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So they're rebranding Microgen products and keeping the employees responsible and labs. Which is what I said previously. Microgen is not closing its rebranding.
Monkeypox....... Tomato flu?...
Hi. Wilson hope you well... Next test tomato....
Drb well said I'm not recalling anyone saying the lft's were finished because we closed down microgen perhaps someone will show me examples of where that was said.
Huey,
Therefore, Novacyt is proposing to discontinue both businesses, which will be treated as discontinued under IFRS 5 for 2022 accounting. The estimated sales impact of this decision is circa £2.9m in 2022, with a gross margin reduction of £1.45m, which is expected to be fully offset by cost savings. A cash restructuring charge of circa £0.5m is expected, however, this should be fully financed from in-year savings and the release of working capital to make the closure of the businesses cash neutral in 2022.
So Lab21 sold £3.3m in 2021 so I'm thinking the £2.9m is pretty much all of 2022 forecast revenue. If it was just a rebranding Huey why would sales be impacted by £2.9m?
It's clear to me that Lab21 is being discontinued. What does it mean when a product is discontinued? Novacyt will keep the bits that it deems worth keeping the rest will be disposed of. Some employees will be made redundant and some will transfer over to Novacyt. The £0.5m restructuring costs will be predominantly redundancy costs.
Microgen will cease to exist and the LFT's that we keep will be rebranded as probably Novacyt.
Huey, how are you interpreting what Novacyt are telling us in the rns's?
Thanks KT, some people on here insisting that all Microgen staff are being made redundant and and Microgen would cease to exist.
Confused me, as I understood that Microgen tech was being rebranded as Novacyt and everyone would carry on doing what they did at Microgen. Which would seem obvious and sensible esp as LFTs are a growth area for Novacyt.
Lft's partner developed and produced ?
Correct Baby. Microgen were the part of the group that produced LFT's.
No such thing as Microgen anymore. It's Novacyt. Novacyt do LFT's
Neither do I, but it's Microgen who do LFTs, yes?
Don't care what they want to call them Baby Huey , they didn't launch an LFT reader to see the results of fresh air. Clarification on what they have produced in the public domain would be good to put it mildly.
One read at Number of good RNS recently . NCYT time for a RNS to get this price moving .
This RNS can it be good timing . Launch of monkeypox assay
This RNS and other recent RNS good building blocks
Approval of exsig™ COVID-19 Direct test in the UK
I fear if there is a RNS result it will be ugly like always
NCYT time to deliver a good RNS for holders .
PathFlow, LFTs, is that not Microgen technology?
market projects lead
You might be on to something there Kaeren and Wilson
New LFT launches ?
Now that sounds Interesting ;)
Counted how many times you've used the word guess in a ramp recently beechknot?
Give us a rest.
imo, you dont do this for a couple hundred grand, pension pot, or even a salary increase?
You do it for the probable SEVEN figure BONUS, for "helping/assisting" a Merger or Takeover, at the "Right" sp price for the interested party?
This is aim, not a kindergarten, it is all about the MONEY and as much as they can get?
Again imo
Vai - Not sure why, but it is like they sometimes, do not want to be pro active and positive on the PR, it is almost, like they KNOW they dont need to
They don't need to be pro active, as they have around 100 millions in the bank, which will see them through for couple of years. They are not only getting fat salaries, also they may have big pension pots.
Watched and waited for some time before adding recently .My guess time drawing near for RNS .
Not sure why, but it is like they sometimes, do not want to be pro active and positive on the PR, it is almost, like they KNOW they dont need to? #whatiscoming ???
Oh I expect they have a full set of STD LFT ' S and Dengue and several more already :)
When they decide to RNS it is another matter. DYOR