Member Info for sir_digby

In the company's fy update of 29th January they mention having built up significant inventory to meet anticipated demand although an exact figure of 29.9m wasn't given until June 22nd finals. Promate wasn't officially launched until early Feb iirc. IMO this inventory is more likely exsig and or winterplex, if it had been promate I feel we'd have been able to shift a fair bit subsequently without having to write it down.

This could of course be posturing by the company, settle up or we'll pursue you for this as well as they perhaps have a letter of intent or other communication in their back pocket indicating an extension of the contract into the next phase.

Whichever way, 30m of our money gone west.

If there was a material defect with the product supplied I think we'd have known by now because I wouldn't put it past the DHSC to let it slip to the media to poison the well and cover their backs.

Soder, I had exactly the same thought this morning. Why build up so much specific inventory unless there was a degree of certainty the demand was there. If he's just taken a punt then he needs to be held to account but the company's behavior since the anouncement of the dispute seems contrived to avoid accountability. 30m worth of unusable inventory ffs.

If it's because we were told through the DHSC to anticipate that demand then we should be pursuing them for this on top of the unpaid invoices.

Christoffer, does your cash figure also include the outstanding 20m from Q4 2020?

Bethell gone

https://mobile.twitter.com/JimBethell/status/1438887223089410053

The airlines and tour operators want no testing at all, anything that the government do short of that will leave them complaining in any case. They've already started complaining about the cost of LFTs before any anouncement . The government should have removed the vat on all travel testing and set a price cap for tests.

The overiding reason for people not traveling is the traffic lights system and the uncertainty surrounding it week to week, if we had robust testing it wouldn't be an issue.

However, nothing the government does other than completely scrapping testing will appease them, which they won't do so they're stuck between a rock and a hard place.

Voting deadline is midnight 25th

No problem chrisToffer. Cheers

Porky, read the 2020 finals. There was a significant vat and tax bill to be paid from the 92m cab. They've actually increased cab after that deduction.

None of that excuses them leaving this so late in the day to drop this on shareholders. If Mullis had been up for re election he'd been heading for the door along with 1 or 2 of the neds. They willfully held back this information and some serious questions need to be asked about their remuneration. Little wonder they didn't want an in person AGM. They would have got slaughtered.

There was a vat bill outstanding in the final, probably explains the cash burn. This is why I voted against their appointments, particularly the Ned's, it's St as if they've deliberately held back information to allow the CEO to skip off without accountability.

Midnight 25/9 is the deadline.

Dunchallas, you're not the first to express their concern about the outgoing CEO jetting off into the sunset, handsomely rewarded while potentially leaving a flaming bag of dog turd on the doorstep of shareholders. I've already voted against the appointments and the capital raise resolutions for largely the same reasons you've given. I was unaware that the BOD had been pressed on and refused to reveal the details of GMs severance, I wonder if they would have dismissed such a request from an institution holding say 10% or so.

The 100m guidance is predicated on H1 of 54m, 41m of DHSC sales is discounted from 95m figure because they are in dispute.

Well, at best 4% of the company is in institutional hands, there's never been a better time to communicate your frustrations by voting and actually having an impact. There's at least one director up for election to the board who's never purchased a single share in the company since joining.

Enough information? We don't have any. All the while we rumble on towards the CEO retiring in to the sunset with a massive payout and no accountability, all conveniently wrapped up in an NDA.

Everything you've suggested there WBAFC is not only illegal but would likely result in certain BOD members doing time. While I agree that they don't give a flying F about PIs, we're all they have. They will struggle to form a quorum at the AGM and will have to work hard to even ratify the new CEO at the first time of asking with 25% of SH required to take part in that vote. About time they gave PIs a reason to engage.

Thanks blue light, yes missed the ex rights rns.

Have to agree @ brentw1. Went and surfed early doors rather than fret about NCYT, expected more volume and more of a reaction, market seems uninterested with the exception of the usual clown shoes gobbing off on AFN. EZJ down 15%, seems Sajid didn't soothe the airlines nerves yesterday.

Reformulated for 2021 and in promate form as well hopefully.

Saying you want to get rid of something and doing it are two different things, as always with the mail, jumping the gun. It's a shot across the bows to the test providers to get their house in order, reduce prices and actually delivery a decent service to the consumer.

It's the daily heil, I'd take what they publish with a huge pinch of salt. They've been lobbying for the airlines for months, always an agenda.

There's perhaps a kernel of truth in the story, the government may relax testing for green countries. How many will remain green though through the winter?

The majority of our sales aren't fit to fly so unlikely to affect fy expectations. Makes you wonder why NCYT haven't released the saliva antigen test to capitalize on that market, even self certified while awaiting regulatory accreditation. All of them will need it in November though, there'll be a lot of antigen tests getting pulled from the market as a result.

Never ever trust management of AIM companies, that's why I was wary of the resolution relating to capital raises in the upcoming AGM for NCYT, admittedly they'd struggle to pass such a dilutive and discounted placing as GDRs as they don't have the voting support to pass it. We are fleas on the camel's back though as far as management are concerned, they don't give a damn about PIs.

It is healthy to be skeptical about our investments regardless of how rosey things appear. I don't for one moment think the management would think twice about diluting us out of existence if they could bring IIs on board because at the moment they can't pass anything without the acquiescence of a huge number of disparite individuals in the UK and France, an imbalance they must be itching to address going forward one way or another. Let's hope it's addressed in the open market, with a mutually acceptable dispute resolution being the catalyst for II interest.

That's the second time GDRs management have kicked their shareholders in the nuts with nothing to show for it, no sales, nada. Even more sickening for them considering that this placing is at a massive discount to the previous one. No doubt it will be punted as an opportunity to average down (again).

Their response to the self test LFT question was laughable. The biggest commercial market for LFTs in the UK is currently fit to fly which isn't impacted by the supply of free NHS tests as they can't be used for that purpose. There is no commercial reason not to release the product as soon as regulatory approval is given.

The product was due for release before end Q2, we're now almost into q4. It's late, probably because the regulatory landscape changed in July and they're likely having to jump through more hoops to get approval. They should have just stuck their hands up and said 'yup it's late'.