RE: Gosh4 Jul 2023 09:22
I had to do a double take when I saw the RNS yesterday, the feckless board has finally got off its @rse and done something. Agree with most of the sentiment on here, the company is clearly comfortable enough with its position regarding the dispute to now go ahead and start spending.
What's interesting to me is that this is taking place in the middle of the Covid public enquiry, are we about to see some evidence come to light that finally puts the last nail in the coffin of this dispute? The committee is empowered to compel testimony from whomever it chooses, regardless of whether there is an NDA in place.
Is it a bad deal for YGEN shareholders, yeah probably but there are very few players out there swimming in cash so the chances of a counter bid are low imo. If YGEN shareholders want to get some revenge on Rees then buy shares here and vote against his appointment/ratification, institutional interest is close to zero so unless the company undoes years of malaise in that respect then it would actually be very easy to give him a final kick in the gonads. If institutions do finally decide to get involved here then you'll make a handsome return which will make this dissappointing turn of events an easier pill to swallow. I take no glee in watching other shareholders getting done over, the fee agreed looks very convenient for one YGEN board member in particular.
The money we've spent here repesents only 20% of the money we're counterclaiming from the governement, nevermind the Β£80m+ we currently have at the bank. We didn't need to grow organically to Β£100m pa, we simply had to put the money we have to work and christ it's taken them an eternity but it seems the wheels are finally turning.
GLA