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I see, lol
One minute you are all bleating (amongst yourselves I might add) about an accountant being CEO and not spending anything?
To the next minute/sentence, stating that they will be bleeding 87 million away at the rate of 13 million (over a million a month) Jeez.. make you minds up?
#whichisit and why are you all still here? as if we didnt know :)
Holding and waiting patiently as no one seems to want to chat about, what we could vote for at agm and indeed what resolution, with enough votes, put forward?
Now back to serving at Mcdonalds counter as many portray I do something of this ilk? Lol
dyor all imo
Novacyt have been supplying WHO tests for Arboviruses.
https://twitter.com/kilkennyted/status/1639211358485979136?s=46&t=0fYm5oCaAXqKy-jRKbLmUg
This is the ncyt board, fyi
Yeah, it’ll dwindle quicker than people think. Circa £13m loss last year on £21m revenue. Take out covid revenue this year and that could be up to £25m loss, depending on the scale of cost cuts. Don’t need many of those years to kill the cash balance, with or without the dispute.
P100---- regretfully, you described situation perfectly. The company is in shambles.No initiatives being taken and shareholder value destroyed. Reliance on cash balance is shortsighted. It will dwindle to insignificance. DHSC dispute ruling might prove to be the nail in the coffin.
Aptitude poised to transform healthcare by making Home diagnostics and POC testing more accessible and efficient through the use of simpler cost effective devices,
https://www.linkedin.com/posts/kevin-p-nichols_aptitude-activity-7044795516139798528-xzBR
Dunno the reason for no new ceo, and you may be right re the dispute meaning it's JMcC as interim till then. Not sure I want an accountant running the show, the cost cutting is done so I think a business person and man manager is needed to guide NCYT back from this place, deal with the toxic culture, get the basics sorted a proper website and ecomm solution, get a focus and drive the business forward.
May not fix things but had to be done, surprised it took so long. I doubt the next person will do worse. I mean, DA nothing other than trash the value of the company so it’d be a tough act to follow. I’d be surprised if they get anyone before the dispute is done. Ok they get a big salary for a year but know they could be out of a job in a year and can literally do nothing in that time. It’s a great interim role for someone; come in for a year, do some **** presentations and get £300-500k, then get a proper job elsewhere.
They didn’t just shrink the business they managed to destroy shareholder value and any confidence in the company. Not a single thing deserved a pay rise yet they got it.
Pragmatism PI, I dunno the process but DA was hired, DA was given an opportunity to perform, DA failed, DA went. It's a fairly normal cycle. But time and space, if we like it or not, must be given in these situations.
Because, sacking DA doesn't fix things, it just means you start looking for someone else to do the job, and no-one knows if the next person will actually preform better. That is the price of sacking DA, so that is why it was important that he was given a chance.
As for the salary increases I suspect that the remuneration committee looked at directors salaries in similar companies and calculated fair salaries for their directors. It's normal but cheeky as they than made loads of redundancies and shrank the business.
Nothing to do with their performance. This is about you casting aspersions.
Kilkenny Ted - are you happy with their performance? They have completely destroyed the value of the company.
BH - ncyt have proven that all that stuff doesn’t matter. Who in their right minds thought DA should be ratified and those clowns deserved a big pay rise? Well apparently an awful lot of shareholders did, yet those majority shareholders have done nothing to try to oust them. Something fishy is going on at this company to have that much support amongst shareholders.
PI you've undersold the lifestyle co there. Surely JM & JW only do 2 weeks a year now. 1/2 yr accounts & full year. The 150+ staff just sit around making paper planes & playing solitaire. In fact why don't JM & JW just sack them all & then they can have a nice 7 figure salary until the cash is gone.
I can't be bothered reporting your posts especially as there isn't a reason for "Utter *******s"
PI that is how I understand a lifestyle business, but that is impossible with a plc because the company is owned by shareholders who vote thro BoD appointments and pay rises, the BoD at trading updates and AGMs need to explain what they have achieved and expect to achieve. plc bod's are managed by their shareholders, they can't hide for long. seriously there are no lifestyle plc's. Granted there are bad BoDs who get away with bad decisions, often for long periods, but it's not intentional, they're just the wrong people in charge.
Swag, I see the 'lifestyle companies' bandied about on here but yet to find one. Or indeed work out how a plc could be one. When I first heard the term years ago it referred to a small private company that wasn't run as a persons main job rather it provided an income that improved their lifestyle on top of what their main job provided. That makes sense to me, but I can't figure out what people are meaning with the 'lifestyle' company on here, it seems silly and fundamentally impossible for a plc. Can someone explain
Harchris, Usually am… :)
But always nice to allow benefit of doubt, until proven otherwise.
Always up for a chat… #itsgoodtotalk
ValJu you were spot on earlier, not ish.
"Swag yes he did all that but he also damaged his career. Guessing it'll be difficult explaining this role at interview. "
well he made the leap to CEO - remember he had never done it before. so he can put ceo experience on his cv.
i am sure there will be plenty of lifestyle aim companies willing to give him a shot
i am afraid he is in charge - he has to take responsibility.
PS: Of course I would also be happy to travel down to HarChris area (Im guessing Brighton ish?, if he wanted? If more who might want to meet and chat, live in SE than SW ?
Hi Amers,
I was born nr Heathrow, (Hillingdon Hosp - many moons ago), before moving down to Wiltshire again many moons ago, so you are about an hour an 15 from me ish...
A fair half way point would be between Reading & Newbury, pick a Pub (not to far from M4) and let me know :) nb: I would suggest the Vinyard, nr Newbury, but that would be a little more miles for you lol
Swag yes he did all that but he also damaged his career. Guessing it'll be difficult explaining this role at interview. Always said he looked isolated and unsupported by the BoD and management.
In hindsight the big mistake was leaving the redundancies until the end. Once he found out about the toxic work environment he should have acted and then hired new staff to grow the business and not rely on unhappy employees
Hi Val - I live near Heathrow and would welcome F2F meeting, if possible. I am willing to travel, if necessary.
Yet most PI's seem reluctant, to try to gain some voting traction, by way of a zoom meeting, as suggested by HarChris or indeed a face to face one, as suggested by myself? IMO it would give confidence to each other, to see that there are some GLTH's irrespective actual holding? Who, if they voted together, might, as nothing is for certain, stop the "sure as eggs are eggs" next pay rise and bonus resolution's that will come with the next AGM and even possible, affect any re-elections or new elections, of NED's etc? Who knows, with enough votes, the PI's could perhaps put one or more of their own choice resolutions forward?
Yes I know, Im probably day dreaming, but, if you dont try, you will never succeed? FWIW
"poor DA, "
are you joking? a hefty salary for over a year in a job that he produced nothing and saw the SP decimated. he also lost us bio involvement imho
he did a walkaround for a 100 days - which in reality turned into a walkabout.
we were promised an update in April - which was a joke. It was just a word salad of a key marketing glossary.
absolute joke - made worse when people voted for him to have a payrise!
@Poidster, hi, i cant Say a dissagree with what you say ! Im thinking the same for most of it.
Theznegativity of rns, the secrety, as you say, been shamefull.
But i think, i Hope, that some news are coming.
New CE-IVD assays should be launched soon. Versalab expanding, e-commerce, and FY results in the week of 24 April with outlook.
A Big concern is, will it be good, will it be positive, will it be clear and without hiding half of what they're doing, etc. And will it be just one rns before 6/12 months of more silence ? W&S.
One thing they told us last year though, those New multiplex will take 12 to 18/24 months. We are at 12. So news are expected. In the meantime, i also kind of understand there might not be much to Say.