Member Info for B2HS2L

From RND: 24.02.2021 - R&D update concerning COVID-HT Direct :

"Launch of CE Mark COVID-HT Direct
Novacyt announces the launch of its next generation high-throughput PCR test for COVID-19 (COVID-HT Direct), which has been CE Mark approved. This follows the launch of the Company's first high-throughput PCR test for COVID-19 (COVID-HT) in June 2020. The new test eliminates the need for automated extraction systems in a high-volume PCR laboratory, reducing processing time, cost and labour of testing by up to 30%. COVID-HT Direct is already in use at one of the UK's Lighthouse laboratories [was in use at Cambridge] and is being validated for use with private high-throughput PCR laboratory partners."
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No reasons IMO why the private high-throughput PCR laboratory partners would not be just as interested,
if not more so, in the 3G HT product.

source https://novacyt.com/aim-rule-26/#aim-takeover

"The Company is not subject to the UK City Code on Takeovers and Mergers. However, French law contains provisions relating to takeovers of certain companies, including the Company.

The General Regulation of the Autorité Des Marchés Financiers of France (the AMF) applies to the Company, as it is a public limited company whose shares were first admitted to trading on Euronext Growth Paris, if an acquisition of shares in such a company were to increase the aggregate holding of the acquirer and its concert parties to interests in shares carrying 50 per cent. or more of the share capital or voting rights in the company, the acquirer and its concert parties would be required (except with the consent of the AMF) to make a cash offer for the outstanding shares at a price not less than the highest price paid for the shares by the acquirer or its concert parties during the previous twelve months."

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I hope this clarifies a few things for some.

Yes thanks, looked at your reference. However, the exsig direct assay is not high throughput.
The IFU states "Specimen test results are available to interpret in under 2 hours"

From the redacted contract:

7 Goods and Services to be Supplied (Pages 2/3)

The Supplier shall provide the following Goods & Services:
Instruments:
• q16 Rapid-PCR instrument platforms
• q32 Rapid-PCR instrument platforms

Reagent kits
exsig COVID-19 direct kits for the initial 14 weeks.
genesig SARS-COV-2 Winterplex kits for the initial 14 weeks.
N.B. No mention of COVID-HT yet, however
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Optional Goods and Services (pages 5/6)
During phase 2 of the Contract, the Authority will have the option (subject to internal
governance and approvals, and the Supplier having met the KPIs) to purchase the
following Goods and Services on the same terms as outlined above, subject to the
Parties agreeing new minimum volumes and the delivery schedule. The minimum
volume adjustment mechanism as outlined above shall also apply:
• Up to ? q16 Rapid-PCR instrument platforms
• Up to ? q32 Rapid-PCR instrument platforms
• Training & annual examination/recertification services, maintenance services & expert field support
• Further weekly supply of the below Reagent Kits:
o Exsig™ COVID-19 Direct
o Genesig®-HT
o Genesig® Winterplex
o Genesig® COVID-19 (CE IVD) qPCR
o Genesig® exsig Mag

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Covid HT is the only High throughput assay in the above lists.

"Conclusion, the only product that fits the times and the scales is Exsig as it it high throughput"

http://primerdesign.co.uk/exsig/files/Path-exsig-COVID-19%20Direct-CE-STED%20IFU%20Issue%202.01.pdf

Z-exsig™COVID-19 direct

96 tests.

Page 6:
"Specimen test results are available to interpret in under 2 hours using the exsig® COVID-19 Direct (CE
IVD) assay. This time includes the processing of the swab sample, the PCR set-up and the PCR run
time."

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This is not an HT product (which are sold with 1536 tests per kit)

Wilson, Deas -

https://www.genesig.com/assets/files/path_covid_19_ht_3g_ce_sted_ifu_issue_1_00.pdf - Catalogue no: D00062, IFU image on twitter dated 01.07.2021.

So not one of the future products mentioned.

Deas,

I fear it was one of the new products they mentioned, though it's clear now no RNS will herald the arrival of some new products.

Requested date at footer, so we will know if it's a new product or not.

I have not read DH's long and windy post.
Reading his prior postings on Telegram, things didn't often enough come to pass, so he is not a good soothsayer.
He is a desperate man.
He is well researched, but has left the Telegram group.
There aren't many more bb's on which to expound his nonsense, and if he loses further credibility here, he will be able to post all day and have no-one really listening, and that is what would hurt most.

Happy to listen posters discuss why they voted in the way they already have.

Urraca got it right when he said you push fake news, that was your style in the past.

Be gone Hank Dallas and take your piffle with you.

Part 2

ARTICLES OF ASSOCIATION -
UPDATED BY MEANS OF A DECISION FROM THE GENERAL MANAGER OF 3 JUNE 2020
source:
https://novacyt.com/wp-content/uploads/2020/09/NVT-SOC-statuts-a%CC%80-jour-2020-06-03_ENG.pdf

Having word searched this document for 'shareholder', none of the 47 occurrences on the 15 pages refer to "an opt-out clause in its article of association, granting ***shareholders*** the right to approve any anti-takeover measures, or qualifies the proposed authority to the effect that it cannot be used as an anti-takeover device without further shareholder approval."

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It is clear the board can take frustrating action (such as issuing new shares or to repurchase and reissue shares) without prior shareholder approval under French law 2014-384 of 29 March 2014.

So I am unclear about the motive behind EGM resolutions 19 to 24?

Having real problems posting so this in two parts:
Part 1

source https://www.glasslewis.com/wp-content/uploads/2017/01/Guidelines_France.pdf
"These guidelines are intended to supplement Glass Lewis’ Continental Europe Policy Guidelines by highlighting the key policies that we apply specifically to companies listed in France and the relevant regulatory background to which French companies are subject, where they differ from Europe as a whole."

Page 18 refers
ANTI-TAKEOVER DEVICES
In 2014, the French parliament passed law 2014-384 of 29 March 2014 (“loi Florange”), reversing the board neutrality principle introduced into French law in 2006.
Following implementation of the law, French boards are able to take frustrating action during a takeover bid without seeking prior shareholder approval.
As a result, any authority to issue new shares or to repurchase and reissue shares can be used as a takeover defence unless the company adopts an opt-out clause in its article of association, granting shareholders the right to
approve any anti-takeover measures, or qualifies the proposed authority to the effect that it cannot be used
as an anti-takeover device without further shareholder approval.
We will generally recommend that shareholders vote against authorities to repurchase shares or to issue shares
or convertible debt instruments when they can be used as a takeover defence without shareholder approval.
We will not apply this policy to a company with a shareholder who controls more than 50% of its voting rights.

This is text

chrisdr2 -

You are entitled to your opinion of course.

If we weren't subjected so often to Porky's repetitive rampy posts, - messages augmented by similar posts under a separate identity, it would not cause people like me to take exception to the glossing over of the full set of dispute outcome possibilities, because of the coming of the fix all messiah.

Porky9 - 19:01 last evening:

"Moving forwards, the good news is that David is joining 18.10 I have every confidence he can turn this around. Once the Dispute is resolved frankly it will be like a massive weight is lifted from our neck and we can march into 2022 driving this forward."

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Just because the Novacyt team have a new batsman (DA), it does not mean the dispute changes.
The DHSC team sheet might change occasionally but their cause has not been lost - yet.

1 IMO the ADR process should have ended by now, but NCYT is trading with DHSC despite non-repayment of the disputed funds. As ADR has possibly finished, both parties are living with the standoff - for now, -
and possibly for a while yet.

2 IF ADR has ended, what are the options:
a NCYT write off the losses, - ending their interest in being paid what DHSC owe.
b NCYT preparing to take DHSC to court
c One or both parties interested in some other form of settlement, that could already be the basis for the company recommencing trading with DHSC.

3 DHSC may be lumping NCYT dispute in with other suppliers disputes, - so resolution for everyone eventually.

4 DHSC may be lumping NCYT dispute in with other supplier disputes, - who might later decide to collectively take DHSC to court.

5 NCYT could take DHSC to court, because the dispute is not similar to other suppliers disputes with DHSC.
- But the timing is not right for whatever reason.

6 DHSC takes NCYT to court over as yet unspecified contractual issues.

Of course other options are available.

If the new CEO's view on the dispute differs from the Chairman's view, and/or Nick Plummer's view, (General Counsel and Company Secretary) how does that affect the way forward?
- Only the chairman was in the company when the dispute occurred.
All we know is "the Company has taken legal advice and believes it has strong grounds to assert its contractual rights."

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Porky, - as you know, a lot of what can be done to end this dispute is not wholly in the gift of the new CEO.
A fresh CEO (with no experience) will not necessarily herald the end of the dispute.

If I were AD I would leave the dispute with the Chairman and Nick Plummer, and accept whatever will be will be, because there are so many global trading opportunities available, (which definitely are the CEO's direct responsibility), and urgently need immediate attention.
But you knew all this.
You just want to encourage new investment on this bb, by encouraging others to believe resolution must come soon, and hoping AD's appointment goes a long way to solving the dispute.

The dispute will be done when it's done.
Option 2c allows for dispute closure being in process.

Soder -
"So why do we doubt ourselves and our investment in Novacyt? There is only one reason: the daily irrational manipulated fast money moves in the share price. If you are able to look past this (it’s not easy) deep down, you know you will make money. You know that this company will be a winner in a post covid diagnostics world."
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It is no longer the aim to short this share because it has already fallen far enough, and MCAP will = cash at bank the way things are going, (ie no room to fall further).

- Those who have an interest in pushing this share price down now, are amongst those who intend to be onboard before the DHSC dispute ends. They are in the process of compressing the spring, which will be released by news of dispute ending,
and are purchasing shares on the way down IMO.

Soder, -
I tend to take a similar viewpoint. However

"You know that this company will be a winner in a post covid diagnostics world."

I don't agree we will have to wait that long, - I would say

You know that this company will be a winner post DHSC settlement, however it ends.

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Before June / July last year, GM gave updates about who our new manufacturing partners were / where our larger markets were etc.

After then, we found that the company were not willing to update on smaller contract wins, only wishing to update on larger contracts, - which was code for only DHSC contract announcements.

So a sea change from openness to silence.

If we get silence (other than the AGM info) between October 18th and end of November, we will know AD has been told the modus Operandi is to be maintained, because - you may have noticed, - Marketing / Sales people cannot stay quiet for long.

Looking forward to some positive changes after AD arrives.

4. Since the dispute we have been forced to spread our sales further across several geographies thereby diluting risk.

We had global distributor representation before the Pandemic.
We are developing a direct US sales force because we know where the honey pot is, and our US distributors, although successful, (else they would have ditched Primerdesign), need to be augmented with direct sales to push sales to a much higher level.

I guess I'm not happy with 'Forced to'.

I disagree risehall, I think the board were expecting the AGM not to be quorate, as per post 29 Sep 2021 20:50.
I agree they still expect to be able to treat PI's like muppets

SYN00GOLD - further to your post.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5024796/#:~:text=Ethically%2C%20clinical%20trials%20must%20sometimes,%2C%20benefit%2C%20and%20futility%20concerns.

Ethically, clinical trials must sometimes be stopped early when the results show no justification for exposing human subjects to additional potential risk by continuing the trial.

The 3 ethics scenarios are based on safety, benefit, and futility concerns.

1.
Safety: The risks to human subjects unexpectedly outweigh the benefits because of unexpected severe adverse events. When the institutional review board (IRB) approves a trial, it has determined that it meets US Food and Drug Administration (FDA) criteria for IRB approval at 21 CFR 56.111. Section (a)(2) states: “Risks to subjects are reasonable in relation to anticipated benefits, if any, to subjects, and the importance of the knowledge that may reasonably be expected to result.”11 This determination changes when a study unexpectedly causes serious illness or death in human subjects. The study may then be suspended by the FDA, the sponsor, and/or the IRB until the risk-benefit ratio is reevaluated. An example is drug manufacturer Bial's phase 1 clinical trial in healthy volunteers.12

2.
Benefit: The study hypothesis is unexpectedly proven early within predesignated criteria. Continuing to expose subjects in the inferior arm to additional potential risks or keeping them from benefitting from the therapies in the superior arm is hard to justify ethically. An example is the SPRINT study discussed above.

3.
Futility: The study hypothesis is unexpectedly shown to be unprovable within the constraints of the trial based on a statistical analysis of early study data, usually done at a planned interim analysis. In such cases, there is no benefit to balance against subjecting subjects to potential risks. An example is the cessation of the Verastem VX-6063 phase 2 clinical trial.
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It seems that finding the predefined rules set up by the Data Monitoring Committee (DMC) for stopping a trial for benefit are key here. Not sure if they are made publicaly available.

I recall that 3 patients died taking placebo in ph2 trials.

My attention has been given to other investments recently.
My question is, are mutogenic drugs in use for interrupting the natural reproduction process of other viruses within the human body, or will Molnupiravir be the first in human if approved please?

https://mobile.twitter.com/i/events/1443913837451759617

India has imposed new rules on UK nationals arriving in the country, regardless of their vaccination status
From October 4, all British nationals arriving in India from the UK will be required to take a pre-departure RT-PRC test within 72 hours prior to travelling, as well as subsequent tests on arrival at the airport and on day eight after their arrival. UK nationals will also be required to undertake a mandatory quarantine at home or in the destination address for 10 days. The new rules apply irrespective of having had both doses of the COVID-19 vaccine. The news comes after the UK government categorised Indians who received the Covishield vaccine as "unvaccinated", a decision the UK later reversed.

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I feel more restrictive criteria for UK travellers will be adopted elsewhere if UK trends continue to climb.

Agreed Poidster.
Come 18th October DA will be aiming an Exocet missile at the Marketing Dept, creating his very own Brown field site where he can build a Marketing dept. he can be proud of. - Stand by for Marketing vacancies, and DA's head hunted top men.

Kevin Crittenton must be seething, - not the way to support a USA Direct sales team.

"Does their marketing have a budget" - Well more money will definitely be aimed at marketing from now on.