Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Nice to see a strong start here, good sign for the share price this week ahead!
Very informative RNS, in depth summary and a taste of what is to come. Good diverse interest, how can you not be excited!
It is amazing how similar today's 1 day chart looks to the YTD. Talk about 4 seasons in one day.
Been in for a while and my average was pushing 20p. I didn't manage to do it yesterday, but just topped up to bring my average down to 8.7 now. Feeling confident that my 8.7 will be beaten in the near future.
Looks like the news about relaxing social distancing to 1m and getting the bars re-open is being well received, nice to see this recovering here, think this will continue to rise which will make the extra shares available a great deal.
Fundraising to raise gross proceeds of up to £11m
from Regulatory News | 19th June 2020 09:32
RNS Number : 5033Q
Omega Diagnostics Group PLC
19 June 2020
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION ("MAR"). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
19 June 2020
Omega Diagnostics Group PLC
("Omega" or the "Company" or the "Group")
Fundraising to raise gross proceeds of up to £11 million
Funds to further COVID-19 testing opportunities and scale up manufacturing
Notice of General Meeting
Omega Diagnostics Group (AIM: ODX), the medical diagnostics company focused on CD4 and food intolerance testing, announces that it has raised gross proceeds of £8 million via a heavily oversubscribed Placing and Subscription of 20,000,000 new ordinary shares of 4 pence each ("New Ordinary Shares") to both new and existing institutional investors and a number of wealth managers at an issue price of 40 pence per New Ordinary Share (the "Issue Price").
Furthermore, the Company proposes to raise up to an additional £3 million by the issue of up to 7,531,100 New Ordinary Shares pursuant to an Open Offer to Qualifying Shareholders at the Issue Price ("Open Offer", together with the Placing and Subscription the "Fundraising"). The Issue Price represents a discount of approximately 27 per cent to the closing mid-market price of 55 pence on 18 June 2020, being the latest practicable date prior to this announcement. This discount reflects the rapid rise in the Company's share price from 11 pence on 8 April 2020, immediately prior to announcement of Omega's participation in the UK Rapid Test Consortium.
The net proceeds of the Fundraising, amounting to between £7.5 million and £10.5 million, depending on the take up of the Open Offer, will be used to exploit opportunities the Company currently has with COVID-19 testing, to scale up manufacturing, to undertake work to improve the margin of its VISITECT® CD4 products and to expand its lateral flow product portfolio with products which are complementary to its VISITECT® CD4 products.
Summary:
· Placing of 19,950,000 New Ordinary Shares ("Placing Shares"), split between 7,515,350 First Admission Placing Shares, and 12,434,650 Second Admission Placing Shares at the Issue Price to raise gross proceeds of £7.98 million.
· The Placing Shares have been conditionally placed by finnCap Ltd with new and existing institutional and other investors (the "Placees").
· Direct Subscription of 50,000 New Ordinary Shares at the Issue Price to raise gross proceeds of £20,000 ("Subscription Shares").
· Open Offer of up to 7,531,100 Ne
Pubs and bars to start re-opening 2 weeks from today (June 22nd). There is huge pent up demand for this, especially amongst the 20-30 age bracket many of whom have been on their own during lockdown. Demand will be huge when the doors open.
https://www.ft.com/content/72edead1-80ee-4787-8818-aacfd84ed638
Not specific to only RBG but I do see the bigger chains doing well in the next couple of years.
Pre-covid smaller independent bars were gaining traction, but I think the future is going to be tough for anyone but larger chains.
The policies and training around operating under social distancing measures will be long and complicated, much easier to roll out to multiple venues than do it all for just one bar.
Apps are going to be crucial, for ordering and monitoring numbers, again almost impossible for the independents to make this work as smoothly.
It is also becoming increasingly clear that as clusters of higher virus incidence happens and r number rises, then some areas will return to lockdown. This makes stocking and staffing a bar or restaurant really hard, just as you prepare for a busy week with lots of supplies and staff, you could be closed for weeks and end up throwing stock away. Being part of a chain allows you to move both stock and staff around.
Staffing could be key, because if track and trace takes hold, one staff member tests positive then everyone who worked with them will have to self isolate for 2 weeks, leaving an open venue with no staff.
I see lots of smaller chains and independents closing down, increasing demand for larger chains like Rev and if they have extra funds available could be some good locations available to open over the next couple of years.
Appreciate the dilution of shares comments, but there is a big opportunity here for a bold chain.
Don't have any specific information about this test, but with other POC tests the problem is normally the other way round. Rather than a positive test fading to now look negative if read again after 24 hours, the positive indicator can develop with enough time so a negative test can eventually look like a positive test. The best example of this is urine dipstick testing for infection etc.
There is a definite time to wait before interpreting any POC test, but also often a ceiling time to be able to interpret them. Hope this helps.