Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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From the way Novacyt keep a low key profile it could be there are some hidden agenda / politics going on with BOD that has not come to light as yet . If you are a company with ambitions to become mid cap , then you want to promote yourself and get those II on board . I have invested in a number of big companies like snowflake / NIO / Tesla and they are all really hitting it hard on promoting themselves . I just cant see this SP moving up unless the BOD load up their shares and fill up their boots and only then will they have a purpose for wanting this SP to go up ..... they are deliberately keeping information low key so that this SP is kept low as possible. There must be a reason for them doing it . I also feel GM was pushed and there must have been a rift with BOD with him .
Who knows, maybe he has some of these lined up as Christmas pressies for some of the shareholders :
https://www.jojomamanbebe.co.uk/toys/comforters.html?gclid=Cj0KCQjw8eOLBhC1ARIsAOzx5cHlhvQyWKnjAcn4F7bO_erkc_1l_7Dn9DXqJ00Jdx7dHPkGRTzx4EAaAs3NEALw_wcB
I still strongly believe that during this pandemic 'supporting the share price' shouldn't need to be a priority. Covid has turned this minnow of a diagnostics company into a potential leading international one and that has everything to do with the moves and money they are making. The next twelve to eighteen months will be critical in making that step from 'covid stock' to diagnostics midcap and if they get it right there will be no issue attracting institutional investment.
They really do need to get it right going forward but in this transitional period perhaps their biggest concern is now how much institutional support they have?
Agree that there could have been a “hello I’m Dave, your new CEO” message, which I hope he’s done with all the employees, main suppliers and main customers. I would have expected something public as well, but I’m not losing sleep about not receiving it yet. He has already said below and I doubt any early message would say anything more, until he’s done his own analysis in role with all the information.
David Allmond, CEO-elect of Novacyt, commented:
"I am excited to be joining Novacyt at a pivotal phase in its development and I am looking forward to building upon Graham's outstanding work with the business over the past 13 years. Novacyt is poised for its next phase of growth and I am confident I can lead the Company effectively through this period, working closely with the excellent management team and Board to make a significant contribution to global health and deliver sustained and ongoing value to our shareholders."
MonkeyFish said:-
He will be getting up to speed, looking at this year’s rev and profit, seeing if he can also be as bullish as JM about the £100m ex DHSC rev for 2021, understanding the DHSC issue in more detail, the sales pipeline, the new product innovations being developed, assessing the people, meeting customers and then starting to think about whether he agrees with the current strategy and post Covid activity and what needs to be changed. This first period for any CEO/leader is to listen, learn, understand (whilst making sure the short term targets are hit) and then act.
___________________________________________________________________________________________________
How simple would it be for DA to introduce himself - Hi I'm Dave and I'm pleased to be taking the helm at NCYT, Then cut and paste the above.....basically I need to get settled in but nice to see you all and we look forward to taking NCYT to the next stage in it's journey.
That's all that's required right now, they've not even managed that.
It's not Machiavellian intentions from the board, just incompetence. They have the tools to defend the SP, if they don't from this point onwards then take them to task. They enjoy no institutional support.
James Wakefield had to run the recruitment exercise for the new CEO, that’s how boards work. Anything else would break all the BOD’s governance. I agree it’s all a bit strange, but we wouldn’t have even seen some of it if the AGM hadn’t been pushed back, so an odd situation was amplified. DA couldn’t join the AGM as he wasn’t CEO at that point. Also lots of people have commented on JW’s nervousness and poor delivery, which I agree with. Though he had to read what was written (agreed to be said) about DA, so it could be translated into French straightaway. This doesn’t mean that he doesn’t know him and wasn’t involved in recruitment. Was he more nervous because he had pushed GM out? Who knows, but that would explain why he looked so nervous and limited what he said about DA to what’s on DA’s Nova profile. IMO this BOD isn’t capable of orchestrating a push down of the SP.
We’ve got to give DA a chance, especially if GM was pushed. How much would GM have helped before DA officially started? He will be getting up to speed, looking at this year’s rev and profit, seeing if he can also be as bullish as JM about the £100m ex DHSC rev for 2021, understanding the DHSC issue in more detail, the sales pipeline, the new product innovations being developed, assessing the people, meeting customers and then starting to think about whether he agrees with the current strategy and post Covid activity and what needs to be changed. This first period for any CEO/leader is to listen, learn, understand (whilst making sure the short term targets are hit) and then act
I actually dont condone BoD "lack" of sp and shareholder support!
In that if the Dhsc, did go against them (I dont believe it will) and with the constant extra head count being engaged and then perhaps the lack of sales, as its all talk at present, no hard facts as yet?
Then with cash pot diminished, and sp this low, a cash raise, would not be conducive or easy to gain? So, yes the lack of effort to improve the sp is a concern?
But a BIGGER concern, is WHY are they not doing anything that is visible? And I dont count linked in, twitter, and that sort of PR I mean by good solid (totally positive RNS's, where the info released, can be held to account?)
FWIW.. internal wranglings within a BoD is never good, and the incoming CEO, imo, should have introduced himself and set out his stall, as he has had plenty of time, to write an opening speech! That he hasnt to date, makes me think, he could just be a "Yes Man or Puppet" for a handsome package, and that the real Puppet Master, has yet to reveal themselves?
IS IT HIS OLD CO? I do wonder??? all imo
Poidster, this is something I've been looking at for a while now because it doesn't add up to me either. I don’t believe the board are complicit in driving the share price down. I think the RNS language this year has been neutral/non-committal mostly due to dispute and that, coupled with large PI holding, exaggerates the effect on the SP. Having said that, a takeover is one of the only explanations that make sense but i believe the value would be somewhat in line with its peers;
Regardless If GM was pushed, James Wakefield should know his replacement because its his responsibility to appoint him on behalf of shareholders. He didn't seem to know him from Adam at the AGM.
I'm not overly concerned however, because James Mccarthy appears to be firmly in any future plans. He has a small holding of 10,000 shares at an average of 895p but more importantly he appeared (to me at least) to have a handle on things.
GM, if you'll believe it, also said he will remain a shareholder with a similar average.
Finally, Mccarthy has reiterated the underlying business is delivering 100m rev and 40m EBIDTA target several times now and reading across the sector, that would give us a minimum EV of 400m. Add the cash position to that EV and we're looking at 470-500m (661p-700p). This is an absolute bottom in my view (10x EV/EBITDA is ridiculous for this sector) and, like kaeren says, any whiff of it coming and the SP will rocket because there are so few shares.
If you receive a takeover offer that is too low you just vote against it. Quiagen shareholders voted against their takeover. It depends at what average value the majority of shareholders bought in at. Would they vote to crystalize a loss? Novacyt are also a French company, the French don't think so short term and will block a takeover if not in their long terms interests, commercial or national security.
Poidster your 23:37 sounds all too plausible to me sadly. I can't think of anything that better explains pushing the sp this low and keeping it there so long in the face of basically very good fundamentals. Like you hoping it’s not the case but holding what I have and waiting to see where we go. Resolution of the DHSC dispute might well help but that’s tied into the GLP/ABDX action it seems so maybe December ? Can't happen quick enough.
@Poidster
I rarely post here these days but despite comments from some i consider myself well researched here having practically lived and breathed this company for almost a year. In answer to your question:-
Taken from annual report:-
"James Wakefield acts as Chairman of the Nomination Committee and its other members are Juliet Thompson and Dr Andrew Heath. All members of the Nomination Committee are considered independent. The Nomination Committee is responsible for identifying and nominating for the approval of the Board candidates to fill Board vacancies as and when they arise, and to ensure that the Board consists of members with the range of skills and qualities needed to meet its principal responsibilities in a way that promotes the protection of the interests of stakeholders and compliance with the requirements of the AIM Rules. The Nomination Committee will meet at least once a year and at such other times as the Chairman or any other member of the Nomination Committee requires."
AND
"The Remuneration Committee is chaired by Dr Andrew Heath, and reviews the performance of the Executive Directors, and determines their terms and conditions of service, including their remuneration and the grant of options, having due
regard to the interests of Shareholders. The Remuneration Committee meets at least twice a year. Dr Ed Snape and Juliet
Thompson are the other members of the Remuneration Committee. "
So Andrew Heath and Juliet Thompson were those responsible for setting up and residing over what ultimately resulted in the Obscene LTIP deal for Graham and Tony. AND the same two would also be responsible for the new appointments to the board including David.
Based on recent events and Grahams VERY poor handover not to mention his recent adverts for work on Linked-in it very much looks like he was pushed. If so, IMO Andrew and Juliet would have played a major part in that.
Incidentally note:-
James Wakefield is the highest paid and earns ÂŁ 90k pa and is now the biggest board shareholder with just 36,839 shares
Juliet Thompson earns ÂŁ 43.8k but has NO shares in the business at all
Andrew Heath also earns ÂŁ 43.8k and owns 20,000 shares
Ed Snape earns just ÂŁ 28k and has just 17,919 shares
Obviously, we are yet to find out what the remuneration and share deal is for David. Its highly unlikely it will be an LTIP arrangement. Now no staff in France a conventional salary and share grants/options package can be awarded.
For what it's worth, i believe that the appointment of David will make a MAJOR positive impact on the business going forwards. SH need to give the guy time to settle in.
Hope the above information helps provide the clarity you seek
Take Care
Pork's
*me troubled
Kaeren, not sure i understand your fully loaded comment tbh, but the observation you made earlier this week is leaving troubled and I can't resolve it.
WHO exactly interviewed DA, nothing I can think of makes any sense in this situation. If it was the BOD which members, it must have included GM, how could it not and yet DA wasn't introduced, no one seems to know anything about him, who is pulling the strings here. None of this makes any sense. If GM was the encumbent CEO in charge, surely he would have introduced his successor, given that he should have been pivotal in his appointment.
Answers on a postcard please, I can't fathom this out at all
Poidster , expect to see the board fully loaded and I mean loaded prior to that , which would cause the SP to rise , rumourmill to go into overdrive and the SP rising further. No complicity from board for sale imo , it doesn't benefit them.
I'm afraid hype and bullshìt mean more than fundamentals on AIM.
NCYT under Mullis didn't want a hype built company.
Let's see if there is a change of direction from the new bloke. Bigging up your company isn't hype when it has produced the goods and continues to do so.
I'm beginning to get more than a little concerned recently, after recent news to me, was that any company wanting to take over, only had to offer over their highest buy in price in the last 12 months.
We all know the value, long term, of this company.
The SP seems ludicrously low on AIM for a company with the fundamentals of Novacyt and the future potential.
So, a question that's just dawned on me, the SP, to me, looks like its being artificially suppressed over the last 10 months.
The removal of GM, who IMO, didn't want to leave, plus other board members too, who seem to have departed without a whimper. The news blackout since the DHSC dispute. The new CEO who hasn't said a word yet, despite being announced a few months ago. The fact that said CEO wasn't on the AGM call, nobody seemed to know anything about him.
Are Novacyt being taken over on the cheap, by stealth.
I always thought, I've done my research, I know this field, the R&D is the best in the world. Sit tight, ride out the storm and hold for the future, happy days.
I'm now left wondering if there are other games afoot.
These are just my musings and trying to scratch in places I don't really want to tbh but this has been bugging me for a few days now.
I'm open to any and all opinions, just thought I'd put it out there.
I'm going to dig out my KY, because I've got a horrible feeling I'm about to be royally shafted.
Alternative views are both expected and indeed welcome
Thanks Neil I was looking at analysts price of I think was €5.10 and it is now €6.08 and wondering if the timing coincided with the French buying spree on Friday. Have chatted offboard to a couple of folks and no one knows exact date of change. I don't know either what precedes that change , ODDO gone , a new broker note or something else I haven't considered ???????
Kaeren, Barclays Smart Investor has the consensus history within the Research Centre, can be accessed on the link below, however I can confirm that the consensus has changed this past seven days!! Previously it was one Strong Buy and one Strong Sell, however this week now only the one Strong Buy. Would appear that one broker has ceased coverage.
https://research-centre.barclays.co.uk/
https://research-centre.barclays.co.uk/index.php?key=ea7203023c7aeba4fa1e04861d09a86a§ion=stockFactsheet&tidm=NCYT&index_tidm=AXX
Well said Investor Steve, think it went over his head lol
At first, I thought this was a song or poem the way you structured your paragraphs
For real Dunc it's as always
Unfounded allegations you are throwing around.
Currently there is no evidence, and you
Know this - but you're vindictive after selling at a loss.
One wonders why you
Find the need to stick around at all really, now you
Find yourself with zero shares
Can't wait for the rerate
Under David Allmonds leadership when
No doubt you'll be claiming you
Timed the bottom and bought back in lol
You know the saying happy as larry comes from a boxer who won $10,000 in a competition in 1890 and a New Zealand newspaper ran the headline Happy as Larry?
A couple of nice spots by uk2day re Indonesian take on Pcr
https://en.tempo.co/read/1520940/professor-defends-pcr-test-requirement-in-air-travel
https://coconuts.co/jakarta/news/govt-to-make-pcr-test-mandatory-on-all-modes-of-transportation-ahead-of-christmas-and-new-year/
Well looks like I was totally and utterly wrong with my 15,000 sequences analysed a day( I did say approximately:((((
Tks Larry
https://mobile.twitter.com/larry64450205/status/1453063885695684611/photo/1
In the last seven days it's approx 26,700 sequences analysed PER DAY.
Let's hope we don't hear criticism of that excellent statistic.