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He could have just said "we'll only settle for a fair amount" before the settlement and left out the bits about 'multiples of market caps' etc. Then he wouldn't be signalling that we are going to fold for a pittance to Samsung, but also doesn't mislead investors. I doubt Samsung paid us any more in the settlement just because BT used some tough language in the months prior.
BT said he was very much in favour of keeping Nanocos production capabilities in a recent ish investor call. So I can't see us ditching it now. That was one of the reasons the company moved fully to runcorn recently.
https://www.edisongroup.com/research/litigation-settlement-concluded/31947/
Henry, holding on for your average price before you sell is anchoring bias. If you don't believe in the company anymore and don't trust the board/believe it is fraudulent, I would sell out now, rather than waiting for an arbitrary price.
Missed this quote yesterday innthe RNS. Seems to confirm a possible dividend, but having to wait until next year.
"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."
The next investor meets Q&A will be interesting. Although I'm sure most of the tricky questions will be filtered out or altered to be easier to answer.
On the plus side, my portfolio isn't actually down much today. Other shares/funds doing the heavy lifting. And I'm still 10% up on Nano. Could be worse.
Any way to find which patents we've sold? Surely that should be public information. Patents are in the public domain after all.
This quote from the chairman says special divi to me. Although I guess we'll have to wait until 2024 for that... "The Board will balance any investment needs of Nanoco's growing organic business with a firm intention to deliver a material return of capital to shareholders"
In the notice of deficiency regarding the motion to stay, the judge stated "Correction should be made by one business day".
So I presume he would have used similar terminology (e.g. 30 business days) if he had meant working days for the deadline to submit dismissal papers to the court.
Scanhorst,
"There is no way they’re going to repeat last year’s LFT revenue." - Utter supposition. No more needs to be said.
"Covid worse in winter than summer and it was rife in December." - Incorrect. Both going by the official government numbers (not too reliable now as you don't need to report results to the NHS, but still): 27k weekly average in July 2022, versus 6.5k weekly average in December. And also going by the zoe study (more reliable): https://health-study.joinzoe.com/data#interactive-map which clearly shows a big peak in July, hence more tests sold then.
It makes complete sense that the sales will be more when there are covid peaks, and that we'll likely continue to have such peaks in future.