Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
2017 - InVisage sale - An Apple spokesperson has confirmed the acquisition to us with its customary statement: (twitter)
https://mobile.twitter.com/panzer/status/928653674699669510?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fd-41909210294136776597.ampproject.net%2F2001281851410%2Fframe.html
Today completes an actual, full working month period for the due diligence. One month is the average timespan for such matters. Sometimes two months, apparently, but this rare. Possible in this case, perhaps.
Isnāt Plessey a small company - less than 200 staff and more or less on breakeven as they progress?
Was wondering if Dowās strong connection with Samsung (and Nanoco) would not make sense for Dow proposal. Looking at indicative offers - likely that set up not as price offer but as format for establishing pricing going through due diligence research. Enough. Should have bought Tesla.
DuPont, Merck and Dow are all in the billions so have the money. They are already actively involved in, and using, Nanoco materials and all seem to see them as a significant part of their ongoing sales products. They do not seem to be particularly competitive in their different uses of OLED structures, so ...? Logically, they may all be opportunistic or concerned re proposals.
We know that the decision to make a sale offer was based on agreed commitment to shareholdersā best interests - presumably those doing most of the funding over the years. Sale motivation might make sense if an suggested offer had already been put to Nanoco, pre-sale, and the main funders saw some value in this - rather than sale just about having doubts for the future. Apart from that, listening to Blackberry CEO it seems in the tech world lots of firms are working together - connecting here and there - and not just always competing. Speculation, of course.
I gather that ādue diligenceā takes 30 to 60 days - typically if competent around 30days. I see some progress already - āfurther due diligenceā. Some Xmas delay...
āThe Board .. is now inviting certain of those parties to engage in further due diligence and detailed discussions about the sale of the Companyā
M&A - may have a significant part to play in this ... Seem quite successful ...
In advising companies on an acquisition, merger, or sale, we evaluate potential targets, provide valuation analyses, and evaluate and propose financial and strategic alternatives. We provide boards and management teams with independent judgment and deep expertise as they navigate their most important transactions and strategic decisions. We also advise as to the timing, structure, financing, and pricing of a proposed transaction as well as assist in negotiating and closing the deal.
Only prospects I see are they get a US partner and we hear of Tristel plc. Long year ahead apart from that. But a US partner would be a very large growth prospect - sometime.
Anyway - thats pretty well it for this year, I guess.
Major issue? Just some merger glitch? Some new deal? First, seems should be said before now. Second, quite likely - or new CFO needed time. Three, well probably way over optimistic. Hold, buy, sell - no idea:)
Morning - I have observed that the board do have a wish to improving shareholderās stock value. So, apart from some greater depth given of the companies financial position, and what it may now achieve on the market, it may be the case that they are busy, in delay, settling something or other to give some uplift. Nic H, given his high level experience in business, can only have taken this on if there was something meaningful ahead. As, similarly, the marketing director and chairman. But this year may just be restructuring a modest company, finally breaking-even - and some hope of US trials. Iād like to think, in their long silence, that the synergy found is a bit of a surprise or 4 to 1 product got a customer. Monday it is.
Medimark takeover on Friday (30th Aug). Might give a sense of a larger company. But guess some sorting out following final completion date.
Hi - Iām never right on shares - so unpredictable! But I have some moderate optimism that the delay on final report may be due to certain significant events about to occur, eg new trials or new partners. Been so in the past. Of course, financials now more complicated with the takeover deal - so maybe just new, part-time CFO having to learn all about it.
OK, forget all - finally got real info. Which contract is which. ME and BT should be locked up for their RNS. Looks like empty manufacturing plant to me now. Not mentioned - loss of 90 percent of their business on an email.
BTW the 2nd generation materialās contract was for āway out in the futureā - ME statement. Speculative - may find a use one day. The current, ongoing, 1st generation materials, an already active existing product, with some enhancement, are for now. FYH1.
Is there evidence of the total loss of the US nano contracts? RNS did not throw out Runcorn factory contract. The extended second contract was for one year from Jan19. The contract has been completed, financially and technically. Decided not to proceed further - so what. Frankly the second R&D contract was just there paying the bills till the Runcorn manufacturing begins this calendar year. US Inc could not make that level of investment, and as a customer, with a loss making company!! Finically or morally. The upcoming volume needs to generate - obviously. The Runcorn product is an existing product, enhanced a bit. Already out there in the nano world. But, hey ....
Got me worried now ... OK Jan 2019 not to continue but the Feb 2018 contract stopped?? No RNS!
āannounces that it has signed a Material Development and Supply Agreement with a large, undisclosed US listed corporation (the "Partner").
Under this agreement, Nanoco will scale-up and mass produce novel nano-particles for advanced electronic devices and supply them from its state-of-the-art production facility in Runcorn, UK. In preparation for the quantity of materials needed for these marketsā
Mid August - trade update; Mid September - Investor day; Mid October - Preliminary Results; Mid November - Full Results; Mid December - AGM.
āH1 2019 calendar year will be utilised to stress test and improve the new Runcorn facilityā - Trade update?? Still pressing on as far as we know!
āvolume production is expected to commence in the second half of calendar 2019ā To be confirmed in coming months of updates?
[Minimum manufacturing volume selected by US Inc is sufficient for breakeven (BT Interview)] Any other contracts lead to profit in short/medium term?
Back to some normality?
If Gen 1 not still in operation then Mr Tenner must be in real trouble from a regulatory point of view. RNS was way understated for such an outcome.
If Gen 1 is still ongoing the company has got all the short term prospects needed. With more to come.
Anyone been talking with FCO?
Tenner described, in Directors Interview, the two contracts with the US customer as Generation 1 and Generation 2. The latter from January 2019. Gen. 2 has been completed but not to go under production - tested it but not what chosen in the end. Tenner later explained in a further interview that ā even if we just got the minimum order quantity from the electronics side of things (Runcorn US plant; Gen1 contract) that would take the business close to a breakeven position ...ā So is that still the case or not? If so whats the problem? Success? Gen2 was always a maybe!
No (yet mote) misunderstanding by moi j'espere - Tenner did not need to go to extremes because it is all just about a change in a speculative research project, still fully paid and now up for other customers. Prospects overall remain high. Edison getting it all a bit more normal.
Edison
Nanoco Group (NANO); US customer not to extend contract
Nanoco Group (NANO); US customer not to extend contract
Published on 21-06-2019 07:33:20
Author Sparks Team
Nanoco Group announced that its US customer has decided not to continue the project beyond the current contract. It noted that the decision was not due to performance of its materials and service delivery. It is exploring potential uses of the technology with a range of customers, including the US customer.
The company announced a major contract extension to its initial agreement with the US customer in January 2019. The extension covered a range of stress testing and commissioning services of the Runcorn facility in the twelve month period to December 2019. The company noted that this decision will not affect the present contract, which runs till the end of December 2019. As previously announced, it plans to deliver a cash breakeven position for the twelve months ending December 2019. It expects to have cash balance of around Ā£6.0m at that time.
At this time, the revenues and associated cash flows under the contract for the next financial year ending 31 July 2020 amount to around Ā£4.0m. The majority of this is included in the forecast cash position at 31 December.
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