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Trading volumes are in line with normal trends. There is no ‘support’.
404x, ouch! Maybe I misread your post. You mentioned a freeze on non-tendered shares. I didn't notice there had been one.
In terms of the buyback the amount that can be purchased is relative to the amount being paid. There is authority for an amount but there is also a limit on cash available.
So ..” the company to buy up to 21m shares today” ….is not the case at 21.5p the company could only buy 14m shares in total…to buy 21m shares with £3m would require a purchase price of nearer 14p..which is a bit off the mark right now. Worth watching volumes short term . Also it is unclear when we might find out if any changes in major holdings but should be notified this week i guess we might find out if any oversubscribed and maybe if some below threshold didn’t subscribe at all and there should be official confirmation of PDMR dealings imminently.
The average daily volume of Nanoco Group PLC shares traded, based on a rolling last 30 days, is 431.8k shares.
The average daily volume of Nanoco Group PLC shares traded, based on a rolling last 30 days, is 431.8k shares.
Source researchtree
Kooba, we are both right. I was careful to quote verbatim "up to" 21m shares. I expect it is more likely to be between 10m and 15m.
Kooba
I think the LOAM TR-1 notice when it arrives shirtly adter 25th April will shock readers by how much they have reduced their 14.5% holding I suspect down to under 9%.
TG2D im unclear what date they need to disclose…i doubt it is at the payment date..the shares will have been sold tomorrow..that is the transaction date and notifications should follow within days of that i would expect…the settlement date when you get the money is not the reference point.
Well xenon how could they have bought up to 21m shares today with the share price where it is? It’s clearly not possible…so not correct.
That £3m on market cash buffer to prop up the share price post buy back won't last long!
The value is not 13p.
£23m cash
Runcorn at £10m
Then the organic business and IP portfolio (not currently valued at all).
It rather depends on whether the sellers would wanted 24p and didn’t get everything sold decide to take down for the balance i guess.
Kooba, it is not possible to be more than 21m. It is highly improbable to be anywhere near that (the price would have to drop a lot today). Technically (pedantically) I am right...
I think regardless of what it does in the near term, those holders who are playing traders thinking some free shares might come their way are taking a pretty big risk if you ask me.
With auto trades you may find Loam selling into the buy back. We will have to wait and see.
Flying high
A reference to 13p is the cash per share following the fully subscribed tender ..if you are quoting me. I made it very clear. Runcorn is a rented property i understand..but they do have plant and equipment worth a few M true.
The balance of the assets are the same as pre the distribution when they were valued at nothing ..so they are now valued at something at current levels.
The company has property lease liabilities of over £100k per month…no £10m factory asset I’m afraid. Think this came up before.
They have property plant and equipment assets of £1.3m last interims but that might go up with latest capital expenditure they have mentioned.
BC, I agree. I thought about using this opportunity to buy in if the SP drops, then my butt cheeks started flapping and I just bought my tendered shares back for a slightly lower sum. So I have the same number of shares today, owning a greater % of the company and received some free money. Time will tell whether I should have listened to my balls or my butt cheeks.
PP, ego sum qui sum. I will only rely on my own balls and butt cheeks to guide me through this life.
Pete I don't even agree with XeNon so wtf you going on about?
Who's Pete or PP for that matter ?
I assume PiratePete but can't see his message - has it been removed ?
Yes it was removed. Clearly someone is not a *** man
Removing his post is sure gonna make my reply look a bit weird out of context..
Suggest you grab on to your guide(s) - don't suppose you'd want them removed !
Despite what is said on this blog, I believe that Nanoco management are neither dishonest or dumb. I cannot conceive that they would have executed the buyback without expecting substantial orders this year. If and when this happens, we will see an upsurge in share price.
The fact that the share tender was oversubscribed is puzziling, but may indicate that LOAM lacks inside information. On the other hand, a large LOAM sale would probably cause the share price to drop, enabling them to buy back shares at a lower price.
I stand corrected If Nanoco fails to receive the anticipated orders this year. I would also lose much of my investment.
I feel that potential upside merits the risk. I am comforted by the fact that Motley Fool (very smart people) have raised their evaluation of Nanoco.