News blog

Independent International Investment Research

  • BY: Andrew Hore |
  • POSTED: 16/09/2008 |

Independent International Investment Research says that the demise of Lehman Brothers could hit its revenues. 

Lehman, which is in Chapter 11 bankruptcy protection, is one of IIIR’s biggest clients. The loss of this business would have a significant effect on the research provider’s revenues and profits.

IIIR provides research to the broker-dealer part of Lehman. This may still be bought by a rival. Even if it is, though, there is no guarantee that the buyer will still want IIIR’s research.

IIIR is planning to cancel its Aim quotation in order to reduce its costs. It may have to cut them further if the Lehman business is lost. IIIR admits it is not in a strong position to raise additional working capital. There may be longer-term opportunities from the shake up of the world financial sector but IIIR may have limited resources to take advantage of this.

The IIIR share price fell 1p to 1.5p, valuing the company at £390,000. Net debt was £253,000 at the end of February 2008.

© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds