RE: EMAIL TO WALBROOK FROM TWITTER13 May 2021 21:07
Reposting as the whole thing wasn’t posted…
Hi Guys
Q1 Can you please stop putting brakes on any potential share rise going forward? Maybe hire a social media manager?
No-one was trying to put the brakes on a potential share price only to prevent investors from incorrectly interpreting the recent Government disclosure. It was evident from posts on twitter and emails received from investors that there was a worrying misconception that the additional Government disclosure made on Friday had somehow confirmed a contract award of £374m (beyond what had already been previous disclosed in March) or that Omega had in some way had purchase orders for this value confirmed. That is not the case and the caveats that were stated in the 15 March announcement still apply. We simply made it clear that the disclosure had not changed anything in terms of the contract, or the expected performance of the business beyond what had already been stated, and we reiterated that the Company still awaited news on which test to produce and subsequent news on actual purchase orders for these tests.
I believe the approach reflects the Company’s desire to be honest and clear with shareholders, to ensure that expectations on future performance are correct, and that investors are not mislead or deceived by false information or an incorrect interpretation of the Government disclosure.
Q2 Shareholders feel that the director sales were poorly timed as really positive tweets were communicated followed by a director sale, could we ask that as the majority of shares are owned by private investors to take into account what impact this could have and communicate reasons for sale i.e timebound etc.
Tweets and other social media posts are entirely coincidental to Director dealings, they were not co-ordinated and we are not able to control individual Directors actions. They did not sell shares in possession of inside knowledge and you’ll note that Colin King has not sold any shares.
Q3 As discussed with Sam can you please apologise to shareholders as this has cost us 15% off our share price and it continues to fall.
I don’t believe the Company needs to apologise for being honest and clear with investors and making sure people didn’t interpret the disclosure incorrectly. We appreciate that the Tesla comment has irritated a number of shareholders but it was only meant to be light-hearted, however we recognise the strength of people’s reaction to this and will bear this in mind for future communications.
Q4 Can you confirm the 18% margin mentioned in the contract is just for phase 1 pre production phase and is an amount on top of machine set up and upscale reimbursements as it is being used to devalue Omega and as this is factually incorrect I think you should address this.
That is just the margin for pre-production. Margins will naturally be higher but these have not been disclosed and Omega is not at liberty to disclose these.
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