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Looks like he has sold over and above the tender.
He has gone from 13.084,542 to 3,376,183.
So that looks like a 75% drop in the holding
Likely tendered whole holding ..then depends on where the shares held as to what was accepted i guess. Or has sold further shares post tender. Still has a 3.37m shares.
TG2D ive tried to resist asking…..but what on earth are you going on about regarding Europe and holidays?
So Hamoodi tendered then.
Agreed!
I can't see there being anything meaningful announced this close to the tender offer concluding and the buyback still underway.
At this rate, the buyback will cover the treasury shares and we'll be at just under 200m shares in total.
The question is what happens then? Is commercial order news expected over the next few weeks?
As of Friday:
2,553,108 shares purchased in approx one week
£556,763.69 spent (18.56% of £3m)
£0.21807 average price paid
SP has dropped a little, still plenty to go to prop it up.
At this rate the £3m buyback should be complete in around 5 weeks from commencement - Friday 17th May.
Call it just under 200m with employee share benefits.
The question is whether there is £40m of value here.
Well possibly with £23m cash +IP +Runcorn +Business.
Runcorn was expanded. I don't know about the leasing arrangement, but Nanoco and Apple have put lots into it, which Nanoco own.
It's likely to be worth at least £10m.
£7m for IP and the business seems ridiculous, but it's unproven.
IF value from the business can become clearer, there's potential for Nanoco shares to rise.
I'm back to hold, I don't think 16-17p will be realized.
Kooba
A further complication is that the £3m gets used up be end May possible early June just when most of Europe start going on their summer holidays, July August being peak season.
Re the buy back , If they complete the buyback at current levels averaging say just above 21p then they get to buy back 14m shares for the £3m reducing the shares outstanding to 186m but the cash then falls to £23m or 12.3p per share. It really is about the commercial delivery knowing whether paying that premium now makes sense or not ..time will tell.But when it gets close to using up the £3m committed it will be interesting to see if new EV levels hold up or revert to pre tender market value equivalent levels.
Troublesome..it’s all a conspiracy i tell thee..I got to the office early today just to delete any Charty posts..LOL.
Anyway happy Earth Day for all the cruisers and non cruisers, the overconfident and the slightly more pessimistic with life experience.
One day there may be some real details of how the materials are to gain commercial traction so we can discuss the guidance given in more detail.
Good to see our 3m being spent at such a low price, the more we can buy and cancel at these prices the better. Good to spend the lot now before we release the good news later this summer instead of drip feeding the 3 m over the whole year.
Seems charty's message from the Maldives has been removed - not for sheer embarassment surely !
Wonder if he's still smiling or grimacing instead ?
Seems charty's message from the Maldives has been removed - wonder why ?
Not sure whether he'll keep smiling or be grimacing instead.
It wouldn't surprise me if LOAM agreed the floor price for the £3m 'on market' buy back so that they extracted as much cash at the highest share price at retail investors expense stuck watching the share price decline to mid teens if not lower as there is only the £23m cash remaining to support it!
Another £100k burnt through at 19.91p allowing LOAM to dump shares and extract more cash in doing so!
Mmmm
Situational irony or downright hypocrisy !
What about 21 Best Jesse Livermore quotes for traders :
https://traderlion.com/quotes/jesse-livermore-quotes/
I always try to post a link to articles I think relevant so folks can read the whole thing even if the article was 5 years old and written by a PR guy.
https://www.yorkshirepost.co.uk/business/the-need-to-put-to-an-end-malicious-postings-on-investor-bulletin-boards-1751978
I would be delighted if there was more stringent adherence to the codes of conduct myself as I think these boards have real use..as it goes so does BT as he used the fact something was mentioned on a chat room rather than the company once as proof of market guidance..that was interesting.
As to analysis of selling. It's an order book, so order driven not price driven. So if an order such as a buyback is working on the bid and absorbing selling is it a sell ? or a buy by the company. The analysis on these and other boards is not a definitive breakdown of buys and sells at all ..it just guesses around the spread. So it is impossible to isolate what is a buy or a sell. Though I would guess there were more sellers than buyers into the end of the week as the shareprice reset to find an equilibrium. See where it goes from here but unsure they will rerate until there is some transparency and news flow around ant commercial build up.
Morbox ..until that announcement no one in the market had a clue the company would be selling a chunk of its already scaled back IP portfolio even if they did delve into the court documents showing ALL the models ! Who knows what Samsung wanted and why !
Just find it a bit dull when apparently we all should have dug below the surface into court documents and not trusted the company sponsored narrative around the settlement to get a view…which would have been totally at odds with the company narrative and marketing. . Now when we do question the latest narrative we are told you have some dark reason to be doing so and must be on some payroll. The estimates of post tender valuation on a like for like basis were explained and fact based but were in hindsight attacked by newbies who had no pre tender view expressed and tried to foster a only way is up viewpoint in the process…that indeed was just a view but was put forward as some sort of fact and any other view was rubbished , I hope folks didn’t jump in at the wrong level.
Some might reinvest sure but not sure after the initial odd response there is there a real hurry?
As to what some of the larger holders who tendered their whole holdings do..seems anyone’s guess. If they factored in the all important ( apparently) reduction in shares outstanding rather than the resulting cash impact per share then it would be odd if they thought they could buy them all back at a significant enough discount to tender. But LOAM are the professionals and I’m sure know what they are doing.
Just one other point about the trust in the board, on the 3rd Feb 2023 but the settlement, they stated within a RNS that “ Settlement structured as a sale of non-core patents and a global, perpetual, fully paid up licence agreement”.
Those “non-core patents” actually turns out that one was core. Just another example how the board communicated during the settlement.
@Kooba
Don't push him too hard, he'll be booking a trip to the Indian Ocean !