Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Nice fundraise!
https://www.lse.co.uk/rns/NANO/trading-update-and-proposed-fundraising-a392iv9iheh7wt6.html
No pennies at the minute or I'd get involved! Doubt you will get under 20p on the open market again ...
So this is what dragged down the good lawyer funding news... and today’s magical last second drop at close. The good news is that we should now have a clear runway and no more “surprises” from typical Nano for a while... so as the Directors are also increasing as well... let’s see.!
£2.2m is small change, so presume no more needed. So little and as such a small discount has to be good news.
Only said a couple of days ago, didn’t want to avg up. But in for a penny in for a pound, only requested £1k.
Have been with Nanoco for a while & got in bid for 2K
Use fundamentals along with TA
If you use TA then there is resistance at 19p.
Hope we can get through this & now puts us in a stronger position.
Good job they are getting PI involved although cannot buy though my ISA
GLA
Just added recently so don't have any more funds. But presumably this fund raise puts paid to any doubts about Nanoco being "a going concern" for its accounts. Not sure why RNS talks about a "minimum" share raise. I am assuming they are not intending to raise the number of shares issued if offer is over subscribed.
So how will this affect the SP tomorrow and going forward I wonder. I think this action is good news yet I was slightly disappointed on the trading update. It seemed to be "nothing" dressedup as something by careful wording. For example it says " Recently won development contract for a new technology application in the Display sector.", I read development contract as the scientists being paid for their time + a bit. We need to produce products in volumetomake real money. Yes I know it also said " Our development work in the Sensing and Display sectors both have the potential to lead to medium term commercial production utilising our Runcorn facilities." but then again it is just "potential" (i.e. jam tomorrow).
So mixed feelings about these two RNS today!
We only need that much to see us through to the end of 2021 when you add the existing revenue stream in. So now we have a very clear runway.... with some director buys as well in the RNS so positive positive positive....
Didn't see that coming today, but it does mitigate the main risk in the company which is running out of cash.
Stings a little bit when I just bought some more shares for 19p ish yesterday, but hey ho. I don't know how I would transfer these shares into my isa anyway (is that possible via primarybid?)
Just read up on the JBongo. I subscribed to PrimaryBid this evening and noted they will not deposit the shares in an ISA/SIPP, only a general investment account. That, along with little difference from the current SP, has stopped me from bidding in this offer.
Thanks. Yeah I'm not going to bother either. They didn't have my broker (fidelity) in their list of brokers either. Odd - not like they're a diddy unknown broker!
Tried registering with Primarybid but they want me to contact them and provide a copy passport so they can do ID on me. Only been at the same address for 23 years and I can't see them clearing me by 9.00pm or earlier fill, so I 'm out of this one I am afraid. I would not have put much more in anyway. Good luck everyone and hope this gives the SP a good lift tomorrow.
NB Tempted with a modest top up botbot?
They haven't given much time for people to get involved have they? You would think a couple of days would be more sensible than 3 or 4 hours
Ddubya, there is never anything "modest" about botbot's top-ups. He is probably writing to Nanoco right now asking them why they didn't contact him earlier if they only needed a couple of million quid!
It appears that Richard Griffiths sold 3,377,242 shares on July 14. Is this coincidental?
If you believe that, you'd believe anything.
I think the fund raise is there chiefly to satisfy the auditors- they lack sufficient cash to be signed off for the next financial year, and with no sales of significance in the next 12-16 months, assuming they materialise at all, it would have meant significant change to continue as a going concern.
I think there will be another more substantial fund raise unless they can drum up some significant business in the next year, or Samsung offer a satisfactory deal.
I think you are spot on that Auditors wanted to include a 'going concern' qualification Nanonano, something this raise will negate. However, for me, the miniscule discount, more exec money and low size of the raise strongly suggests they have confidence of securing orders and income and possibly even being cash positive end of Q421. Otherwise, a much larger raise would have been the right thing to do and at larger discount. Guess we shall not know for certain until the passing of yet more time but to me, it feels like everything is now falling into place.
My timing is awful again. I only top up 2 days ago...One day I get this right. Taylor wimpey did same thing few months ago. Sp went down at first ...
Seems to need it for present activity - afford deal arrangements, maintain high level staff for research and development - not for extending next year's cash.
"The Fundraise will enable the Company to address further new commercial opportunities, while also maintaining our balance sheet during the lawsuit against Samsung. The Fundraise will also add stability to the business and allow us to retain many members of our highly skilled team.
Nanonano , I agree this is about ensuring they can meet the "going concern" criteria at their end of financial year, but it does give them much needed breathing space, the dilution is tiny, the discount to the current SP is faily small. All told a good move on their part I think. I have already stated (in other words below) that I think the trading update is a big nothing burger dressed up to look like progress is being made. But now all is to play for, and I suspect the SP (maybe after a few wobbles at first) will now break th 20p barrier in short order. So I am not unhappy even if still a bit skeptical until I see payments for products come rolling in.
Screenlearner and ddubya... I can’t buy anymore. I don’t have any money. I bought 25,000 Carnival shares and 100,000 IAG shares... so today my portfolio went up quite a bit.! All in my ISA as well.
Sorry I forgot to mention that I suspect this is also a way of putting Samsung under pressure. Two birds with one stone so to speak! ME recently said settlements are usually reached BEFOREgoing to trial, a wording that suggests he might have expectations (even if misplaced) that a deal with Samsung may be possible or even likely before the end of August maybe. Or am I reading too much into what he was saying?
You are not alone Maninpink. I first bought in here around £1.70 many years ago around 90% down :( It may take a while but I think your investment will come good in the end.
Thanks for letting us know botbot :) good recovery plays.
SL. Unfortunately August is not the trial.... so if there was a deal even being takes about internally by Samsung they wouldn’t do anything....and we got to August and the judge says trial date early 2021... then discussions will then start to happen... maybe...