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Green = no trouble.
The world is ruthless and one must be ruthless to cope with it.
That's probably the reason for so many disputes.
@crl123,
Agree with most of your comments.
Would be interested to know how you prepare for ruthlessness.
Martial Arts ? - Lol
Blue
Decent analysis and judgment. It’s a tough world in business and one has to recognize and be prepared for ruthlessness.
And duty to shareholders is a real duty. One might not think so in today’s markey.
Sbsolutely they have focused on product and not the market and its reality.
They have let themselves be taken for a ride by this inept and unscrupulous govt. of which I was once a member until Boris joined and showed his colours.
Enough from me.
I support your post.
Good post Blue. MMs playing games (and some PIs on BBS!) is a symptom, not a cause. They saw an opportunity, that’s all. Some seriously bad plays by the BoD got us to where we are.
However, the journey ahead is still extremely positive, it’s just that we didn’t think we’d be starting from here! Many expected to have left and arrived at a highly profitable destination by now, hence totally understandable frustration.
A long, patient hold for me....
It isn't just forward statements. It is the way the company is run & its commercial instincts.
It could be that the DHSC misled GM in what they said, or long standing counterparts made representations & asked things of him but were later over ruled, or any number of other situations but it is a failure of BoD to have been so damaged by it. The BoD is there to advise the CEO, to protect him & safeguard interests of SH whatever the circumstances are with the client & do they seem to have done that?
It seems GM's attitude when from gung ho (in the RNS a year ago, perhaps over cooking optimism, buying in at £8 to silence Dec - April) to announcing his retirement. Perhaps he is rightly fed up & deserves a break. The non Exec & Chairman have been awol in this dire outcome.
The weakness of commercial culture of the business and has been written into SP by MMs & IIs. A normal "business" for example would not develop unsaleable products. NCYT has put store on developing its own a LFT, holding it out as a positive, until they said blandly to shareholders that the market for LFTs is shot through while they are given out free. Oh, so if we hadn't realised the LFT shouldn't raise the SP, even ramper gangs on BB have specifically put on notice of it now & should not be surprised the MM's factored it it some time ago.
The same goes for the honour with which NCYT scaled up its supply chain (no doubt based on representations made from solid relationships in the DHSC) without due commerciality. And in NCYT paying tax dutifully on account. They did the right thing & have been let down, why do they carry the can?
It is not NCYT's (or at all GM's) fault that the DHSC acted with such an apparently underhandedness, nor its shameless ruthlessness & seeming duplicity but NCYT lacked the commerciality to avoid being a victim on an exceptional scale.
The situation would be far better had they had sharp commercial acumen in the BoD ruling in protection against worst risks & protecting GM, rather than an "experienced private equity* investor" James Wakefield. IMO even our very own shearclass would have made a difference judging by his contributions IMO.
*no surprise market relations & managing the market is so ineffective.
sorry for the typos....on the train :-l
That’s a fine, if somewhat distracting observation, but still doesn’t answer what was a simple question.
I've noticed of late, that the sentiment of many so called LTHs switches back forth almost on a bi- weekly basis irrespective of RNS news or anything research based....I've wondered what that stategy could be?.....is it to buy ultra low, sell high and repeat and repeat again and agin to try make up the loss of the last 7 months..... knowing that one day the fundamentals will come thrugh one day for a bigger and final payout....I wonder?!
If that’s a big No, then you must know all the specific fact of the dispute to say NCYT are not involved? What sort of dispute between two parties does not involve one of those parties?
Yes , to the forward statement from GM could have been more positive.....and a big No to the DHSC dispute...I've worked many years with the DHSC and I know how they operate and pay.....GM could have avoided telling it as it was or smoke screening to appease the real story, but that goes against the FCA/ RNS guidelines.
Kitzie, that’s a valid opinion for you to hold, but your response didn’t actually answer my question.
RBM,
I agree a couple of the forward statements could have been written with a little help from a PR expert....But I do get a sense of honesty in the RNS and most have been excellent....NCYT gets a lift for a week, only to be driven down again by the whack a mole society for any good news (R&D or otherwise) on here....too many agenders going on and many comments are even worth the energy of a response....we'll get news when it materially worthy, true and signficant....positive or negative
Bluelight.
I support what you say fully.
I feel exactly the same and have the same response . Including my begrudging decision to hold. The company cares about shareholdes not one jot. The departing CEO proved it.
I only post to support your negativity. It is called for.
No II's to speak of... Would that be possibly, because not enough shares?
Can only assume (rightly or more than likely wrongly) that because of the high level of PI's this rinse and repeat is "deliberate" to remove them in quantity?
Why else, would we have such poor PR (by comparison to what it could be) shorts, traders, derampers the works, seems to me, this Co and whomever wants this Co, doesnt want us?
Now, I know many dream of £54 etc - aint never going to happen, but I feel the £12/13 was to remove as many as poss, but it didnt?
Might I respectfully suggest to the powers that be, if they take it up there again, it will be like lemmings jumping off the cliff, probably from £6 onwards... but at these low levels, there is absolutely NO point, in leaving, simply isnt worth it, might as well stay put and wait and wait and wait!
#raisethespifyouwantourshares! all imo :)
Kitzie , can you tell me how NCYT management ‘from what I can see weren’t involved with either’? First drop was an appalling RNS saying it was impossible to give any financial vision. The second was a prolonged dispute between NCYT and it’s biggest client. We don’t know the detail there, but NCYT not involved, really? You put the blame for huge SP drop on PI sentiment, but what exactly do you think drives said sentiment?
Personally, can’ wait for a change of CEO.
I know others blame the DHSC for the share price decline, and thats for sure a large factor. But for me it is 100% a failure of the companies management that this has occured for the following reason. They themselves have created the environment for day traders, and the like to smash the price. They appointed incredibly poor brokers who's job it appears to have been to discourage Institutional investors, making NCYT more vulnerable to small investor fickle sentiment. They do nothing to promote themselves (I'm not buying the going under the radar not shouting about profits etc, you only get profits if you get paid for a start). They pay high salaries, and large bonus incentives that are not linked to shareholder return, in effect investors are paying these bonuses through the loss in mcap. At the moment to me it feels like the management are leeching funds from us. OK thats probably not the reality, but to me thats how it feels. Until they turn it around and make some massive changes to how the company is viewed and valued then to me it is a failure, not a world class company, far far from it. Anyway enough negativity from me, its a hold, but a begrudging one.
Dont disagree with that Kitzie. The issue remains though that NCYT has no institutional investors to speak of, which means that the are owned by small private investors, for whom a drop of 75% is beyond the pale. How is the share price expected to recover if the company wont do anything to support its army of small investors, through positive updates of clear future guidance? No one is going to invest in NCYT because they NCYT don't support and promote themselves, and by association the small investors. I've held them mostly for well over a year now, and even I wouldn't touch them with a barge pole right now. I'll just sit with what I have sunk in them, but I'm not investing a single penny more until they clear the DHSC or provide a useful update. And I certainly wont be supportive of company bonus schemes.
Bluelight,
It's the sentiment of the shareholder that has lost the 75% since the start of year....the first drop for PIs was selling on news around January and the 2 other dips came from the DHSC dispute.....NCYT from what I can see weren't directly involved with either. In fact NCYT's effort to repair and save the DHSC has been the right way in dealing with it IMO for current and future business, plus the influence it has in other world markets.
Most SP downward pressure has come from PI's moaning or desperate or traders manipulation able due to low volumes.
Top post Bluelight.
You should tell them this.
Correcting myself here. Net assets are £140m (Inc 100m dispute).
Blue, I agree. Net Assets of £182m (included £100m dispute). Mcap £210m. We'll nearly make the difference in H2. Throw a resolution in there and we climb to £8 with no other news whatsoever imo. That is how heavy this dispute has become. But it's all priced in now.
If its so world class why is it basically valued st cash?
What hacks me off most, and very nearly causes me to sell up (nearly but not quite) is the huge disconnect between what management say they've achieved for NCYT, worldclass leading diagnostics etc etc, and the reality that the x9mpany has dived over 75% this year. How can they possibly claim to be a success if they have lost hundreds of millions for the people who pay their salaries. They need a reality check, this year has been an utter and complete failure.
Yep £5 lower. Can't go another £5 lower ;-)