Member Info for BoracicLint

I can't see a link for the webcast in the Feb RNS or in https://www.amigoplc.com/investors.

Does anyone know where to find it. Hopefully. I'll be able to listen and pass on anything useful. Anybody else hoping to go/listen in?

The RNS says 'intends' to pay a divi and then goes on to quote RY stating they 'will' pay it. Havin already lost half my investment even with today's bounce, excuse a little scepticism!

I don' think they could get away with backing out of this but I thought when a divi is paid, the SP has to reduce by the same amount? If that happens while the Ask is 1.665, does the SP go negative and they have to pay us for taking shares??? Only kidding of course but does anyone know?

Olly, maybe onion tears today. Hoping for tears of joy tomorrow??

Peregrine, we have IMO an extremely poor settlement and no commitment to shareholder return of a slice of that even in 2024.
On the positive side, SteakAndAle makes an interesting point about dual supply and the re-comm of Runcorn would suggest something is happening whether from Samsung or a commercial order.
Unfortunately, we have zero visibility of this, just like the low settlement model Nano suddenly announced which has never been communicated publicly.
So, as it has done for many years, NANO remains a jam tomorrow company but has managed to provide itself with future funding for several years.
For me, it was all about the litigation - and the outcome of that for PIs is complete failure. I cannot see the SP moving positively in the near future, nor can I trust the tone of likely future RNS. In the light of all this, I have sold my entire holing for a tiny profit.
I won't rule out investing here again, if commercial orders that have true visibility come to fruition and the SP is at a 'reasonable' level. However, I feel I have some emotional baggage (still angry and frustrated with the settlement) which makes me ultra-cautious here and mistrustful of the BoDs likely attitude to PIs.

Best of luck to those who are still holding.

This must have been an in-house damages model. I certainly don't recall anything like that being published.

I am utterly disappointed with this very poor settlement. It is potentially transformational for NANO considering how small it is, but at the same time, what a tremendous opportunity missed. Had they persisted in legal action my own belief is that the court case would have succeeded. Even with delays caused by appeals, if we compare that with this deal, the money is being paid in two tranches, the second in 2024 and so very delayed for such a small sum anyway.

My reason for investing was always the litigation, so my investment case has failed! From a business viewpoint, NANO has generally failed to deliver anything meaningful and although the landscape looks more positive for the technologies to be used in multiple products, it is still jam tomorrow. The spin on the litigation given mainly by BT and the extremely poor and misleading RNS comms of January also undermines everything the top management have to say. Although the activity in Runcorn suggests production soon, rolling over to Samsung (as I see it) has produced a settlement equivalent to cents per TV. Is the BoD even capable of making a commercial deal in this light?

The last para of the litigation RNS today says
"The Group expects to have net negative distributable reserves in a number of subsidiary companies and in the parent company itself after the impact of the transactions noted above. The Group will therefore review options for its future capital structure prior to the receipt of the second tranche of proceeds around February 2024 in order to facilitate a possible return of funds to shareholders."

In other words, there may be a special divi but not until 2024 - and no firm commitment even. We could wait until then and the BoD announce retention of funds for further investment.

I shall wait a little in the hope of an SP rise after today's crash and then sell.

Yes, it is odd. Can't see a reason: no new director buys or broker upgrades and no RNS for the past 3 days. The last one was about the CFO being poached, which is (a) now old news and (b) probably not good for the SP. Maybe there'll be an RNS after the close?

Mixed RNS. As usual - and they have to keep repeating this - if they can't raise enough, it's wind-down and ordinary shareholders will be wiped out.
They have to raise £15m as per the scheme and need the rest of the £45m to help build the business. IIs are prepared to take some of this, so far. I'm a bit confused about the reasoning here, though. If the IIs have, say, committed to 1/3 of what's needed, that covers the SOA requirement of £15m , leaving £30m needing to be raised from IIs and PIs?
Is the management saying that leaving the balance of the raise to the usual RI process is too risky without the II commitment beforehand and raises the spectre of not being able to be a going concern?
Also, didn't they say they have debt facilities arranged that could be drawn on? Could that be a fallback if the £45m total raise can't be achieved? It would meet the SOA needs of £15m and SH 19:1 dilution.

My average is just over 10p, so huge loss at the mo. Must confess my glass is half-empty, though it will be full of red wine in the evening.

OK, so they have to raise 45m by 26/05, otherwise the wind down option becomes the only one. That 45m has to be raised from an II, or from current shareholders as the RI. Currently, they can't get one II to take all 45m so are trying to find several who will.
If not, does that mean the whole 45m will have to be raised via the RI?
RI are normally issued at a discount to the current SP to encourage us to invest more, but how will they manage to raise that much at such a low SP. I would think that if they can't get several IIs to take at least the bulk of the 45m, there will be another big SP drop, making it harder still to raise the balance needed.
My big worry is that this chain of events will result in wind down and us PIs being wiped out.
Have to confess I am thinking of selling now - will be a huge loss but better than losing it all.

Appreciate I might be missing some crucial points here?

RJT, don't forget that N now has pending action in Germany and China as well. If N wins the Texas court case, I expect they will immediately begin proceedings in Germany with a view to getting an injunction ASAP (though it will still take best part of a year). This does put extra pressure on S - they will have to balance the delay in paying through appealing, against the chance they will be unable to sell any TVs in Germany quite soon.

Looks as is the SP peaked at about 818p in May 2021, a little behind the rest of the market, which peaked roughly Nov/Dec that year.
Why would the BoD consider selling when the SP is well below half that level? Smacks of desperation or suggests there are money problems lurking after buying Amoeba.
Stateside The Trade Desk has also had a pretty poor ride, though not as bad as here. If TRMR can ride out the recession, why not wait until the macro=economic picture is brigher?

Mortimer, I'm in the same boat. When we are offered the RI, you can choose not to take any (in which case you suffer 95% dilution), or you can take them all, in which case you need the cash. There is also a third option, called tail-swallowing. What you can do is sell, say, half your rights on the open market and then use the cash raised from that to buy the remainder of your rights. That way, you don't have to stump up more than about half the full amount.
The problem is that you won't know what price you'll get for them on the open market so it may or may not pay for the remaining rights but it does give you the chance to avoid total dilution.
I'm no expert on this only having been through a couple of RI ages ago, so maybe other posters can help?

PS I vote for Skeggie!

Yep, count me in.
I assume we will need a large number of PI shareholders to get this off the ground, so please seriously consider this.

I admit my response is mainly an emotional one at the mo, as I'm sure it is for most posters here but it seems the BoD and parties to the 'rescue' have some serious questions to answer.

I reckon we won't be getting anything as shareholders so have written off all my investment here; I won't pretend it doesn't hurt - I put too much here. Very disappointed that management could make nothing of negotiations with Next, Foschini or TJ before bringing in the administrators, along with misleading language in the RNSs. Something smells very bad here.

The only positive is that the brand will survive if this deal goes ahead and looks as if the majority of stores and - most importantly - jobs will stay.

Been watching Strix for some time. It seems unjustifiably bashed about in terms of SP and today's drop really looks overdone. Have made a small investment at just under 84p as the business looks good overall. I agree with unhooked that I will probably be looking post-recession for this to recover well but I'm happy with that.
GLA.

Looks as if the drop was because Numis has downgraded to 'hold' from 'add'. Reckon I will top up if this drops more as the growth drivers for the company still look positive.

Another good RNS for Interim Results showing growth in revenue, profit and interim divi. The SP hasn't responded that well today but am hoping this is a slow burner that will grow slowly and under the covers. Wish I had topped up when it was below £7 in October.

And they must have enough cash to pay for the RI as well. In some ways it seems a strange time to make a big buy. Knowing the SP action here, I wouldn't expect a spike even on a good RNS.

Thanks for the link. A very interesting if slightly depressing article that sounds familiar to all LTH here. The system does mitigate against minnows it seems, especially when big companies with cash aplenty can simply use time and the PTAB and legal system to maximise their profit from infringing, while hoping the minnow goes bust. The abuse of PTAB in this case is really shocking.

What is needed is an enormous fine along with immediate and far-reaching injunctions to ensure quick payment. I believe NANO is first in line to benefit ;)

Maybe it's been a case of buy the rumour, sell the news and that's why a slight decline in the SP today. I'm not surprised, especially with the odd historical moves in the share.
Hoping WHI can successfully bring this to a wider audience soon and then the SP will start moving up to where it deserves to be - at least 7p!

Forgot to say:
no RNS or media items I can find; interim results aren't due till the end of Nov and no apparent closing of shorts, so still can't understand such a big move today.