Member Info for PI100

Good lord, horrendous.

£28m annual losses.

£7.8m cash burn in 4 months, £4.5m net of dhsc costs. So excl DHSC cash burn is circa £13.5m a year. Horrendous.

Where exactly have they cut costs, ffs

The conservatives do the right thing? They’ve not done that in their history so do you think they’re going to do that in their last 6 weeks in office? They’ve got another 40 odd days to drive more nails into the uk coffin and steal as much money as they can.

Outcome not known on 4/7? When will it be known?

Val - no, given that the meeting is next week and court date is mid june

Nope, just been busy and currently have no interest in this share as nothing is happening.

There isn't any growth, therein lies the problem

Another day in paradise at 6.5% red

Not a million miles away from 60p again HC, freefalling again today!

And again today. The market isn’t silly, they know the operational performance is diabolical so just resetting after the false rise.

None, probably. The exact same rns comes at the same time every month.

Val it won't get any airtime so there won't be humiliation. We are 9 months away from the general election so all the tory press will cover for those 9 months is fake tax cuts, rwanda scheme and hammering benefits claimants as for some reason (why is beyond me) this will apparently gain them votes.

Court. They don't care about wasting our money. They'll spend as much time and money as it takes, even if they know they haven't got a case.

Classic ncyt. 13% up this morning now in the red!

Fairly sure the rns said we won’t get an answer until June.

A company like ncyt making huge losses and bleeding cash should not be paying dividends. Do I want 10p a share or do I want £7m going into somehow growing this company? No brainer.

AIM stocks are boom or bust from a capital appreciation perspective, for regular dividends we need to be looking at proper companies in the higher leagues of the ftse.

Any lth sitting on massive losses here would be bonkers to feel otherwise

Good luck to them. Got to be a better life over there than in this absolute dump. UK is finished so a good idea to seek pastures new! May get some appreciation over there than be treated terribly like over here with our terrible, terrible excuse of a 'government'. Government a very kind way of saying 'legalised crime syndicate'.

Val, you’re missing the point. What does YGhave to do with the dhsc dispute?

The YG merger has absolutely nothing to do with the dispute and the uptick expected if it is a favourable outcome

Swag - exactly my point. LR walks away with shares with £1m+ for doing absolutely nothing. Nothing against him obvs, but he had no involvement during covid and has no impact on the dispute so all he needs to do if we get a good outcome is nurse the company through a couple of years of stability with no real incentive to take risks and he becomes a millionaire (if he isn't already).

Don't get me wrong, fair play to the man. None of us would turn down £1m+ for doing absolutely nothing.

My point about it being a 'bonus' is that if we get a favourable outcome and say add £40m cash to the pile then that gives us almost £1.38 marcap in cash, therefore they'd have met it and just need to dawdle along slowly maintaining that SP, minimising losses and preserving the cash. They'll want another LTIP when this ends so they aren't going to want to start that at £2/2.50 or whatever as it'll be practically impossible to achieve.

I appreciate that if they are awarded the shares then yes they will want the price to rise but they also may just want to duck out at the earliest possible opprortunity with a bag of cash for doing nothing, and not have the desire to grow the company.

I guess I am just very scepitcal about it all. The last LTIP was set unrealistically high and this feels far too low.

The more I think about it the more I think it's just a bonus for doing nothing. Not a single member of that board will impact the dispute outcome yet they'll all become hundreds of thousands of pounds (LR over 1m) better off if it goes our way. Something about that is just wrong.

Once it gets to £1.38, if it ever does, they have zero incentive to push it higher until the next LTIP is reached, so it would seem that that is the ceiling until Dec 2026. Very poor. At least making it £2+ incentivises them to actually do something with the money. They could hit £1.38 and leave the cash in the bank for 2.5 years.

At least it is realistic unlike the last one. £1.38 is a fairly paltry bar but I expect many of us will be gone by then anyway.

What is frustrating is there is no incentive for them to push beyond the max figure and if they somehow achieved it, wouldn’t want to anyway as it would increase the base for the next one

So essentially the board have put a £1.38 ceiling on the SP which is about £95m marcap - if we don’t lose the dispute and get a bit of cash back this seems fair as it may represent cash.

An actually vaguely sensible rns for a change