Member Info for sandgrounded

RE: RnsToday 08:19
@sandgrounded: "Don’t get into a panic about a standard resolution and watch out for some posters trying to mislead." Perhaps you're the one trying to mislead. It says quite clearly they intend to offer existing shareholders first dibs on the shares to avoid dilution.
Resolution 4 means they have to allow current shareholders the same opportunity to take shares up if offered.
Resolution 5 means they can offer the shares to others without the need to make the same offer to current shareholders.

Some examples.
Paying for drilling with shares. ( thanks WF)
Bonus shares to employees and directors.
Allowing a strategic partner to buy into the company without the need to buy on the open market and distort the share price.
Allow the board to make an all share acquisition of a neighbouring company without alerting the market.

These are just examples, so please don’t construe anything from them.

Good luck to all genuine holders.

You said it much better than I did Welsh Falcon. Lol.

Resolution 5 allows the company to allot shares without the need of a special egm. It is a standard resolution for many companies.

Imagine if they wanted to buy another company using shares. Without this resolution they would need to set up an extraordinary general meeting and take a vote on it. This could take 6 weeks to do at a minimum and the opportunity could be lost. It is a back up and on any case is limited to 10% of the total shares in issue. (Approx 400 million).

Another example would be to pay Pacific their shares for the Havieron licence. Without resolution 5 this wouldn’t be possible.

Don’t get into a panic about a standard resolution and watch out for some posters trying to mislead.

A bit misleading there jack. That was resolution 4 which was passed last year. It goes on to say
“ As with many companies listed on the London Stock Exchange, including AIM-traded companies, it is standard practice to seek annual, limited disapplication of pre-emption rights to allow flexibility to allot shares on a non-pre-emptive basis. It is in this context that the Board has undertaken a review, together with the Company's advisers, to consider the flexibilities and amounts that such authorities would provide to the Company. The Board has concluded that it would be prudent to seek shareholder authority for these authorities, limited to the amounts as set out in the Statement of Principles published by the Pre-Emption Group in March 2015 ('Statement of Principles').”

Trying to mislead again?

4 trading days next week, then when we come back after Easter, people can top up their ISA’s again.
At these prices many more will be snapped up, so can the MM’s afford to let us have them at these rates?

So sorry for your loss Paddy. Our thoughts are with you and your family.

Jackthebear, I think it was resolution 5 that was withdrawn before it was voted on at the AGM in December. It was proposed in November, but caused a lot of head scratching over its intentions.

With hindsight, could the extra shares being raised in resolution 5, have gone to NCM or even one of the other majors to fund our part of the Havieron deal?

The subsequent deal for the juri j/v came quickly after, together with the loan for Havieron.

I don’t think you could put a deal like 5hat togethe4 in three weeks, but possibly Resolution 5 was to give the board an alternative.

Someone didn’t like it and it was pulled. A short time later and out of the blue GH said he was leaving.

Everything coincidental ? Who knows, but the share price has been slipping since.

Keep holding and good luck to all holders.

Well I kissed it lol.

For those who kissed it earlier...

https://mobile.twitter.com/gervaiseheddle/status/1374672291674525702

Could do with someone putting a cheeky bid in for 5he company and we would soon know who has been accumulating under the take over code. ( holders over 1% must declare).

Keep holding.

“ As Paddy says, #itnonnyour hands and don’t give away your shares on the cheap.”

I’m not sure Paddy would say that unless it is Gaelic lol.

Antigua, I respect what you say and we could have a great discussion about it over a pint some time, maybe at the next AGM.

However, I dont think these results are pivotal. I think they will be ‘ pathfinder’ results for want of a better description, but in this market I think they would be misinterpreted ( being kind) for whatever reason.

Market sentiment isn’t with this sector at the moment, but I would say to all that this will change. As Paddy says, #itnonnyour hands and don’t give away your shares on the cheap.

Best wishes to you and your family.

Littlepost
thank you for that information. If results are published then I will come back on here to say my opinion was wrong. But that is all it is my opinion and it angers me that people question one’s integrity because it is a different point of view.

I hold 2.4 million shares and when the list of shareholders was collated by Hydrogen ( i think) ) I had 2.5 million, which he can check. The 100k was sold around the16.5p Mark to buy some ODX. I have not sold any other than that.

Yes we need to move on and look forward to the juri drilling, which I said in my first post on this thread. I am very positive about GGP and I also look forward to success at Scallywag in the near future.

All I would ask is that people are treated respectfully and opinions are discussed and debated without malice.I could question why people have stopped questioning ( and answering) why we didn’t get the AEM results last year. Same scenario.

We do need to move on and stop questioning why the Scallywag results are not here. You could argue that the people who keep bringing it up are the ones who want the u certainty to continue.

I will leave it at that, having popped my head up over the trenches again for someone to take a shot at. Good luck to all holders.

Thanks Antigua.

I have just been looking on the below website for the Lon£on Stock exchange rules and to be honest you could argue it in both ways. I will leave it at that though. Good luck.

https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf

Also, please explain why they have never released the aeromagnetic (?) survey results, which we were all waiting for?

Are you for real. They only have to release if they are good. Omg

Antigua, explain why they are required to issue an rns. .... to inform the market of any news that could affect the share price. They could argue they have issued news on the three holes which had that effect, therefore why would they need to report the other four if they are similar. However if they are good results, they WOULD have an effect on the share price and therefore would have to report them.

OMG, you jump down people’s throats when they put a different point of view forward.

Hollomatronic. You summed it up much more succinctly lol

Why should they issue any more Scallywag results if they are similar to the three previous ones? They only have to report information which could affect the share price. They have done so with the first three drill results.
I am not expecting them to report the other 4 holes unless they have fantastic results.
People need to move on.
They will use the data from Scallywag to determine where they drill later this year. In the mean time we have lots more to look forward to at Havieron and on the Juri J/V tenements.

Apologies Gadge. You are too quick for me.

22 March 2021

OMEGA DIAGNOSTICS GROUP PLC

("Omega" or the "Company" or the "Group")

CE-Mark of Mologic COVID-19 lateral flow antigen test

Omega (AIM: ODX), the medical diagnostics company focused on CD4, infectious diseases and food intolerance, announces that it has CE-Marked Mologic Ltd's ('Mologic') lateral flow antigen test for COVID-19, to be sold for professional-use under Omega's VISITECT(R) brand. The test will provide healthcare professionals with an accurate rapid test for the detection of the nucleoprotein of the SARS-CoV-2 virus in respiratory swabs.

Having commenced technology transfer late last year Omega has CE-marked the product and is now in the process of completing marketing launch for commercial roll-out which is expected to start in April. The Company is already in discussion with a number of potential commercial partners looking to order the test post launch.

The Company is well on its way to establishing a lateral flow production capacity of approximately 2 million tests per week by the end of April from its Alva facility in Scotland. This production capacity will be used to produce this VISITECT(R) branded antigen test for sale to third-party commercial customers.

The Company's production capacity will be used to fulfil demand across a range of lateral flow tests:

-- VISITECT(R) CD4 Advanced Disease test - a rapid, semi-quantitative lateral flow assay used in the treatment of patients living with HIV

-- VISITECT(R) branded COVID-19 lateral flow antigen tests - now CE marked and being launched in April as noted above

-- COVID-19 Lateral flow antigen tests - under contract for the UK Government (as announced on 11 February 2021)

-- VISITECT(R) COVID-19 IgM/IgA/IgG - a rapid test for the detection of three antibody isotypes to SARS-CoV-2

-- AbC-19(TM) COVID-19 Rapid Antibody Test
Utilisation of the Company's weekly production capacity for the supply of antigen tests under the DHSC contract, and the supply of the other tests above, is expected to have a significant impact on the future performance of the business and whilst volumes are unquantified it is likely to result in substantial revenue growth in the financial year beginning 1 April 2021.

Colin King, CEO of Omega, commented: "This is an exciting and important next step in our COVID strategy as we now have the ability to supply both antigen and antibody lateral flow tests not only to the UK Government but also to our commercial partners. Having both tests available and having built our production capacity allows us to adjust our capacity to meet the demands of the pandemic. We look forward with confidence that the coming year ahead will be truly transformational for Omega."

The information communicated in this announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.