Member Info for B2HS2L

I don't think it's a negative Fonzey.

I think the way things are going, Biosynex will want a place on the board first, then we will see if they continue to buy.
How much they have to buy to get. place on the board is another matter.
Perhaps they already know though.

I shall be advising Tim Jenkins of the fact that approaching the Compliance Officer of S.P.Angel with my concerns was suggested by Tim Ward, Chief Executive of the Quoted Companies Alliance.

Source: Page 46 of Novacyt Annual Report 2021 -

The Novacyt board have adopted the 2018 Quoted Companies Alliance Corporate Governance Code as the basis of the Group’s governance framework.

+++
That should assure Tim Jenkins the person emailing him has done some homework, and not likely to be fobbed off easily.

Here's the email address to send Novacyt shareholder communications issues to -

S.P. Angel Compliance Officer - Tim.Jenkins@spangel.co.uk

If you could indicate (at a later date) whether you were successful in contacting Novacyt board using the NOMAD, that would be great.
I'm sure we'd like to know whether we have been wasting our time, / Novacyt stone walling NOMAD / NOMAD not interested etc.

If that is their preference Saintsmith, but they may not want their questions aired in public.
I have requested S.P. Angel provide the email address of the 'compliance officer', or 'head of corporate affairs', and will advise when they respond.

Morning ValJu.

I got the information I was looking for from Tim Ward, as per previous posts yesterday.

Tim advised that assistance with shareholder communications issues MIGHT be available from the NOMAD (S.P. Angel), and the best person to discuss any issues is the 'compliance officer', or 'head of corporate affairs'.
Assistance enquiries are placed on record and available to view by those parties ensuring compliance during reviews, so SP Angel can show how the issue was dealt with.

I shall be grouping the issues posted by Monday morning 14th March.

I know Mr Mott well...

He can't get share holder information in sufficient quantities either...

So I suggest for those who have specific issues with shareholder communications to put that complaint into writing in as much detail as possible under this thread, and I'll bundle it up and post to S.P. Angel en masse.
It is unclear whether the NOMAD will discuss these issues with Novacyt, but I guess it depends on the severity of each issue.
NOMAD's don't like to rock the boat too much, but it seems they have a compliance audit to navigate each year.

I'll bundle the issues posted by Monday morning 14th March, - the weekend may or may not be a better time to post.. or if you prefer you can approach SP Angel yourselves ;o)

A quick update to this thread follows.
I spoke to Tim Ward Chief Executive of the QCA today, who kindly explained that the Quoted Companies Alliance Corporate Governance Code is available to all companies to implement as required. They do not state that only QCA members can use the code. 90% of AIM companies use this code, and the majority have become QCA members.

From the QCA website
Corporate Governance Code (2018)
Corporate Governance
Our Corporate Governance Code (2018) is a practical, outcome-oriented approach to corporate governance that is tailored for small and mid-size companies. It is a valuable reference for growing companies wishing to follow good governance practice.
This new and updated version of the Code includes 10 corporate governance principles that companies should follow, and step-by-step guidance on how to effectively apply these principles.
The revision of the QCA Code is especially relevant in that London Stock Exchange has changed the AIM rules so that all AIM companies are required to apply a recognised corporate governance code and explain how they do so since September 2018. Members receive an additional download with the code, containing further guidance on application of the ten corporate governance principles. (Novacyt are not members so won't have received this).

Tim stated that the 10 governance principles would be dealt with within that part of the company website that dealt with AIM Rule 26.
Ours is here: https://novacyt.com/aim-rule-26/#aim-governance
The ten principles and how they are brought into effect by Novacyt are discussed on the above link.
Searching on 'shareholder' will highlight the areas directly applicable to shareholders.

Shareholder communications is not dealt with specifically but generally, by performing the above 'shareholder' search.

Tim advised that assistance with shareholder communications issues MIGHT be available from the NOMAD (S.P. Angel), and the best person to discuss any issues is the 'compliance officer', or 'head of corporate affairs'.
Assistance enquiries are placed on record and available to view by those parties ensuring compliance during reviews, so SP Angel can show how the issue was dealt with.

So it seems an email to SP Angel is now in order.

https://uk.investing.com/news/commodities-news/britain-will-step-up-oil-production-after-russian-import-phase-out--minister-2601147

!!

https://www.theqca.com/about-us/members-directory/

The last laugh -

Novacyt has no membership of the QCA.

They have only adopted the 2018 Quoted Companies Alliance Corporate Governance Code as the basis of the Group’s governance framework.

I will be advising the QCA soonest.

On second thoughts - please advise whoever you decide to email, that the brand new CEO allowed himself a 100 day "holistic review of the business", subsequently providing "preliminary findings", (- source 25.01.RNS) without introducing himself and omitted to mention this review to shareholders.
No wonder shareholders thought he had gone walk about in the outback, and been swallowed by a Dingo.
Sorry, that's just a) stupid, b) rude.

Broadly in agreement with what you suggest Saintsmith.

However, if it does come to pass that Novacyt get a visit, or even a call from TQCA, I don't want them to have had the opportunity to rehearse their responses, from any communication that I provided.
I believe everyone should take whatever action they can to get assistance with bringing this problem to light and encouraging the board not to take PI's for granted.

I'm confident the issue about not providing, and having no intention of providing, a French translation of the CEO's first video will have the desired effect within TQCA.

We'll see if one arrives soon now though.

Don't let the bastards grind you down

Thanks Saintsmith.

The email address I used:

Ruby Halabi
Communications Executive, The Quoted Companies Alliance
E: ruby.halabi@theqca.com
T: 020 7397 8140

Lets collectively make some noise here.
We may get some action if The Quoted Companies Alliance believes that Novacyt is not paying even lip service to the shareholder communications criteria outlined within "2018 Quoted Companies Alliance Corporate Governance Code".

Having signed up with Hargreaves Lansdown, I have sent them a similar email. I will advise any response re
"could you advise which statutory bodies shareholders can refer to, in order to improve their situation".

Part 2

Two thirds of shareholders are French we are advised.
The new CEO's only video was recently issued with no accompanying translation or subtitles.
When I created a transcript of his statements in English, it was picked up and translated by a French shareholder on a French Bulletin Board (Boursorama).

I emailed the companies customer relations department thus:
"In the spirit of improving share holder communications, for any future company video's / interviews with members of the board, could I request a transcript or subtitle be provided".

The response was "Thank you for your feedback RE the transcript, which is noted, we appreciate you taking the time to post one on the LSE.CO.UK Bulletin Board."

This is no way for an AIM company, to be treating their shareholders.

Despite having £100 Million available in cash, the share price has reduced throughout 2021/2, (yr high 787 p, - yr low 131.25), to a level that makes Mcap lower than cash at bank.

Could you please advise how shareholders can best encourage a return by management to a more normal information flow, - preferably ASAP.

Other than the Quoted Companies Alliance, could you advise which statutory bodies shareholders can refer to, in order to improve their situation please.

Kind Regards

B2HS2L

Part 1

From page 46 of Novacyt Annual Report 2021 -
"Novacyt S.A. is incorporated in France and is listed on Euronext Growth Paris and AIM.
The Directors recognise the value and importance of high standards of corporate governance.
As the Company is traded on AIM, it is not required to comply with the UK Corporate Governance Code.
However, the Board has adopted the 2018 Quoted Companies Alliance Corporate Governance Code (the “QCA Code”) as the basis of the Group’s governance framework."
++++

Will advise any response to this letter:

TO: Communications Executive, The Quoted Companies Alliance

Good Afternoon Ms Halabi.

I seek some advise regarding options available to shareholders, - who's company has adopted the Quoted Companies Alliance Corporate Governance Code, as the basis of the the companies governance framework, - to improve shareholder communications please.

I am invested in Novacyt S.A. - trading on AIM.

From the Novacyt Annual Report 2021 -

"Novacyt S.A. is incorporated in France and is listed on Euronext Growth Paris and AIM.
The Directors recognise the value and importance of high standards of corporate governance.
As the Company is traded on AIM, it is not required to comply with the UK Corporate Governance Code.
However, the Board has adopted the 2018 Quoted Companies Alliance Corporate Governance Code (the “QCA Code”) as the basis of the Group’s governance framework."

The company no longer has major Institutional Investors. However a competitor notified a 4% holding recently.

Currently the company is providing insufficient shareholder communication outside of Annual and Bi-annual reports.
The Board of Directors are clearly not making sufficient attempts to communicate with shareholders (except for Annual and Bi-annual reports), as per the Quoted Companies Alliance Corporate Governance Code.
Many subjects known to shareholders through their individual research, are not being mentioned in these reports or anywhere else.
This makes it very difficult to value the business, or to check progress of projects and initiatives.

Butchersbike -
"With a qpcr base world wide and still selling tests into clinics and hospitals worldwide..
We need the ceo to light the fuse."

I agree with what you say, but I believe we should be using the new CO-Prep fluid handling product to encourage the purchase of q16 and q32 units, thus making the genesig range of assays particularly suitable, (many CE-IVD labelled if we are not mistaken about present R&D focus).

1 When CO-Prep is used with the above instruments it allows staff to set up specimen processing in a way that allows them to attend to other matters.
ie customers lab staff become more productive.

2 CO-Prep is designed to work best with PROmate single pipetting assays, again increasing lab throughput in unit time.

3 When a customer purchases what are some of the cheapest portable instruments available (for their capabilities), that are also suitable for near patient testing, and if necessary outside a cat 2 lab, you will have no problem processing the many genesig assays available in the catalogue.
ie fully automated sample processing for many hundreds of different genesig tests.

4 PROmate is thus far the only direct-to-PCR Covid-19 assay approved by the Department of Health and Social Care's technology validation group.

ie CO-Prep purchase makes it easier to consider IT-IS portable instrument purchase, that process a very large range of assays, including PROmate assays.

++++

I know a good marketing team could do a better job bringing together the above benefits, but the point is that with CO-Prep available soon, the most important part of the jigsaw from the point of view of lab operators will shortly be in place.

https://rollcall.com/2022/03/02/covid-19-subvariants-not-expected-to-slow-progress-against-pandemic/

Physicians are keeping a close eye on BA.2’s progression and its response to other COVID-19 treatments, Rajesh Gandhi, an infectious disease specialist at Massachusetts General Hospital, told reporters at an Infectious Diseases Society of America briefing last week.

Thanks to poster Titania on SNG

kaerens link here:
https://twitter.com/rick_shares/status/1499741489525661700?s=20&t=3_vsSYeSlc4AqkvdQpR9-w
Clicking on the link to the openaccessgovernment document from twitter no longer works.
I read it around 17:30, but now the link does not work.

https://oilprice.com/Energy/Oil-Prices/Oil-Turns-Lower-On-Rumors-Of-Imminent-Iran-Nuclear-Deal.html