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Don't be led or fooled by the small purchase by GC. It's a statement, if you follow my thoughts....
An interesting move by GC. I guess he is both protecting and cementing his negotiation position. Could he take it private so early after a switch to the main market? Maybe its a potential sale and he wants to call the shots?
Yes Bang bang. The dogs bark and the caravan moves on....
I'm a lth and heavily invested, though I`m not a fan of commenting on bb boards, tho I read them. There is quite a lot of truth in JAdam's comments. However, as Tony Blair once said to George Bush... "we are where we are"
Its waiting for phase 3a approval from the guys at Porton Down. Avacta will be also, though probably slightly behind in the queue!
Phase one is finished. Long stop date 1st April. Get with the program.
While the tweet was rather poorly worded and timed I think that someone was right to point out that nothing had changed and in fact the 'second phase' of the contract had indeed not been awarded, as I tried to point out on Friday afternoon, though shot down in flames. I hope the margin is 'net' though again difficult to quantify from the contract as to what costs are included. Lets see. The referal to the deduction to repay Funds is of course related to preproduction monies already paid re phase 1 and to be paid if phase 2 is awarded. Give the factory has been exanded and the gov't equipment installed and the ODX RNS re Mogic last week, it would be silly to think that phase 2 is not extremely near.
My calculations would suggest that its an 18% gross margin (£67.3m). Thats why the DHSC are loaning the equipment, at a nominal £1 rental. Open book contracts are normally used to control the gross margin, leaving you to control other costs. Remember, the gov't use top notch advisors who are well versed in these matters. Notwithstanding, it would be wonderful if the agreed margin was net, though its unlikely. I comment having signed similar contracts in the past! Do we have any other views?
Thanks ODX for the tweet confirming now't has changed. Apologies please from benny_hill & sledgey. Better to read the 129 page contract signed in February. It's a two phased contract and it appears that phase one is near completion (factory expansion, gov't equip installation, tech transfer etc). Preproduction fee paid by DHSC that will be deducted from a set margin going forward in phase two, if awarded. Open book contract with max volumes. One year contract with second year option. Cancellation conditions etc.
Seems to tie in with GAD,s potential £1.1billion contract and Toyota's contract to provide 'engineers' to assist with lft rapid production.
The estimated global capacity for lft production is said to be only c120m per day. There is perhaps huge scope for lft production volume going forward given the world population and demand.
DYOR.
You dont need to be a member here to be an investor.... thousands of investors are not here...
Sorry, it does not mention tender amount... Its headed... A Contract Award Notice.... Value £50m-£374m.....anyway, lets wait and see. If it was for £374m we would be flying upwards...
Its always shown that.... Just an update...
Yes, thats what Im trying to express here folks....
Look at Marcus note.. Link... It has always shown £374m....because thats the max. Wait for the RNS. I'm not a shorter or stupid.... Please read past contract notices.. Its helpful
Hi, no not stupid. I'm a long term substantial' invester...... But I'm just cautious. This is the same award from April, just a different date. I hope its £374m, but the headline (look at it please)?states£50m-£374m.
It could well be that there will be an initial order and an agreement whereby they can call off further orders as and when, depending on how Covid plays out over the 2 years. I would not be at all surprised!
This notice is simplythe old contract award from April, just updated. Still shows the £50m to £374m range... Hold fire!!
I'm not sure... While it suggests £374m the award still shows £50m-£374m under the headline numbers. We need proper confirmation, otherwise this is just a repeat of the earlier award.