Member Info for slowlyslowly

>> All of Northlands clients have no Nomad currently

Still strange, though. When Lloyds Bank and TSB merged, every customer of either automatically became a customer of Lloyds TSB. You'd have thought the same would happen here. ... But maybe that's now how NOMADs work, I don't know enough to know.

Likewise agree with most.

But take the need for finance. That's either a loan or a placing.

If a loan: If they renege on the LED business debts, how will that affect the willingness of a bank to lend to them?
If a placing: "Same situation but you’re now paying 0.05p instead of 0.5p", you correctly said. But each diluting share they place now raises 0.05p instead of 0.5p, so they have to dilute ten times more for the same finance.

Bottom line: We have to wait and see what they can do on those two jobs you just listed.

We don't know how low their cash reserves got before that placing. Neither do we know how much of the existing group cash is going to have to be spent to clear as many of the LED business debts as they can, and therefore how low their reserves will be now. My suspicion is that they've got a lot less space for manoeuvre than previously, and less scope to place with a lower SP.

Pushed up by a 5.5m buy

Yes, that's a pretty good summary of it, Mr.Investment.

So, on the surface, all the hopes for this company were on the Halcyon contracts coming through. Taking away the LED side of the business doesn't affect that, because that was never the side that was leading people to invest here for long term.

But: ... It may be that putting the LEDs into administration gives new urgency for fund-raising. I don't know enough about the assets and debts in the LED side of things, but one would expect there was some debt that wasn't going to be called in immediately. So they wouldn't have spent all the working capital in the group paying off the debt as fast as possible - they'd have left some cash to keep the business running. And, again, depending on how much they are free to move assets between the two companies, that could have given the group as a whole some cash to keep things ticking over while they pursue those contracts.

Now, however, any cash left in the LED side of things will need to go to pay debtors with immediate effect. That means that although they'll have cleared the debts from the balance sheet speedily, they've used up their cash at bank and in hand much faster than they had planned to, ... which means raising funds now has to be done more quickly to stay afloat. So, indirectly, the administration of the LED business does affect the viability of the IOT business.

Possibly. Probably. Maybe.

Others?

Or, TL;DR:

Yes

They've been trying to get out of LED manufacture and become an IOT / tech firm for some time. This has finished that process rather abruptly. What remains to be seen is whether they've killed the group in the process. It all hangs on financing the rump that remains.

@markdods - Why are you quoting an RNS from 18 months ago?

Don't know. But there's a case for not over-interpreting the NHS list that we know doesn't include PSL. That's one researched list. Other trusts can use suppliers on that list without having to establish their suitability. That's not the same as saying trusts can only use ones on that list. Because we don't know the trusts (alleged to be) in conversation with PSL, we can't know whether that's definitely off. Once again - we need news from the co to tell us

The same doctored screenshot of the article at http://luxreview.com/article/2018/09/suppliers-revealed-in-nhs-lighting-framework has now popped up on https://twitter.com/Noodles6795/status/1047865791415083009

(The actual article starts with "Thorlux Lighting", swapped in the screenshot to "PhotonStar LED")

In fact, https://twitter.com/entropick/ has vanished

crips

That's https://www.insidermedia.com/insider/wales/photonstar-led-to-raise-450000

(BB added full stop to link)

>> One .. walker crips have not sold

Ah yes, just found this: https://www.insidermedia.com/insider/wales/photonstar-led-to-raise-450000.

13.4%

Although spot the typo in the article when they name the company holding that 13.4% stake. ;-)

Anything in the show about lighting in the end? I wasn't going to watch the full hour just in case, but if someone can say how far in to watch then there's always catchup.