Lightwaverf Share Discussion Threads

[clocktower] 11/2/2020 11:25

Lemmings more like tomboyb

[iamgreat1] 11/2/2020 11:19

Got a be thick to buy this

[tomboyb] 11/2/2020 11:17

Its called game of chicken -

[clocktower] 11/2/2020 11:15

What`s going on here today - am I hallucinating?

[clocktower] 10/2/2020 14:39

Matched bargain with Jenkins leaves next to no hope.

Once off market expect PI`s to be wiped out. Run for the hills if your still holding.

sinkyj, more risk than most realise at present, with the bulk of the electronics for most industries coming from China the hit that many businesses will be taking could wipe them out before long,even large players. In fact the larger players maybe more vulnerable as their wage bills alone could sink them imo.

[tomboyb] 10/2/2020 12:26

Finished -

[ukdannyboy] 10/2/2020 12:19

Delisting confirmed today

[sinkyj] 05/2/2020 15:20

Thanks for asking. Not good CT, there's going to be a lot of pain over this with supply chain all over the world. Quaratine getting much stricter now. Can see closdown extending to end Fe Always money to be made Athnotts, it's risk reward though. Somebody might make a killing. I still think this is sewn up though, I know the people. Private investor value is the least of their thoughts. I know a couple of people that might be having a go at getting their voices known.

[athnotts] 03/2/2020 15:01

might want to check out the chat over on lse. things stirring with someone buying in, named on rns after market ended on friday, 1.28% and well over £20k, might be a new board member or investment consortium lead or something.

[clocktower] 03/2/2020 11:55

sinkyj, How is your confinement going?

Surprised to see this bounce back today - dreamers that are holding this pile of S...
living in hope I guess. Last ditch pitch.

[highnetworthclub] 27/1/2020 11:55

Writing was on the wall

[sinkyj] 26/1/2020 09:48

Missed this, a bit busy getting locked down in China yesterday. Can't add much to the previous excellent comments. Glad I saved some of you some money. Whoppy, I told you how this will play out and the dangers of hanging around. This is done deal with full investor approval already. They could already be committing investment for afterwards.I expect, but don't know, a large investment is waiting. But at what valuation now? Out of sight of public view the company will be carved up by the 75% insiders and any private investors will be wiped out. Seen it before. The other option as laid out by others, snall loans and limping along, until cheap sale, is equally likely. Not sure how you will win, either way, Whoppy. I assume the plan, as said before, will be lots of options for directors, a post Aim cost cutting exercise, big investment in marketing, some nice sales and then a trade sale to Resideo that makes them a few quid.With regards to the first statement, don't under estimate the current situation in China. Even if it doesn't spread from China most of the electronics workforce, including myself , is under quarantine. 14 days, maybe 2 months. There's going to be massive disruption of China manufacturing in the next few months, be aware when investing.

[athnotts] 24/1/2020 20:44

That's what I said in my first note - it would be foolish to propose a delist without being reasonably sure of enough support...

[whoppy] 24/1/2020 18:45

The other major holders can requisition a meeting to remove the BoD and replace with their own management, backed with more cash. That's if they don't agree with the proposed cancellation and the current BoD. I would have thought though that the current management would have checked with the other major shareholders before today's RNS, but if they haven't then there's no guarantees they will get the votes needed at the the shareholder meeting.

[athnotts] 24/1/2020 18:23

they are right re illiquidity. re the other shareholders acting - what they can actually do other than invest again is not clear to me. revenue went up 46% but losses went up 42%. the company is nowhere near breakeven and it needs cash.

[whoppy] 24/1/2020 18:02

I think quite simply they want to save money on the cost of listing on AIM. They also don't see the point of being listed due to the illiquidity. They probably think shareholders can just buy/sell off market by matched bidding. Plus they get the freedom to not comply with AIM rules. Less protections for shareholders but whether it means the company will progress or just fade away it's not clear, but there is still a lot of investment that's gone in and the other shareholders still have their holding and a material interest that they will want to protect. If they think that's under threat by the cancellation to AIM, then I would expect them to act.

[athnotts] 24/1/2020 17:39

i agree ukdannyboy, the time to strike was back when the apple relationship was fresh. go big or go home.

and whoppy i would think the other big holders have already had something to say about this - i don't think this step would have been taken without consulting them. we've had this discussion on here before, if all the insiders, the institutions and the 3 or 4 high net worths that own a few % each all align it's over 75%.

cc will move on if they don't put more money in, whatever happens. once it's delisted an acquirer will move them on by definition, or a strategic investor (industry player or one or more financial institutions) will want a preference share class so that will be on top of them as well as their getting diluted. they might cling on to a board seat, depends on who it is that comes in.

if it's not acquired the board will change and board fees will reduce considerably too - at this scale a tech private company chair and non exec get options, maybe a bit of cash but nowhere near as much as we see happening here and elsewhere on aim. the new money will insist on that.

here's my speculation on what the path is - it will delist, will survive on loans from cc or others for a while until it sells to honeywell or another large player on a conditional earn out deal of some kind, ie part of proceeds will be contingent on post acquisition performance. the acquirer may retain some of the management if they like them/need them, but will most likely use their own people to run it.

it's a tough market (uk new entrants den went into administration a few weeks ago) hence i think it will be a conditional deal. just my 2p. (i've not talked to the company or any of their investors).

[whoppy] 24/1/2020 15:59

Yes, but the main problem would still remain which is poor management. CC are not any better, Everything that has happened is on their watch. It's time the management and CC moved on, imo. Perhaps they will be forced to now they've put their cards on the table.

[ukdannyboy] 24/1/2020 15:56

Honestly I think they were in a position a year or two ago with 2 good cards in their hand where they needed to raise £20m and go all in but instead they limped in and slow played and got caught out on the turn and river.

[whoppy] 24/1/2020 15:52

If management and CC are only interested in robbing shareholders by cancelling the listing and disenfranchising shareholders by not having to comply with AIM rules, then there will be a few of the other big holders that will have something to say about that, I would think.

[whoppy] 24/1/2020 15:46

It depends who the strategic review partners are and what it is they see in Lightwave and what they want to do.

[ukdannyboy] 24/1/2020 15:43

We’ve been saying that for years though. Back when I was in your shoes defending the company and sinky j and Clocktower were in my shoes now trying to convince otherwise. It would be an absolute salvage job and require an awful lot of money to bring back from where it is now, I really can’t see it happening. Don’t take my word for it, go on John Lewis and look at smart home tech, this stuff is garbage.

[whoppy] 24/1/2020 15:37

Agree that poor management is to blame. The company is not folding, just the listing cancelled, but I don't think the other major holders will accept the same old same old now they know the BoD intentions. The management has got to go and new guys appointed that can work with the strategic review parties and come up with a path forward that scales the business.

[phowdo] 24/1/2020 15:36

Stick a fork in it. Directors couldnt find any more mugs to fund their lifestyles.



phowdo - 18 Nov 2019 - 07:50:20 - 4972 of 5112 LIGHTWAVE RF
Always was a lifestyle company for the directors.
Now they're hoping to find some new sugar daddies.

[ukdannyboy] 24/1/2020 15:33

Best you can hope for here whoppy is that one of the big tech companies spots something that Lightwave have tech or patent wise that is worth paying for and they just take the whole company out to get their hands on it. Problem is I can’t see what that would be and even at the current market cap of £3m probably too expensive unless it was really good. Sorry buddy, I always thought very highly of the company back from when it was JSJS Designs but this is the reality. Poor management, failure to capitalise when they were ahead and then reinvest to improve products etc. It’s all led to the downfall. The sad thing here is that in the right hands 2/3 years ago they could have turned this into something big but it’s far too late now.