The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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If they can’t meet debts as they fall due it will presumably be put into the hands of administrators to wind it up.
And there is no evidence that the board will be actively try to save the company in the interests of shareholders only themselves
Company gave plenty of warnings of this, finished as a plc now. No doubt will thrive in private hands though.
What a mess.
From NSF today: Classic company leaving shareholders high and dry but it's business as usual for the Directors going forwards.
While the Alternative Transaction will secure the future of the Everyday Loans business and allow it to pursue its growth plans providing an invaluable service for its customers, it will unfortunately result in no recovery for NSF's shareholders. The Board expects the Alternative Transaction to be implemented by the end of June 2023 or in early July 2023.
In light of the above, independent non-executive director Niall Booker has decided not to stand for re-election as an independent non-e
The most likely outcome for Non-Standard Finance plc, as the ultimate parent company of the Group, is an orderly winddown following implementation of the Alternative Transaction. To facilitate this process, Non-Standard Finance plc intends to take steps to cancel the listing of its ordinary shares (the "Shares") on the standard segment of the Official List of the FCA and cancel the admission to trading of the Shares on the Main Market.
Jono Gillespie, Group Chief Executive, said:
"We are pleased that the Scheme has been sanctioned by the Court, which is a critical milestone in restoring the Everyday Loans business to financial health. While we are very disappointed that it has not been possible to carry out the equity raise as planned, we are grateful that - with support from our secured lenders - we prepared a fall-back transaction for this exact eventuality. We will now take steps to implement that fall-back transaction, which will allow the Group to grow and develop the Everyday Loans business, continue to provide much needed funding solutions for customers, and protect the position of the Group's employees."
Nope
Newuncle are you EarlofAim in disguise?
Auto Samplers are ten a penny and very simple devices in reality, nothing very technical about them at all and certainly we know that Wales are not using DVRG MWG kit to sample their waste water and nor is anybody else.
2 Technical details
2.1 Sample collection
There are two modes of sample collection from water or wastewater. A grab sample is a snapshot of
virus load at a single point in time. It is usually taken at peak flow with the aim to increase the
likelihood of capturing the most representative measure of shed virus (i.e. flow volume representing
the point at which the majority of households have used the bathroom). Or an autosampler can be
used to collect regular samples over a set period (e.g. 24 hours) in preselected time windows
optimised for the location, or in proportion to flow. Samples can then either be kept separate to
provide a time series showing how concentrations change during the day or combined to provide a
composite sample. The latter may be pragmatic where concentrations are highly variable or
dependent on diurnal human behaviour, as is the case with wastewater.
Isn’t that the spot checks? What about the automatic sampling machines every 15 mins?
Samples are collected from the WwTW and transported at 4°C to laboratories on the day of collection. Samples are
clarified to remove solid faecal matter and are subject to a PEG (polyethylene glycol) precipitation process. The quantity of
a SARS-CoV-2 RNA present in the wastewater sample is then determined using a RT-qPCR (reverse transcriptase
quantitative polymerase chain reaction) laboratory method.
Wales are not using MWG monitoring to collect their samples.
Hi Newuncle. What in that quote makes you say it’s over engineered? Currently doing 15-minute intervals using automatic sampling machines?
Latest Waste Water Monitoring Weekly report for Wales published 15 June 2023, methodology shown below, as I have said previously, looks like DVRG (MWG) is most likely over engineered and simply not commercially competitive:
Background
In September 2020 Welsh Government began sampling wastewater from 19 Wastewater Treatment Works (WwTW) from
across Wales in order to detect the levels of SARS-CoV-2. Since then the programme has undertaken work not only to
expand the coverage of the wastewater monitoring but also to improve the testing methodology to make it more
representative of the catchments served.
Welsh Government intends to monitor up to 50 WwTW catchments across Wales in order to assist in the early detection
of changing viral levels and the potential scale of outbreaks to help inform any public health action taken in the
management of the pandemic and beyond.
Methods
Wastewater-Based Epidemiology (WBE) provides comprehensive public health information at a community level. To
achieve this, wastewater samples are collected at the inflow of sewage treatment plants across Wales. The samples are
then analysed to determine the levels of specific pathogens, as well as summarising their physico-chemical characteristics.
This data is then mapped against known infection rates and other public health indicators at the regional level.
Individuals with COVID-19 shed SARS-CoV-2 genetic material in their faeces in the form of ribonucleic acid (RNA),
regardless of whether they have symptoms or not. Measurements quantify the amount of viral RNA present in
wastewater alongside the presence of different mutations associated with SARS-CoV-2. This information therefore
provides a representative and unbiased snapshot of the level of COVID-19 infection within a community at any point in
time. In summary, WBE has the potential to act as key capability to aid in the surveillance and control of COVID-19.
Currently, a mixture of ‘composite’ and ‘spot’ samples (each comprising 1 litre of wastewater) are collected from each
WwTW 5 times a week, Monday to Friday. Spot samples are taken at the same time each day to capture peak flow, while
composite samples are collected over a 24-hour period at 15-minute intervals using automatic sampling machines. Welsh
Government currently investigates levels of COVID-19 in wastewater at 47 sites across Wales within the Dŵr Cymru Welsh
Water (DCWW) and Hafren Dyfrdwy networks
D e a d
Odd price action and volumes yesterday, it will be interesting to see if the price can bounce back now, any thoughts?
Rock….what story did I make up, ref your comment?
Water-man ,you say be careful!!! yes yes of course this is a great price buy now it will go up! My god one finds all types in AIM for sure, what brought me here I will never know! Life lessons! Qatar is about as real as China Resources was for all anyone knows here. The likelihood is by June30th or before the stock will de-list and will be followed by a strike off where you and I have no say over anything and MSYS and Nigel Burton will buy DVRG from Nigel Burton at DVRG, it is a complete joke at this point. What exactly are we being careful of and what large instrumentation company wants to buy what is left which is for all intents and purposes a wheel washing company!!! Modern Water is an aged dying instrumentation company with zero engineers working there. Drink some coffee and wake up.
What exactly do you mean be careful? What actions can PIs take? We’ve been done, conned, tricked whatever by a master conman who will get away with it! Nigel burton is implicit and turner and pope are just as bad…. I’ll be angry for a long time but I’ll never ever invest in aim ever again! Fxxk these lying coe crooks
We must all be careful. The technology that Modern Water has is really advanced and at the sort of money we are now talking of makes it very attractive to some of the large instrumentation groups. What happened to the rns about Qatar. This job worth zillions has gone off the radar and someone is watching it closely and could swoop. Personally to buy the company just for that project alone would be worthwhile! Be careful.
… more likely they will aim for a delist followed by a strike-off, rather than delist then administration, since a strike-off of unlisted company would not require them to publish the accounts. … lack of audited accounts would make it harder to unravel, cui bono?
Stoater, I agree with your comments. Probably most likely that competitors have taken those Labskin clients away from DVRG for product testing (there are some very big players in that game) and might explain why Gerry threw the kitchen sink at STC if Labskin was struggling.
Soater a fortune has been lost by the majority of Pi on this board, but it’s not over yet, the Phoenix may yet rise from the ashes. Pi are bitter and for that reason some spout untruths about the company, all total speculation, for goodness sake wait for the RNS, stop making up stories. Hopefully 0.13 pence is the bottom, because I for one will wait for the facts and hold for the final outcome.
What am I missing here….the initial reason I invested in this company before covid and several name changes, was the labskin model that had had contracts with the very biggest names in the beauty industry.
This sounded absolutely fantastic from an ethical point of view and as a financial investment…..holy sh*t…how did we get ourselves into such a massive hole.
We seemed to be perfectly positioned to take the beauty industry by storm with out unbeatable testing facilities our unrivalled AI & IP.
This seemed like a huge opportunity on its own and anything else would be the icing on the cake. Do we not still have these money making contracts with the top 20 names in the beauty industry?
This is absolutely brutal and hard to bear, there are a fair few people here who have lost an enormous amount of money, it absolutely stinks to high heavens!
So that would just leave the Labskin and STC IP/Licencing options + whatever is left at Modern Water + Glanaco of course which is the only real business GB ever delivered. DVRG has now become a street sweeping/tyre washing equipment business but loaded with debt by GB's financial mis-accounting.