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notaflipper have to agree with you let the recovery start from here surely no more nasty surprises to come. gla
Into some huge relatively untapped markets
I think under the circumstances, and a settlement is agreed, we should expect that the RNS will be brief and anonymous. I think the key message here was that long term future is safe and business is still expanding
Expanding well
We're resilient if nothing else...
Hi Guys Most of you will not know or remember me but I warned everyone on this board what was going to happen. I was reported banned threatened and perhaps now should receive an apology "Drif and Twix". I will now make the next prediction hold this for eighteen months sell at 27.0 Nightingale
very interesting spark; manageable from existing resources , sounds excellent if accurate!
But it goes on to point out that 80% of its sales are outside of the UK and that number is increasing as new orders are won overseas in areas not affected by this ruling. We understand that the most that Premaitha is on the hook for is manageable from existing resources.
Hemo, I would think that topic has been discussed many many times with TF.Personally I can't see TF walk away now and maybe let Illumina in the back door. You never know Illumina might have offered to loan the money to pay off TF then Prem could switch to Illumina with court case dropped, could work imo. Prem would then pay off Illumina bit at a time.
So would it have been TF that stopped us from settling with Illumina? I hate speculation but I wonder if there may have been an agreement that if the court case went against us TF would bail us out?! That would be interesting.
Thanks flipper all great points that indicate possibilities going forwards and I agree we need a quick resolution on this given the uncertainty and scale of the potential liabilities. Good luck to all who continue to hold.
Hemo, Just by way of precedent you may recall Inno-Gene which is the parent of Centrum Badan which was a contract Premaitha won in 2015. When Illumina started targeted Premaitha's customers in addition to Genoma it also targeted this company. Innogene reached an agreement with Illumina over its patent dispute in June 2017 by switching over its NGS to Illumina and in return Illumina withdrew the writ against them. Premaitha didn't probably because it was not allowed to by TMO. That dynamic has certainly changed in the UK region and EU which probably means that a deal could be possible. It has also been interesting to me that the YourGene Core Lab has a Illumina platforms as well as TMO's Life Technology and is an Illumina certified supplier. If no deal is possible I suspect you may see some bluster about appeals and some (small) cash raising whilst a distressed sale is worked through and for operating costs. A massive fund raising is unlikely in my view till the next hearing when the judge will decide if any damages or costs should be paid and the likelihood of a settlement is known. For me the key thing is for a deal to be done quickly (settle and / or sale) and for us to move on.
looks like the last 2 were buys and the 500k a sell.
One positive I can take from all of this is I can now own more shares for less money..... However I now have less money to buy them with! (Facepalm)
It's fine Thank you I am still drinking!! ;-)
on reading through the judgement did you notice anywhere it mentioned the anti-trust complaint put forward by Prem.This was to be looked at after the hearing, not sure if it only came into effect if/when they lost?
how's your head? lol
when you are beaten by better lawyers. I suppose they have the experience of doing this many times before so were bound to get one going their way eventually. What I want to know is the anti-trust (that would be looked at after the hearing) still 'live'? I don't mean the EU commission thingy.It was announced in the 4th July 2016 RNS.
Rbrand are you suggesting we bump someone off here lol
any facts are of interest but i am not sure whether all this detailed speculation helps anyone; at least some on each side will have their own agendas-always happens- and surely it is all pure guesswork now. one fact is no punitive damages-this is uk not usa. question- i believe the iona thing is supposed to be superior to what illumina have ?If so, wouldnt they want to buy it? I wasted much time trying to read thro the judgement omg.I dont think this kind of thing should be allowed to be patented; nearly as bad as the stuff Monsanto got away with doing.the judge sounds a bit dried up long winded cantankerous and seemed excessively taken with illumina`s experts, especially "boss" Hogg. I did once have personal experience of tax litigation and i remember it was strongly felt that when you found out the name of the judge, you pretty much knew the result. I suppose the same judge will do the rest ? unless prevented by illness or worse.
I am deducting any costs for Illumina and TMO etc. So let's say approx. �9.5m x 10 = �95m + say 20% premium.So Total is approx. �114m less Illumina costs of say �10m and then TMO payback of say �12m ....so that leaves �92m less whatever other bills that need paying so lets say we are left with �85m...that would be 26p+ a share,....am I totally wrong or not??
They rightly cared about us infringing their patents but do they care if TF buy us out other than TF will have the pockets to continue the fight and will ensure Premaitha survive in other territories? I guess they probably do. I suppose at the end of the day TF will want Premaitha to survive so we can continue to sell in other parts of the world. On that basis alone they will either have to fund us through this or buy us out and I have to say I favour the latter. The interesting point as raised by others is could we switch to Illumina because this would be another incentive for TF to buy us and for IL to pursue us? Does anyone know if this is technically possible?
The key determinant will be whether (1) TMO buy us out or another; (2) whether Illumina settle with Premaitha beforehand; or (3) whether the judge spares Premaitha some of the legal fees and potential damages. The reason why (1) is important is because if another company buy Premaitha out you would expect that TMO would want the price to clear 24p in order to have all their warrants exercisable. A company like Ariosa/Roche would not be phased by the legal fees and appeals as they are facing them anyway. Otherwise if TMO purchase us on a distressed basis it is a question on how those warrants and loans would be treated in the offer. Would they still pay 24p to get the 30% they have already paid for or will they just reduce this from the offer amount. Although Illumina would obviously play hardball but Premaitha can appeal to the Judge directly and the next hearing.
The latest victory I think isn't that big of a deal to them. 10-20% of our revenue isn't huge. I think it's more of a statement. It's the rest of the contracts we have are a lot more desirable. I suppose it comes down to, is it going to benefit TF to buy us out?
of course they care, why do you think they took us to court.They wouldn't mind getting their hands on Prem I reckon.Don't forget that Prem is doing well globally that's why TMO are in with them, they can/will generate machine sales for one of them, that's what it's all about, Illumina ain't bothered about the sales of the tests as such.