RE: Huge potential, but £4M cash coming soon!14 Sep 2022 11:00
Operational highlights
· Strategy now focused exclusively on profitable and cash generative Health and Nutrition products
· New executive team of Jag Grewal (CEO) and Chris Lea (CFO)
· Global Health division has been discontinued and disposed of
• Withdrawal from COVID-19, following non-progression of the DHSC contract
• Reduction in operating costs following the sale of the Alva site for £1.0 million
• Disposal of the loss-making CD4 business for up to £6.3 million completed on 31 July 2022
· Post year end equity fund raise of £2.2 million (gross)
· Business now stabilised after the disruption caused by COVID-19