Member Info for ak_gabba

The management report states
https://novacyt.com/financial-reports/

"In the UK, we are continuing to expand our installed base at NHS hospitals with approximately 40 sites now running q16 or q32 instruments with the new PROmate™ test. Demand for COVID-19 testing through these hospitals is low at present based on low infection / testing rates but we believe this installed base will be a key long-term asset moving forwards and an opportunity for Novacyt to expand its test menu for additional diseases."

I'm unsure if that means the 170 Qs which were delivered are just spread across those sites. Not sure how many Qs each site will be using.

9th April 2021 Trading Update

https://www.lse.co.uk/rns/NCYT/trading-update-74tpjo9hz25buh8.html

“Unfortunately, an extension has not been agreed, although the Company supplied PROmate™ in Q1 2021 in accordance with DHSC demand”

Note the word demand.

It is my interpretation that there have been usage issues with the pre PROmate tests and this could well be what the dispute is about.

The FOI request that was submitted by Mr Seefeldt has been responded to

https://www.whatdotheyknow.com/request/725905/response/1810656/attach/3/FOI%201303649.pdf?cookie_passthrough=1

With a note saying the information is based on the date of the request 9/2/21. More machines may well have been delivered.

There certainly hasn't been any further invoices noted within the DHSC spend over £25k reports with the latest information for May 2021 being recently released.

I'm hopeful that more machines have been delivered and are being used for PROmate and other tests but i don't have any information on that.

First of all many thanks B2HS2L for your efforts and information supplied here!
I posted this a while ago but placing it again here as it's information that i have stitched together which may or may not be part of the dispute. As always please do your own research :)

Launch of PROmate announced 16th Nov 2020

https://www.lse.co.uk/rns/NCYT/rd-update-z33m1gapau1iph7.html

“Launch of PROmate™
PROmate™ is a new CE Mark approved product designed to further improve the workflow efficiency of COVID-19 testing when used in combination with the Company's q16 and q32 instruments. The reagents involved in the Company's COVID-19 RNA extraction and PCR test products have been repackaged, with some reagents also freeze-dried, to reduce the amount of consumables and the number of steps required, thereby reducing operator complexity and improving cycle times. In addition, PROmate™ uses a viral inactivation methodology validated by Public Health England for potential use outside of laboratory environments.”
I have spotted tweets after this date from lab staff who were having issues. This would have been before the TVG report and may well have required the TVG to be involved.

29th Jan Trading Update

https://www.lse.co.uk/rns/NCYT/full-year-2020-trading-update-6ysk8nfjt25lfvw.html

“In addition, the Company continues to support the DHSC and the NHS following the deployment of its rapid PCR testing system, for the contract with the DHSC, announced on 29 September 2020, and the Company is in active discussions with the DHSC to extend this phase of the contract. Novacyt's PROmate™, a new product to improve the workflow efficiency when used with the Company's q16/q32 instruments successfully completed an in-service validation conducted by Test and Trace's Technology Validation Group (TVG), with the TVG concluding the performance of the PROmate™ aligns with the acceptable standard for point-of-care (rapid testing).”

Feb 2021 TVG report

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/957995/TVG_Report-PROmate.pdf

4th Feb 2021 government briefing (updates listed as 3rd Feb 6.43pm)

https://www.stcuthbertout-pc.gov.uk/uploads/govuk-daily-briefing-4th-february-2021.pdf

Note the summary of one of the updates.

“Assessment and procurement of coronavirus (COVID-19) tests
Page summary: How the government assesses offers of COVID-19 tests from developers for procurement and use in the UK.”

The TVG report has a publish date of February 2021 however it was referenced in an RNS on 29th Jan.

24th Feb 2021 R&D update

https://www.lse.co.uk/rns/NCYT/research-and-development-update-7iu0u64rk16dtin.html

“Of note, following its launch, our PROmate™ test has been well received by users and opens up new opportunities for rapid PCR testing, including in private testing markets”

The above statement is very encouraging considering the tweets from November.

eurofins hursley doesn't have anything to do with covid testing.

https://www.emctesting.co.uk/aboutus

The novacyt group UK office + lab21 healthcare +microgen bioproducts site is listed as

Unit 1
Watchmoor Point
Watchmoor Road
Camberley
Surrey
GU15 3AD

https://novacyt.com/contact-us/

The eurofins site in Camberley is eurofins biopharma product testing (GMP testing).

https://www.eurofins.com/biopharma-services/product-testing/about-us/

Philip,

It's explained in their about us section of their website.

https://www.eurofins-technologies.com/about-us.html

Thanks B2HS2L

This from what you posted (redacted contract)

"Supplier’s maximum liability with any Authority claim under this warranty shall be to replace the faulty Goods
free of charge or refund to the Authority the full costs for such faulty Goods paid by the
Authority to the Supplier if replacement is not possible"

Do they have their gmail email address? That seems to be the way to get contracts ;-)

Valju,

Reported £8,204,196 as part of the long term incentive plan for GM. 1/3 paid in 2020 with 1/3 to be paid in 2021 and the final 1/3 to be paid in 2022.

He received £2,734,732 in 2020 although he did take a 23% voluntary decrease and some of the reduction will be used for the company charitable donation program. I'm unsure if the 23% reduction is for the overall LTIP or just the first payment i'm also unsure if the figure given is pre or post 23% reduction.

He bought 9493 shares @£3.10 per share £29,428.30
He bought 60875 shares @£8.17 per share £497,348,75

When adding up the remuneration for GM since 2017 it is reported in the accounts as being a total of £10,104,344. Currently he has received £4,634,880 with £2,734,732 deferred to 2021 and £2,734,732 deferred to 2022.

Neilrich3,
I'm in agreement with you. I don't think they can buy right now due to the details of the on-going dispute with the DHSC.

bubblgum, I was also booted at the start of the year. I asked on here as to why but nobody responded. I was talking about LFTs at the time.

Nicksmith123,

The overcome limits statement is a standard statement and can be found in the previous management updates.

I also pick up on the confidence in over coming the dispute and very much hope it's closer than we think. as per their statements if no settlement is achieved then it's looking like legal action.

The formatting went wrong there. I'll try again

Financial reports can be found here

https://novacyt.com/financial-reports/

Specifically the management report can be found here

https://novacyt.com/wp-content/uploads/2021/06/Novacyt-2020-Management-Report.pdf

• 2.4 Foreseeable change in the Company’s position and future prospects
• 2.8 Main risks and uncertainties facing the Company and management of financial risks
• 2.9 Significant events occurring between the reporting date and the date of this report

Caught my eye.

Financial reports can be found herehttps://novacyt.com/financial-reports/Specifically the management report can be found herehttps://novacyt.com/wp-content/uploads/2021/06/Novacyt-2020-Management-Report.pdf• 2.4 Foreseeable change in the Company’s position and future prospects • 2.8 Main risks and uncertainties facing the Company and management of financial risks • 2.9 Significant events occurring between the reporting date and the date of this report Caught my eye.

MisterETrayda (like the name)

It doesn't contain the information i was looking for. There was an early settlement for the loan with vatel that resulted in them gaining shares as per

https://www.lse.co.uk/rns/NCYT/early-settlement-of-term-loan-el6d4d00e4r2pfv.html

I was wondering if there was any information which anyone has to suggest if they have been selling those shares after 31st Mar 2021

Does anyone know how many shares Vatel still have? I know they had just over a million shares available to sell after 31st March 2021. Not sure if they still hold them.
They also have 1.1 million shares available to be sold after 31st Dec 2021.

wilson, in spring/summer 2020 yes however i think some companies don't shout about covid as much and are getting on with things. their new normal kind of thing

Wilson, they only need to RNS if they think it will have a material impact on their revenue/profit/share price

It's possible that there are listed companies that feel it wasn't relevant to announce in that manner

my guess at the other 3 companies would be.... roche, abbott and thermo fisher

just a guess

RBMinvest, DHSC have reported more than £1.8b spend on Innova up to end of April 21

Docker68,

I think it's notices over 12 months and unique titles

it fits in for primerdesign

https://bidstats.uk/analysis/suppliers/primer-design

no worries Wilson63, thanks for clarifying :)