Member Info for Computer909

Anyone with concerns over the governments continued use of Innova, based on the contractual inefficiencies and the apparent conflict of interest shown by Andrew Brogan the new company director of Innova UK, and the continued lack of UK support for the UK diagnostics industry is encouraged to write to their own MP detailing their concerns. They should also request that their MP forwards their concerns to Meg Hillier MP, the chairman of the Public Accounts Committee.

@Sledgey121: "The Innova/Sharp thing has been binned off."

Do you have any links you can share?

https://atamis-1928.cloudforce.com/sfc/p/#0O000000rwim/a/4J000000QBz9/kgEhGyUxekk5mE0qYYShDabZPxBopXSYHj0KQf.NJGQ

Page 39 - Social View !!!

"Innova intends to contribute to social value in the UK, by performing activities that the priority policy relating to creating new businesses in the UK, new jobs in the UK and new skills in the UK.

Innova is creating new jobs in the UK through its current development of manufacturing capability with a UK entity, Sharp Clinical Services, in south Wales (Rhymney).

This manufacturing capability will directly create in excess of 300 skilled labour jobs in an area of otherwise high unemployment. Innova has already started recruiting for roles such as engineering, regulatory architects and machine operators.
Innova expects the facility to start producing product at the end of June 2021.

In addition, we are exploring additional manufacturing sites in the UK, which will also create significant jobs and stimulate local economic growth, with operations expected to commence at the beginning of 2022.

Innova has formed a UK subsidiary to manage this business expansion in the UK. This entity will also hire UK staff and its use will ensure money stays in the UK (e.g. VAT). Efforts to on-shore business will include development and launch of further Covid-19 and non-Covid-19 related products into the UK market.

At each domestic manufacturing facility, Innova intends to have significant storage and staging capabilities to deliver product quickly and affordably. "

So in that statement you have the UK governments get out of jail free card when it comes to any enquiry down the line.

It doesn't matter if the innova test is the equivalent to, and as accurate as peeing on a brick to see if you are pregnant, as long as the contract can be spun to the governments "leveling up" rehetoric.

https://www.gov.uk/government/publications/dhsc-spending-over-25000-may-2021

May 2021 = 303,000,018.20

On Top of previous payments

November 2020 = £286,200,000.00
December 2020 = £286,200,000.00
January 2021 = £253,607,016.84
February 2021 = £457,483,720.00
March 2021 = £726,266,213.80
April 2021 = -£181,800,000.00

@Cavity: What Colin Says is the Kieron is not leaving "immediately" and there is a transition period until August,

He is leaving then.

If you look at the RNS
"The Board would like to thank Kieron for his many years of service and wish him all the luck his future endeavours."
Colin: "I wish him all the best in whatever he decides to do in the future. "

@BigJock36: I know you have a problem reading long sentences sometimes but what I actually said was

"Also worryingly Kieron is walking away from £110K coming to him in Jan 2022, all he had to do was sit tight and keep the share price over 30p to get 750K options at 15.4p"

Which is a fact : https://www.omegadiagnostics.com/Portals/0/200124%20-%20Grant%20of%20options.pdf

Kieron Harbinson
Group Finance
Director 940,000 750,000 1,690,000

at an exercise price of 15.4 pence per Ordinary Share (the “Options”)

The Options issued to Colin King, Kieron Harbinson and Jag Grewal contain an additional performance condition which states the Option shall not be capable of being exercised unless and until the middle-market quotation of a Share is equal or greater than 30p at any time on or after the second anniversary of the Grant Date,

were granted options on 23 January 2020 (the “Grant Date”)

“Directors sales in open period not aware of any contract delays. Anticipated April May sales of Mologic which would have lifted price.“

So just luck they caught the top of the market!!

"Reasonable sales revenue given pandemic ?"

Did i miss an update to the released figures ?

"Opportunities identified by the BoD to exploit Covid" we were told

https://www.investormeetcompany.com/omega-diagnostics-group-plc/register-investor

Colin will have the opportunity to explain whats gone wrong in this afternoons presentation.

Lets see how many of the following he manages to avoid addressing.

i) UK-RTC - Being led up the garden path that antibody tests were critical to the Vaccine rollout, pivots the whole company to concentrate on the ABC-19 test, without having the business sense to ensure a minimum order was set.

ii) MHRA approval shambles, used by the DHSC to shaft the UK-RTC

iii) The lesser spotted Visitect Antibody test, if you have one of them, they will be a collectors item in years to come because they are so rare.

iv) Elisa Antibody test / Elisa antibody lab service - Must be cobwebs all over that lab for the revenue its generated us.

v) CD4 - less that 100K ordered when we are led to believe that is a core business line, with WHO pre-approval removing obstacles for countries to order, Well perhaps something such as a global pandemic is a bigger obstacle for those countries at the moment.

vi) Food Intolerance, we are led to believe that China was a massive market for us, China are back to normal after the pandemic, partying hard in nightclubs and spending UK tax payers money, but we don't see a rush to order our tests.

vii) Six Month Mologic Tech Transfer and delays in regulator engagement, puts us behind the market rather than ahead of it like we should be.

viii) DHSC standby contract, when they stated in the comming weeks and months we will be delivering tests.

ix) The most crap PR and investor relations in human history

x) Institutional Investors abandoning the company on first "good news", Directors selling their holdings on the last "good news"

Have i missed Anything ?

So a 50% drop in the SP since the announcement of a DHSC contract is because of randoms on a message board?

More likely because its been the biggest balls up in history, and sold Sweet FA in a global pandemic when they told us it would be a transformational year, now we are talking about growth in another two years, and Covid revenues "very much dependent" on the idiots in government, what happened to the exciting opportunity to commercialise the Visitect antigen test ?

"3rd wave coming"

We are already talking about the inevitable 4th wave in the winter, but if the UK diagnostic companies keep getting treated like this by the government (ODX,ABDX,NCYT,AVCT) there wont be an industry to support and Bojo's cronies can restock the brown envelopes.

Also worryingly Kieron is walking away from £110K coming to him in Jan 2022, all he had to do was sit tight and keep the share price over 30p to get 750K options at 15.4p

In the placing RNS the company stated with regards the 40p issue price

The Issue Price represents a discount of approximately 27 per cent to the closing mid-market price of 55 pence on 18 June 2020, being the latest practicable date prior to this announcement.This discount reflects the rapid rise in theCompany’s share price from 11 pence on 8 April 2020, immediately prior to announcement of Omega’s participation in the UK Rapid Test Consortium.

So 11p prior to joining UK-RTC consortium and in a whole year we see a covid revenue stream of £900K (which we haven't been paid for yet because of Han**** and Lord Bugger up Bethnell)

So the rise from 11p top 40p was sold on the back of the Covid Opportunity which the BoD had identified but have clearly not delivered on, so perhaps Colin really does need to take stock of his position and step aside.

More importantly what is there to keep use above the 40p if we cant make anything out of covid, I could really do with Colin quantifying what he thinks will be "transformational" for the company in the next 9 months

Trouble is Jo Churchill is a slippery as they come, and she was very careful not to mention the government actually purchasing any tests from GAD or ODX

Tomorrow's presentation is not about the figures, we already know them, its about seeing the whites of Colins eyes and getting a feel for how much of the Omega news has been bull**** and how much is based on facts.

If he says little or nothing about the last three months and just comes out with the same old reiteration rubbish we could be in for a rocky time on Wednesday, if we get some actual revenue figures surrounding the Cassetting and or whatever else 250 staff are doing we should be ok.

Based on previous presentations I wouldn't expect much in the way of a polished presentation though, more like a pair of school kids presenting their home economics project to their year 8 class.

Multi-bag by Xmas !
Sell all we can make !

All we need for the classic trio is a "buy the dip" !

By Xmas !, anyone that has been here since last year will know how that sounds !

Looks like Lotus Global are another micro company

https://find-and-update.company-information.service.gov.uk/company/06152108/filing-history

Supplying Innova tests…

https://www.medrxiv.org/content/10.1101/2021.01.27.21250428v1.full-text

“The manufacturer (Lotus Global Company, London, UK) “

Another mechanism for this government to launder tax payers cash to the chineese

Boris is a bloody idiot and spouts rhetoric at the best of time, I'm sure if we produced Gold wallpaper or gave out exotic holidays we would be in a much better place that we are now