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@Lewis this is an EA (Executive Assistant) role, I wouldn’t expect the role holder to understand the finer points of the diagnostics industry, but it is a role that larger companies have.I don’t know if GM had a secretary or a personal assistant, but it is usual for a new CEO to bring in someone that they have worked with before or trust in that role. More senior appointments will take longer as most would be on 3 or 6 month notice. Though don’t forget the senior team is reasonably new, but understand the market, and DA will need to do his assessment to see if there are people he’d replace. This will take some time.
Call the bin man.
Porky , good to hear your from you mate, like Kaeren mentions positive posts are unwanted by those with ulterior motives on this forum but the past is just that and with DA behind the helm we need to give him a chance to sort out any mess left behind by it would appear a rather mendacious past GM. We need to remember this share is remarkable value at the moment with a excellent product line and strong cash reserves , it will recover and sure DA is keen to get it back on course after a few gyro compass errors.
I am only aware of one new recruit thus far Lewis a EA for the directors.
Thanks all but honestly not neccessary , if I stick my head over the parapet and react to the constant whining and constantly show support for what I've chosen to invest in then I expect comments such as those written. I am a pain in the derrier for those who have ulterior motives , I both accept that and am aware of repercussions with all I write.
Think Poidster wrote some stonking posts last night and would much prefer focus on that. K
Alison A joins Novacyt
https://www.linkedin.com/in/alisonadkinsea/?originalSubdomain=uk
...Anne? - Have I missed Anne joining?
Exactly! we shouldn't invest here or in any other company on the basis that like YOU told me that.
Well said @airlineboy and @Porky
Airlineboy I second your comments, good to see you here also, now I'm off to that strange place called WORK. Catch you later.
@WBAFC - your dig at Kaeren was unnecessary and uncalled for. This is not the place for personal attacks and you should apologise and retract what you have written. Kaeren is VERY WELL versed on this business, does a HUGE amount of research and homework and she knows her stuff. I'm fairly certain that 90% of us belived GM would have pulled something out of the hat prior to the meeting. ALL of us lth's are hurting and with hindsight might have chosen to do things differently. I suspect that Kaeren has FAR MORE skin in the game than you. I trust and believe in her but less so in you I'm afraid to say. Ultimately we are all big boys and girls and we choose to make our own decisions and live with the consequences. Have a good day.
@Gazman
Re-assuring and recall the replacement of negotiators and tactics employed when it came to striking a so-called deal with the EU over Brexit. If an impasse is reached, sometimes its necessary to replace certain players.
Hi Steve, to clarify one point, the parties are not in arbitration, which is effectively the same as going to Court only in a private forum. The parties are still negotiating, which of course is what we want because it shows their is still a willingness to preserve a relationship and means a compromise could land any day.
I had thought for a while that the delay over a settlement was down to a negotiation of a new deal (the dispute itself sounds fairly straightforward and resolvable) but now it looks as though there is more at play, most likely the good law project or timing issues e.g. over budgets.
Happy Friday.
@Porky9
Agree with your initial comments.
Regards the blame game, personally, I take full responsibility for my own decisions and as you suggest, circumstantial evidence may point to Graham being not up to the job but only time will tell.
However Govt decision-making and incompetence, has been plainly evident for all to see on a regular basis and just not in this area. Unfortunately, there have been many thousands of victims as a result with many more to come.
Thankfully we are still alive to tell the tale - regards today, I hope for the best - onwards and upwards.
@WBAFC
I thought your post 21.54 was bang out of order. Frankly shocked that you are turning on @Kaeren who is possibly the Top and most well researched Novacyt Investor on this forum. You owe her an apology frankly. Shame on you.
You are just hurting because the share price is where it is now but no need to vent that on fellow investors that are also out of pocket and sticking with their investment until it recovers.
You are both passengers on the same ship, forget where it’s been, its where its going next from here that counts now. The Novacyt story is well from over.
Face the facts here: -
A number of us backed this business, many carrying out our own DD and research. I feel I’m qualified to comment having fully researched this company myself, lived and breathed it, yet still lost just over £160k here.
If anyone is to blame, it’s GM. At very best he has been possibly economical with the truth and at worst just plain lied to secure his LTIP bonus. No amount of good research could identify that. There has been material information here kept from us. This is the reality.
For those in the know, that information enabled nice timely exits for certain individuals but worse than that, what I personally can never forgive is that it facilitated vulture shorting syndicates to get in and compound the situation at the expense of retail investors.
Further, imo his actions at the EGM illustrated his lack of professionalism. At some stage in our career, we have all been there where we have had to congratulate someone through gritted teeth, but you just get on with it. It totally confirmed my suspicion that he was asked to go rather than him wanting to retire. Anyhow, the past is the past.
For what its worth, shareholders have a fighting chance for 2022 with David at the helm. Big Changes are afoot. Look how the new team is shaping up, GM out, Tony Out, hate to say it but the appointment of Anne has probably sealed Mandy’s fate but whatever the case it’s starting to look materially better: -
https://novacyt.com/executive-management/
Let’s see what David’s next move is, see what options and grants he gets awarded and go from there. IMO the business is getting prepared for scale in 22
GLA
All we do here is speculate that's the nature of buying shares in the first place or we would just stick any spare cash under the pillow. Everyone on this forum has made the wrong call at some point or other written on a forum or just thought it out loud. Those whinging at others for making a wrong call need to take a hard look in the mirror , if you are down then its a consequence of you not buying/selling at the right time , pretty simple but almost impossible to get right all the time. For many of us Trump getting into power was perhaps laughable , Brexit surely never going to happen , Leicester winning the Premiership for goodness sake ! My point is you need to take comments on here with a pitch of salt .
Perhaps unlike many on here since the pandemic started I have continued to travel around the globe and its interesting to see the stages in various parts of the world and the levels of acceptance or shear panic of the inhabitants. Everyone , please remember this is not a UK virus or a European Virus it's a global virus and it will be with us unfortunately for years to come anyone who thinks otherwise needs to go further than the local pub for opinions. NCYT is a leading player in this field now and with good sales teams will be able to offer support on a global basis going forward. Good luck everyone. Blue day tomorrow imo but I could be wrong ...........
It does seem odd that arbitration could take this long. Surely an independent arbiter could have sorted the mess out ages ago.
If a compromise position is being drawn up between the Gov and NCYT that keeps both parties happy and ensures a longer term relationship with even more embedding within the NHS and community testing an out of the blue announcement to that effect would do wonders for the sp with a genuine re-rate to something more like fair value.
Neil
For the most part I agree with what you have said, but sceptical that this would take place in each individual GP practice, really wouldn't make financial sense tbh. That said, this could well be a role for the community diagnostic hubs.
I would expect initially that the hubs will be just testing for Covid as thats the pressing issue atm. In time these hubs could develop and mature and start to expand their repertoire.
This would require companies like novacyt to make test kits that are as easy to use as Promate, which tbh isn't out of the question.
There is a lot more to this though, you can't just bung 1 of the Q machines in and off you go, there's a whole quality management system that needs to be put in place otherwise we could end up with another situation like immensa, the veracity of the results needs to be assured.
I don't want to pour cold water on your idea but I'm trying to add a little realism.
BUT I agree this is an area that novacyt can exploit.
In acute care one of the KPI markers is rapid diagnosis of sepsis, currently this can take anywhere from 48 to 72hrs + by the time a confirmation of what organism is causing the sepsis and which antibiotics will kill said organism.
These are phenotypic observations, what Novacyt has the potential to do is look for genotyic analysis.
So instead of actually having to grow and identify the organism, then test it to see which antibiotics are of use, they can just look for the genes instead, identify the organism and any resistant genes, this would literally save days and save millions of lives each and every day globally.
As this technology improves over the coming years, becoming smaller and more specific I can see the day when if you have an infected wound for example, they could take a swab, dab it onto a USB stick and within 10 mins or probably less it could tell you what is causing the infection and what antibiotics are going to work.
Science fiction??, I don't think so, I can see this happening in my lifetime.
This, globally would save trillions and also save ppl dying, having amputations and all the associated morbidity that this entails.
Novacyt are in the box seat to make things like this happen
Poidster,
You are absolutely correct. Traditional mainstream analysers aren't the right type of equipment for the new community hub initiative but Novacyts Q machines along with Co-Prep would be the perfect fit.
I agree with you that this could well be likened to Phase 2 that we missed out on. If the kit works at local level in the NHS it will work at community hub level with the advancement of Promate and the already mentioned Co Prep.
Now given the dispute there may be ground given on both sides, plenty negotiation to be had and thus resulting in compromise suitable to both parties.
I wouldnt be suprised to see Novacyt walk away with the majority of what we 'assume' they are entitled to via the contracts but give a little by not taking the Govt for damages and making a fuss and end up with a more meaning full mid length contract that can satisfy those questioning life after covid.
Antimicrobial Resistance is the biggest threat to health, in the future GP's shall be required to confirm the type of infection before prescribing antibiotics. Imagine a 10 min PCR test that can be conducted within the GP practice confirming the type of infection, which in turn allows the GP to prescribe the most appropriate antibiotic. At present there's too much guess work and often antibiotics are not appropriate, Novacyt can remove the guess work.
Also, antibiotics have been misused in farming with livestock, again another massive market for Novacyt and of course we are already selling Versalab portable.
Antimicrobial Resistance is one of the areas that Novacyt have told us they are going to be targeting.This is a rapidly growing problem as more bacterial diseases become resistant to the present antibiotics that have been developed.There is an urgent need for easy to use point of care tests to quickly identify between a viral and bacterial infection to help reduce the mis prescribing of antibiotics.
https://www.frontiersin.org/articles/10.3389/fcimb.2020.00308/full
@kaeren, I wouldn't worry about it, most of us have made, seemingly logical, predictions and been wrong.
Novacyt, with the appointment of a new CEO is probably going to go through quite a change.
GM and his team, if we're being honest, did an absolutely remarkable job taking this company from 12p a share to, at 1 point £12 a share in a very short space of time.
Their technical expertise has never been called into question.
However, given the dispute with DHSC and how long its dragged on, may have exposed some inexperience from the BOD. This isn't a criticism per se but they were pushed into an arena that was well outside of their comfort zone.
So, perhaps to take novacyt to the next stage, they need more seasoned directors who are used to operating at this level. If we are to get to a midcap market and become a serious player a shift change is necessary.
Difficult for all those directly involved but for us, as shareholders, probably welcomed.
I expect a few months of volatility as DA shapes his new management team but maybe this is the change that was required to move us on past the DHSC debacle and build for the future.
I'm happy to sit and wait, I've always believed in this company and what they do, a management change doesn't change this.
I'm hoping we get a fair stab at the new community diagnostic hubs or phase 2 as we would call it.
I said in a post a couple of weeks ago that I wouldn't be in the least surprised if this came back onto the agenda. I hope I'm right, Q machines and now with co prep are made for this, they can't put mainstream analysers into these hubs.
If I were braver, I would now go all in on novacyt in anticipation of them getting this contract.
Does this make me a ramper?
I predict £2.85 by Christmas.
Best of luck to serious investors, anyone else, how lucky are you feeling punk ?
@Kaeren
You're in good company.
A theory accepted by 99% of scientists may be wrong.
I did think he would yes WBAFC , infact I was pretty sure he would. I had no idea he would behave as he did at the AGM and exclude D.A
Obviously not a happy trooper for whatever reason. Let's see what surfaces over the next month , I'd like to bet there was plenty he could have told us had he so desired. But yes I was wrong.
Theory is needed to tell you where to look.
Karen you are simply speculated too much now and so far all your theories have been wrong.. you said GM would do something before AGM to elevate the SP and would be his final gift to PI before he departs..... your theory was again wide off the mark as usual.