Member Info for KilkennyTed

LR has been a Novacyt employee for 20 months now. I find it very hard to believe he has had no opportunity to buy shares during that period.

PDMR trading restrictions. PDMRs of AIM companies must not conduct transactions on their own account (or for the account of a third party) relating to the shares or debt instruments of the AIM company or to derivatives or other financial instruments linked to such shares or debt instruments during any closed period. A closed period is a period of 30 calendar days before the announcement of the annual or interim financial results or any period where there exists any matter which constitutes "inside information" in relation to the company.

LR said they have virtually been in a closed period since he joined. So i'll take that with a pinch of salt as they have had plenty of opportunities to buy in. Nearly a year since DHSC case was settled. They would have known about the ongoing HSE investigation for years. Didn't stop other directors from buying. Don't recall any major contracts being announced which might affect the SP.

So yeah he lied.

Cash position in June 2023 was £81.7m (Prior to Yourgene deal)

Sp was 0.37. Giving an MCap of approx £26m. Which is less than today's value.

Acquiring another company with the spare cash isn't enough. 18 months on from acquiring Yourgene and still no plan. I thought communication might change with Lyn Rees at the helm but it has got worse. This is what happens when the company doesn't need investment. Treat the shareholders with disdain. Can look forward to another AGM being postponed this year. That is embarrassing.

You have to go back to September 2020 for the last contract RNS. That was Mullis. Novacyt have had 3 CEO's since then.

Wordle or solitaire .

The acquisition of Yourgene consumed circa £27.6m of cash. This included paying down Yourgene liabilities acquired such as bank loans, contingent liabilities and advisors' fees, the initial cash consideration and Novacyt advisor fees.

Won this non award in 2020 also. LR come out with the usual bilge.

Lyn Rees, CEO of Yourgene, commented: “We are honoured to receive the Outstanding Achievement Award at the prestigious Medilink Healthcare Business Awards, recognising the significant step change for Yourgene that the Elucigene acquisition brings, and the strong platform we now have as an enlarged group to deliver future growth.”

The thing is Larry. There's 1 individual who thinks they are the only one to lose money on this share. Now if they were a "High Net Worth" individual (their words) they wouldn't be on here daily bleating about their poor investment choice. Their are plenty of other companies out their to lose money on. Novacyt don't have the monopoly on that one.

"Innocent naive fools like me ,who are high net worth individuals"

That made me chuckle.

A fool & his money are easily parted.

Cambridge Nutritional Sciences plc (AIM: CNSL), the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition, today provides an update in relation to the summons for its subsidiary Omega Diagnostics Limited ("ODL") regarding a historical breach of Health & Safety regulations arising from the facility used by Omega South West, which ODL sold in 2018. Further details of the summons were disclosed in the Company's announcement of 21 January 2025.

Further to the summons, ODL appeared in Exeter Magistrates Court yesterday and entered a guilty plea to all charges. It was confirmed that the sentencing hearing is to be held on 22 May 2025.

As noted previously, the facility in question was sold in 2018 and in the same year Omega South West ceased all trading activities. This entity has not formed any part of the Company's ongoing operations or business model and there are currently no employees within the Company who had any dealings or involvement with Omega South West.

Further announcements will be made as and when appropriate.

We lasted a week. Congratulations everyone.

However it is way short of the companies record.

EUA

6.44

-0.96

(-12.97%)

Keep it going Doc you might drag it down well before those dates.

Https://thepathologist.com/issues/2025/articles/feb/the-best-possible-care/

Yes. Settled on 11th June 2024

AGM Statement on Impact of DHSC Settlement

Potential for up to c. £7m net cash increase following VAT reclaim

Paris, France, Eastleigh and Manchester, UK - 18 July 2024 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, provides the following update ahead of its Annual General Meeting ("AGM"), which will be held at 1pm BST/2pm CEST today.

As announced on 11 June 2024 (here), the Group reached a settlement with the Department of Health and Social Care ("DHSC") on terms that the Company pays £5.0m to the DHSC. Under French regulations, Article A. 821-85 of the Commercial Code, as this settlement took place before the Company's General Assembly (AGM) but after the issue of the auditor's report on the Group consolidated accounts for the year ended 31 December 2023, the Group is required to update shareholders at the AGM on the financial impact of the settlement. Consequently, the following update will be provided to shareholders on the accounting implications of the DHSC settlement that will be reflected in the 2024 Group interim accounts for the six-months ended 30 June 2024 ("2024 Interim Accounts").

From an income statement perspective, the following transactions will flow through the 2024 Interim Accounts resulting in a net loss of circa £5.0m:

i. The December 2020 outstanding DHSC invoice for circa £20.0m (excluding £4.0m VAT) will be written off as a bad debt as it will not be paid;

ii. The product warranty provision for £19.8m will be reversed as it is no longer required;

iii. The settlement fee of £5.0m (gross) will be recorded to exceptional items.

From a cash flow perspective:

i. The Group has paid £5.0m inclusive of all taxes, to the DHSC (paid post-period-end in July 2024);

ii. The Group has submitted a request to reclaim circa £12.2m VAT paid to HMRC relating to DHSC invoices that will now not be paid. The Company believes it is entitled to have all VAT refunded, however there is no guarantee that the claim will be successful and the timing of the refund is currently unknown.

Assuming all VAT is repaid, the Group's net cash position following the settlement will increase by over £7.0m.

Nothing to get excited about. Just copied from the rns

Novacyt 50.8p £35.9m (NCYT.L)

The international molecular diagnostics Company with a broad portfolio of integrated technologies and services announced that it has received accreditation under the new EU requirements of the In Vitro Diagnostic Regulation for the Yourgene QSTR Base assay. Yourgene QSTR Base is a highly multiplexed, single tube assay containing 22 markers for rapid diagnosis of the common autosomal and sex chromosome aneuploidies during pregnancy. For those women identified as being at high risk of carrying a fetus with one of these conditions, chorionic villus sampling (10-12 weeks) or amniocentesis (14-18 weeks) is offered and QSTR Base would then be used by the laboratory. Autosomal markers are used to detect the three most common viable autosomal trisomies: trisomy 21 (Down's syndrome), trisomy 18 (Edwards' syndrome) and trisomy 13 (Patau's syndrome). The chosen markers are highly informative with results obtained in >99% of samples.

Another new service/product launched not deemed worthy of an rns.

For someone who claims to be a Doctor that is an outrageous statement to make. I think you should take time away from LSE to concentrate on your own mental health.

Don't hold your breath.

"The Company will make a further announcement following the outcome of the case. "

Yes so the alleged breach happened in 2018 at a facility Omega SW operated from. No exact dates given. Was it pre acquisition??

Couple of extracts from Omega rns relating to sale of ID business to Novacyt.

RNS Number : 8668S

Omega Diagnostics Group PLC

28 June 2018

Disposal of infectious disease business for up to £2.175m.

Omega (AIM: ODX), the medical diagnostics company, announces that it has agreed to dispose of its infectious disease business, excluding the VISITECT® CD4 test, (the "ID Assets"), to Novacyt SA (Novacyt"), an international specialist in clinical diagnostics, (the "Disposal").

The total consideration for the Disposal, is up to £2.175 million, of which £0.375 million is subject to certain post-completion conditions being met which are estimated to take up to 12 months.

The Company has also entered into a Transitional Services Agreement with Novacyt, under which Omega will provide certain services, including manufacturing and storage services for up to 12 months post completion. At completion, two employees of the Company will transfer to Novacyt under the TUPE Regulations.

So Omega were getting paid to carry on operations at Axminster under the TSA. Did they retain responsibility for Health & Safety under this agreement. Generally the provider on site will but was it written into the agreement. The fact that the various companies involved are no longer active & management has changed must have made the investigation challenging. The fact it has made it to court is one thing, actually finding a company or individual guilty & then fining them is another.

Today 16:03

RNS Number : 1718U

Cambridge Nutritional Sciences PLC

21 January 2025

Cambridge Nutritional Sciences plc

(the 'Company' or 'CNS')

Omega Diagnostics court summons regarding alleged historical offences

Cambridge Nutritional Sciences plc (AIM: CNSL), the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition, has received a summons for its subsidiary Omega Diagnostics in relation to an alleged historical breach of HSE regulations. The alleged offences relate to Omega South West, a company previously owned by Omega Diagnostics Limited and sold in 2018.

The alleged historical breach occurred in 2018 under legislation appertaining to the possession and use of biological agents at a small facility being used by Omega South West for its trading activities during its existence. The facility in question was sold in 2018 and in the same year Omega South West ceased all trading activities. This entity has not formed any part of the Company's ongoing operations or business model and there are currently no employees within the Company who had any dealings or involvement with Omega South West.

The Company has received a summons with a first hearing scheduled for the 18th March 2025. The Company is discussing the matter with its legal advisers and determining the best course of action for all stakeholders.

The Company will make further announcements as appropriate.