Member Info for BabyHuey

Dazzer, Thinking this guy is KC for the HMG.

". There are also issues turning on the meaning and effect of provisions in the Sale of Goods Act 1979."

Sale of Goods Act isn't referred to in the contract to my knowledge, some one is introducing that argument and I doubt it's NCYT.

Thanks for posting Poidster. Is this bit new or is it just rearranged words "The dispute concerns the meaning and effect of a “limited warranty” in the agreement and whether the rejection of certain of the test kits was valid. There are also issues turning on the meaning and effect of provisions in the Sale of Goods Act 1979." if it's new do you have an opinion.
I'm wondering if the wording for the limited warranty and the provisions in the SoG Act are a standard text/format in pharma contracts or individual in each contract.

Dazzer good find, thanks for posting

but the shareholders are revolting, and the BoD are worse

Link?

I'm sure they're charging PI, but it is a dog bites man story, it would be a news if a man bite a dog or we found out WHO wasn't a client or a rare good news story if NCYT had a major share of WHO business, but just selling some stuff to a big client is a nothing burger.

No PI it's a company that got a tremendous opportunity with covid, and they could have exploited it and built on it a lot better, but in fairness there are reasonable excuses for not achieving more. What a company like NCYT does is simply a process, developing tests they believe will have commercial success. I read loads a rubbish on here about brilliant r&d, demanding the science staff be paid top dollar, the next CEO should be a scientist etc. that is all uninformed rubbish. If you have the cash anyone can do what NCYT does, it really is just an everyday process to develop and sell tests, no magic, no special skills, no great brains.

Basically everything is in place, all you need is the tests, a business operation and a market, and someone to drive everything forward. But tbh I think at the moment it needs a T/O or a SH movement to bump start the BoD

PI they have trimmed overhead costs to match revenue (as much as poss) which is good, however, most businesses would then implement a plan for growth, it'll be a hard sell if the plan is for organic growth coming of such a low base. JMcC is an accountant they're conservative by nature so it's likely his focus is simply to preserve cash. Fine, it keeps the company safe but those this BoD have any appetite attacking the market in the future or will there always be an excuse for not investing

Dunno the reason for no new ceo, and you may be right re the dispute meaning it's JMcC as interim till then. Not sure I want an accountant running the show, the cost cutting is done so I think a business person and man manager is needed to guide NCYT back from this place, deal with the toxic culture, get the basics sorted a proper website and ecomm solution, get a focus and drive the business forward.

Pragmatism PI, I dunno the process but DA was hired, DA was given an opportunity to perform, DA failed, DA went. It's a fairly normal cycle. But time and space, if we like it or not, must be given in these situations.

Because, sacking DA doesn't fix things, it just means you start looking for someone else to do the job, and no-one knows if the next person will actually preform better. That is the price of sacking DA, so that is why it was important that he was given a chance.

As for the salary increases I suspect that the remuneration committee looked at directors salaries in similar companies and calculated fair salaries for their directors. It's normal but cheeky as they than made loads of redundancies and shrank the business.

PI that is how I understand a lifestyle business, but that is impossible with a plc because the company is owned by shareholders who vote thro BoD appointments and pay rises, the BoD at trading updates and AGMs need to explain what they have achieved and expect to achieve. plc bod's are managed by their shareholders, they can't hide for long. seriously there are no lifestyle plc's. Granted there are bad BoDs who get away with bad decisions, often for long periods, but it's not intentional, they're just the wrong people in charge.

Swag, I see the 'lifestyle companies' bandied about on here but yet to find one. Or indeed work out how a plc could be one. When I first heard the term years ago it referred to a small private company that wasn't run as a persons main job rather it provided an income that improved their lifestyle on top of what their main job provided. That makes sense to me, but I can't figure out what people are meaning with the 'lifestyle' company on here, it seems silly and fundamentally impossible for a plc. Can someone explain

Swag yes he did all that but he also damaged his career. Guessing it'll be difficult explaining this role at interview. Always said he looked isolated and unsupported by the BoD and management.
In hindsight the big mistake was leaving the redundancies until the end. Once he found out about the toxic work environment he should have acted and then hired new staff to grow the business and not rely on unhappy employees

poor DA, don't think he would have got the job in normal times, did he blow the opportunity, dunno, it seems to a business with issues so the deck was probably stacked against him from day one.

look, you can have a new ceo follow someone else's strategy, a business can shape the ceo role anyway they want but how much responsibility can a ceo take for success or failure if they are being led by the bod instead of leading.

it's just clickbait Poidster, he's repeating what others already posted to start another thread. If he ain't deleting your posts he's baiting you to post.

seriously JW is chairman, he only does chairman stuff, not involved in m&a or finance, judge him on doing his actual job not other directors jobs. GM done quite well in raising finance to build lab21 up to going public with it's reverse t/o of novacyt, which incidentally was his job as he was ceo.

You're quoting DA's strategy, he left 6 months ago. New CEO will have a new strategy and focus may be the same or not. Either way you can't expect the BoD to implement a strategy that was overseen by someone who then left under a cloud.

JMcC has a great CV but he has no exp of small cap leadership or business, a safe pair of hands as interim but NCYT needs an experienced small cap CEO from a sales background

Believe the series of regular buys are mm's portfolio housekeeping and any movement these days is down to market turmoil NCYT is just bobbing along

And in Ireland we bought ten times the number of ventilators we needed. £14m worth that didn't work were from a bloke who ran children's parties as a business

apparently talking to yourself is a sign of madness. so we haven't learnt anything new from this thread. except it takes you ages to compose a post, a whole hour to construct the 2nd one. what a waste of a life. i went to a football game, it rained, we lost, but i was out, met people, did something, it was fun. you spent the day here. sad.