Member Info for Maxi19

Anyone think they might be trying to sell off the IP and operations separately?

It would explain why they are still in discussions with multiple parties, rather than just one as you might expect.

It would also make complete sense as the IP would be valued more highly by an OEM like Samsung, LG, whereas the operations would be valued more highly by an actual QD manufacturers. The claim by BT that Nanoco could leverage its IP to gain commercial traction has borne zero fruit so far.

Final thought - the company says they "look forward" to updating shareholders on the CDX process in due course.

I know that's a stock phrase and you can't read too much into it, but arguably if the position was pessimistic would they have written that? Might be grasping at straws.

The CDX update is vague. No mention of how progressed the process is. I guess the fact that it is still ongoing in itself and involves multiple parties is a positive. Also, they've previously guided they expect to receive bids over the summer and sign the SPA in q3 so if that expectation no longer was true would they be expected to update the market?

I suspect Nigel's resignation is linked to the CDX process. The potential buyers probably don't want him going forward and because he's been at the company a long time it would be a big restructuring cost and unsettling to remove him day 1. So he's decided to resign seeing as it's probably in his best interests given his equity stake.

Isn't it quite likely that the timing of the LG litigation was about trying to make them buy the company? Which was why the RNS talked about reaching a commercial agreement?

It’s hard to know where we are in the CDX process. Dimitry said in April/May that they were gathering IOIs (indications of interest) and that the in-depth engagement with finalisrs would begin in the second half of Q2. That could have been from 16 May to 30 June.

When the finalists were chosen they were very likely given a timetable of the finalist stage with details of site visit dates and DD calls with the management team etc. There would also be a deadline for submission of the Letter of Intent or final bids, about 5-8 weeks in all likelihood after that phase began.

The point I'm making is that we could be past that deadline for final bids, or coming close to it. If the company hasn't received any bids it would surely have to update the marker. If it has it could keep them confidential (which I agree with them doing). If the finalist engagement began 16 May the bid deadline would have probably been early July. If it was end of June it would probably be mid-August.

Patience required.

Kooba plenty of deals occur without any insider trading or at least big share price movements.

I've worked in environments with frequent MNPI and people honestly stick very closely to the rules because if you don't it's your career ended and possible jail time.

Why do people assume there will be insider trading? It happens relatively often of course but doing it on a share that has only 50 trades a day would be incredibly reckless, regardless of the morality.

I think they said the finalists would be chosen in the second half of q2 and site visits occuring after that point. If that starting date was 1 June the site visits will have concluded by now.

Yes ddubya you would think the radio silence means the timetable is still being followed as otherwise they would have to inform the market.

But trust in the company is so low following Brian Tenner's behaviour that it's better to expect the worst imho.

If they are negotiating the SPA I don't think they should issue any kind of trading update. Just focus on getting the deal over the line as people will pore over every word to try and get an idea of the CDX process and the valuation that it will be impossible to draft it properly.

In any case, if the business is about to be sold the trading status won't be relevant going forward.

It's an interesting question because the company hasn't released any news for nearly 3 months now and going by their timetable they should be negotiating the SPA, which can take 1 week to 4 months + depending on various factors.

Does the silence indicate good news? I guess it means there hasn't been bad news like the end of the process because there's no buyer. But there's not much to be taken from it. Clearly the board have decided not to give a running commentary of the process, which although frustrating I do think is for the best (I know you disagree Kooba).

As for value, who knows. Since they had a valuation provided of £47m I don't think they can sell it off for peanuts given the cash position is fine. But figures of £70m could be stretching it. I hope I'm pleasantly surprised because it would be the first good news today I've had in this share.

What's the tax payable on the sale? Since they're doing an asset sale will it not be about £2.5m I e. 25% of £11m?

If it was based on inside information leaking they would have had to release an RNS - pretty sure that's mandatory when you have such a big share price movement.

So must be ramping on X.

If the company are on the verge of signing a sale agreement I think they would have halted trading at about 2:30 because it would have been obvious serious insider trading was happening.

Could be wrong and they just didn't do that.

Looking again I think the most likely explanation is this French guy on X has pumped the market because the timing and content of the posts seems too much of a coincidence. One of the replies said, 'well done, you've discovered you can manipulate the market through your subscribers'.

Who knows. And anyway the guy may be sincere and won't dump it so there may not be a reroute.

And maybe it's a pure coincidence and we'll see an RNS tomorrow. But it's one thing for a stock to go up 5% before good news, it's another for it to do 25%. The FCA would be all over it if there is an RNS and anyone who did trade would be heavily scrutinized.

It's interesting that at more or less the exact time that the rise started some French investor started posting on X about Nanoco as an investment proposition and got some decent engagement.

There's nothing crazy in it like saying get in now now now but it's not clear how much algorithmic trading picks up on those type of social media posts and place trades on them.

Nanoco is barely talked about on X so the timing is a bit strange. That said, it wouldn't surprise me to see an RNS tomorrow.

Not sure that's true, they don't have to disclose any uncertain information like an indication of interest.

Personally I think the board should ignore posters here and keep quiet until a deal is signed. There's nothing to be gained except potentially spooking bidders.

The idea that gen 1 is dead doesn't make sense

ST go to the trouble of designing a revolutionary new sensor, and rather than market it and hope someone will put in a big order they just completely scrap it?

In the Epic presentation Jonathan Steckel said we could expect to see more and more products using SWIR sensors over the next 2-5 years. That was in April 2023, so April 2025-28. Which shows we're really still at the early stages of this product getting traction.

If we have no more orders next April/May I'd start getting worried.

- tenner was very bullish about nanoco's prospects in the litigation. said things like it could reach multiples of the company's market cap.

- was also insistent that they wouldn't settle for anything less than "fair value" worldwide across the life of the patents.

- didn't dial down expectations from analysts predicting higher than $150m at the lowest end of the estimates *just for the us*

so when the settlement amount was announced, investors were very disappointed.

however, tenner subsequently:

- wouldn't concede it was below expectations

- claimed there had been guidance from the company

- claimed the late night phone call on the settlement day with loam hadn't disclosed inside info (which may be the case, but is being considered in the hamoodi case)

- called some pre-settlement shareholders speculators

- has seen all commercial guidance delayed e.g. gen 1 validation, further ip legal action, gen 1 production, display development agreement...

which has thoroughly ****sed most shareholders off.

Kooba, gen 1 can't be cancelled as they'd have to disclose it. I also think there's an argument that they should cancel the buyback if break even were pushed to e.g. 2027 as part of their director duties to act in the best interests of the company.

This is a very strange period. Company has entered commercial production but delayed second order and zero visibility on ramp up. No mention of QD sensors on STMicro's website, no mention of products with SWIR capability.

With such uncertainty you have to determine what is the most likely explanation. I don't think gen 1 being cancelled can be considered the most likely at all. Far more likely there has been a relatively short delay.

Reasonable volume yesterday. I expect they're topping up under 15p.