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Lets recap with the RNS made on 16th June 2022 by Novacyt
On 15 June 2022, the Company filed a defence of the claim received on 25 April 2022 and a counterclaim of £81.5m against the DHSC. The value of the counterclaim is broadly in line with the amounts previously announced by the Company in its full year 2020 results, plus related interest. The Company continues to believe it has strong grounds to defend the claim and assert its contractual rights, including recovering outstanding sums due from the DHSC under the counterclaim.'
Can this statement be taken also to mean also reputational damages and loss of earnings incurred ?
https://www.lse.co.uk/rns/NCYT/dhsc-dispute-update-ldcfhiyo5p85qx6.html
If gov would pays in cash the difference between mcap just before the dispute and now ; that would be fun. 😂 😂
Agree with john
some would say their reputation was only due to gov....
what have they tried to achieve since? what was the plan?
NYCT would have to prove it lost business (and at what cost) before any compensation could be awarded. I'm not sure how they could even prove that (as compared to sitting on their hands and doing nothing productive while business went down).
Flatlander , good question . I actually asked this question few months ago but no one replied . I pointed out that Novacyt should be compensated for reputational damage as it would have affected their business considerably .
I was always going to hold my nerve till the end at 20p or at £3 , like many here I might aswell throw them out the car window for anything less than £3 , so im looking forward to the case one way or another
As an outside observer, I believe it apparent that NYCT cannot settle the dispute in typical fashion (sealed non disclosure agreement). This has gone on so long and there has been enormous reputational and share price damage, such that NYCT can only win by clearing its name as well as winning monetary settlement. As someone in the States, I'm amazed at how long the sword of Damocles has been held over NYCT. If the case is settled in NYCT's favor, does UK law allow additional damages for loss of reputation/disparagement?
FL
Hi HarChris ..Gamblers gamble .. what's your prediction .. ..trial mid point .. . . 64 =. 50% .. .. I have a point .....figure ...%. ...like to see all long term holders beat the money mens
I’m sorry… back to silence and letting it do it’s thing without fuss or fanfare!
Lol...i am with Ted on this!
great to see some traction
Ssshh! You might scare it!
Much nearer to my 80p prediction pre dispute resolution than our learned friend's 10p forecast :)
Good morning Gordon, regardless of whether they settle pre hearing , case must proceed as though it will go to court.
I would guess( not certain) that work must have commenced in earnest on initial prep of bundles .
This will be a hefty document and critical to the case. Imo
https://www.nortonrosefulbright.com/en-gb/knowledge/publications/db4eee23/preparing-for-a-hearing-what-do-you-need-to-do
60% of the cash has been spent but a third of that was on YG to start with. You then have considerable costs associated with the dispute, you have 'rightsizing' post covid with significant covid stock write-offs and then there's all the R&D in which there's always a lag to see results + the costs associated with integrating YG into the wider group.
Looking at it from a more positive angle ncyt STILL have £44m after all of the above + £8m vat reclaim if dispute is settled at nil + £70m of unused tax losses for when they reach profitable i.e no tax to pay for the foreseeable.
For the 5k you say you invested, Im surprised you are still here? As your commenting is frankly excessive, imo? Now wbafc who has over 500k so say invested, I would expect hourly (not daily) opinion? But each to their own...
From since I had a chat with a city firm, Ive always said it seems like a mid length investment and bucket loads of patience still required
Happy to watch n wait and add as I see fit... plus trying to catch up with wbafc lol
Take a day off from the moaning and try a happier post... go on, you know you want too :)
imo dyor
P100 why do you not mention any sales from the Yourgene health side of the business in your turnover figures?
Let it sink in, we've spent £60m of the covid windfall. That is around 50% MORE than we have in the bank which we all consider to be a lot. That is a massive spend. And to date, we have little to show for it. That doesn't mean we never will, but at the moment we as shareholders do not.
What is negative about my post? It's realistic. The company have given us zero info on strategy, contracts won etc, for a long time, but we do have a big cash balance which may rise. All we have currently is data that suggests that we consistently lose money (that's in the annual accounts) other than 2020. Having spent £60m of the windfall, not a single one of us knows how or if that will translate into worthwhile profits. We were lied to about £100m of organic revenue but soon enough the person who said that will be out of the door so hopefully the new regime will actually have something to say.
I see you are still keen, to promote the co, you have invested in LOL
Honestly, your skin must be inches thick! imo
a very dodgy lying ceo collapses a company and loses over £1m of your money. yet you still blow smoke up his ****. very odd imo.
Totally agree HC, cash + a bit if we actually announce something of note, otherwise we're just a cash holding company with some admin expenses. The market will look at us for what we are, a company losing money but one with a load of cash (relative to other AIM companies) so likely price it at or just below cash. Anyone talking of £3.50 is in another world as that is almost £245m marcap for a £11m t/o loss making company with anywhere (post dispute) from £0 to £100m ish. Literally no reason for any significant premium.
Look at this link and you will see the last case activity was last Friday 12 Apr 2024. Might explain the rise yesterday
https://caseboard.io/cases/f3fa868e-723e-443d-8d5a-991769a05892
Yes, ;) I am very aware ofvwhat Novacyt has become.
2020/2021 was very different not just because we were in the midst of a pandemic but because AIM was in a multi year bull run whereas now it's the opposite, liquidity is at all time lows.
Keep it realistic. Whilst nobody can say for sure the sort of SP of the covid highs is not going to be seen following the dispute resolution, even if Novacyt win it outright. A spike to the sort of £3.50 level would be absolute tops in my opinion but even that I think unlikely, much more likely would be a value a tad above the cash position with appreciation quickly following if successful execution of strategy starts to be seen.
Kaeren , Novacyt is not just a viral diagnostic testing company, but now is largely a reproductive genetic diagnostic testing company . So we don't need to be in a pandemic situation.