George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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I guess the danger would be it doesn’t get voted through (we don’t know view of Myers etc) and price falls back to or below 0.002 again).
NIPT: all trades being bought up at -10% premium so money to be made for just holding?
What does time frame will shares transition if all agreed which looks to me the deal was done long ago!!
After all is said and done, this was just another Vialogy Strung out with promise and mismanagement and then Hung Out!
What was BGF average then?
Yup, I suspect the pie is baked in.
Hopefully he will get his due karma for misleading and incompetant management. A Lessor didn't help shareholders much then!
Absolutely Twix what an outcome for Lyn.
Massive volume of sells showing up now - surely only reason for selling is if you believe takeover won’t go through and price will drop back? Why sell otherwise at 0.0046 when you should get over 0.0052 if it goes through?
Commenting on the Acquisition, Lyn Rees, Chief Executive Officer of Yourgene, said:
"The Board of Yourgene welcome the offer from Novacyt UK. The prospect and scale of what the new enlarged group could bring to our customers, employees and other stakeholders is exciting given the complimentary fit of both businesses. Whilst the two companies work within the same molecular diagnostic space, they both bring distinctive strengths and are focused in different market segments, which opens up further opportunities for growth."
That Lyn Rees is a real *****
mentions customers, employees and other stakeholders. All bar shareholders who get sold out for less than 1 X Earnings!!
Galling but he's off to sweat the assets having ensured he took care of his own financial situation with his engineered average price!
We absolutely need a better offer to appear but with his future role at Novacyte secured he has no carrot
Then deleted.
Shows a buy of 11.5M shares at nearly .0077p
Google showing SP at .77p! No idea why.
We can only hope! To get nowhere near 1x revenue is appalling! Is there no end to their incompetence?
Maybe there will be another offer?
Like to know why BGF have gone with it? Can't remember how much underwater they are.
Like water off a duck's back for the likes of him. Won't lose any sleep will he?
Well there we have it LR's master plan, grind your company into the ground load up on bargain bucket shares to cover your own personal loss, which btw was a result of your own utter and complete incompetence. What an absolute snake, the fact that he has remained in place since the disgusting share dilution and has now been allowed to salvage his own losses is despicable. I really hope somebody somewhere gets an opportunity to sound him out in a public forum.
Nyct cash position at 31 December 2022 was £87.0m (2021: £101.7m) and the Company remains debt free!!
https://www.lse.co.uk/rns/NCYT/final-results-e03byqsl3ra9suh.html
So, if we get another bidder there is a high chance we get a better deal than what is on the table!!
Ambry rely on ygen for their Nipt offering so would need assurances of supply. As for 5p, well you might as well say £5 because neither will happen.
IMO it's not about assuring supplies as they are not anyway that big at the moment but if i believe in the ranger tech and company is selling for pennies to the dollar then why not buy the whole company and secure patent rights, etc
imv 5p+ should be the realistic take over price. 0.522p is way way too low - it's like kick in the teeth for long term shareholders!!
Opt. BGF are well connected and would have been sited on this from Leeser. So if there was a another bidder they might have have had vision all along and been waiting patiently???
I guess the likes of Ambry have been assured that nothing will change to supply and continuation is guaranteed, then no need to make an offer. Needs Labcorp to enter the fray.
To get to 75% more investors need to be onboard and most of them are in loss. I think there will be an Institutional Investor bid coming our way considering value of Ranger tech and its benefits
Lol remember the capital markets day around this time last year I think - we had a whole section on takeovers and valuations; up to 10 times revenue wasn’t it?
Absolutely shafted long term shareholders here. Will be taking a massive loss and would have considered going into nyct but with Lyn moving over along with all the usual suspects it is not so appealing.
Would obviously be good if we had other bidders but realistically it’s not going to end up with offers in the region of 1p+ is it.
It’s of little consequence now but on 31 March we had £2.8m - as of 26 June we had £1.88 so cash burn had reduced. With the Taiwan money looks like the cash runway extended into the new year.
Well it's been accepted by 26% so far . But yes I get your point.
Davand, officially it's an offer only, its not been accepted until they get 75% of the vote.