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I reckon they maintain very close contact, didn’t MR call 5G their supportive funding partner?
I’ve funded ENET but I’m clearly not in 5G’s league so don’t get regular chats with MR like 5G do, imv.
Seems more like 5G let it slip and MR, as a stickler for ‘the rules’ had to take some action. Hence the rather wishy washy between 5-6%.
ps, my holding, if MR wants to put it on the website, is between 1% and 5%!
I suggest this theory for that one dallo
MarkR new his register of shareholders was wrong, its been wrong for sometime wrt to 5G, but the onus is one the holder to inform the company.
5G informed the company they were below 6%, MarkR, wishing to portray the correct figure, was left in something of a conundrum, as ENET have no right to put the shareholding on their web site, unless 5G agree. There is no legal or notification reason for 5G's shareholding to be displayed. 5G don't want the scrutiny of notifying ENET every time their shareholding dropped and MarkR changed it on the web-site. So 5G agree that ENET can show the holding as between 5 and 6%. They are then free to sell/buy, within that band, without further scrutiny. Once they drop below 5%, they can do what they please without any notification.
The only remaining thing is why 5G told ENET they had dropped below 6% in the first place! it sounds more likely that markR found out, even if the RNS says %G informed ENET, which im sure they did, eventually!
The above bears out investor concerns that we know absolutely nothing about 5G or their intentions, not very good, but clearly ENET are up to speed on them.
Hi dallo
I can have a bash at answering that, or trying to!
before the latest RNS 5G held 4,898,637 shares. 6% is 4,521,104. So the minimum they must have sold to get below 6% is 377,534, not the c 800,000 you suggest. if they are closer to 5%, then thats a further c 750,000 on top of the 377,534.
Now I know don't everyone believes the 'double tap' theory, but is has proved very accurate in the past. I keep a record of such double taps, they account for practically all of the 377,534 to get under 6%. These are the double taps from the day of 5G's declaration on 02/12 last year, then I have a fix at that point. They have double tapped in December, january , february and march to arrive at their currrent position, imo.
There is no way, unless they did an off market transfer, that they have managed to reduce to c 5%, just not possible.
Quite why they choose to tell ENET they were below 6% is a mystery and makes no real sense to me.
5G have not been very active over the last month, presumably down to lack of liquidity and the low sp
atb
Re smoke signal, could be right. I’m struggling to think why they issued this RNS when they didn’t need to. Perhaps MR was aware their holding had dropped and wished his web site shareholder % to be accurate, hence this RNS
They couldn’t sell in the market now anyway, no liquidity.
They could still drop below 5% by transferring off market though.
On balance think they are waiting for a higher sp, together with increased liquidity, before selling down.
You’re welcome 01234.
I agree, there is a lot of guess work involved with Tarana.
ENET sure don’t do themselves or us any favours with their close to zero as possible and no explanation policy wrt IR.
This is supposed to be a plc , I think they would all be far happier if they were private, as they hardly embrace being a plc. This direction must come from the top so I assume it’s a deliberate policy by DL. This sort of stance on an AIM tiddler, where they need all the support they can get, is close to lunacy. Yet, despite umpteen shareholders telling them the same thing time and time again they steadfastly refuse to change. Add in our biggest funder is a completely unknown entity and it’s not a good mix.
Correction
When I say ‘could be less than 6%’, it clearly is from the RNS.
What I mean is my calcs show c 5.96%, but actual figure could be closer to 5% if they’ve transferred off market. There has not been the volume to achieve close to 5% by selling in the market.
My running total for 5G indicates they have just under 6%, based on ‘double taps’. It could be less than 6% if they have transferred off market. I suspect they would like to drop below 5% then they are not subject to any scrutiny/disclosure.
Of course, they would still have the further $2m to convert.
Least today’s news puts the 5G take over bid, in concert or alone, to bed!
Fairview
As ENET are a non uk issuer, 5G only have to notify , in their present circumstances, if they go below 5% or above 10%.
Once below 5% they no longer have to disclose, unless they go back above 5% again.
Therefore today’s notice was voluntary.
01234
ENET are still in the ‘Tarana game’.
A month or so back I questioned the $20m estimate with MR re what it does and doesn’t include. Tarana was my point of interest, the forward revenue projections include Tarana, I’m assuming just a portion of the $2m disclosed to date. Clearly Tarana is still live , be very surprising if that was not the case on a project that ENET/Tarana worked on together for a number of years.
The success of Tarana, which looks like it could be a runnaway success, must be good news for ENET. As we don’t know the commercial terms it’s hard to say by exactly how much. The only indication we have is there have been orders for $2m and the quantity was expected to be 5,000 over 12 months. This quantity may have increased with the follow on order.
Tarana on a roll!
Think me cash would be better employed there!
MILPITAS, Calif.--(BUSINESS WIRE)-- March 23, 2022 Tarana Wireless, Inc., whose mission is to accelerate the broadband industry’s efforts to close the world’s persistent digital divide, announced reaching two major milestones this month. After commercial launch in late 2021 of Tarana’s G1 platform — which delivers fiber-class internet service at a fraction of fiber’s cost and complexity — the company is on track to deliver over $100 million of revenue in 2022, from a customer base that has exploded to more than 120 service providers. Tarana also announced it has raised $170 million at a $1 billion valuation from preeminent venture and institutional investors to support their rapid growth. continues... hTtps://www.businesswire.com/news/home/20220323005502/en/Tarana-Wireless-Raises-170M-Leads-New-Approach-to-Fiber-Class-Broadband
Think there’s been more revenue ‘deferrals’ and fund raising RNS than there’s been contract news.
We’ve heard a lot about mass production over the last year, who’s doing it, when does it start, how ‘mass’ is it, and do they require yet more funds to do it!
Agree with that Dallo
The problem I have the company is run more like a private members club, it feels like we are a nuisance, they only issue news when it suits them. Not sure how many times we heard last year they’d got the component issue sorted and were fine for funds, to be met with yet more component issues, which again they ‘sorted’ and further fund raisings. They throw in large dollops of obfuscation and any attempt to shed light on genuine investor non price sensitive questions is met by a referral to a previous unclear RNS or we can’t comment because we stick to the rules. That is just not good enough , imv, and treats shareholders with disdain.
Looking on the bright side DL and SB have put a combined net £434k into ENET over the last two years.
They don’t strike me as stupid.
In addition, the ramping up of numbers at ENET hq is surely indicative of strong business activity.
In the face of nowt else I’m hanging onto that!
But they need to chuck us shareholders a bone or two.
I think most long term shareholders would be ‘happy’ to wait if we knew what we are waiting for?
What are the forecasts for this year?
What does ‘mass production’ mean?
Why are you recruiting like crazy?
What are the cash requirements for this year and next?
Who are 5G and why do you keep going back to them?
What is the relationship with 5G
Why are results issued so late after the period end?
What are the expectations re Tarana? We can see from the news they are expanding like crazy, how will this impinge on ENET?
What happened to the three tier 1 service venders re DU product?
Why are there no market forecasts for this year and next?
When do you expect to be cash flow positive?
The absolute refusal to take shareholders with them on this journey is very frustrating and will cost them dear.
I’m sure Mark is a lovely chap, but ‘sticking to the rules’ seems to be an excuse for zilch in the way of info out of ENET.
They need to change, but doubtless they will go their own sweet way.
atb