Great appointment of Steve James to the role of independent chairman with Nick Armstrong moved to non exec director focused on new business. Steve James extensive experience in senior board and management positions in both public and private positions including Commonwealth Bank. Commsec, Motorcycle Aus and Seers Asset Management will be telling in moving ID8 to new contracts. His experience across the financial industry along with new CEO John Raymond who has closed numerous deals across selling solutions to financial institutions sets up a solid team to turn ID8 around and nail new contracts.
With the globe and financial service industry under extreme both cost pressure and government compliance pressure ID8 is perfectly positioned now with the right team to take advantage while also we have seen a significant cut in running costs. With the recent rights issue giving the company some cash to push forward there is still the significant shortfall that may attract some decent investment opportunities for a financial service industry party to want to both lock in a contract with ID8 but also come on the register as holder. With 3 months to place that stock i see the perfect opportunity opening up for an investment + contract opportunity. 7c was a seriously good top up opportunity which i took up in my rights while also taking overs. Looking forward now to seeing what the new team can do here.
ID8 Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
