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"I did see that article from Michel. Not sure why he would refer to it as Lab21 acquired Novacyt."
You really think that the client list for Michel Dyens & Co, a global investment banking firm is really an article written by some bloke called Michel
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
So..........
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
"Lab21 has acquired Novacyt. Novacyt was advised by Michel Dyens & Co.
Novacyt (NYSE-ALTERNEXT: ALNOV), is a leading diagnostics manufacturer that develops and markets innovative solutions in liquid-based cytology for the detection of cancer, including cervical cancer and other non-gynaecological cancers, and Lab21 is a UK-based global specialist in personalized medicine and clinical diagnostics.
The combined group will create an emerging diagnostics leader with a portfolio of cancer and infectious diseases diagnostic products and services.
Michel Dyens & Co was the exclusive financial advisor of Novacyt’s shareholders on their M&A strategy, and ultimately the stock-for-stock transaction with Lab21."
That is Novacyt's financial advisor for the deal. That is taken from their client list.
But you are insisting that Michel Dyens & Co is actually some bloke called Michel and their client list is an article written by this Michel person. Yes?
@BH……would also like to know why it matters now. I’ve not read the board for a while so apologies missed some points.
Huey, firstly they term it a reverse merger and secondly almost all mergers need an acquirer. In this instance it is Novacyt.
"Accordingly, Lab21 was acquired"
In what realm do those 4 words mean that Lab21 acquired Novacyt. It couldn't be any clearer. The 'reverse' is referring to the fact that this deal was bringing a private company onto the market. The 'merger' element refers to the deal being between 2 similar sized organisations (Novacyt 54%, Lab21 46%). It is not 50/50 therefore someone has to be the acquirer.
What I don't understand is why you ignore the wording in all the official documents such as the annual accounts, rns's Aim submission docs and focus on one headline by some little French company. Surely in all your research you must have found loads of evidence that says Novacyt acquired Lab21, yet you choose to ignore it. Why?
Why would they term in 'Novacyt acquired Lab21' if the opposite happened.
You don't need to answer to me. Just answer those questions yourself. I'm comfortable with my understanding of the transaction. Let's agree to disagree.
Why is this important to you now. What has this got to do with the discontinuation of Lab21? Or are you thinking Lab21 can't be discontinued because it's the parent company?
You don't understand what you read because you don't understand what a reverse takeover is.
You keep posting stuff concerning the takeover but don't understand the 'reverse'.
You even post "In July 2014, Lab21 became part of the Group via a reverse merger with Novacyt." and then deny it. Loony.
Read what you post
"During 2014, Lab21 saw the opportunity to merge with a publicly listed, high technology diagnostics
business, which also provided it with access to new proprietary products and new sources of
capital."
Lab21 initiated the takeover. They went to Novacyt with a proposal (no shares purchased, that was more of your BS) Novacyt Shareholders approved takeover "Accordingly, Lab21 was acquired". Novacyt CEO steps down. Lab21 become the new management " The management of Lab21 was appointed to run the
combined business " thats the all important control. And Novacyt and the BoD was restructured "to reflect a largely UK domiciled business" what would be following Lab21's strategy.
Notice how everything happens in reverse from an ordinary takeover. That's why it's called a reverse takeover.
You're posting all this, you keep posting stuff that agrees with it been a reverse takeover
You even deny this is true you pretend it's some bloke called Michel and not a global investment banking firm who managed the deal for Novacyt.
Here's Novacyt's financial advisors for the takeover,
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
"Lab21 has acquired Novacyt. Novacyt was advised by Michel Dyens & Co.
Novacyt (NYSE-ALTERNEXT: ALNOV), is a leading diagnostics manufacturer that develops and markets innovative solutions in liquid-based cytology for the detection of cancer, including cervical cancer and other non-gynaecological cancers, and Lab21 is a UK-based global specialist in personalized medicine and clinical diagnostics.
The combined group will create an emerging diagnostics leader with a portfolio of cancer and infectious diseases diagnostic products and services.
Michel Dyens & Co was the exclusive financial advisor of Novacyt’s shareholders on their M&A strategy, and ultimately the stock-for-stock transaction with Lab21."
That is Novacyt's financial advisor for the deal.
Extract from the AIM submission document you posted:
In July 2014, Lab21 became part of the Group via a reverse merger with Novacyt.
The combination of Novacyt, Lab21 and Primerdesign
During 2014, Lab21 saw the opportunity to merge with a publicly listed, high technology diagnostics
business, which also provided it with access to new proprietary products and new sources of
capital. Accordingly, Lab21 was acquired by the French listed company, Novacyt, with the
combined business being owned 54 per cent. by Novacyt shareholders and 46 per cent. by the
Lab21 shareholders after the transaction. The management of Lab21 was appointed to run the
combined business and the Board was restructured to reflect a largely UK domiciled business.
Following the successful integration of Lab21 with Novacyt, the Group focused on its next
acquisition target in the molecular diagnostics market. In May 2016, Primerdesign, another UK
based business was acquired, the key attractions included a strong position as a rapid developer
and manufacturer of molecular diagnostics (especially in niche markets) and its strong financial
performance. For further information about the acquisition of Primerdesign, please see paragraph 5
of this Part 1 (Information about the Group) of this document.
It's pretty clear but I'll tell you what, let's agree to disagree. You believe Michel's article that Lab21 acquired Novacyt and I'll believe all the other evidence that states Novacyt acquired Lab21.
Remind me why it matters now?
*you're*
"I did see that article from Michel. Not sure why he would refer to it as Lab21 acquired Novacyt."
Michel Dyens & Co is an investment banking firm with a couple of hundred employees HQs in Paris and New York, not a bloke named Michel
You don't understand 'reverse takeover' so you don't understand the RNSs or accounts
Same goes for the AIM doc, it says 'reverse merger' but you don't understand the meaning.
Your left with a bunch of online articles, but other articles state it as a Lab21 takeover.
I had hoped just 4 words from a global investment banking firm who were the Novacyt financial advisors on the deal would get through.
"Lab21 has acquired Novacyt. Novacyt was advised by Michel Dyens & Co."
here's that link again
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
Look it's even in the URL. Go on try again "Lab21 has acquired Novacyt"
Well done for posting some actual research though. Even if it is misleading.
I did see that article from Michel. Not sure why he would refer to it as Lab21 acquired Novacyt.
So should we ignore:
The Novacyt RNS's
Novacyt accounts
The AIM submission document
Several investor articles
GM himself
We'll ignore all that and go with Michel. Lol
Still not understanding what you read. OK try the link to Novacyt's financial advisors for the deal, all you need to do is understand the words in the headline.
"Lab21 has acquired Novacyt. Novacyt was advised by Michel Dyens & Co."
here's that link again
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
Look it's even in the URL.
Huey, the document says Novacyt acquired Lab21.
Here's Novacyt's financial advisors for the takeover,
https://www.micheldyens.com/selected-transactions/lab21-has-acquired-novacyt-novacyt-was-advised-by-michel-dyens-co
"Lab21 has acquired Novacyt. Novacyt was advised by Michel Dyens & Co.
Novacyt (NYSE-ALTERNEXT: ALNOV), is a leading diagnostics manufacturer that develops and markets innovative solutions in liquid-based cytology for the detection of cancer, including cervical cancer and other non-gynaecological cancers, and Lab21 is a UK-based global specialist in personalized medicine and clinical diagnostics.
The combined group will create an emerging diagnostics leader with a portfolio of cancer and infectious diseases diagnostic products and services.
Michel Dyens & Co was the exclusive financial advisor of Novacyt’s shareholders on their M&A strategy, and ultimately the stock-for-stock transaction with Lab21."
That is Novacyt's financial advisor for the deal, understand.
No, no humour me DRB, have a read
https://novacyt.com/wp-content/uploads/2022/05/Admission-Document-Novacyt-18-October-2017.pdf
"Novacyt has a successful track record of undertaking acquisitions, including that of Lab21 (through
a reverse merger) in July 2014 ....."
that's their admission doc for an AIM listing, page 13 (unlucky for some)
Please tell me you understand now or will you continue to be so very childish
Binning off the loss leaders, but no doubt tests such as the aspergillus will reappear very quickly. All it requires is IVDR and hopefully CE.
No point discontinuing those tests that are profitable/ perceived need for ..
https://www.nbcnews.com/health/health-news/fungal-infections-developing-drug-resistance-rcna33937
https://novacyt.com/overwhelmed-by-covid-19-are-other-serious-infectious-diseases-neglected/
https://www.fishersci.co.uk/shop/products/aspergillus-double-gel-diffusion-assay/17323191
Expect Novacyt Aspergillus tests to be incoming : )))))
I don't think I'm humouring him B2. I think he's genuinely confused and way out of his depth in business. I'm happy to help fellow investors learn and understand things but Huey took it a little too far. Point taken though.
Then don't humour Huey DRB - ignore .
He reads RNS's, he knows what the historical score is.
But he wants to change it into his business speak, thus generating something only he speaks.
I weren't last Friday. Went into local spoons and it was empty. Lol
I bet your fun on a Friday night..
Kaeren, it's not relevant to today. It's not even relevant to Novacyt deciding to discontinue Lab21 but somehow Huey linked the 2 and made a song and dance about it. DA is discontinuing Lab21 not rebranding it.
How is this relevant to today ? The awarded shares must be long gone , sold at 10 or 11.
Also, what is this tripe:
"I'd go further as would any business person and say if you control something you effectively own it."
Someone needs 50% + 1 share to control a company. That doesn't mean they own the company. They still only own 59%+ 1 share. You're embarrassing yourself and disrespecting this BB by this persistent posting of tripe.
What's this?
"Ok SH in old Novacyt got a bigger slice of the new company than Lab21 SH. But there are 000's of Novacyt SH and only a few Lab21 SH. All SH are individual owners of a piece of Novacyt, Lab21 SH got much bigger slices of a smaller portion than the slivers dished out from the bigger portion to old Novacyt SH. So Lab21 SH would have controlled any SH votes."
Lab21 got 46 % altogether. Even together they don't have control. As soon as the transaction happens they cease being a Lab21 shareholders are now Novacyt shareholders the same as all other shareholders. You say they had a few shareholders. How many is a few? 5, 10. It's likely that by the end of the transaction not one person owned more than 10% of Novacyt. No one had a controlling interest. You're funny though, how you try to bend the information to support your rediculous claim that Lab21 bought Novacyt.
I've already dispelled the reverse takeover theory. I'll let you research that further.
I'm becoming a fool now. Must stop
Oh and Lab21 was no more an investment vehicle than it was a diagnostic company who bought other complimentary diagnostic companies. This happens all the time in business too. You may as well call Novacyt an investment vehicle as they acquired several companies too. Oh and want about Amazon, Microsoft, Google, Apple. Are these all investment vehicles too.
Lab21 had a basket of companies and maybe Novacyt only wanted Microgen but the Lab21 shareholders said no, it's all or nothing so Novacyt went with all. Maybe Novacyt saw value in all of the Lab21 companies, after all they were all connected and already functioning so why not. You make it sound like Lab21 were a conglomerate and that it would be impossible for Novacyt to be interested in them.
Huey, I appreciate I have been on the fence as to whether it was a Novacyt acquisition of Lab21 or a merger of equals.
Having carried out more research (which you should try also) I have concluded that it was in fact a Novacyt acquisition of Lab21. Here's what I think happened based on more than just an opinion:
Novacyt bod approach Lab21 bod about a acquisition. Both bods agree so GM talks to the Lab21 shareholders who say 'no' I prefer a merger. GM agrees with Novacyt to sell it to the Lab21 shareholders as a merger and to help him sell it as a merger GM will become CEO. Lab21 are happy and agree to the terms.
However, when it comes down to the actual transaction it can't be treated as a merger because that means dissolving both companies and creating a new one. That means Novacyt would lose their public listing status and ALNOV ticker. I'm assuming it would take time and money to get the new company back on the market. So they decide, the only practical way they can do this deal is if Novacyt acquire the entirety of Lab21 by issuing Novacyt shares in which Lab21 would then become a 100% owned subsidiary of Novacyt.
This would explain why GM refers to it as a merger because that is how it was sold originally to the Lab21 shareholders. This is more of a psychological thing. It also explains why everyone else including Novacyt and the media and the rest of the investor world treat it as a Novacyt acquisition of Lab21 (remember the word technically). It also explains why ALNOV who listed in 2012 are still listed today (no new company). All that would have happened is a reshuffle of the board and the appointment of a new CEO which happens all the time in companies.
Check the share capital of Novacyt between 2013-2015. You can see it increases dramatically because they issued 2.5m shares to acquire Lab21.
Also, see extract from 2015 annual report:
The General Meeting of 13 June 2014 approved the contribution to Novacyt of 100% of the
shares of British company Lab21 Ltd paid for exclusively by Novacyt securities. The Lab21
Ltd shares were contributed at a value of €18,846,745.90. The contribution resulted in a
capital increase of €168,203.93 and a contribution premium of €18,678,550.97.
Looks like I got my €18m purchase the other night spot on.
Hopefully, this now settles the dispute. I really should be getting paid for this. Lol.
I have shared lots of extracts, articles, reports, statements to support what I believe. Please tell me you weren't pinning your belief solely on GM being CEO.
In your world why was the Novacyt CEO sacked.