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@Nanogeddon: For what it is worth - I do agree 100% on all your points.
Like you the thing that most adequately reflects what the broader market (outside of this share forum) about Nanoco is the share price and it should give people food for thought that despite the very positive soundbites that Brian Tenner and Richards are putting out there no one seems to be buying - not even LOAM.
So the jury is out there (and I agree with NGR) and we might be pleasantly surprised but a lot of trust from private investors has gone down the drain after the Samsung debacle and the lack of explanation and transparency around it - and let us disregard the (desperate) attempt at positive spin from the CEO and the Board - clued up person can see right through it.
@qdnano: You truly are a joke. On 6th January we only had the first RNS out, ie the one where Nanoco said that a settlement had been achieved but that the practical details need to be worked out.
Now based on all the hot air and in the end not honoured promises by Brian Tenner we were led to believe that he would only agree to a multiples of the current value (this was said at a time when the share price was much higher than it is now).
I and other believed in Brian Tenner - does believing in the words of a CEO make you a bad investor???
Oh and one thing: I reiterate: I have been inesting for 6 years and am happy to admit to mistakes - no problem with that. However to find out that a CEO has wilfully and intentionally misled and betrayed investors was a first. Thank you Brian Tenner for this - I and others will not forget and will not forgive.
@qdnano: We are dealing with a board that seems a) either rather full of itself or b) that had decided we try to brazen it out and try the best we can ignore those pesky retail investors - after all these muggs are only here to pay our salaries and to be fleeced.
Sorry this board of directors and the CEO just don't have my trust any longer - and neither that of others.
Oh an what kind of exciting inflection point is there when the share price is well below the share placing of 37p and before the "great" Samsung settlement.
The RNS is a joke.
Richards has some real cheek to say that the requisitionists damaged Nanoco's value. What damaged Nanoco's value was the laughable amount of the settlement sum - THAT led to the value destruction in the first place - especially after Brian Tenner through his rhetoric had fanned investor expectations.
This board of directors is not to be trusted - regardless how the vote ended.
@NGR: I respect your stance even though I don't share it. I have been investing for over 6 years now and have never seen such a gap between rhetoric/statements/assurances from a CEO and what happened in the end.
Investing comes with risk and I can accept it but I expect that a CEO is thoughtful and honest in his communication - if not he/she will lose the trust of his/her investors...and sometimes that for good.
I have sold a good portion of my shares at a loss but continue to hold some shares. Losses (especially paper losses) I can bear but communication needs to be of a high standard and from BT as a trained lawyer I had expected a lot more.
I am now sceptical about Nanoco - not because of it sscience or products (I mean Samsung obviouslyrate us highly...shall I say more...) - but because I am extremely wary of its CEO and board and just don't know whether one can still believe them...and trust (not betting for unrealisitic outcomes) is essential when investing.
@NGR: "So Brian Tenner did nothing wrong..." - are you serious?
One needs to be wilfully blind or have an extremely bad memory to forget that Brian Tenner stated that he will never agree to a settlement that does not compensate Nanoco for past and future lost sales. He also said in a video presentation (I would urge you to watch it again!) that this would lead to a multiples in value.
When he said this (ie at the time of the video presentation) the share price was much higher.
So please tell me again that Brian Tenner's communication was not wrong, that it was not misleading and that in the end he didn't betray the trust that investors had in his words.
I am genuinely baffled that there are still some people who seem to give some credence to Brian Tenner.
Wake up fellow retail investors. Brian Tenner is a CEO who has systematically and wilfully deceived private investors. He has zero credibility left after it turned out that all his words and assurances are hot air with no substance.
This man and board should be subject of an FCA investigation and maybe should take place in one of the facilities of His Majesty the King. This is where he belongs.
@Musings: We as private investors are only at a disadvantage if the management of a company acts improperly.
Shall I spell it out even clearer what happened?
@troublesome: I have become too disillusioned with Nanoco to follow much of the debate here. One thing that I know is that Tenner has systematically misled and deceived private investors- no debate and no opinions on this board changes this simple fact.
If he had an ounce of integrity he would have resigned - he didn’t so time to try to push him out.
Oh and I am not a follower of Tariq and really don’t know whether he would be better for Nanoco or not. But again this does not change that Tenner has no credibility left and needs to go.
I voted to get deceitful and untrustworthy Tenner out alongside Richards.
I think that blatantly dishonest behaviour needs to be called out and sanctioned.
Whoever believes what Brian Tenner and the NoD is saying still believes in the tooth fairy.
I note that given that the share price drops despite a customary upbeat RNS tells me that retail investors just don’t believe what Tenner is telling them. And why should they? Tenner has misled them and Tenner has betrayed them.
Frankly the whole debate here is ridiculous. Either one believes in the science or one does not. If good news drops this could fly- right now we are in a period with no news so some people sell… happens all the time.
To those who moan here about bad communication well attend an AGM and make your position clearly known to LD. If she does not listen than sell up.
Look everyone: If you don’t want to suffer disappointment don’t believe anything Brian Tenner has to say. It is beyond any doubt that he has misled investors and betrayed their trust in him!
The only thing one can trust from Nanoco are clearly worded RNS with clear commercial intent - all the other stuff is fluff you cannot built a shed on.
@Nanonano: Correct and this is why the shameful settlement which really was a betrayal of Nanoco shareholders by Nanoco management basically destroyed the share price of Nanoco.
Nanoco after all the legal efforts and all the messaging to its investors basically signed away a large part of its future for two slices of bread.
Thank you Brian Tenner!
@wicky: The future of Nanoco is adequately reflected in the share price since the major inflection point from the settlement.
No multiples of current value stuck in my mind.
Anyway I can only advise any potential Nanoco investor to completely disregard what Tenner is saying as there will be a big gulf be his words and reality.
For me one thing stuck in my mind and that is Brian Tenner declaring that he would only agree a settlement that fully compensated Nanoco for past lost sales, future sales and global nature of sales and that this would mean a multiple of current value (at the time he was speaking).
Clearly the joke of a settlement he agreed to was a complete capitulation and we shareholders have still not received a clear transparent explanation from Brian Tenner.
I still think the FCA should launch an investigation.
Yes waiting and waiting and waiting.
Let’s hope that the cake is a proper one as the cherry on top that was promised by Tenner turned out to be wrinkled and tiny….
Samsung will not cooperate with Nanoco in the future. They took what they wanted and BT caved in. Why should Samsung play nicely next time? Why??? The lesson they learned was that they can rip Nanoco off and that in the end Nanoco will bend over.
And as a shareholder I feel absolutely shafted because I believed in a CEO who has turned out to be utterly untrustworthy.
I have to smile at the naivety of NGR. Yes there is always risk in litigation but the fact that 10 litigation funder were willing to fund us speaks about the odds of Nanoco if this had come to court.
Again I expect that the litigation funder would have done extensive extensive due diligence on Nanoco’s case and I expect a law firm of the quality of Mintz to have looked in every aspect of the case to have a watertight case.
BT sounded supremely confident ahead of a trial.
So again he either folded and I ask why and still have no answers for that or he only thought about his own fat salary.
The fact remains that he accepted a miserly payment for the heart of Nanoco and effectively signed away the display business. Samsung will continue to be the supplier of choice. With regard to other litigation forget it - why would anyone pay they have seen what Samsung got away with…
I don’t see a future for Nanoco with BT - the trust has gone and one must be stuck in the realm of wishful thinking to think that in the short term this will come good…and if by December there is no commercialisation than this will be another case of great British science spoilt by bad British management.