Member Info for notaflipper

No your right. This company will soldier on. It will pay compensation costs to existing customers, relocate the BoD, launch and promote a new product, pay off Illumina, pay overheads, pay BoD (no Director has yet to buy shares this last 2 years and none to resign), pay off TMO loan, achieve BE and grow organically no problem and still be sold a couple years down the line

Mate if you don't think there's a giant "for sale" sign over this or if you think it will be sold at 50p your deluded.

I don't think I was push only positives. I could for example say that there's probably no agreement in place at present to extract us from the UK agreed with Illumina, no exit strategy with existing customers. I could also allude to other positives withheld for many years told privately and didn't come to pass. But we are where we are and will soon be sold so that's only thing which matters

My mistake. Long day, after a long weekend. Let's jus hope for a better ending for us all soon

No you took personal pride This has nothing to do with analysis You took enjoyment

Sick

Flabbergasted absolutely flabbergasted how someone could take pride from something like this knowing how so many PIs have lost so much money on false confidences

Wow Well done twix Slow clap

Illumina have already brought two cases against Premaitha partners Centrum Bandan and Genoma (now bankrupt). In the case of the former this resulted them switching to Illumina platforms. The last time this infringement action was taken in the EU was in 2015. Since then no further claims have been lodged. Unless you have Illumina�s playbook you will never be certain but the strategy of containing the legal threat in the EU seems to have worked. Given that they were able to secure 4 � yes 4 labs in 3 � yes 3 different EU countries � as per the 11th Dec RNS means that even after the damning Nov verdict came out these contracts were still won. The judgement released today dos not add anything materially further to that verdict just basically says that Illumina can proceed with new claim to be heard in 2019 by which time the company will be sold and outside UK so who cares.

One has to think if they were going to come after us in Europe they would already have done so. Other NIPT providers have already taken precautionary measure of doing the blood processing outside EU, or developing that capacity. So with YourGene�s lab we already have that capacity and other NIPT providers have not been given any red lines from doing this as Premaitha were in November. So it is a new low but I take it that the trading update will be released in April as confirmation B/E achieved. They would want to rush out contracts in order to make up the UK sales figures in their forecasts. I think all the new lawyers will do in any practical way will be to indemnify existing customers as part of their exit agreement from UK. Changing lawyers now is like worrying to close the stable door after the horse as bolted and turned into hamburgers. We all know what will now happen here and that it will happen sooner rather than later. So really you can only sell and materialise loss or hold and average down and move on.

Premaitha had patents of its own as well as those that had been inherited from Affymetrix and Zoragen. Hence using their FTO. Today will be emotional especially when reviewing past private assurances, emails and RNS comments. But we need to be mindful that there has been a deliberate strategy of backroom disinformation so no sense of beating yourself or anyone up. So following today's RNS there'll be consultation with staff, existing customers and partners with more information coming in April. The end game however is fairly obvious if think Sequenom was sold soon after losing its legal problems – and they didn’t have to move from countries. The chances of winning the appeal have been known to be unlikely yet TMO still invested with warrants. Then to stabilise SP and bump up SP -> New products rushed through, contracts announced, and new strategy. Then out of the blue an offer is made so surprise, surprise we do not need to do some parts of mitigation plan. Management team get their options, staff get new jobs with new company and TMO get the company for a deal. So bish->bash->bosh all gets worked out. Main thing now is what the sale price will be. At price of 24.6p this would give company a market capitalisation of £78m which I do not think is unrealistic. For LTHs we only have option to average down as end game should happen in next few months.

Only thing which matters now is the sale price.

Year End Trading update is expected in April. Expecting confirmation then of B/E as well as concrete plans. Between now and then expect further news to stabilise SP. No need to feel any sympathy for UK staff as they will be taken of by new buyer and existing lab changed for some other new lab process. BoD's options will all vest if warrants clear at high water mater of 24.6p which I really hope we will still get so they're also taken care of.

we've already frecking explained strategy

This company will be sold you cannot go through narrative like this and not. So we either materialise loss or we hold and average down.

The company will be sold in the short term. That's the main story.

They can't really say much in the RNS. They have to brief customers today as well as staff. This wll happen today. But key points are legal issues now resolved and news flow blocker is off. 85% of company outside UK and this will now be sold off. No need to worry about transition arrangements of staff and BoD in a short term sale scenario. This is the final lap.

We already know what has to happen. They will have to sell the company in near term. No choice. Hold

Hi Institution, Sorry for delay and the typos - was in the pool - but I think others have already responded to you. The Judgement of the UK Court of Patents have only UK jurisdiction and there's currently no Unified Patent for EU and probably won't be high on agenda in Brexit negotiations. Illumina have been very active in pursuing other NIPT providers across EU and so the lack of action from them so far is acknowledgement this will not be successful. The lack of support for anti-competition defense hopefully leads the BoD to the conclusion not to cling on for the EU commission report and see what happens. So I am hoping for the RNS to reflect options 1 to 3. Obviously there's a emotional shock that has been played out over the weekend but there's a lot of positives and the UK only have accounted for �3.5m approx sales to date from what I can work out so not sure where some of the calculations that massive dilution is on the table. The perception of the board either as hapless victims to Illumina's A team, incompetents or eternal optimists I don't think reflects the game they've played. The last 3 years haven't been great and doubtless for VIY holders even worse but we must HOLD our nose and take the medicine as I do think afterwards there will a sale after a suitable period of time.

If I can suggest on behalf of Brainspark that the worst thing for PIs would have been the continuation of appeal. This would create a blocker of news flow as the company would be reluctant to release news in non redacted knowing it would either be dismissed by the market or used against them by Illumina. So whatever the RNS expect other news alongside it to better the medicine and expect more news shortly thereafter. The judgement focused on an abuse of process and competition and the '321 claim. The reason for bringing the former defence was also to put pressure on Illumina to settle. Although the Judge has said there was no abuse of legal process etc. he also said that the '321 claim didn't really add anything materially to his judgement in Nov. Some could say that the BoD's legal strategy of extending the legal process till a commercial foothold was achieved and preventing further claims being drip fed like '321 has been successful. There is already in place a TMO loan of �2.1m to fund ongoing appeal but this is secured against Yourgene. So given the (verbose) summation from the Judge it wouldn't make sense to chance further. So if you are not going to appeal, it would make sense to announce now, and then there's only 3 methods: (1) withdraw from the UK, (2) settle privately with Illumina or (3) ask for a court imposed settlement. Premaitha was ordered to pay interim costs to Illumina of an amount in the region of �1.5m. This payment will be met from the escrow facility announced on Monday. These costs will be repaid in the event that the appeal is successful. Premaitha since 24 Jan have ALREADY agreed to pay 10% of UK revenues earned from the that hearing date into an escrow facility as reserve potential future damages. They have ALREADY paid interim costs to Illumina of �1.5m approx. So PIs need to understand that this is ALREADY priced in! And talks of incredible share dilution is just scaremongering. The gross margin is approx 45% so this is already covered. As per past RNS from the BoD the damages suggested above are ALREADY able to be met with EXISTING sales and growth and B/E should still be achievable by March - and if not by Sep. In the case of withdrawing from the UK and winding down costs it would be hard to imagine the Judge would NOT have indemnified EXISTING customers potentially through a license fee and allowed time. As we know 85% (I suspect RNS will confirm this is now 90%) of business is outside the UK it makes sense especially with Brexit to move HQ from UK. So the question is what do you do with BoD and staff but that's not such a worry if there's a sale which I suspect will happen now in nearer term. Some are worried about the immediate reaction will be but I suspect that the RNS may also be accompanied with other news to better the pill and put the above in context. So I will still hold and continue to see strategy as above through. But as before whatever the initial market reaction the RNS s