The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"And why would anyone think a small tech company should have more money than necessary ?? "
I am surprised that you have not noticed that British tech companies have an unfortunate habit of running out of money to the detriment of their shareholders.
And it says somewhere that the £3m buyback will not start before 2x April.
"I found the BT comment about dealing direct with end users as a bit curious "
I too found the comment a little off key. If you are developing a new product you need to talk to everybody involved even if there is no direct connection - you do not want to find that a crucial supplier has gone bust just as you launch.
It appears to me that the recent dilution can only be blamed on the FD and the company"s financial advisors. Sounds as if the auditors refused to certify the accounts unless the company raised more money.
It has been obvious for a long time that the company needs more financial leeway.
Any dividend or capital return gets built into the share price as soon as it is announced. That is why market announcements are usually made outside market hours.
There may or may not be movement in the share price depending on how much an announcement was already expected.
"Nigel Picketts who set up the company with Edelman,......................................... and made clear he goes if the Board goes."
Is this a statement of fact or merely the product of somebody"s imagination ?
"£40 million of which will be coming to shareholders in February in the form of a special dividend and/or share buybacks"
Here is a company which talks about markets in £billions but is expecting to get by on £25 million. That looks like a recipe for going nowhere.
"How much would they have 'won' without the funder? Zero."
So, even according to NGR, the funder did OK and Nanoco got about half a fair settlement.
"but there were likely other considerations and one of those would be the contract for supply"
Unfortunately that gives rise to the question " If the likely considerations were so good, how come LOAM were selling shares ?"