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Paris, France, Eastleigh and Manchester, UK – 21 December 2023 – Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces an update to the conditional disposal of its laboratory in Taiwan, which it acquired as part of the Yourgene Health plc (“Yourgene”) acquisition completed on 8 September 2023.
On 13 June 2023, Yourgene announced the conditional divestment of its Taiwanese subsidiary, Yourgene Health Taiwan Co Ltd (“Yourgene Health Taiwan”), to INEX Innovate Pte Ltd (“INEX”), a Singapore-based molecular diagnostics company focused on women’s and fetal health, for proceeds of up to US$4m (approximately £3.2m).
As previously announced, the divestment is conditional upon Yourgene completing a pre-Closing restructure (the “Restructure”) to facilitate the transfer of retained people and assets to other Group companies, which must be approved by the Taiwanese Government, and INEX then being granted Taiwanese Government approval for the planned acquisition as required for non-Taiwanese acquirers. The Restructure is now complete, however the various approvals have taken significantly longer to achieve than originally anticipated and management do not expect the transaction to complete by the end of 2023 as previously announced.
Both parties remain committed to completing the transaction and the Group is continuing to work with INEX to obtain the necessary approvals as quickly as possible. Novacyt will provide a further update on the disposal as part of its trading update in January 2024.
AIM-listed Haydale (HAYD) is really scraping the barrel – this morning it announced a grant of £73,610 to be shared between it and Liquitherm Technologies from the Welsh Government, and we don’t even know the proportions!
What we do know is that a division of Liquitherm, Hydratech, has been:
awarded a collaborative SMART FIS to work in partnership with Haydale on the project.
Hmm. Does that sound like Hydratech therefore gets the lion’s share?
This is truly desperate from a company which had to be bailed out yet again just weeks ago at 0.5p per share and the stock is now just 0.41p. The market cap, having raised £5 million (before expenses) in the latest bailout only in September, is just £7.4 million.
As the countdown to the next bailout placing continues, my stance is sell.
Hmmmm think I'll pass.
I'm assuming Andrew Kennedy's efforts have ground to a stop. I wasn't optimistic on chances of success but seems to have aborted before the starting gun got loaded.
Got mine friday.
Just told my broker deadline was Friday and if they kept my cash over weekend I would claim loss of interest.
So hopefully anyone waiting should get it today as it's done and dusted.
Andy Kennedy seems rather a slow burn. Hopefully get some real progress news soon even though I remain sceptical of the only game in town left
I was selling at 16p but have sympathy for anyone buying there.
Cuckoo Cuckoo
This has hit all shareholders and here's hoping Andrew Kennedy can prove to a courts satisfaction - I remain highly doubtful bit worth a shot.
And who the hell are you! An alias NUT. lol
I may have been surprised as we ALL were at developments here but read my concerns over the years. Nobody expected such massive ineptitude but at least I raised concerns that were valid versus the crowd here. My mistake was believing it would not be terminal for us and there I simply joined EVERYONE else in being wrong.
More should contact Andrew Kennedy for the small chance it represents. Perhaps you could educate us on why my view it's only a very small chance is wrong? I can't wait lol
Agree davand and why I signed up, no matter how unlikely I believe a win to be.
I agree davand. No doubt morally bankrupt. Where's the smoking gun of proof worthy of winning in court.
At any given date he will say either that was his sincere belief or data ( his knowledge of it ) supported his comment...try PROVING otherwise.
There will be answers, denials, insufficient legal proof and stories spun to cast doubt or apply sufficient reason for all of it. Have you tried holding someone to account legally and meeting the high bar of proving it to win. The burden of prove is on us. Imv less than a 1% chance, but I hope I'm wrong and it's certainly worth a try and we all agree would be well deserved.
P.s. as I see it his b/e being the buyout price has no provable legal ramifications more than looking suspect....so what! We need to prove intent and malfeasance not just that it looks fishy.
I've registered with Andy and hope it succeeds. My view is there's virtually no chance of proving our claims with required evidence to the level required so it's folly but on the 1% chance (and that's generous) then why not try. Morally there's a case and it stinks. Legally the burdon of proof is too high a hurdle aimho
Yes. Unfortunately Lyn appears not to have been doing his duty of working for shareholders best interests. More for his own. Chairman also of benefit and a nodding mute donkey.
Lyn appears a typical salesman whose been moonlighting at engineering a preferred outcome and acting a part.
Unscrupulous toe-rag who was more than content to let this result win out.
Bloody hope so.
We've made every junction a U turn!!
No other bidder.
Expect Novacyt confident of getting 75%
Why would they offer more.
Problem is with pathetic Stifel and BOD contentment at deal. No urgency or hunger to press. Sold down the river!
What's the last day we could be advised of a new bidder,,,,,is it by c.o.b. Tuesday 15th?
Yup. Not for us though!
Only thing that helps us is new bidder and pdq
Fair enough.
I'd far rather retrieve what I can and hold LR to account via AK and by reputational damage and activism.
Bottom line is only a new bidder for LR to Houdini some salvation imv
I expect being prepared to taking a 100% loss indicates you ha w a relatively small holding as you've been around for some time. Fortunately then your vote us immaterial in the grand scheme.
The way to go is vote in favour, back Andrew Kennedy and meanwhile pray for another bidder to enter with a 10%+ higher offer in spite of what appears to be a weaker than hoped effort from LR who I suspect is content with Novacyt and his secured position with them.
If we do not get a single new bidder then I hope everyone joins in with AK's litigation effort. LR you are being judged because we all know we can achieve a better price!!
For those planning to vote NO.....if there's no other bids you're voting against means if successful we will effectively be a basket case of NOTHING!
Surely the way to go is vote in favour, back Andrew Kennedy and meanwhile keep fingers crossed for a new bidder to appear.
It may stick in the throat but our saviour is only a new bidder. Not a Turkey voting for Xmas. aimho
Well I sure hope it's busy work behind the scenes with the multiple bidders who ate falling over themselves to secure Ranger and a growing core business currently under an underwhelming cash offer less than 1 times revenue!!
LOL