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Twatcher, yeah you're so factual. You have spent all morning implying that the sells are a sell signal. I note that you never thought to explain the nature of EMI options did you? The 'third unapproved scheme' sounds like an in house version of the EMI options.
You are as bad as ever with your nonsense. It makes no difference. Next Monday we will hear about the exit plan from lockdown and it will be game over. You still won't have invested. You will still be standing with your nose against the window hoping against hope that the sp will miraculously drop just for you and we will be seeing our investment start to really come into it's own. Sad, sad and sadder.

Their gross assets won't be £30 million at the moment either. But very soon they will far exceed that in just one move- a massive government contract.

HD27, nothing to do with tax. They have been awarded free shares- EMI share options. It's available to small businesses. Once you are not a small business you cannot award EMI options. They are cashing in their free shares *which are also tax efficient yes, before they are not allowed to hold them. That's all from me today.

Can't believe anyone investing doesn't bother to check the rules about EMI share options. They aren't allowed to keep them once the company turnover exceeds £30 million. So it's not a sell signal. It's a big buy signal.

Ok I will spell it out. If you are an employee of an SME with turnover of less than £30 million you can use EMI options as incentives to help recruit and retain talented employees. If your turnover exceeds £30 million you cannot. If the employees of a small company know that in the very near future your turnover will exceed £30 million and they will lose those very tax efficient shares you are going to sell before such a time occurs when you lose those very tax efficient shares. They are selling because they know that the company are going to be getting a huge government contract within a few weeks which will take them outside of the size of a company which is entitled to award EMI share options.

There are restrictions on EMI options which include:
1. A company with revenue over £30 million and
2. A company which is owned by another company.
Neither circumstance applies at the moment.
There's big tax advantages to EMI options to encourage small, medium sized businesses and is designed to support recruitment and retention of high performance teams.
I wonder if they know something we don't?

Kahuna Jim, good point. As JAdam has pointed out they have picked ODX as the manufacturer of choice. Don't know why? I expect because they are the best able to manufacture flexibly at high quality. They had to bid. When I worked as a consultant our sme often won big government contracts over the big 4 because we were the best for what they wanted at the time. So it's a massive demonstration of credibility which will apply for the future, not just for this win.

John Henry just floats around all the covid shares deramping. He's on quite a few filter lists. No way is he an investor. Just a sad attention seeker. Anyway I am meant to be swooping not chatting!

Kahuna Jim, It means that instead of waiting for the Mologic test and praying every day that it's the best- we just need to wait for the best test to be approved and we will be making it at massive scale. 2 million a week. They have approved 5 tests but obviously they don't think those are necessarily the 'best'. Looks like it's either Mologic's or Avacta's. They want to commission from UK diagnostics firms going forward so the options are fairly narrow for lfts.

Can't wait till next week! It's just so easy because it goes in the right direction every day aside from a couple of dips. Looks like GDR investors are nice and confident in their decision. Not surprising! Bit annoyed that I was engaged in a conversation elsewhere today and missed that little dip because I am looking for a chance to swoop for another decent buy-lol. Must pay more attention!

Avastar,
Absolutely! It is chocabloc full of treats! We have been sitting patiently all this time waiting for results from assessments and evaluations of our tests to come back and now- we know we are getting the best available test! And we know we are going to be manufacturing them at scale with government orders sufficient to meet the needs for the mass testing programme outlined by this government! Schools- twice weekly, care homes- twice weekly, workplaces- twice weekly, communities- free testing. Umm. Who else could we be testing? Kids- yep. Workers-yep. Older people-yep. Everyone else-yep.

This is a link from the Metro because it hasn't got a paywall - the Telegraph have the story too. It's flagging up that the roadmap out of lockdown is due on February 22nd or in the week starting 22nd . As we get closer to that date more and more papers and the TV will start flagging it up. When that announcement comes ODX are going to be front and centre stage as an example of the UK government bringing manufacturers and test designers together to work collaboratively to give us the best lateral flow test available.
This sp has always been manipulated. It's a popular share. It will go ballistic when we get an RNS confirming a huge multi million pound order as our first order from the UK government as preferred manufacturing supplier for lateral flow tests.
Most firms with orders for lfts have been paid up to £10.00 a test. We know we had a deal as part of the RTC for antibody tests for just £1.70 per test at about 70% profit margin, rising dependant on scale up to a limit of 250,000. So any orders over that could earn us more and exports and commercial sales will be double/treble that. We are now in a new consortium. It's all a bit cloak and dagger until 22nd February but the RNS yesterday confirmed press reports and tweets (not from ODX twitterati but from Chris Molloy, the new chair of the new Rapid Antigen Test Consortium). This may be hard for us to absorb because all these decisions have been made behind closed doors but they have been made and we have been informed. Information is gold.
There are some unknowns with this relatively new information. What is the pricing policy for manufacturing the selected lateral flow tests? My assumption is that it will be at least equivalent to the £1.70 previously agreed but it could easily be a bit more. ODX have had to invest considerably to meet the government's demands and they still haven't followed through on the antibody tests (separate issue- it will be addressed when the time is right for the vaccination monitoring programme if the government decide to enable us to engage in assessing our own health management- scientists and government are now discussing to what extent we can 'live with the virus once we have vaccinated all vulnerable groups- also being debated in the papers).
But on antigen lateral flow tests- it's perfectly feasible that we have the same deal as before and equally feasible that we have a better one. If Mologic are selected they have a low cost pricing policy which is still much higher than the ABC19 subsidised price agreed with government. Mologic are obviously a likely candidate because GAD (their sister company) are also one of the three named in the Financial Times. Why do we care whose test we make though?

Kahuna Jim, yeah me too on both counts. M is on my watchlist too. But we should probably not discuss other shares in trading hours. :)

Hope you got a decent buy in price Kahuna Jim.

Respectfully Starbright, I can read. L&G started selling shortly before that deal was announced and they have continued since. That's the point from my point of view. Their prerogative. The volume of shares yesterday far exceeded reported buys and sells. Not transparent. It will help sentiment once we get the TR1. That's what is relevant to me as an investor.

We have to wait for a TR1. I think they could have sold their remaining shares actually.

Starbright, I understand fine thanks. The FT covered it at the time. L&G are selling and have been selling as a consequence. They want a better focus on other parts of their business.

Computer, wtf are you going on about now?

They paid for parts and supplies for Surescreen and GAD as we know. £3 million each. They will probably write that off. The only messing about is from the market makers. Colin is a straightforward CEO. He's not an experienced multinational CEO. He's in a difficult situation. He's won a multimillion contract to produce whatever tests are approved and he's expanded his company at pace. But he can't be as transparent as he wants because of the government relationship.
I am also in GDR. By way of comparison, they have massive news coming soon too. One of their iis is selling. The broker told shareholders on the same day that the sales came over the reporting threshold. Very different way of managing the market.
Still no TR1. Which would help to explain to shareholders what went on.

Kahuna Jim, the contract news wasn't priced in. Before the week starting 22nd February we will be getting some press coverage. In the week starting February 22nd the government will announce their exit plan. Yesterday the broker was getting rid of shares from Legal and General who have sold their investment arm. The objective is to sell those shares at a low cost so that they can sell them again at an increasing premium as the days progress until we are centre stage featuring as part of the government's exit plan. Obviously massive selling in one day has an impact on confidence.
ODX investors wouldn't have been selling due to the trading statement suddenly only a week before massive news. We know that they were a small, medium sized company who have dropped everything to support the country in a pandemic. So their normal trading has been disrupted.
The contract could be for anything from £100 million to £250 million imo. It is from the first £1 billion contract for lateral flow tests. It's a drag on sentiment that there isn't more transparency. It will pick up steadily and then re-rate after 22nd.