RE: ONCE IN A LIFETIME AIM SHARE5 Feb 2021 18:11
Deas999 Ref your 15:15 post today
"This has to mean a new phase has been negotiated as surely promate won’t have have been included in the contract of the previous deal. Therefore the fact it is now out there means a new contract."
++++
PROmate was announced in the 16.11.2020 R&D update RNS.
- I posted the following on 30th Jan:
From 29.09.2020 RNS:
"Under the terms of the contract, which is in two phases, Primerdesign will supply its products to the DHSC for up to six months. Phase one has an initial fixed term of 14 weeks with the potential to extend supply by a further 10 weeks. This first phase of the contract will involve the immediate deployment of 300 PCR instruments, related kits and support services with a minimum value of £150 million for the first 14 weeks. Based on this initial period, a further £100 million of revenue could be expected for the subsequent 10 weeks, however volumes can be varied up or down subject to certain notice criteria given by the DHSC.
The second phase of the contract, which is optional by the DHSC, allows for the provision of up to 700 additional PCR instruments, related kits and support services, as well as additional COVID-19 products from the Company's portfolio where required. "
+++
Phase 2 stated 'as well as additional COVID-19 products from the Company's portfolio where required' but not phase 1.
I'm sure GM would have offered new products from the Company's portfolio (PROmate), if it assists to get phase 2 signed.
+++
The above shows a way NCYT could be honouring the contract by providing 'additional COVID-19 products from the Company's portfolio where required', if phase 2 had been agreed.
Wouldn't it be just like GM to put this into the contract because he knew new products might become available in the timescales envisaged within this contract?