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Wilson. Technically LR doesn't become CEO till May 1st however the wording of the rns intimates change has already happened.
I expect if the court throws out the pre trial request regards full repayment, then the SP will increase significantly on that alone , and maybe they will finally come to the table with a serious offer , if not fine see you in court baby.
I expect the judge will throw out the DHSC claim , we will get a RNS on 1st May 2024 , and announced by the new CEO ! I expect a positive RNS for Novacyt which will confirm cash £130M+
Https://hallellis.co.uk/summary-judgment-applications-defences/
Https://www.saunders.co.uk/news/summary-judgment-three-things-you-need-to-know/
I feel that this is a tick box exercise for the DHSC, they've realised that their claim is not fit for trial and therefore it would be wrong to proceed, however they're required to be meticulous and follow due process before being able to settle the counter claim, after all they're using the public purse. Summary Judgement is clearly a formal process for cessation of legal proceedings, there's nothing to suggest that the DHSC believe that the summary judgment shall rule in their favour.
For the DHSC the writing is already on the wall and they know it.
Courts say that summary judgment is:
designed to deal with cases that are not fit for trial at all: Lord Woolf in Swain v Hillman (1999), the Court of Appeal
Sensible post B2, I'm confident by what we know but not sure about what I don't know:))
A CEO who's proactive what's going on and took him a whole eight days in post:)) enjoy your weekend everyone.
From todays RNS:
As previously announced, the Company and its subsidiary Primer Design Ltd are party to litigation with the DHSC.
The trial hearing starts on 10 June 2024, and finishes on 4 July 2024.
The court has listed the Pre-Trial Review to be heard on 30 April 2024. This is part of the normal litigation process and is predominantly concerned with administrative preparations for trial.
The court will also hear an application by the DHSC for summary judgment in relation to one aspect of its claim, as part of which the DHSC is seeking judgment to be entered for the full value of its claim.
***From the previous line it would seem that DHSC is confident that the application for summary judgment, in relation to one aspect of its claim, is strong enough to ensure a successful summary judgment to be entered for the full value of its claim.
This is the DHSC's attempt to avoid a full trial (I assume), and the above does not state that NCYT lawyers will play a part.
It would appear to be DHSC's best shot at convincing the court that NCYT is defending the indefensible, ie this is an open and shut case.
If this were true, NCYT's defence would have been exposed as too weak to hold water in the time since the DHSC claim arose (claim dated 25 April 2022), and now we are preparing for court inside two months, so NCYT defence has not been found 'too weak'.
Time possibly then, for one or other party to capitulate, unless a point or points of English law are at issue, and need to be tested in court.
This would not appear to be the case though.
DHSC are confident and have launched a summary judgement. This would not be in order if English Law interpretation needed to be tested in court.***
Continuing from the RNS:
Having taken legal advice, the Company considers this application to be very weak with low prospects of success, and is confident that the court will dismiss the application.
It is not known when the court will give judgment in relation to the application. It may be during or at the end of the Pre-Trial Review, or a short time thereafter.
RNS ends.
+++
I think if a summary judgement application is denied by the court, that would mean a full trial is to be held as scheduled.
Happy to be corrected on the above.
https://www.which.co.uk/consumer-rights/advice/what-is-alternative-dispute-resolution-adr-alOPl0X2lbsO
Are ADR (Alternative dispute resolution) schemes common?
In the UK, the financial services, energy, telecoms and aviation sectors already have large and well-established ADR schemes.
*Financial Ombudsman Service (FOS) - deals with financial services providers.
*Ombudsman Services: Energy or RECC - deals with energy suppliers.
*Ombudsman Services: Communications - deals with communications providers.
*Parliamentary and Health Service Ombudsman - deals with NHS organisations and government departments and services. - So I assume this is who has performed the ADR function.
£500 worth now in my son's ISA ! GLTA
" Ever get that feeling we was robbed of 3 yrs !!!"
Yep
HC at least we will see my £2.50 in the very near future and may b little more
Have I missed something? Kaeren's Twitter link below...... is there a quote from Lyn Rees?
WBAFC , sssh. Think we can manage just fine.
Yes, about the only thing they have achieved that is remarkable 🫣
Kaeren , when do we expect Porky9 to arrive on this BB with his predictions ?
Still smiling Kaeren thanks, although like many, am still nursing massive losses. However, it does no good to brood and we need to keep this momentum going -- nice to see latest Tweet! Let's hope this matter does not drift like another Rwanda if you get my jist. This govt. will not want any more adverse publicity although their own members appear to be doing a splendid self destruct job themselves. :)
Hello Naewise, hope you are well.
Great to see new Ceo taking a bullish stance, we've all sat watching the sp dwindle and not a word from the old board to support it. Long may it continue !
Personally try not to focus too much on historic events or my blood boils too and I'm sure BP heads North. It's certain posters who led us a merry dance that gets me going 😉
Nice to see this for a change.
https://twitter.com/Larry64450205/status/1781329358512119963?t=1QX1en1ABd1-wUmArx4_6A&s=19
Yes only 70.63 million shares in issue and it has been that way since 2021. I am very glad that Novacyt aren't one of those companies that keeps issuing shares YoY. I also think it is very good that Nova has a nice amount of cash behind it (hopefully even more soon) with todays climate of high interest rate, which I am also hoping will come down lol.
I remember that only too well Kaeren - it still makes one's blood boil especially as the blighters responsible for all these shenanigans get off Scot free! At least we are likely to get rid of this devious govt. sooner now than later. Situation looking decidedly buoyant and we could well exceed £1 next week once the news is digested over the weekend.
Good idea Mr buffet jnr....think weekend. ....market money can digest .......pause ....and think % .= Time . Nice to see upbeat posters
Remember folks there’s only 70.63m shares in issue
I have over 50,000 shares , 15 minutes ago I went for a small top up but HL wouldn't quote a price - trade went through 5 minutes later but interesting that it was " in auction" for a small period
Once the press picks up on this possibly over the weekend who knows potentially £3- £4 , I am pleased for any long term holders who have stuck with it .
Never thought I’d say this since the Covid days, today being a Friday there seems to be an element of FOMO taking place with all this speculation going on.
Yes Peter, brings into sharp focus a lot of the events of last few years. I was just thinking about an article I read last summer. Parallel parliament whereby Neil Hanvey MP openly accused the Govt of ignoring Novacyts Salivia test ( CTDA ) the notoriously slow validation that handcuffed us, whilst we sat by waiting and watched Chinese LFts flood the market. The supposed support for UK Diagnostics, that resulted in many UK companies being sued, instead of what they deserved, which was to be rewarded.
I hope we can very soon put this to bed and move on with bulging coffers.
Here's hoping that all of us who have held for so many years now finally see some positive results.