RNS interpretation5 Feb 2022 10:27
As I see it, and it doesn’t seem rocket science, the BOD only need 30% over £3:54 to vest their full handful of free shares in the LTIP. This would not be until Dec.2024. Which means there is no impetus to address the slump in the s/p ( as per usual btw) since it only has to reach about £4:70 in 3 years.
Now if I have interpreted its implications correctly (if), then this seems a self-serving bonus on top of probably rather hefty salaries. And after a year of shareholder pain, hardly gives the shareholder any sense of validity. Assuming I have this right, I am not surprised there was no market response. It all seems to be about Options at reduced prices or self-serving ltip’s. ( All 3 of my shares..inc 4D..same there). Shareholders voted this through but what a sham anyway.
And the BOD’s self-imposed right to block, modify or reclaim shares from the program seems bizarre…unless to stop abuse ( although No.1 guilty, GM has departed).
Yes it’d be a 300% upside , but from such a pathetic price anyway.
Assuming I see the whole picture, Novacyt has shot another of the shareholders’ as per normal and it leaves me cold.
I may have missed an implication, but by that very nature, do not know.
I only see bouncing along at this ridiculous level for…who knows how long.
I also work on the given premise that Ncyt want p/i’s out . I personally have nil doubt but do not expect others to necessarily recognize that.
I have become extraordinarily jaded by the treatment of shareholders since interest rates bottomed and the public piled in. Cannon fodder. No-one has to agree. Is fine.
End