Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Prion25 - It may be good news. But as there's no mention of any sales orders, the market has largely dismissed it for now. Indeed, IQE's price is down so far today.
I'm increasingly sceptical of companies trying to jump on the AI bandwagon to give their share price a short term boost. So I'd treat any RNS like this with caution, until there are firm numbers to prove any impact on the bottom line.
From today’s News l like the bit below mentions AI must be good for the future?
, IQE is further demonstrating the technology's scalability, enabling a step change in volume manufacturing to satisfy an increasing demand for DFB lasers. This also ensures optical interconnect technology remains cost competitive, as network traffic scales to meet the requirements of generative AI and data intensive applications.
So the 2.5m trade from a few days ago was likely Invesco as their holdings has dropped by 2.5m.
In theory but not for IQE it seems not. Maybe the rules are not this simple. Maybe shares held in different funds. They used to use Hales Hargreave and Marlborough funds. They have since renamed Hales Hargreave to Canaccord.. Think they have used Canaccord brand for a few years now.
Gotrader - if you look it up, you’ll see the FCA states every 1% - NOT every 5% - increment should trigger a TR-1 notification. So all still looks very odd to me - and non-compliant.
Gotrader - Like anyone else, Canaccord are OBLIGED to issue an RNS if a 10% holding threshold is crossed.
At it again. 2.5m trade gone through. I would think Invesco would want to pass 11% before next announcement. Still not clear if reducing to x% or clearing fully. Fact Cannacord did RNS suggests they intend to buy more.
RNS Invesco cleared about 17m shares.
No. Hence why they now say 5%-10%.
Surely the various increases you’ve documented in Canaccord’s holding would have triggered multiple RNSs prior to this one???
At the risk of sounding like a cracked record, how do you explain the RNS then, stating Canaccord’s holding had increased from just above 5% to just above 10%?
Seems unlikely they’d issue a single RNS, summarising a holder’s change in ownership going back a full 2 years?
Late trade for 10M shares. 18.1p at 09.38am
Cancacord shares updates via IQE website.
Jan 2021 52.8m
April 2021 58.1m
September 2021 64.7m
July 2022 - 70.456m
31 Jan 2023 71.71m
30/06/2023 85m (Likely took on 10M shares from share issue.)
15/09/2023 96.8m
Which is about 12m more shares Since June 2023. Over 2 years 46m more shares. They are sitting on a pretty big loss. Those 50m shares arrived over 2 years.
22/06/2023 Invesco had 153m shares.
11/08/2023 134m To date they likely have less shares If they are the current seller I would expect that to be 120m or lower now.
It's possible other funds are also active too. In last week or so 45m shares have changed hands of which we can account for about 12m. Let's see what other holding RNS follow. So far it does not look like one new big investor will take out Invesco.
Not doubting they have added 50m or so shares. They have been at 8-9% before Invesco started to sell. They likely took on some of the share issue too. Which is why I think they have probably bought about 10m or so of Invesco shares.
I never said they'd added 50m shares in the last week.
Just that they'd added 48,638 328 shares since their previous notification, moving from just over 5% to just over 10% of IQE's total voting rights. Presumably hoovering up Invesco sales?
Sure. But your link refers to the position on 30th June. The latest RNS took effect on 18th September and I don't see how my reading of it can be wrong?
Https://www.iqep.com/investors/major-shareholders/
They have not added 50m shares in last week. See link. At best they are gaining 3-4m shares a day. Like I said about 10m shares. More shares have been traded since their announcement.
Gotrader - unless I'm doing something wrong, I think Canaccord have added far more than that?
As of 31 July 2023, the total number of voting rights was 961,460,653.
Canaccord has doubled their % of this total from 5.0119% to 10.076%.
So they've added 5.0641% x 961,460,653 = 48,638 328.
Ebidta does not cover their 32m yearly admin cost.
Holding RNS. They actually increased by about 10m shares if you go by major shareholders page unless I missed something?
Obviously they do but it's incremental.
I doubt this deal will add anything to the bottom line this year. I'm very sceptical but will be intesesting to see if they manage to make this statement true, "Improvement is expected in 2024 as the supply chain normalises and customer demand recovers.
The Group anticipates double digit revenue growth in H2 2023 versus H1 2023, and expects to be profitable at an adjusted EBITDA level for FY 2023. "
Need a lot more than this. Broker site suggests £117m this year. Meaning they are not covering 24m of admin and other expenses. They will be losing at least 23m or so this year.
Good stuff. If we're going to put the last few years terrible results behind us we need more of these. Should see more immediate results from GaN power as well as opposed to further out markets like micro-led display.
14.18m shares traded. Late 5M trade after close at 17.5p. Should get a holding RNS from buyer and seller sooner or later. That or trades will ramp up until the seller has cleared. I wonder if the buyer took any of the 150m share issue?
Invesco likely still selling so expected.
China banning iphones will impact IQE severely in the short to medium terms.
Until this tech trade war between US and China is settled, IQE will continue to be fighting an uphill battle