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So 262599 @ 18.85p (£49500) done but seems to be a bit of selling after that print. Still a few sellers about it seems but no real pressure.
I've been adding just now in a few chunks.
Until Nanoco can offer more information on the products its materials are being used in, or secure orders that can bring the company to a point of break-even (at minimum).
They've been in a similar position ten years ago, with plenty of cash and lucrative contracts just on the horizon. The difference is that now they're pitching for the sensor market and they have sold some materials, but not a great amount. The company is smaller, along with its costs but the contracts it's pitching for are also smaller- remember back then they were talking volumes in the hundreds of millions of pounds.
The five year development cycle strikes me as arbitrary, dreamt up to manage expectations. The original Apple contract went through its development cycle in under two years, so if it's now extended it's probably a consequence of either greater challenges with Gen 2 materials or simply the companies involved aren't too pressed to throw more money at it.
First paragraph should have said-
Until Nanoco can offer more information on the products its materials are being used in, or secure orders that can bring the company to a point of break-even (at minimum), I don't see this share breaking out beyond its present position.
Well looks like the broker messed up the buy back print put it in at the wrong price then reversed it which has boosted the volume…should have just cancelled the trade and printed again…now it looks like painting the tape to make it look like there was more volume!
Does it matter?
Surely what's more important is the size of the market the company is operating in and where the tech is being used. Currently, we don't know either.
Maybe LordWM knows something - bet he's adding more chunks ATM !
My understanding is that the product referred to by Nanoco is the chip now being marketed by STmicro. Producers of products for consumers now have to decide whether to use those chips. That is bound to take a little time and typically would first be used in high end, low volume products before reaching the mass market. Nigel Picketts, after years of not selling, took the recent opportunity to sell at 24p so I am not expecting any exciting announcements in the short term. Once the £3m share buyback programme is finished buyers may be in short supply. And there will always be holders who need, or decide, to sell.
Nanonano you are posting on a thread called buy back print asking whether commenting on the share buyback prints is relevant.
In the absence of anything else not trolled over endlessly its about all there is to discuss…the fact we have no knowledge of what product its in or what end user /market there may be has been somewhat covered already.
If anyone has anything that throws any light on the detail of the promised commercial build up then please post.
For anyone interested i think before today they have bought just over 6m share back for just under £1.3m for an average 21.23p…
They have reduced their purchase amount but still account for most of the buying on any given day..close to 50% ..but they seem to be drifting even with that support. It makes sense the company buys back as low as possible and not give an exit higher than necessary to those who want out. With an average 21.23p they already look to have been rather generous.
Hi Kooba, I've been tracking this and as of yesterday I have:
£1,285,692,19 spent
6,278,428 shares acquired
£.20478 average price
So not as generous (which is good) and the average price is reducing as the price drifts down.
Date Shares Ave Price Spent
11/04/2024 270,000 0.21200 £57,240.00
12/04/2024 70,000 0.21770 £15,239.00
15/04/2024 60,000 0.22800 £13,680.00
16/04/2024 426,439 0.23322 £99,454.10
17/04/2024 760,868 0.22757 £173,150.73
18/04/2024 468,639 0.21125 £98,999.99
19/04/2024 497,162 0.19913 £98,999.87
22/04/2024 490,137 0.20198 £98,999.83
23/04/2024 492,214 0.20113 £98,999.99
24/04/2024 496,427 0.19943 £98,999.95
25/04/2024 497,737 0.19890 £98,999.89
29/04/2024 253,783 0.19308 £48,999.91
30/04/2024 261,213 0.18950 £49,499.86
01/05/2024 257,812 0.19200 £49,499.90
02/05/2024 192,441 0.18930 £36,429.47
03/05/2024 258,447 0.19153 £49,499.84
07/05/2024 262,599 0.18850 £49,499.91
08/05/2024 262,510 0.18856 £49,499.94
Yep sorry missed one days purchase in share tally not in cash. The cost will be higher than your figure once stamp and commission added so i think £1.297m is minimum spent so far . ..which equates to 20.66p per share.
Still might prove to have been rather generous when the company was paying over 23p in the market..around the time sales to cover director taxes were made.
Difficult to work out what if anything they have done today.not normal pattern.
S no buyback announced for yesterday and no print on the close tonight that indicates they were active today..yet.
There was an odd print from after hours last night in 515545 shares at 18.5p..but that would have had to be announced 7am this morning if it was them. So are they taking a breather on the buyback to let the stock settle having done about £1.3m of the £3m committed?
While buy back proceeds it would be irrational to announce any news on commercial progress, unless it was of a nature where an announcement was obligatory. News that would affect the share price upwards would adversely affect the success or the cost of the buy back, so even if there were news of progress i would expect the company to be reluctant to announce it unless it had to.
Having said that there is a history of empty optimism, hopes being raised and then just left to fade with this company, and the general disappointment with the litigation result has taken most of the shine off. Transformational indeed. I just can't bear to crystallise the loss for the sake of a few thousand otherwise I'd sell.
Any thoughts on pausing of Buyback?
- Cash needed elsewhere?
- Material news coming?
- In a closed period?
- Just decided to take a pause?
Hi Paul
The company has just over £1.7m left, of effectively ringfenced cash, for further share buybacks.
The SP has drifted on a declining volume of share trades. There was roughly £2.1m of trading between 19 - 21p (outside of company buyback) but only about £375k between 18 - 19p so far. It could be the company isn't as easily able to make purchases when there are fewer sellers without uplifting the SP (on the days there is increased buying from others)? One day recently the company bought back just £23k which was 68% of all trades on that day.
As for news, and as Barbon said, in terms of share buybacks at best price it would be better for the company not to release any news! But there are rules the company has to play within so if it's material news they will need to release a RNS.
In terms of what news could come along, it could be more material orders (but as mentioned before I don't think the company will have to notify non-material additional orders from ST) and the company has already said they expect more orders this year. Announcing a new joint partner would be good news and the company has said they anticipate that happening in the near future. They also indicated that the customer / partner would be display focused which indicate they are already courting that company... It would clearly be great to have irons in fires of both sensors and displays.
The cadmium clampdown in conjunction with our proven IP gives us some good new potential in display. Hearing that a major mobile phone provider wants to put the new ST sensors in their handsets is clearly the news we all want to hear but it's no longer about needing one single event as we aren't just working with one customer on one product.
When news does come along it should have more of a positive impact as there are now far fewer shares in issue.
Most certainly one would expect good news to have a positive impact, surely that goes without saying.
The problem is that there is no real indication when or if it will arrive or if the next news will be good anyway.
Of course none of that will be news to anyone !
Again no buyback announced as i expected , so a two day pause in market activity.