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Regards further large orders I guess we'll just have to wait for all the bragging and trumpeting to take place from the customers who've been supplied with material. Given the time taken for adoption into final products, may have to wait at least another 12 months for the clarion call.
There was a question ( from Nanonano??) about Samsung partnering with an image sensor company ..that they said STM already has an agreement with. So it seems the big boys spread amongst different partners ..which I think is natural. Do we know if STM or the other ASian companies also spread their development risk with other QD companies? Everything is so clothed in secrecy it’s difficult to know if we are the only horse they are backing ..if you are going to build a $500m oil rig do only get one firm to draw up plans and quotes??
The soap one is basically saying forget about the end use surely we sell the oil to STM then they do with as they please..seems very STM reliant so trust they are aligned. Good news is hopefully there will be more than one customer in due course but for second gen and some way off.
Short term it’s all down to STM to make a market it seems and from the sounds of it generated GEN 1 sales of £8m per annum to give an annualised cash flow breakeven at some point in 2025.
Difficulty with that is that BT said it’s unlikely there are ongoing supply arrangements more of a contracts when needed basis..this could leave very unbalanced revenues to work with or manufacture for I guess.
I had Sony pegged a while ago although Sony Chemicals isn't an entity Sony are still a chemical company within the organisation. Recently various Sony divisions were brought under one umbrella as the Sony Corporation (April 2021) including Sony Imaging Products & Solutions Inc (also Home Entertainment ergo display but I don't think that is relevant here)
I gained confidence that the company is doing the right things. Suggestions they are badly managed are starting to wear thing frankly as they have positioned themselves with good customers and understand the supply chain so it's about stewardship, R&D and innovation moving forwards. The analogies for using a $500m dollar oil rig to drill a $1m return oil well was ok however I preferred the extension of it to knowing what brand of soap the oil ends up in.
These Gen 1 materials are a feedstock and we need to understand that. However as long as Nanoco are the only feedstock then you could say in a few years that every SWIR device with this technology has been enabled by Nanoco and that is valuable PR. But we are not there yet however I am left assuming (due to RHoS exemptions) device manufacturers are happy to use lead if it gains a competitive advantage/unlocks new markets. On that basis I see steady growth as STM punt their wares, or is that wears?
Gen 2 is several years off yet.
I’ve had a listen. I think the questions that were put to BT were excellent, so a well done and thanks to fellow shareholders from me on that front.
I still don’t like his tone around the buyback and the hit he’s implicitly expecting long term holders to take. There was a lot of wilful ignorance in stating facts on this topic which irked me.
That said…Generally I think BT handled the questions pretty well. There seems to be a lot of confidence in the relationship with STM but I can understand his guarded tone and wanting to put a lid on any overconfidence there.
I also picked up a real clarity of thought in terms of their offering and their place within the supply chain and the wider market. The sector seems to be growing but it remains to be seen how much market share Nano can grab, and how well integrated into STM’s plans we can get ourselves…
Looks like we'll never know what the end products are and although enough material has been shipped for 3,4 or 5 million devices which may seem a lot, just 1Kg may contain billions, if not trillions of dots according to BT.
Thanks Nanonano have now watched the Q&As..nothing much new.
Though a few more insights that there is no visibility on future orders but they are confident…talking of there being no ongoing firm orders but normally there are indications that feed into their confidence. ..but the fact is we have had not further orders in over 4 months.
I should have asked why since , as they stress the customer is STM whoever is the end user why since we know the identity of the customer why we can’t have a confirmation of the $ amount of that first order.
Other inconsistency is they said both new NEDs are now serving on the board which is not quite right is it?
“Dr Jalal Bagherli will join the board on 5 April 2024.”
Would expect confirmation to the market properly when Dr Bagherli takes up his seat.
Yes splitting hairs but they need to get the small stuff right to get confidence they are on top of the big stuff.
Not wanting to comment on individual competitors but BT gave QS a good shoeing !!
No real hope of any licence or otherwise revenues in display as far as I could tell ..something that was far more up front post settlement.
Do we think the two development customers with over 200,000 customers each and the two big players in consumer sensors markets are STM and Sony is telling us the other R&D agreement or is that a leap?
Any thoughts thoughts from others?
Not certain how much was new:
BT ' Expects a 3rd global customer in the next 6 months ' - any ideas ?
Interested in the phases of product development cycle i.e. development, optimisation, scale-up, final validation, production. The JDA with STM to optimise the performance of a 2nd gen sensing material over a 2 yr period if all milestones are met would mean I assume, at least another 12 months on top before production assuming everything goes to 'plan'.
Ripley
I don't quite follow your post what are you trying to say?
Tender offer for 24p.
Lombard Odier Asset Management increased on 1/11/23 to 16%
Analysts had expect the price to increase by 187% to 60p ( D )
End of October 2023 hit a low of 15.6p
I see I bought two more times after 11/1/23
17/1/23 for 34p then 20/2/23 for 24p
When I looked for this reminder post 11th January 2023.
Page no longer exists message kept coming up.
Copied
Made a mistake adjusted my buy order at 4.25pm and bought for 40.9p ( on order increased to 41p)
That will teach me to return , instead of heading out .
Mistakes like this worked out ok in the past .
Good job spare funds waiting for a home .
Of course another buy lifted after 10mins on market close auction extra 5min , nearly using the remaining funds .
For those that missed todays meeting.
https://www.youtube.com/watch?v=Oun9bCyzCFA&t=53s
Sorry, I obs meant 61.5%. The calcs are still correct, just made a typo error and then went cut/paste crazy.
You keep mentioning 38.5%+41.5%.
Is my brain not working. Is that not 80%?
Sorry for the repetition at the bottom of that one.
Crow2 - I'm not trying to de-ramp here, but if you intend to take up the tender why not sell 100% today at 21p.
Here are a couple of illustrations based on the sale price:
100% of your shares @ 21p = 38.5% @ 24p + 41.5% @ 19.122p
Or if you can sell for 21.5p over the next couple days:
100% of your shares @ 21.5p = 38.5% @ 24p + 41.5% @ 19.935p
Or if you can sell for 21.75p over the next couple days:
100% of your shares @ 21p = 38.5% @ 24p + 41.5% @ 20.3415p
This way, you're sitting on the sidelines waiting to buy back in if the price drops post tender.
There’s currently about net £56m in cash in the business (after debt repayment) with 324,430,950 shares in issue, and a market cap of £68,950,000. That’s 17.26p per share for cash plus £12,950,000 for the business (4p per share).
Post tender and buy back, there should be around 212,000,000 (approx.) shares in issue, and £23m in cash in the business, which is 11p per share. Assume the same £13m ish value for the business that’s another 6p per share, so 17p total.
The main risk is if the share price rises immediately post tender, but assuming there are no further announcements, is that likely to happen? My feeling is it will be somewhere between 11p and 20p, can’t see it being higher (without further news).
Or if you can sell for 21.5p over the next couple days:
100% of your shares @ 21.5p = 38.5% @ 24p + 41.5% @ 19.935p
Or if you can sell for 21.75p over the next couple days:
100% of your shares @ 21p = 38.5% @ 24p + 41.5% @ 20.3415p
This way, you're sitting on the sidelines waiting to buy back in if the price drops post tender.
I thought this phrase was most meaningful, bearing in mind they have been cagey about quantities until now.
'We shipped enough material that we estimate there's enough for three, four or five million devices in the next 12 months or so.“
The presentatios are always recorded, so you can play them back at any time and they also upload the meetings to their YouTube account.
Sorry troublesome haven't got time right now but it was posted on here and Google search Nanoco for the past week.
I don't think there's much context to be honest, and I'm making a bit of a leap tbh.
@Maxi
Wouldn't like to comment on the remark out of context, any chance of a link ?
Did anyone rear BT's comment in the Mail article saying customer finance directors would need to lie down after seeing Nanoco's balance sheet?
Wouldn't surprise me if STMicro put serious pressure on the company to settle.
I doubt they'll raise the buyback price later, especially when there are insiders taking part in the buyback. They'll just have a special dividend or keep the money (with the reasoning of "well the investors clearly don't want it, we tried..."
I’m out of the country and won’t be able to listen to the IMC presentation. Not expecting anything from the presentation as will be the same as analyst one but if anything interesting comes up on the Q&As would be grateful for any feedback. Hoping can access the whole thing when back next week.
Nothing is being returned. Nanoco is simply giving us the opportunity to sell our shares for slightly better than the market price. This shows that they are not idiots. I bought large numbers of shares with the intent of holding on until Nanoco becomes profitable. Why would I want to sell now when they are nearing some level of success. If the buyback is unsucessful, they will likely raise the buyback price. If successful, the number of shares will have been reduced substantially, causing a eventual increase in value, especially if profitability is achieved in 2025.
I look at the small percentage of the company I own and aim to come out of this exercise owning much the same proportion of the company. Freeing up resources for comparable investment elsewhere while retaining the same interest to any success Nanoco may have in future. My working assumption is that half the shares that could be offered for sale at 24p will be.
Will see what they have to say at the investor presentation tomorrow morning.
I'm not expecting any additional information in the presentation beyond what was given last week for the analyst's call, but I've asked a few questions and will be interested to hear how they (may) answer, and I expect others have done likewise.