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That's what it sounded like from Friday's tweet, it would be sensible but doesn't reflect the contract - maybe the contract was written for worst case scenario where preferred test wasn't approved. Is it possible that the MHRA will use the FIND data. There was a delay between the report and Omega RNS and I wondered if this was to allow for agreement for commercial use.

The contract states an 18% margin - if the margin on a government order isn't material info then I don't know what is!

We didn't get an RNS this morning with the material info from the contract in it - this should have been released on Friday. The delay better ve due to the fact that they are trying to get things in place to give a more substantial update before tomorrow and that they have learnt some painful lessons.

I agree Eazy and the tweets changed from waiting to be told what test to waiting for confirmation of test. However the fact that we are alreadymanufacturing 'parts' for lfts may mean there is not such urgency on our test approval.

Hi Steve,
How do you know?

Somethng odd.. I haven't been able to sell for the last 30-40mins but have been able to buy. Trying neither in huge numbers.

hasn't been updated.

I hope not...

And from 30th April RNS
'Whilst waiting to receive this confirmation, Omega is currently supporting the Government with additional cassetting and pouching services for other COVID-19 antigen lateral flow tests that are being deployed in the UK.'

 

Great tweets - excellent view that the uk gov put together a detailed contract which specified the margin for phase 1 (pre-production) but left the margin for phase 2 open for ODX to charge what they like. Colin can we please have 1000% margin on phase 2. :-)

Maybe we'll get a trading update.

Wadogara,
Please read that section of the contract again. The charges/costs are agreed during phase 1 but apply to the contract and can be periodically reviewed.

Sneaky Simon ,
The contract states an 18% margin. Phase 1 costs are used to calculate the charges using the 18% margin and there is the facility to review the charges periodically.
The 18% is at least one item in the contract that is material information which should have been released via an RNS. It may be that they hadn't accounted for the need for an RNS due to this figure hence the late tweet after I highlighted the margin in the contract. I expect an RNS tomorrow to rectify their omission. As I previously stated considering the volume and support they are getting this margin seems reasonable. Quite hapy if I am proved wrong. I am not a shorter or deramper just a shareholder disappointed with ODX comms.

Cheers.

Out of curiousity does anyone know what the number 90706v4 on the Visitect test packaging represents?

Was there any mention on the investor call of what level of exploration was likely to occur in the KCB this year?

Should have been announced via RNS. If this should have been announced via RNS, considering the tweets on Friday during trading hours, then there are some very serious questions to be answered. I am emailing Finncap.

I think I now understand why they felt obliged to tweet but it should not have happened. The company previously quoted expected margins of 50% in the UK-RTC lateral flow test. As this figure was seen as coming from ODX they felt obliged to issue the warning. The 18% is in the public domain now so despite saying nothing has changed, it has, and they should have issued an RNS. I think 18% is reasonable considering the volume and support they are getting. ODX please use approved communication vehicles in future!

Are we due a trading update?

Eazy - new updated tweet on capacity!