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My missus has gone to work in a foul mood..I persuaded her to invest at 190, and now this nugget has dropped.
Need a counter response from the BoD asap, and a positively worded one for a change, get every lawyer they can, perhaps Mr.Starmer might offer his services???
Don’t be so ridiculous. This is literally going to finish the company.
The £134.6m claim don't make any sense, I thought the DHSC already haven't paid the vast majority of the original contract?
Our potential liability is not £134m
This likely includes VAT of £26m,
Then there is £20m they never paid us.
Then there is £41m they haven't paid us from Q1 21.
That gets me to £47m.
Then there would be a tax rebate
Don't get me wrong. This is not great news but it's not as bad as it sounds. That's also assuming worse case that we lose 100%.
No doubt about it though. In the short term the market will be red for ncyt. Shame I was fully stocked.
P100 what a total waste of space your comments are, let's see if the share price drops to pre covid, REALLY!!
Sell your 10 shares and get a life!
They better recover that bonus paid to that prick Graham Mullis.
I’m assuming this means that attempts of a negotiated settlement have reached stalemate and it will now be settled in court.
I guess the companies whole future is now in a judges hands. God knows where this SP will be by weekend.
And yet the £37 billion of fraudulent covid claims have just been written off by the tories .
Corrupt , incompetent******.
well didnt help them with partygate did it :) lol
The circle is complete, we will now be back to pre covid prices.
Yet again directors trying to dupe us by buying in weeks before this.
NCYT should have gone to court to force the issue rather hoping for resolution through negotiation. Not doing so is presumably why NCYT has not used any of its cash & why the solicitor left the company back in October.
Hamster - its no coincidence it would bring the bank balance & SP to near zero which is presumably why GM left.
It is how you express said "opinion" that can inflate a problem. I'll leave it there.
Oh wow. There is now no floor to the sp. -30% today.
Oh look the old “we believe we have strong grounds..
Nope. Its delaying tactics to keep the companies tied in under the non disclosure. Non of the companies involved have reached a settlement and all the companies have different cases. This is all about tory brown envelops and the use of rubbish chinese tests and cancelled contracts. And now the DHSC have put in a counter claim. Disgracefully.
Can someone please explain briefly exactly what this dispute is about. From the beginning. Cheers in advance.
PJT, it’s not arrogance It’s an opinion. We are all entitled to one, no one has to agree.
And, of course, the government never employs Barristers for legal advice before launching into a case like this. Your arrogance merely antagonizes the situation.
There is no point not to continue supplying DHSC, we are no doubt making money out of them and they will be one of the few remaining bulk customers
Maybe why we haven't spent any of the cash, DA knew we'd be paying it back?
well we should stop supplying dhsc as this is imo just a delay not to pay tatctic and frankly the timing of it sucks.... #gamesbeingplayed and we suffer... #agmcantcomesoonenough #fuming
You obviously don’t know very many government employees. They are never responsible for their mistakes, they never lose their jobs, they never lose their non-contributory pensions, they at worst are moved sideways into another position with the same pay grade, would that happen to anyone in the commercial world? I sincerely doubt it.
let's hope today's RNS is a prelude to a quick negociated settlement, they have been negociating for a year after all!
Kamakiriad, as you say it's very rare but not unheard of and the DHSC must be fairly certain of their contractual rights as well if they are going down this route, as much as Nova keep stating their usual line. Clearly this is an enormous issue for the strategy going forward with such uncertainty on the outcome.
Any coincidence that 'their' claim is enough to make the bank balance just about zero?
Why so long for the DHSC to take this action??? Well we were at arbitration so looks like that has run its course and now it will go legal. Obviously we have been advised that we have a robust case. We were and are not really in a great position to enter into acquisitions while this hangs over us, though neither are we a great target. Going legal is similiar to arbitration in that the DHSC dispute is still hanging there, so best we continue to sell products and develop new ones.