Member Info for raharh

Looks like the recovery has started on the stock market in general and will be buoyed at Capita by BREXIT IMO.

Just a question for the board. The RNS statement :

"However, trading has remained in line with our expectations, and we continue to expect to comply with our debt covenants at 31 December 2020."

Does this infer that the disposal of ESS by the end of the year is not critical to meeting the covenants? As I would read this as a positive - i.e. not a distressed seller of ESS and therefore stronger position on getting the right valule.

Am I talking codswallop? Thoughts?

I put O cAenke Komnahnn in to Google and the first return was :

Eurasia Share Mining Chate (lse.co.uk) :-)

Antibody test is going through home approval.

We dont have an LFT antigen test going through home approval, not sure anyone has.

Bizarre statement from a PM - almost Trumpish.

There are no self tests that have MHRA approval and the closest from what we understand is RTC which is an antibody test and not an antigen test and so wont tell you if you have it.

Not got a clue what he is referring to; ODX, AVCT, NCYT or another one we dont know about.

Doesnt change the ODX potential - but lets not hang on the fact that he said it. Just sounds like a sound bite to me.

PTO - look on the bright side - the board has been 'vibrant' today. The derampers have been replaced by all the supporters debating healthily (in most parts).

We have a long way to go and to grow - look at Novacyt - we will be manufacturing 2.5m soon ... possibly more if this goes on so for me it is when not if the SP re-rates north.

chuggley - it is a bit of a mess so i dont think you are being obtuse - you just want clarity - the question we need to ask (IMO) at the investor presentation is:

We have 175,000 unit order from the recent £75m call off contract. As there is no further commitment from UK Gov at this point does that mean Omega can sell the excess capacity privately? Do they need Abingdon's approval as lead? Do they need government approval (and if so why)?

Otherwise wont we stockpile a lot of manufactured tests that we manufacturer with no guarantee that they will be bought?

MHRA approval can take as long as it takes - so it could be 'slowed down' - it would be a bad position if it came out and there were no stockpiles to supply the public with an at home test developed in the UK because we do not have enough stock.

Am I being too Machiavellian - patience will let it all flow through in any event.

And Regulator, I think I may have said framework, poor choice of words, I agree - call off contract.

Thanks Sharpeye - so in essence shorts being closed is good as the 'opener' of the short thinks it is bottoming out and doesnt want to get caught.

Now googling CFD :-)

cluelessinvestor - could you help me out a bit on this one as I still have not got my head around the differing 8.5s that are issued. And I am a basic trader at the moment (i buy shares i think will go up and sell them when they do or when i no longer think they will - that is about as basic as it gets)

So away from the massive RNS for sale.

On a short such as this it is indicating someone buying 632,880 shares at 31.266p - and settled as a short.

Does that mean that someone opened a short position selling someone (or organisation) on EUA at any price (betting it would go down) and have decided now to close that position and provide the purchaser of that short the shares they promised.

However - we dont know what the short was opened at - at 35p the person closing the position has made a profit of c.4p per share, if it was opened below 31.2p then they have made a loss but are judging they could lose more by holding out (especially if the sale goes through)

Is that correct ? And is there any way we know what the position was opened at?

Or am I still not getting shorts ?

Apologies to the experienced investors, every day is a school day on here.

Paul must be sat at his desk - that is a record time for a reply:

1. It is the Company’s considered view that there is no obligation for ODX to announce this as it is orders that will impact business performance and not an estimated potential for an agreement that isn’t guaranteed or covered by contracted orders currently.
2. Hopefully you’ll appreciate that Abingdon Health and UK RTC (and therefore ODX) can only make public statement about their engagement with the UK Government with prior approval from the UK Government.

On (2) it is in the public domain so dont buy it, on (1) i tend to disagree - possibly a question to pose on the investor presentation.

What do I know - back to boring emails at work - we know it is coming - hold tight!

I have always declared I am a fan and owner of ODX shares so take this in the spirit it is intended. Omega are building manufacturing capabilities to service a worldwide pandemic (not a UK one) with five tests and the need for the tests will last at least the next two years IMO if not longer especially on Antibody testing.

You can then add in expected HIV tests post the WHO approval and the Chinese food intolerance contracts.

So this is a superb company that is going to go from strength to strength.

However, there is so much sentiment driven behaviour on AIM you need to communicate and keep people involved (and invested) in the business - Omega is 59% PI owned - and I do think the PR needs some work, I have replied to Paul @ Walbrook just to pose the following question:

---

Thank you for the reply and being so responsive – that does clear it up – however would there not be merit in releasing the RNS stating that the government have awarded the consortium a framework for ordering up to £75m of Antibody LFT kits of which the first 1m were order as per the RNS dated 6/7 October.

Is this not price sensitive in the sense of the potential revenue streams for investors to consider?

Guys

Just to confirm - i got exactly the same reply as Safy from Paul @ Walbrook, to the word (he is cut and pasting a lot I assume), it is a framework to enable ordering of up to £75m with the first call down already being the £1m.

In essence this is good news, it has been done so they can just call off batches now.

However from a PR perspective I would have thought an RNS would still be applicable as it is very different saying 'we have a contract for £1m' against saying 'we have signed a call off contract for up to £75m and the government has drawn down and ordered the first 1m of LFT kits'

JAdam - totally agree - this very much merits an intraday RNS.

We have had a 7% rise based on your excellent research - definitely not speeding ticket territory.

An intraday RNS would just push us on, possibly back to the high of 126p.

I have dropped Walbrook a note asking the question.

RMR - My take on the £10m was that it would bridge operational costs whilst the deal is done. It has totally secured the operations for a period. There was a danger that prospective buyers would look to elongate the process to force a sale on better terms for them with a distressed seller running out of cash. That is no longer the case, so puts the strength back on the EUA BoD. The fact it was easily raised at the, then, full SP said enough about II views of the company.

I dont think it will be used for Fees, the fees are generally deducted from the sale price with a number of parties working on a no sale no fee basis in any event.

This has taken (and is taking) longer than I would have thought and it is just when now IMO. DLA coming on board simply says that they now need legal drafting, you dont get to that point if you dont have a number on the table all parties are basically just about there on.

Richie Blackmore was an outstanding Centre for Castleford RLFC in the early 90s. Outstanding rugby league player and could drink me under the table whenever we got drinking with the Castleford team in Jimmy's night club.

But I can seriously say he couldn't play the guitar for toffee ....

I originally started looking post suspension at EUA and bought in at 19p and have just held. This week my father bought 10,000 shares as well after we spoke at the weekend. I only have just over 11,000 shares as started trading this year for the first time with a small budget but I think this will definitely be the share that gives me a great pot moving forward (and will try and find another EUA down the line).

Some of you guys who have been in since sub 1p have an iron will and steely nerve (or is palladium will and platinum nerve?) and I remember that one of the original documents I read at the start was the ACF research doc stating 54.8 to 60.6p and thought it was good prospect.

Forget that - got to be £1+ now at least.

*show progress (!!)

So Schroeder continue to build a position in Capita - bodes well to get large chunks in sticky hands for a while.

I would have liked to have seen an RNS for the framework - it is positive and price sensitive in my view as they now have access to £7.5bn of tenders and are the only organisation to have access across the whole piece so the PR would have been positive to the market - all feels a bit hidden - other stocks announce agreements / approvals without revenue behind them to shore progress - why the same has not been done here is beyond me.

Not posted for some time on OO as I have been sat on my hands as invested a while back and was attracted more by the Challenge Studies and Immutex sale. There was a lot of buzz about the antibody testing machine but that is small beer IMO and I am in for the result of what happens with Immutex which CF has said should be before Christmas. That could provide a dividend of anything up to the current SP so worth holding just for that IMO.

This must be on the move now judging by the vitriol and aggression on the board, feels like the Omega board did before the rerate from the 30s to the 90s so I can only take that as a positive if not slightly annoying to see it has infested what used to be a civil and supportive board towards each other- all opinions welcome - the company is delivering and so the only thing we have to do is not fight each other!

GLA

I dont think another fund raise will be needed. At the last one they set funds aside so they could either divert until cash flow hits but they also have access to £1m overdraft which they cleared so I would hope that would be the avenue before any more share offer is put out - there isnt the reason.