Member Info for Hemo

How can lazy Lyn keep a straight face whilst talking about shareholder value?! We need delivery and newsflow to drive the share price.

Lyn Rees, CEO of Novacyt, said: "Yesterday's vote marks a positive step forward, giving the Board enhanced flexibility to respond to opportunities in an increasingly dynamic and competitive marketplace. Our focus remains on delivering sustainable, long-term value through a disciplined organic growth strategy. This is being underpinned by targeted cost base rationalisation and executed through our newly established Centre of Operational Excellence, alongside continued investment in our high potential new product pipeline.

The approval of key financial resolutions positions the Company to act decisively on accretive opportunities as they arise. While certain initiatives may require further support from existing shareholders, they will be pursued with a clear focus on driving shareholder value."

And now £7m! Looking good…

Our share in Blackstone is now worth £6.7m by my calculations! We are trading at a near 40% discount to the current value of our investment in that. I am confident we will see a significant rise in the next month.

They’ll probably delay the results and growth strategy due this month because of the Trump tariffs. Absolutely useless bunch of value destroyers.

Rees has been in post since 1 May last year and still no growth strategy announced. Absolute joke.

The company needs to be sold and that’s what the strategic review should conclude. I just hope the LTIP doesn’t disincentivise them from that outcome.

It's an absolute disgrace how long it is taking to set out the growth strategy. Most CEOs would expect to deliver this in no more than 6 months, probably 3.

Personally, I think our best hope is that the Board put the company up for sale next month when they finally announce the outcome of the review. The business is sub-scale and the management is out of its depth. Anything approaching £1 would be a result.

£5.3m now - the market is attributing a high probability it won’t happen or if it does the price will be a lot lower. This is the problem with a poor track record but hopefully CB will make everything right with a successful outcome on H&G.

Yes good news on Hope today and the Aussie market is receiving the Mankayan news well. Our stake in Blackstone is now worth £4.4m, more than 20% higher than yesterday’s closing value for the whole company.

But certainly finds it difficult to formulate and communicate a coherent, timely strategic plan. Absolutely outrageous how how long it will take him to present a plan. I’m amazed how meek everyone is. You get what you tolerate.

LR certainly knows how to increase headcount and decrease profit.

I would include cash and would value the business around 3-4 times revenues.

I do agree however that there is an underlying problem that hasn’t been addressed with the YGEN business - it declined about 10% in 2023 and looks like it will decline again in 2024. They need to clarify the plan here.

I might revise my price down to £1.25! Perhaps the business should be just put up for sale.

Hi all

I am a former shareholder of YGEN and now shareholder of NCYT. I was very unhappy with the ending for YGEN and blame the company’s demise squarely on Lyn Rees and the Board. But we need to move on and the underlying business is a good one.

I am also a chartered accountant and have put together a forecast for FY24 for what it’s worth. If anyone wants to engage on this separately I would be happy to.

My forecast headlines for FY24 are the following:

Revenue £19.2m

Loss before tax £37.8m

Normalised EBITDA loss £12m

Net assets £49.4m

Cash balances £29.1m

I think the market has overreacted post settlement and this should now be worth c£1.50 given the financial and legal uncertainty has been removed around the litigation and we would seem to be fully funded until well into FY26. I would suggest the market is not convinced by Lyn Rees and needs to see proof the underlying YGEN business can start growing again.

Did you notice the share price decline dumbo?

The communication and messaging is woeful and disappointing and always has been with LR.

Good old LR he loves to destroy value. And the communication is so poor. Why can’t they give us an idea of 2024 EBITDA? They’ve had long enough.

What is everyone’s definition of near-term? I would say 3 months maximum so the issue of the licence is well overdue now…

What is that numbskull Winnifrith saying about NCYT in his latest musings?

Terrible news on 2 fronts. Lyn is a proven failure and destroyer of value. And why on earth does it take so long to integrate YGEN accounts. This should have been done months ago. They’re tiny companies. A black mark for the new CFO.

Yes GLTrader’s projections are worth their weight in hot air.

No update on the litigation other than £0.6m spend?

What is the definition of ‘shortly’?