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Paul is a good chap. We have had some turbulence over the last few weeks but going forward, all blue skies now. A great future is building for Omega and I'm very confident we'll be heading to a pound soon.
Mizman,
That is a great email
More from Paul's email reply:
"Since then the Company announced a significant milestone for the UK RTC test development (ie design freeze) and so Omega now has even greater confidence in bringing the test to market as planned. As mentioned in the recent Company presentation, Omega has potentially a strong and consistent news flow over the coming months which will confirm not only progress with Omega's COVID opportunities but also with their core business as well. Significant news that expect would increase shareholder value would be confirmation of a supply agreement with the UK Government, followed by successful CE marking and approval of the UK RTC lateral flow product, as well as news of commercial traction for the Mologic tests. The company, and the Consortium, are working hard to deliver these."
Misman,
What is missing from that explanation was the share price fall is insistional leD not retail investor . When we got design freeze and Indian news the shares should have gone up and the push down was shorting I have no doubt
Received a reply from Paul yesterday on whether finnCap shorted Omega. Excerpts of reply below :
"I’m happy to confirm (having discussed this with finnCap) that they have not been shorting the shares. finnCap do not run any money so they would never be able to have a material short. The market making book for finnCap is generally long of their corporate stocks, but obviously they have to sell stock from time to time (when dealing with sellers) to facilitate liquidity.
Large volumes of relatively small trades can easily move a share price considerably (up and down) and this has been seen in a lot of COVID-19 related stocks where high volumes of trading since April has driven up share prices and all of the have come back some way since peaks in May – common with all of these are the large volumes of small daily trades, indicative of a surge in retail investor interest.
Novacyt rose from 38p in April to £4.91 and are now back at £2.78
Genedrive plc rose from 30p in April to £2.20 and are now back at £1.06
Avacta rose from 23p in April to over £2 and are now back at £1.35
I can’t provide any additional timeline beyond what has already been disclosed in the announcement. Whilst timelines are not price sensitive in themselves clearly investors are very keen to know exact timelines and I believe a number of investors decided to sell shares as we approached the end of June and they feared that design freeze would fail to appear before the “end of June” timeline. If the Consortium or Omega are able to give further details of timelines that would have to be in an RNS announcement.
It’s also why the Company made available to all shareholders the recording of the presentation it gave to institutional shareholders and wealth managers so that they would have the same insight as those professional investors who chose to invest in this funding round – you can see and hear the presentation here if you haven’t seen it already: https://webcasting.brrmedia.co.uk/broadcast/5eec769f5e278421d0699138"
"I also think that finnCap have also been very supportive of smaller retail investors by making their equity research and growth forecasts for Omega available through their research portal – you should be able to do so by registering here: https://researchlibrary.finncap.com/User/Login
There’s also a link to this on the Omega website. There you can search for the 22 June research note which details the revenue and gross profit potential of lateral flow device manufacturing based on capacity utilisation. I think making this level of equity research available to all types of investors shows again a major consideration for retail investors who normally would not have access to this research, which elsewhere is made only available to institutional investors."