Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think we are all in agreement,whoever wrote it put a lot more positive slant on things.
With LR as CEO , he will attract institutional investors on board, and that will stabilise the SP volatility , and steady raise . With more acquisitions from the money received from DHSC , this would create increase revenue, this will only grow the company into a billion pound organisation.
The wording of the RNS is just as likely drafted by Steve Gibson, in my opinion.
RNS wording was certainly a big step forward since salad man days and I think we will hear far more from LR this year. Could prove quite a pivotal year for Nova one way or another but I am now quite optimistic.
I agree I really think yesterday's RNS was worded by LR and it was very much AIM focused to create positive sentiment. We have not seen that type of RNS fashioned since Graham Mullis was targeting his LTIP in 2020
Agree ted
I thought the same. LR knows how to play the AIM game as I said before.
It is news and sentiment driven.
Difference between "ncyt are confident .." type phrases and " very weak".
Good sign.
We will also get more product updates for sure
Wilson. Technically LR doesn't become CEO till May 1st however the wording of the rns intimates change has already happened.
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.
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.
Remember folks there’s only 70.63m shares in issue
Calm down man ( lol )
I do love ur positivity
Still a bit to go yet
Put ur feet up and smoke a Cigar
Can we start speculating with which companies Novacyt could / should go after ? . What can £130M buy these days ? Ideally Novacyt should be going for companies with real potential for profit margins of £25+M / year
If the result goes ncyt’s way then any payout close to the counterclaim will have them sitting on more cash than they did even at the peak of covid, having already endured all the costly restructuring and having acquired a quality company in YG.
No we won’t revisit the share price peak of 2020 but boy will they be well setup to hit the ground running from July forward.
Interesting that Novacyt learn of the summary judgement and one of their responses is to expedite board changes. I expected JM to maintain his position until after the full trial. They appear confident , is this appt as a result of this.
Are they getting their ducks in a row to have all systems firing post trial ?
I am hoping and with LR contacts we expect institutional investors come to Novacyt ., once Novacyt have won the case . This is where LR is the key in being the CEO and his presentation skills convincing Institutional investors to invest , which in turn will stabilize the share price and bring share holder value .
The DHSC will pay up in full . This case with Novacyt will not be reported in national news . Its no big deal in grand scheme of things with the national and international news . Wars are occurring and immigration issues nationally are more of a concern to public now than dispute with government over covid-19 diagnostic test payments . So in my opinion the government will pay up full to Novacyt . Its the tax payers that will pay for all this government's legal administration .
this means Novacyt are cash rich = £130M +
It needs to go to trial ...reputation restored ... Novacyt cannot move forward on there new path .........board ..Talk... confidence ...but primerdesign ltd are risk .....steady pl100 not a spike yet ...
Absolutely last throw of the dice !
Question for today is , will we hear from PI100 today or anytime soon ?
The DHSC may already have conceded, that certain aspects of its claim have no prospect of success, therefore possible that the case hinges upon this one aspect. Should the DHSC be unsuccessful with this Summary Judgement, I'd imagine that their case shall fall apart and won't be fit for trial.