IMB) entered into an agreement to acquire Tyco Australia Group Pty Limited from Signature Security Group Holdings Pty Limited for AUD 45 million. Intelligent Monitoring Group Limited (ASX:IMB) entered into an agreement to acquire Tyco Australia Group Pty Limited from Signature Security Group Holdings Pty Limited for AUD 45 million on June 13, 2023. The consideration is subject to customary adjustments for working capital, cash and debt amounts on completion. Intelligent Monitoring Group will fund the Acquisition and refinance its current debt via a combination of a new AUD 80 million 3-year debt facility. As of September 2022, Tyco Australia reported revenue of AUD 95 million and EBITDA of AUD 25 million. Neu Capital is acting as debt adviser to IMG. Jones Day is acting as legal adviser to IMG. The deal is expected to complete on August 1, 2023. Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.035 loss per share (vs AU$0.019 loss in 1H 2022) First half 2023 results: AU$0.035 loss per share (further deteriorated from AU$0.019 loss in 1H 2022). Revenue: AU$15.9m (up 30% from 1H 2022). Net loss: AU$4.58m (loss widened AU$4.03m from 1H 2022). Announcement • Feb 16
Intelligent Monitoring Group Limited to Report First Half, 2023 Results on Feb 28, 2023 Intelligent Monitoring Group Limited announced that they will report first half, 2023 results on Feb 28, 2023 Announcement • Dec 12
Intelligent Monitoring Group Limited Announces Resignation of Jane Prior as Joint Company Secretary Intelligent Monitoring Group Limited announced that Jane Prior will step down as Joint Company Secretary with immediate effect. Announcement • Nov 29
Intelligent Monitoring Group Limited Appoints Jason Elks as Non-Executive Director, Effective 1 December 2022 Intelligent Monitoring Group Limited announced that Mr. Jason Elks has accepted the role of Non-Executive Director, effective 1-December-2022. Jason is a skilled and seasoned executive who has been involved in significant organizations and led change and growth strategies. He has hands on experience in both the change and growth stages of a business and his hands on approach will be helpful as look to build a high performing and significant business in IMG. Board Change • Nov 16
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Deputy Chairman & CEO Dennison Hambling is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Nov 14
Intelligent Monitoring Group Limited Announces Resignation of Dimitri Bacopanos as Non-Executive Director Intelligent Monitoring Group Limited announced the resignation of Mr. Dimitri Bacopanos as a Non-Executive Director of the company. Dimitri has been a director of the Company since 2016, and has remained a Non-Executive Director through the transition of the Company from the Mining Boards to an Industrial, and a major player in the security industry in Australia. As the sole remaining director from the restructuring, Dimitri feels the timing is right to move onto other interests. Announcement • Oct 07
Intelligent Monitoring Group Limited, Annual General Meeting, Nov 28, 2022 Intelligent Monitoring Group Limited, Annual General Meeting, Nov 28, 2022, at 14:00 W. Australia Standard Time. Location: offices of BDO, Level 9, Mia Yellagonga Tower 2, 5 Spring Street Perth Western Australia Australia Agenda: To consider re-election of Directors. Reported Earnings • Oct 04
Full year 2022 earnings released: AU$0.081 loss per share (vs AU$6.50 loss in FY 2021) Full year 2022 results: AU$0.081 loss per share (improved from AU$6.50 loss in FY 2021). Revenue: AU$23.1m (down 9.3% from FY 2021). Net loss: AU$4.18m (loss narrowed 73% from FY 2021). Announcement • Sep 30
Intelligent Monitoring Group Limited Announces Appointment of Neil Green as Joint Company Secretary Intelligent Monitoring Group Limited announced the appointment of Neil Green as joint Company Secretary of the Company with effect from 30 September 2022. Reported Earnings • Sep 02
Full year 2022 earnings released: AU$0.081 loss per share (vs AU$6.50 loss in FY 2021) Full year 2022 results: AU$0.081 loss per share (up from AU$6.50 loss in FY 2021). Revenue: AU$23.1m (down 9.3% from FY 2021). Net loss: AU$4.18m (loss narrowed 73% from FY 2021). Announcement • Jun 20
Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 9.975625 million. Intelligent Monitoring Group Limited has completed a Follow-on Equity Offering in the amount of AUD 9.975625 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,463,155
Price\Range: AUD 0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,041,012
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Transaction Features: Rights Offering Announcement • May 20
Intelligent Monitoring Group Limited (ASX:IMB) entered into a binding agreement to acquire Mammoth Technology Group Pty Ltd for AUD 3.4 million. Intelligent Monitoring Group Limited (ASX:IMB) entered into a binding agreement to acquire Mammoth Technology Group Pty Ltd for AUD 3.4 million on May 20, 2022. The consideration includes AUD 2 million in cash and issuance of 8 million shares of Intelligent Monitoring Group. Intelligent Monitoring Group intends to conduct an equity raising of AUD 10 million via an accelerated 1 for 1 non-renounceable entitlement offer of fully paid ordinary shares in Intelligent Monitoring Group. The proceeds raised from the entitlement offer will be used to fund the cash component of the acquisition of Mammoth. Mammoth founder and Chief Executive Officer, Rob Hilton will be joining Intelligent Monitoring Group as an Executive Director. Subject to shareholder approval, Rob Hilton is eligible for AUD 2 million in performance rights, which are subject to the vesting conditions as Rob Hilton remaining employed with Intelligent Monitoring Group for a period of three years from the date of issue and the share price of Intelligent Monitoring Group reaching AUD 0.4 per share. In conjunction with the transaction, Dennison Hambling, Executive Director of Intelligent Monitoring Group will be moving into the role of Managing Director. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Dimitri Bacopanos was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 21
Non-Executive Director Derek La Ferla has left the company On the 20th of September, Derek La Ferla's tenure as Non-Executive Director ended after 6.1 years in the role. As of June 2021, Derek still personally held only 1.18m shares (AU$53k worth at the time). Derek is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.13 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Sep 01
Full year 2021 earnings released: AU$0.065 loss per share (vs AU$0.14 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: AU$25.5m (down 7.8% from FY 2020). Net loss: AU$15.7m (loss narrowed 52% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Board Change • Jul 29
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Dimitri Bacopanos was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.