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‘Don’t try to efface history and don’t put a cloak on all the big words that Tenner spouted’
But it is precisely that. History. You’re letting your heart rule your head when it’s abundantly clear this ship is turning around.
As I said with the last RNS, if it’s just a matter of time I’m happy to wait. This takes a lot of pressure off the concept of holding and let’s face it current valuation is absurd. Sentiment will turn, and quickly I feel.
Feeks I’ve always had a lot of respect for you and often we are aligned in our thinking. But your latest comment seems odd. This isn’t going to be an overnight job but clearly I can see an emerging narrative with Nano that’s quite exciting. Cash in the bank and joint ventures in the pipe. In a few years this could be going places. If it’s just a matter of time I’m happy to wait.
I fell foul of this stock reading tea leaves on RNSs such as this, so I will avoid making the same mistake twice by speculating here.
What is nice to see, though, is at least some news and a sense of things moving after a very lengthy period of radio silence.
What’s your assessment of it steak? Likely or not?
I disagree that the episode has been pointless. Disruptive? Absolutely. But with such value destruction taking place on the current board’s watch, something needed to happen.
In many ways I’m grateful to Hamoodi for applying some pressure and for not letting sleeping dogs lie with what was a disappointing settlement and the rather dismissive tone of the messaging that followed. We are fortunate that someone who could make a racket actually did.
The board have shown plenty of vim and vigour and urgency when it comes to defending their generously salaried posts and getting shareholders to vote against the resolutions. Now I want to see the the same proactiveness and energy invested into better communications with shareholders, more evidence of what the board are actually doing to drive growth and pursue market opportunities, updating the website for crying out loud.
This whole debacle has been far from pointless if it focuses a few minds and gets this board earning their crust.
FH I posted my thoughts at the appropriate juncture in mid July. From then, the discussion has not really moved on at all. In fact, it has markedly deteriorated. Every day, there are accusations of Hamoodi/current board moles trying to sway opinion. It’s laughable and it doesn’t do anyone any favours. I don’t quite know how my ‘opinions’ have any bearing on my tolerance for mind numbing repetition, that’s a strange inference to make, but so be it.
I have no issues with ideas being kicked about as long as it progresses discussion in some way. Can the same be said here? I’d argue quite the opposite, it’s becoming toxic here and so even though I’ve not posted here in some time and have played no part in these ‘debates’ I felt it necessary to try and make certain posters here realise we can all do better, and if there’s nothing to be said to move the debate along, perhaps it’s best to just not say anything at all.
That’s it from me for now. I’ll be back when all this blows over.
The chat on here is just getting bizarre and every day seems a rinse and repeat of the same, tired, circular arguments. It’s boring and it insults people’s intelligence.
We’ve had the arguments for and against many times over can we please just let people make their own minds up from here on in? To continue to trot out the same arguments is just insulting to everyone’s intelligence, and tiresome.
It’s wishful thinking to suggest that the share will trade significantly above placing when it hits. The dilutive effect of raising that kind of capital at 1p a share is going to be pretty astounding to be honest when you think about shares in issue at IPO. Also worth noting if they saw news on the horizon that would come to their rescue they wouldn’t be looking to raise at just 1p.
You have to wonder why they are raising funds at such a heavy discount. I feel for LTHs as this is a good old fashioned shafting and a real sentiment basher.
Longer term this does have legs but a horrible precedent is being set raising at 1p and all the pumping in the world won’t change those facts.
Thanks for the update HH
So how does retail get involved in the main raise should it be approved by existing shareholders?
Is it through turner pope/crest or something else? The RNS is not exactly clear…
Ddubya, if he decided to give himself an easy ride at the QandA and sidesteps the big questions around the whole Loam correspondence, he may well end uk paying a high price for that…I really hope he doesn’t continue to insult the intelligence of retail with tired platitudes because we deserve better than that and he knows it.
For me the deal breaker is Pickett. If he goes we are toast, and this is what the board are saying if the motions are voted for.
I’m deeply unhappy with the settlement. Most are. I’m unhappier still with tenner’s inability to address the elephant in the room and comment on it, let’s hope he does so in the presentation.
But right now Nanoco needs Pickett. So I’ll be voting against.
NGR I don’t think people are disagreeing with that aspect of it at all. If everything was played with a straight bat and the settlement was in line with guidance, there was no dodgy loan on exorbitant terms, there was no vague RNS then another RNS, then I think there is no way we would be trading below cash.
The question is, if certain parties were playing with a loaded deck from the outset. That is a totally separate matter to the notion of financial stability for the company going forward. And so far it hasn’t even been close to getting answered or addressed by our frankly arrogant CEO.
I think people are trying to make the point that it’s all the underhandedness and unexplained areas that have destroyed the SP, not necessarily the settlement itself.
This company will be cash stripped, asset stripped, devalued and taken private on the cheap. That's the objective here.
Precisely. So you would’ve thought the current board would be doing a bit more than a few trite statements about how they’ve done nothing wrong if this is what’s at stake, I presume?
Voting them out would be like a turkey voting for Christmas.
But the arrogance of Tenner and the board just sitting on their hands makes it tempting…
If the powers that be have any desire to win shareholder confidence, to show that the future of this company and of shareholder interests is really their priority then they really should be bringing in an immediate and radical salary restructure until the company is turning a profit. That or buying some shares. If we really are all in this together, but some damn skin in the game!! And if the company is headed where you say it is, this would be an easy, temporary knock to your wallet after all.
It just seems like they are doing very little, other than insulting our intelligence over the settlement, tk actually engage with shareholders and win their trust/backing.
Fair enough maxi. Don’t disagree with you there.
My point was the idea that it would impact on the SP. I think the market is telling you everything you need to know in terms of how guidance and the current board are valued by mr market.
Maxi I would have to disagree with you there.
We are operating below cash value so it doesn’t hold that changing expectations would shift the SP. The market is currently attributing a big fat 0 to the operational elements and whatever it is the company is guiding. If there was some value above cash in the SP then your point would hold water.
That is a sizeable redistribution.
What shareholders will want to see though is some news that will underpin the share price when the divi does happen. They must be confident of that to make this announcement…
There’s clearly a bit of an impasse here between two camps, and I don’t really understand why people need to be ‘pro’ or ‘anti’ the board on this one when the picture seems more nuanced.
The fact is, Hamoodi has alleged insider dealing. So, in essence, fraud. No matter how much the board apparently ‘welcomes scrutiny’ this will need to be accounted for, and a satisfactory answer provided. But to me, right now, the loan that was taken on very favourable terms to the lender does not stack up. If there has been fraud, the board must go.
Having said that, I don’t necessarily support the notion of sacking the board until the above is actually proven. To do so I would feel very much like a turkey voting for Christmas. If commercial orders are indeed on the horizon, I wouldn’t want to risk the company being destabilised like that at this important juncture.
But whichever way you cut it, the truth is hard to come by right now, and it’s weighing very heavily on the whole situation. Tenner mischaracterised the settlement on multiple occasions and for that I am angry at his conduct. Posters who claim that this was the sort of settlement that we were getting all along grossly misrepresent how things actually unfolded at that time. I’m beginning to wonder if history is repeating itself with this fabled commercial order. I’m holding because the cash makes Nanoco robust, but my belief in the board hangs by a thread at the minute.