Right in the range of max allowed - no surprises.
It is however a real shame they can't be super greedy right now. |
Date of purchase: 04/03/2025
Number of ordinary shares purchased: 390,000
Volume weighted average price paid per ordinary share (GBp): 40.7894
08:39:42-16:16:55
=====================
This is just above 50% [53.17%] of the max allowed, assuming the volume data is similar.
Yesterdays buy back volume was 53.6% of the max allowed. |
Using past twenty days volume figures from tradingview, 733,500 is the maximum buyback [other sources vary].
Assuming a close period, with a buyback fixed at 50% of the maximum, it's likely no more than 366,750 shares. |
Be interesting to see what volume the buyback ends up being today. |
Yup. Tough outlook but with ipo at 40p at the point where it starts to become fairly irrelevant. No. Decided against in the end. My curiosity didn't trump my time ? |
nigel, re ONT, outlook for US market is unknown due to political uncertainty.
ONT saying up to 15% lost t/o from NIH sources. I think it could be greater, as Trump looks set to shut down large parts of govt infrastructure, such as disease surveillance etc.
================
Did you get a reply from Liz at IPO? |
ONT getting beaten up. Below £1 now. |
Date of purchase: 03/03/2025
Number of ordinary shares purchased: 380,000
Volume weighted average price paid per ordinary share (GBp): 42.5311
08:26:34-16:21:46 |
 First Light Fusion Announces Strategic Update
03 Mar 2025
With a renewed strategy and business model, First Light will provide its unique amplifier technology to the fast-growing global inertial fusion industry
First Light will also leverage its technology for R&D purposes in non-fusion sectors including space and defence – today it announces its maiden partnership with NASA and the Open University
New business strategy creates a capital-light, high-margin business that will generate revenue from this year
3 March 2025: Oxford, UK – First Light Fusion (“First Light”), the leading UK inertial fusion technologies company, today provides a strategic update following a period of significant operational developments. This follows the recent announcement of Mark Thomas as First Light’s newly appointed CEO.
Advancements in First Light’s proprietary amplifier technology, combined with progress in the wider inertial fusion energy (IFE) sector, has provided an opportunity for the company to shift its business strategy, to capitalize on the huge IFE market opportunities enabling earlier revenues and lowering the long-term funding requirement.
Under this new strategy, First Light plans to enter into commercial partnerships with other inertial fusion companies and schemes where its amplifier technology can form a critical and complementary part of a commercial fusion power plant, regardless of driver approach. This replaces previous plans to build its own power plant based on a projectile fusion approach.
Simultaneously, First Light will partner with companies, universities and institutions in non-fusion sectors that can benefit from its unique technology and research facilities (the UK’s largest two-stage gas gun and Europe’s largest pulsed power machine) across sectors including space exploration and defense. Today, the company announces it is working with NASA and the Open University to explore the potential applicability of First Light’s amplifier technology in high velocity impact testing.
PARTNERING WITH INERTIAL FUSION COMPANIES
The new strategy will enable First Light to leverage its amplifier technology to benefit multiple inertial driver schemes and become a cornerstone of a more cost-effective and expedited path to commercial fusion energy for other inertial fusion companies. It will complement a wide range of existing inertial fusion approaches being developed in the US, Japan and Europe.
By designing targets for all inertial driver schemes, including lasers, First Light will be a critical enabler in the realisation of commercial fusion energy. The company will focus on the design and manufacture of consumable “targets”; embedded with its proprietary amplifier technology, tailored to meet potential partners’ specific needs.
This groundbreaking technology concentrates and shapes pressure to amplify power, enabling fusion power plants to be built smaller, simpler, and less energy intensive. It can reduce driver CAPEX by two-thirds and reduce the operating frequency, both of which significantly improve plant feasibility and lower the attainable levelised cost of energy (LCOE). This technology could revolutionise fusion power’s economic and commercial feasibility. With its amplifiers, First Light is set to play a critical role in unlocking the projected $1.6 trillion[1] potential of the fusion energy market. With fuel amplifiers representing approximately 20% of the inertial fusion value chain, this presents a significant market opportunity for First Light.
This shift will significantly reduce First Light’s funding requirements while accelerating the path to revenue generation. First Light is therefore discontinuing the proposed development of its ‘Ignition̵7; demonstrator, “Machine 4”, to focus on advancing and commercialising its patented amplifier technology.
PARTNERING WITH NON-FUSION COMPANIES
First Light is also in live discussions regarding partnerships with multiple companies and institutions outside of the fusion sector. The company’s amplifier technology and research facilities can benefit multiple non-fusion purposes in the space exploration, defense and energy sectors, where there is a requirement to test materials under extreme pressures.
First Light’s unique amplifier technology will revolutionise materials science research. The technology will enable other companies to access pressure ranges that could otherwise only be reached on very large, expensive machines. First Light’s amplifiers can more than double levels of pressure and increase speed by 75% on existing gas guns, unlocking exciting new R&D opportunities.
Simultaneously, the company continues to strengthen its partnership with Sandia National Laboratories – home to the largest-pulsed power machine in the world. First Light set a new attainable pressure record on the machine in February 2024 on its first shot, marking a milestone moment in derisking its technology on external platforms. First Light will fire further shots on the Z Machine over the course of 2025 as part of the Fundamental Science Program, and will provide an update on results in due course.
By diversifying into non-fusion sectors, First Light is transitioning to an immediate revenue-generating model far ahead of its original timeline. This shift ensures a sustainable business model and positions the company as a critical player in the broader innovation ecosystem.
NASA & THE OPEN UNIVERSITY
First Light can today announce it is working with NASA and the Open University in the USA to explore the potential applicability of First Light’s amplifier technology in high velocity impact testing.
One of the greatest risks to further space exploration is the risk of debris traveling at enormous speeds damaging satellites and vehicles. Alongside NASA, the Open University will explore potential applicability of First Light’s amplifier technology to test how critical materials sent to space react and perform under these high speeds and pressures, which cannot be replicated on conventional gas guns. First Light will lease its technology tests of shielding materials under greater speeds in a scalable and cost-effective way, whilst providing its expertise throughout.
Bart Markus, Chairman of First Light Fusion, said:
“We know that the science of IFE is solid. Our outstanding results at Sandia proved our technology can work across different applications. This combination of remarkable advancements in our own proprietary amplifier technology and progress in the inertial fusion energy sector has presented us with an opportunity to drive forward a business that will be critical to developing a global fusion power industry. Our new plan will accelerate our own revenue generation model by a decade and make First Light an integral enabler of our sector’s journey towards commercial fusion energy.”
Mark Thomas, Chief Executive of First Light Fusion, said:
“Our focus is clear: accelerating the path to commercial fusion by leveraging our amplifier technology to make fusion power faster, simpler, and more cost-effective. By partnering with fusion companies worldwide, we can provide a critical piece of the supply chain for a viable fusion power plant. Developed and manufactured in Britain, this breakthrough will not only transform fusion but also open new frontiers in materials science and beyond.” |
Capital light.
IP, software and simulation? |
Love this news! |
With a renewed strategy and business model, First Light will provide its unique amplifier technology to the fast-growing global inertial fusion industry
First Light will also leverage its technology for R&D purposes in non-fusion sectors including space and defence – today it announces its maiden partnership with NASA and the Open University
New business strategy creates a capital-light, high-margin business that will generate revenue from this year |
First Light Fusion Announces Strategic Update |
7,486,000 shares bought in February.
[0.78%] |
Date of purchase: 28/02/2025
Number of ordinary shares purchased: 380,000
Volume weighted average price paid per ordinary share (GBp): 42.8590
08:31:17-16:16:16
========================
03 March 2025
IP Group plc - Voting Rights and Capital - Month End Disclosure
Pursuant to Disclosure and Transparency Rule 5.6.1:
As at the date of this announcement, the Company has 960,252,125 Shares in issue and is not holding any Shares in Treasury. |
Lets see if a theory I work to also works here.
I reckon (to be proven) the next time it closses > 52.7p at the end of a week it will be a sentiment change and will then appreciate going forward. How long? |
Would welcome others thoughts on this but the discussion bamboo and I are having is around the execution of the buyback.
My understanding is (1):
IPO Group outsource the buyback to Deutsche Numis who are then fully in control of when to purchase within certain parameters set by IPO Group at the start of that process. There is no further intervention from IPO Group.
The other view is (2):
IPO Group outsource the buyback to Deutsche Numis who are then fully in control of when to purchase within certain parameters set by IPO Group at the start of that process. However, there is regular contact from IPO Group to Deutsche Numis around the scale of buyback perhaps on a daily/weekly basis except when in closed periods.
I'd love to hear other views. I always believed it was categorically (1). |
Bamboo, thank you for your insightful replies. Also, p1nkfish, thanks for sharing this interesting article.
Although an increase in the buyback volume would be appreciated (when it is possible), it won't change the current SP, in my opinion.
The upcoming update will unveil more info about the most likely reduced NAV and what actions will be taken. At the moment, the target price of 126 GBX appears to be unrealistic.
On the other hand, if share price drops below 38, I am still bullish and add more. |
ok - that would be really helpful - I'm sure there's a nuance to it but happy to read and reconsider. Of course I won't share it. |
nigel, formerly I thought the same as you. If you would agree to not share it I can pm you a copy of the reply I received. |
Date of purchase: 27/02/2025
Number of ordinary shares purchased: 381,000
Volume weighted average price paid per ordinary share (GBp): 43.0207
08:09:00-16:17:23 |
I think you misunderstand "Deutsche Numis will make its trading decisions in relation to the Ordinary Shares independently of the Group." but I'm going to politely leave it there for fear of boring everyone else to death. |
nigel, nothing has changed.
Deutsche make the daily trade decisions independently, however the buyback is, within the rules mentioned above in your post, and within certain pricing limits, under direct control of the directors. They instruct Deutsche, and Deutsche follow the instructions.
The only time directors do not have control is during a closed period when they may have insider info. This is why for the past two to three weeks or so bback volumes have been relatively constant.
As I have said before you need to get this info from the horses mouth otherwise you will never believe it. That's what I did.
The email is liz.vadams@ipgroupplc.com |
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