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Passenger numbers at Leeds Bradford based on 2019 movements are about 7% of Manchester, Stansted and East Midlands combined so the contract could be worth £10m.
The MAG contract is worth £160m but it covers 3 airports.
I wonder how much Leeds Bradford is? Could be £5-10m. Wish they’d give us the numbers on this.
I notice there are 9 flights leaving Leeds Bradford on Monday and no doubt will ramp up further from Wednesday. Does anyone know who won the Manchester Airport contract?
Thanks JAdam, NiptSteve.
Let's get some courtesy, constructiveness and maturity back to this board. Totally disgraceful the way some posters are behaving.
Thanks JAdam, much appreciated.
Can you also see other suppliers who have won contracts so far? Is there a summary for each lot and who has won contracts?
Bakky, where do we go to see the awards under the framework contracts YGEN is on? Cheers
From 21 September last year:'In addition to the DPYD assay, the Company's cystic fibrosis, male factor infertility and invasive aneuploidy diagnostic products will also be sold by IBL-America which, together with the DPYD assay, represents what the Company believes to be an addressable market of over £30m per annum. Yourgene's products will initially be sold as Research Use Only ('RUO') to the research sector and to CLIA-certified laboratories for in-house validation prior to clinical use, with the potential for full FDA registration later depending on customer demand. Minneapolis-based IBL-America has been providing high quality laboratory reagents to the US research and clinical markets for over 20 years with a focus on customer and product support.'How long will it take before we know if this has been successful and we are applying for FDA registration?
Agreed they have enough money for day to day operations but placing would be for an acquisition.
It's been nearly a year and acquisitions are a clear part of their strategy.
What other reason can there be on a day when further good news is released and a positive day for the market?
Placing coming?
Could be another acquisition, but dilution will hurt existing shareholders.
We have 17 vacancies right now, many of which look quite senior. Has got to be positive. But still the market doesn't believe the story, nor the persistent seller.
Perhaps it's the institutions who bought last year in the placing at 17p who are selling. They must be well hacked off.
But they should still disclose it.
I asked Walbrook about the significant amount of ongoing, sizeable share sales in YGEN in recent months.
Their response was that the Company does liaise with the NOMAD on significant share dealing but it is not the responsibility of the Company to ensure shareholders fulfil their disclosure obligations as set out by the FCA.
Fair enough, but I think they should do more to find out and who on earth is selling for such a prolonged period?
I particularly like 'the planned launch of a new clinical reproductive health screening service across all US states by the Partner' and 'Our move into the US market space is gaining momentum'. All US states and lots of interest!
Definitely looking forward to more US announcements. The US head has been in post nearly 3 months now and a couple of vacancies seem to have been filled recently.
As far as the selling is concerned, if it's HSBC selling it must be their nominee accounts and therefore underlying beneficial owners. Whatever, a TR-1 must be due and if the Seller isn't disclosing it YGEN should be investigating it. I will ask Walbrook.
Thanks Mala.
I guess it doesn’t matter over the long term but is it 3-5 years from late 2018 when they developed the strategy or July 2019 when they announced it?!
I suspect it was July 2019 so we should expect that material increase between July 2022 and July 2024.
Here’s to Christmas 2023 for at least 70p!
Can anyone point me to the interview or RNS in which LR or Adam Reynolds said shareholders should see a material increase in value in 3-5 years?
Thanks
Hemo
I have had 10 responses and 20m votes from disgruntled shareholders who are unhappy with the terms of the transaction.
That is very positive but as time is so short my advice is that we all use our votes to reject the terms.
I have already voted against the share consolidation on my broker account whilst voting in favour of all the other motions.
In the meantime I will write to the Motif board letting them know of the interest we have garnered so far and letting them know that we will continue the crusade against this disgraceful deal.
The terms need to be improved. For me it is a matter of principle and given the dilution I will suffer with very little chance of recovering much of my investment, I am prepared to write off my investment to undermine this deal. I want the directors at least to think about what they are doing because it is unacceptable.
For the record I have 845,000 shares.
Please email motifactiongroup@gmail.com if you would like to register your interest.
I can answer the warrants question.
We get the warrants based on our holdings after the consolidation.
There will be 2,977,231 shares held by current shareholders after the consolidation.
1,488,615 warrants will be issued on a 1 for 2 basis i.e. half of the 2,977,231.
In my opinion this is a terrible deal for shareholders and given the dilution we are suffering and consequent collapse in value, which is over 96%, I intend to vote against this disaster.
The directors and their advisors are taking us for fools. The explanation for the share consolidation is insulting, the dilution is disproportionate, the communication around the warrants is misleading and pricing the warrants at 50% above what the directors are paying for their warrants is disgraceful.
I may be dangerous, but I would rather get nothing back, and then see these greedy directors also get nothing, than support this deal.
To that end, we need to mobilise quickly and let the directors know our position. The deadline is 10 June for our votes.
The share consolidation needs a special resolution to pass it i.e. 25% of the shares or c.164m shares.
I have set up an email address at motifactiongroup@gmail.com
Please let me know if you are ready to vote against the transaction as proposed and how many shares you hold.
I will not respond until next Tuesday when I will report back to everyone on how much interest there is. Depending on that interest we can then approach the Board.
Of course, if someone else wants to take up the crusade I am happy with that and will gladly join. But we must do something and quickly.
£25m+ revenue expected this year and we are at £92m market cap or 3.7 times sales. We have always been told companies like ours should be valued at 5-10x sales so £125-250m.
Something just not add up. The market doesn't believe the projections or LR.
Where is the TR-1 for this pesky seller?
I hope we get taken out soon and I'd take 25p happily to end this nonsense.
One final point, the US contract debate is nonsensical. LR said back in February it would be delivered first half of calendar 2021. I will judge him on that and not guff from BMD.
Great about the revenue and volume from Boots but how much profit do we think we are making from each test?
I can’t see it being much more than single digits a test so large volumes are critical.
What irks me is that it's so obvious that they are waiting for news to deflect attention from the trading update, which should have been published by now and will be poor. What about the mea culpa from LR back in February?!! He must take us for mugs.
I think the share price is falling because disappointing results are inevitable but further good news is uncertain.