Member Info for BoracicLint

I do wonder if a lot of potential RI's have forgotten about this share. It's been quite a long time since the failure of SOA1 and AMGO doesn't seem to appear in share listings. With Covid/inflation/war in the news at various times, it seems AMGO has dropped off some radars, so maybe there won't be any FOMO. Only once the court (hopefully) approves SOA2 will it get the news attention and then perhaps upward SP movement.

I'm frustrated by the current situation but hopeful next week will see the revival of interest in what is fundamentally a good business and one that provides a sort of social service: compare AMGOs interest with others in the sector.

I should also mention that I said that would be the absolute max we might expect but actually Edison's figures are thought to be conservative. Also, I converted $ to £ at the rate then so hat's likely to differ as well

Scamp, see my post from 21/03. These were figures based on Edison's estimates of possible settlement amounts and might give you an idea of the possible range.
I suppose any positive announcements on the commercial front might give an extra push to the SP.

It is odd that if you clicked on the 'more risers' button, Nanoco showed as second or third yesterday, but not on the front page where it shows the top 5. It wasn't on HL or even London Stock Exchange, either. Interestingly, I skimmed through the HL site and couldn't see NANO in The FTSE 250/350/All Share or Small Cap listings. I thought NANO moved from AIM to the main market years ago.

This lack of visibility might help for those thinking of a top-up before awareness is raised in the wider RI and pushes the price up further. I may have a small top-up myself, as the chances of a successful appeal to the PTAB and Samsung winning the court case seem small, not to say pitiful.

Wow! Fantastic news. A major step forward in the success of Nanoco's case. Let's hope for a big jump in the SP tomorrow and congrats to all holders.
Here is a copy and paste from the end of the document for 186:

III. CONCLUSION
For the above reasons, Petitioner does not demonstrate by a
preponderance of the evidence that any challenged claim is unpatentable
based on any challenge stated in the Petition.

It is
ORDERED that claims 1–23 of the ’365 patent have not been proven
unpatentable on this record; and
FURTHER ORDERED that, because this is a Final Written Decision,
parties to the proceeding seeking judicial review of this decision must
comply with the notice and service requirements of 37 C.F.R. § 90.2.

jimbo, I'm surprised, too. This is the first successful hurdle out of 3, the remaining ones being the court hearing and finally shareholders agreeing to the RI.

I must admit when the RNS wasn't out spot on 7am my mind was running through the chance that only the wind down scheme had been approved, it had taken Amigo unawares and they were deciding how to put the news out! Now I can calm down - phew!

As beastly alluded to, the increase in vote numbers should give the judge more confidence in allowing the NBS to be the first choice and approve it. Also, the FCA has said it won't attend the court, suggesting it won't stick its oar in again.
Bearing this in mind, I was expecting investors to have more confidence, whether day traders or those with a longer view.

I suppose the elephant in the room is the pricing of the RI and although that is likely to be months away, it may be causing share buyers reluctance to get in.

Today is a good day and should cheer up us long-suffering existing holders.

Thanks Acker. In case anyone can't access the link, here is what it says:
"Voting on our Schemes of Arrangement proposals is now closed. Thank you to everyone who had their say by voting. You cannot make or change your vote, unless:
you have appointed a proxy to vote on your behalf (in which case they must vote during the creditors meetings; or
You notified us that you would attend and vote at the creditors meeting.
On 12th May, we will be holding the creditors’ meetings. During these meetings, creditor votes will be recorded. If you have appointed a proxy to vote for you, they will need to log in and vote during the meetings. The outcome of the meetings will show if creditors have approved one or both of the Schemes.
The High Court Sanction hearing will take place on 23 May. At the hearing we will be asking the Court to sanction one of the Schemes.
We will be providing updates and notices as soon as we are able to on the outcome of the Creditors meetings and the Sanction hearing."

gingerT, as you predicted the SP action yesterday, please predict 20p today!!

Fingers and toes crossed. GLA.

Suffer, I don't blame you. Many times in the past year I regret not selling when it was 30p and then I wouldn't have been through the wringer numerous times.

Still, here we are, the 'lucky' shareholders. No mention of golden tickets these days but I am hopeful the creditors vote will be in favour of the NBS and that the SP will rise well over 10p if the court approves - and there don't seem to be new reasons why the court would reject it.

Will there be a specific RNS announcing the vote results, or should be visit the Amigo site?

What an awful offer; what an even worse roll-over by the BoD. What's their motto 'aim low, reach your goals, avoid disappointment'?

If all $10m is a special divi within a year, divided by 1393m shares, that's $0.00718 per share.

Then after 4 years a further $50m, of which 'portions' 'may' be given as a divi, that would be $0.03589 per share if all distributed.

However, nothing is stated as definite commitments to shareholders.

Then $3m a year to the company starting 2027.

$20m retained as cash - what about the rest?

Company converted to a cash shell for which a Reverse Takeover is required within 6 months. Bearing in mind the utter shambles for years, why does the BoD believe we will have any faith in them finding a worthwhile asset at a good price and then wait years for it to develop to fruition? Look what they've done with this one - nothing.

Please check my points above, I'm sure I have some mistakes. My sympathy to LTHs especially.

I'm sure there is an element of bitter ones who will vote for wind down but hope they will be a minority.

However, now with the economy in a pretty poor state with inflation, supply chain problems, Brexit hangover, plus war all in the background I would expect even some of the bitter ones not to cut their noses off to spite their faces! Practically everyone who is not rich is facing a short-term reduction in living standards - for the poorer it is bound to hoit them disproportionately.

My feeling (hardly scientific) is that creditors will vote for SOA2 and not wind down and that followed by court approval will take the SP beyond 10p but where beyond I really have no idea. With the RI being inevitable, I can't see it going up to 30p much as I would love it to.

Paris, I've been waiting for jam tomorrow since 2009!

It's disappointing once again that news generates no major SP movement. On the contrary, in the last 3 months, we have declined from about 3.5p to 2.5p (though some of this is no doubt due to external factors like inflation and war).

The assays look promising but contain no major headlines - does this mean we will have to wait for the remaining assays and then an updated JORC to make LEX a bit more loved? Or fund-raising and another round of drilling to conclusively prove a big enough extractable bunch of deposits to get some major interest.

My average price is 9.8p but with the highest of 16.8p paid, I'm currently 40% under water, having first bought in in Oct 2020.
Expectations now severely tempered by the history of the past year or more but am hopeful of a moderate profit even if I have to put more money in for the RI.
I really hope the so called shareholder group is not going to do anything stupid and undo all the work of the BoD of the past 12 months.

I might have misunderstood, but thought that if the wind-down scheme is chosen, shareholders will be wiped out completely.

This is from an earlier RNS: "If the New Business Scheme is not sanctioned (or if the Company's shareholders do not vote to approve the equity raise contemplated) Amigo Loans Ltd will enter a wind down Scheme or insolvency. In such a scenario, Redress Creditors will receive less than under the New Business Scheme, and the Company's shareholders would receive nothing in respect of Amigo Loans Ltd."

If the NBS is chosen, then we have to vote for the equity raise. Then, if the vote for that is a yes, we either stump up more money to avoid dilution, or accept up to 95% dilution.

If the Vanir/new company route was chosen, wouldn't existing shareholders also be wiped out?

In a way, I tend to think of the factory as a side issue. Whatever happens with NANO, win or lose Samsung remains an electronics giant with its own momentum. They must have a good business case for creating the factory and it seems unlikely they would cancel it or change whatever their global strategy is if they lose our court case.

It stretches my imagination too far to think it's a massive bribe, even knowing Samsung's corporate history, but I can be a bit naive sometimes!

It seems the risk here is all geo-political. Fundamentals of the company are fine.
It is still working and producing. I think only about half assets are in Russia and the company has announced it is considering the corporate structure to see if it is right to split Russian assets off.
Since June last year the SP has been on a mild decline from the high of about 1700p before the war caused it to crash from 1100-1200p to where we are now.
Even allowing for day trading volatility and MMs working hard, I do expect the SP to slowly return to around 800p or more over the next few months if there is peace.
Bearing in mind what happened at Evraz where the divi was cancelled at the last minute, I wouldn't be surprised if the same happens here. If it does then at least that value is retained in the company and not lost, even though it's not in our pockets.

I may be living in cloud cuckoo land here, but this is what the best possible outcome might look like for NANO. It assumes that there is no rights issue or other shareholder dilution.
Edison seem to work out possible damages of $200-250m for America only which they say is one third of global sales. If Samsung lose the court case or decide to go for pre-court settlement and want a worldwide settlement 600-750m seems reasonable. Then would this be x3 for wilful infringement IE a max $1.8bn to $2.25bn?
With 307m shares, this could equate to £1.36bn - £1.70bn/307m shares = £4.43 to £5.54 SP.
Edison also note NANO would only keep 50% to 80% of the award (presumably to pay off the lawyers and TPF?), which would leave an SP range of between £2.22 to £2.77 (50% retained) to £3.54 to £4.43 (80% retained).
Without wilful infringement the worldwide settlement figures would reduce the SP figures to £0.72 to £0.92 (50% retained) to £1.18 to £1.48 (80% retained).
These would be the potential absolute maximums we may achieve if we win the court case (and any successful defence of a Samsung appeal).
Do check my maths as I made a schoolboy error last time.
As a small holder even the max SP wouldn't be life changing for me, but would make life much more comfortable. I suspect for some of you it could be though.
GLA.

You ask what will replace official sub-prime lending - we all know and here is the latest from the Beeb on the problem:
https://www.bbc.co.uk/news/uk-60766810
This will only get worse with the current economic situation; at least lenders like Amigo are official, there is a route for resolution if mis-selling occurs, and the rates of interest charged are fair considering the risk.

If you're right, it will mean a one-off biggish drop next week. Also, I'm unsure how the delisting from the indices will affect our ability to trade, if at all.
Anyway, I am in this for a firm hold for now because the fundamentals are good for this company and the SP only reflects the geopolitical risk.
I can't see the war going on for much longer as the risks to both sides are too big. I hope and pray that negotiations continue and produce a temporary ceasefire as a bare minimum. The Ukrainians are suffering terribly. Even if you are one of the 'better off' who managed to get out of the country, you may not have anywhere to live and when there is peace what do you have to go back to? Do you have your loved ones, belongings, home, village or city still in existence, let alone trying to make a living again?

I know how you feel, having gone through some of the dips myself. I've been in and out of this share since 2016 and now use the 50 day SMA as a signal when to get in or out.
From the SP today, looks as if some are buying in anticipation of good results on 22/03 and the SP in general may be on the turn.; if it drops back later today or Monday, I will probably buy.
Overall, this has been a great share for LTHs and it pays a divi too.

Just made my final purchase of a massive 419 shares at 133.5p, taking my average to about 140p. I don't mind if this becomes difficult to trade for the next year or even longer, as I think once a 'normal' trading environment re-emerges, the SP will rise to a min of double of roughly where we are now.

If some sort of peace deal can be agreed, my guess is the West will have to remove some sanctions both to show willingness and also acting from self-interest. That may help remove some of the stigma from Russia and possible reverse some of the ESG posturing that has been taking place.