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Hi Guys
Q1 Can you please stop putting brakes on any potential share rise going forward? Maybe hire a social media manager?
No-one was trying to put the brakes on a potential share price only to prevent investors from incorrectly interpreting the recent Government disclosure. It was evident from posts on twitter and emails received from investors that there was a worrying misconception that the additional Government disclosure made on Friday had somehow confirmed a contract award of £374m (beyond what had already been previous disclosed in March) or that Omega had in some way had purchase orders for this value confirmed. That is not the case and the caveats that were stated in the 15 March announcement still apply. We simply made it clear that the disclosure had not changed anything in terms of the contract, or the expected performance of the business beyond what had already been stated, and we reiterated that the Company still awaited news on which test to produce and subsequent news on actual purchase orders for these tests.
I believe the approach reflects the Company’s desire to be honest and clear with shareholders, to ensure that expectations on future performance are correct, and that investors are not mislead or deceived by false information or an incorrect interpretation of the Government disclosure.
Q2 Shareholders feel that the director sales were poorly timed as really positive tweets were communicated followed by a director sale, could we ask that as the majority of shares are owned by private investors to take into account what impact this could have and communicate reasons for sale i.e timebound etc.
Tweets and other social media posts are entirely coincidental to Director dealings, they were not co-ordinated and we are not able to control individual Directors actions. They did not sell shares in possession of inside knowledge and you’ll note that Colin King has not sold any shares.
Q3 As discussed with Sam can you please apologise to shareholders as this has cost us 15% off our share price and it continues to fall.
I don’t believe the Company needs to apologise for being honest and clear with investors and making sure people didn’t interpret the disclosure incorrectly. We appreciate that the Tesla comment has irritated a number of shareholders but it was only meant to be light-hearted, however we recognise the strength of people’s reaction to this and will bear this in mind for future communications.
Q4 Can you confirm the 18% margin mentioned in the contract is just for phase 1 pre production phase and is an amount on top of machine set up and upscale reimbursements as it is being used to devalue Omega and as this is factually incorrect I think you should address this.
That is just the margin for pre-production. Margins will naturally be higher but these have not been disclosed and Omega is not at liberty to disclose these.
Q5 Can we please confirm via offic
Reposting as the whole thing wasn’t posted…
Hi Guys
Q1 Can you please stop putting brakes on any potential share rise going forward? Maybe hire a social media manager?
No-one was trying to put the brakes on a potential share price only to prevent investors from incorrectly interpreting the recent Government disclosure. It was evident from posts on twitter and emails received from investors that there was a worrying misconception that the additional Government disclosure made on Friday had somehow confirmed a contract award of £374m (beyond what had already been previous disclosed in March) or that Omega had in some way had purchase orders for this value confirmed. That is not the case and the caveats that were stated in the 15 March announcement still apply. We simply made it clear that the disclosure had not changed anything in terms of the contract, or the expected performance of the business beyond what had already been stated, and we reiterated that the Company still awaited news on which test to produce and subsequent news on actual purchase orders for these tests.
I believe the approach reflects the Company’s desire to be honest and clear with shareholders, to ensure that expectations on future performance are correct, and that investors are not mislead or deceived by false information or an incorrect interpretation of the Government disclosure.
Q2 Shareholders feel that the director sales were poorly timed as really positive tweets were communicated followed by a director sale, could we ask that as the majority of shares are owned by private investors to take into account what impact this could have and communicate reasons for sale i.e timebound etc.
Tweets and other social media posts are entirely coincidental to Director dealings, they were not co-ordinated and we are not able to control individual Directors actions. They did not sell shares in possession of inside knowledge and you’ll note that Colin King has not sold any shares.
Q3 As discussed with Sam can you please apologise to shareholders as this has cost us 15% off our share price and it continues to fall.
I don’t believe the Company needs to apologise for being honest and clear with investors and making sure people didn’t interpret the disclosure incorrectly. We appreciate that the Tesla comment has irritated a number of shareholders but it was only meant to be light-hearted, however we recognise the strength of people’s reaction to this and will bear this in mind for future communications.
Q4 Can you confirm the 18% margin mentioned in the contract is just for phase 1 pre production phase and is an amount on top of machine set up and upscale reimbursements as it is being used to devalue Omega and as this is factually incorrect I think you should address this.
That is just the margin for pre-production. Margins will naturally be higher but these have not been disclosed and Omega is not at liberty to disclose these.
Q5 Can we please confirm via official channels any sales of the new visitect antigen test to restore shareholder confidence and not just say we don't divulge this information to shareholders as we feel we deserve you to go out of your way after the Friday night twitter episode to restore sentiment.
As and when there are significant sales or commercial agreements then Omega will announce these yes. They only launched this on 30 April and are in commercial discussions with a number commercial partners.
Q6 Can we request that you get behind any rise and allow the share price growth or do you want to keep it low for institutional investors?
No we don’t want to keep a share price low and would prefer the share price to rise based on actual news on the performance of the business or changes to the expected performance of the business (and not on any misunderstanding of a Government contract disclosure).
Q7 Can we ask why you are quick to correct any misinformation that causes the share to rise but not correct misinformation that causes the share price to fall?
You’ll have seen that previously we’ve corrected misconceptions of imminent Placings, claims of fraud and also suggestions that Colin had sold his entire shareholding.
Q8 Are we at 2 million a week capacity or nearly there? 1.5m 1.8m etc
I’ll pass on your desire for an update on production capacity – I cannot provide that to shareholders individually or via email.
I appreciate your time and look forward to your responses.
Source: https://twitter.com/adamd1976/status/1392890976012754944?s=21
So no apology for the Tesla comment which quite a few of us found disrespectful - especially on losing 15% of the SP.
Some solid responses, very difficult for the share bashers to use for de-ramping.
Why the sudden secrecy around capacity, all they ever bang on about is capacity targets, surely even a figure on actual capacity would clear up a lot of the bul****
Do we know when/if there will be another presentation from CK to provide an update on all aspects of the business?
“No we don’t want to keep a share price low and would prefer the share price to rise based on actual news on the performance of the business or changes to the expected performance of the business (and not on any misunderstanding of a Government contract disclosure).”
I thought we had actual news that was transformational to the company already, Walbrook are beyond useless and condescending to Investors, the misunderstanding only comes from Colin’s vagueness
@Magpie21: we are overdue an April trading update, but looks like they aren’t bothering this year, its not as though its investors are clamoring for news
@Computer..bedwetting and yapping at its best."Oh give me an exact figure to calm my anxieties,please,please !..why won't they give us some figures!!..my cotton wool is really starting to unravel here!"
@Wadogara, the point is not about figures, we know the capacity is 2m by end of may, the point is half-truth after half-truth, their communication is shocking, either dont mention capacity figures or make sure they are accurate and up to date
That is just the margin for pre-production. Margins will naturally be higher but these have not been disclosed and Omega is not at liberty to disclose these
Well that puts that to bed, so higher for future production and no placing.
Imo the moneys already rolling in gla
Pretty solid stuff, dare I say, might be worth a top up. Sorry bed moisteners.
The CEO is out of his depth, his continual pathetic negative and shoddy RNS,s prove that , and then we now have tweeter gate!!!!!!!! The CEO & the BOD are a shambolic disaster when it comes to time frames, PR , and delivering any value, and all of this is at their feet ,their choices , tying themselves up to a soon to be public inquiry as to the actions of the MHRA , procurement ,and cronyism , they are hiding in the warehouse with the so called 2 million capacity tests ,we haven’t a clue !what or who for ! Pathetic , the investors deserve better treatment ,better answers.
@Thinkin..you're right ..we,'the investors' do..you,on the other hand..why are you here again ?
@Computer..or,just believe in your investment,trust your CEO not to be a canniving thief,accept that the UK and the world needs many many millions of LFT's,and comfort yourself with the knowledge that ODX can now manufacture approx. 2million of these,per week..and make way over 18% profit margin on each one.
Wadogara: am here because you pathetic fool am concerned about my hard earned investment ! Missed deadlines, pathetic RNS,s and now f !!! King tweeter be a lemming ,or hide your head in the sand, I won’t I have email Odx , and Walbrook and as always communication as ****e as the public communications ,does that answer your question .
WAD : how many missed deadlines pathetic RNS ,s and bit of tweeter do think are acceptable , ?
It s a shambolic PR disaster ,which is at the feet of the CEO and the BOD , that a fact , first real one in god knows how many months regarding ODX
@Wadogara: Why make comment regards to capacity in more than 20 tweets in the last 3months and many more before that, but when an investor asks for todays capacity refuse the comment as its suddenly a market secret
The CEO and the BOD ,could not give away a £1 for 50p ,they have shown themselves to be that naive , that slow , and communication fools ,with all that in mind would you buy a test manufactured by the so called leading diagnostic,s company that 12 months on have no sales, no orders no contracts ???? a and are now relying on tweeter.
@Thinkin...poor PR doesn't really bother me with this share to be honest.I'm looking ahead,staying here,patiently waiting for what i believe will be HUGE order numbers.Demand for LFT's is outstripping supply,we have a sizeable-to-massive govt contract plus whatever else comes our way.Am happy to see it through to the end game..no need to nitpick,split hairs or dramatise.
Many thanks for posting the responses from Wallbrook.
It is interesting that they feel they can comment on the margin but not on capacity. I will email Wallbrook these responses and copy Finncap asking Wallbrook to confirm the source of info particularly with regards to the margin.
WAD: dramatise! It would make a brilliant drama! ODX the leading Betamax diagnostic company of a soon to be over pandemic ! All due to mis - management - but it would never been seen because, ODX have no idea about PR or promotion .Of what was supposed to be the U.K.,s leading diagnostic,s manufacture , dramatise, Have you read the RNS,s seen CK,s sparkling performances, and to top it all off tweeter ! I will ask bloody questions and continually until they give real answers, negative or positive ,but real cold hard facts.
Or the orders the way it’s going !