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Nanonano, they might need the patience of a saint... I don't know for sure of course but it's what my gut is telling me. My balls wanted to wait for a dip. My butt cheeks (and head) told me to tender and buy back/before at 21 to 22p to take a little free money (doesn't happen often in this life).
Only time will tell if my gut is right, if my balls had the answer or if my head is trying to talk out of my butt. Morning all!
See what happens now that £30m spent today buying back 125m shares....
Hmmm.. I'm not sure it's going to be what a lot of you were expecting. It already happened. It had been priced in already. I feel you may be watching a firework that's already been used..
I don't see why 24p will be a ceiling. It may well become the floor...
Kooba, as BT said at the interim results presentation Nanoco was valued far higher in the past, when it had no customers and no product to sell, and before the SS litigation.
The irrational mcap valuation was the one before the tender, not any rerating that happens now. Everyone focused on the cash in the company before the tender and now they can focus on the company. Where will it go from here? I don't know, but I plan to hold on to my shares and remain positive about the future potential, whilst being mindful of the risks.
404x, 160m shares were tendered. 125m accepted. Are you saying that people were desperate to sell the other 35m at a 'once in a lifetime opportunity' to get 24p per share and then hit the road. I'm not so convinced. I suspect some of them might want to get straight back in and hoped to do so at a lower SP. Those people will be buyers not sellers.
BC, I also spent hours crunching the numbers. Using the variables of pre--tender mcap, total shares tendered, money left in company etc. That led me to think the SP would go down to about 19p post tender.
And then I realised that it's the share price that determines the mcap, not the other way round...
In the words of Bruce Lee, It is like a finger pointing away to the moon. Don't concentrate on the finger or you will miss all that heavenly glory.
NGR, I'm not saying all this to show what a clever boy I am by the way. And I could be wrong. I'm also not you! Anyone who tries that trick just wants to drown out my words with their de-ramping, company sniping remarks so they can try to make a quick buck trading this share.
My belief was that the 125m shares that headed for the door leaves circa 200m shares owned by people more like me who want to hold on to them for longer. Some (maybe a lot) of those 125m will then want to come back and join the party, meanwhile the remaining 200m still in the party are not so keen to let them take their place. I didn't therefore assume there was going to be an opportunity to buy back in at 16-17p, or even at 20p...
NGR, I formed my view of that as stated. Thin volumes with a customer that has £3m to spend - regardless of the SP.
I'm just not so sure how many people do want to sell right now or anytime soon. I don't and I have a feeling I'm not alone...
My assumption at first was that the SP would drop after tender. I then came to the conclusion that it could settle at a higher level.
125m fewer shares in issue, reduced liquidity, lots of those 125m wanting to be bought back and the company buying £3m more shares. So... the company is buying now, then on the 25th April a big chunk of the £30m tendered could come back to buy and there are already some with liquidity who are ready to buy now.
Meanwhile back on the ranch, Nanoco entered into a contract with a big customer to sell a product that it now supplies.. And that customer has advised Nanoco to expect more orders for that product.
Make of that what you will. I decided not to wait for a SP drop any time soon...
TGTD, I couldn't fool you.. You've spotted that I have been a member since 2020 and yet I have only this week started posting. That just can't be possible can it?...
I think you might find there are more people who watch this board than those who post messages. And I think a lot of (not all) people who post messages are more likely to be those who trade this share and hope to talk it up or down. Whereas a lot of us LTH's sit in the shadows and lurk, patiently willing Nanoco to be successful - so that our longer term investment pays off.
NGR, they haven't specified a time and I'm not convinced you will notice when it happens... 125 million shares are being purchased today - those same 125 million that haven't been able to be traded since, for me on HL, 8th April. So, they have already been taken out of the market - meaning today is an administrative exercise. Have I got that wrong?
Amer, why would the tender at 24p not have been oversubscribed when so many people plan to buy back in at 16-17p?.. (Cough)
And would it be such a bad thing if LO were to reduce their holding of 13.4%? The company now has money in the bank so why would we want it to be beholden to them going forward? Some people seem to think the SP will still be blown massively by their wind..
BC, I agree. I thought about using this opportunity to buy in if the SP drops, then my butt cheeks started flapping and I just bought my tendered shares back for a slightly lower sum. So I have the same number of shares today, owning a greater % of the company and received some free money. Time will tell whether I should have listened to my balls or my butt cheeks.