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I wonder who Yellow Pig was on this BB because what he was telling us right back in 2021 was so accurate about Novacyt . I was new to AIM and hadn't a clue with knowing that CEO of companies can be corrupt and destroy investors. Everything Yellow Pig was saying from 2021 is true. I wonder if Yellow Pig from Twitter will show himself again this BB. Maybe it was PI100 ?

Did this chap know something way before anyone caught on with what was happening at Novacyt ?

https://x.com/FastMoneyAIM

Wilson you are absolutely right to call out whoever agreed to pay Graham Mullis GM ~ £10million for LTIP . This was criminal , GM did not earn that money , because that second DHSC contract was void and he only reached that LTIP target due to that second contract . James Wakefield and those agreeing to the LTIP should resign now because you are a disgrace.

Captainswag , you must have a low SP average to go at 70p. Most people who invested after April 2020 in Novacyt are going to be on average well above £3. So many can't afford to take that much of a loss . The SP was £6 , October 2nd 2020 and went right upto £13 .

David Allmond stated in 2022 that £10million was used for R&D . Can anyone explain what was the product / outcome of that investment ? Or was this a crafty way of channelling money into directors pockets ?

Valju , okay let's say we get enough shares to vote for EGM and then what ? Who would we bring in to replace the existing directors. My feeling is Lyn Rees is a strong character and aggressive in mindset. He will dictate where Novacyt goes now and if it means throwing all cash into Yourgene till and requiring a placing then he will do it. Lyn Rees is obsessed with Yourgene , so far he has spectacularly failed since being CEO there in 2018 . Lyn Rees was not bothered that he trashed the private investors of Yourgene, but he saved himself though ! Where is Novacyt going and start bringing in big contracts ?

Why hadn't Novacyt BOD go out and buy Genedrive last year ? Clearly , the BOD hadn't done enough due diligence into Genedrive. How long are we suffering Novacyt shareholders need to wait before we get any exciting news to propel the share price and save our investment ?

Lyn Rees seems to be banking on Joanne Mason for new products . But she doesn't seem dynamic to me to be honest . Lyn Rees been CEO of Yourgene since 2018 and not one year turned the company to be profit making. Staff need to be cut by a further 30% to reduce costs I think.

..... but the BOD @ novacyt were basically bluffing all along with their 'strong grounds ' nonsense , to string investors along

So captain what you saying is we won't get to £1 unless we start becoming a profit making company... this was why I was hoping Novacyt won the DHSC case and £80m because that would have taken the SP to £3-5

What I have noticed so many times last 4 years is that this share is simply a traders paradise.... traders will buy and sell this share for just a 1-4p profit. That's what I think. Look how many shares were dumped today after being bought just yesterday and we only had an 8p increase. Long term holders are screwed because what you need is large contract wins / increasing profit news and cumulative positive RNS in order to get this to £1 -->£2 -->£3 -->£4 -->£5 -->£6+

Pebble101 i think Amer was fobbed off with that question of IR . James Wakefield coocoo didn't know what IR was and had to be told by Lyn Rees

Well done Amers , i thought it was you , you have a West London accent . You should have reminded them that there are lots of private investors who have bought in high above £5 and are losing their money and that they need to get their act together to improve SP

I watched the AGM and was impressed by the caller who asked about the DHSC dispute - 'case for strong grounds '. This really should have been also directed at James Wakefield to get his response . But he kept quiet and as usual looked very lethargic and slow in speech . Lyn Rees talks well , but i have serious concerns about this guy and that is he is like a sales person that talks well , but delivers kakka ( meaning fu+k all ) I am worried he is just taking his huge salary until the cash runs out and he jumps ship . Novacyt basically saved him , how damn lucky is this guy to have come out of Yourgene intact with his investment but he screwed their shareholders .

The mess and detrimental effect of this share price of Novacyt has been due to the negligent way that the Novacyt board of directors have prepared the contract with DHSC . Was this second DHSC contract rushed through by Graham Mullis and Anthony Dyer so that they could get their target for LTIP ? The fact is if that contract had been absolutely tight proof and had protected Novacyt with the correct wording , then there would have been no grounds for the DHSC whatsoever to go back on their agreement . We shareholders who invested in 2020 at such high prices would not be in this mess now . Novacyt would have received their second contract money , there would have been no DHSC dispute and the money received could have been used for further M&A . The share price would have maintained above £10 and with further M&A would have gone higher . We would be talking about a company right now that would possible be a mid cap company now .

Whoever was responsible writing up that second contract and making sure Novacyt were protected have not done their job properly . Who is responsible for that contract ? Is it Graham Mullis / Anthony Dyer . If its them , then they have rewarded themselves with the LTIP millions and screwed the private investors up and left Novacyt the company in a big mess when they left having to pick up the DHSC dispute . Is this why Graham Mullis was booted out , but then why give him the LTIP reward ?

Olivergill, its hold and see what this useless BOD do now . Too much money in loss to sell up . I guess , i have accepted the BOD are going to run this company down , draw high salaries / bonuses to give to themselves and when cash runs out they jump ship . Sad really .

HC , its the fact that he has predicted BOD are negligent to shareholders and have basically destroyed shareholder value with no forward guidelines . He saw this coming in 2021 . Its impossible to know exactly how far the SP will drop .

Globetrotter184 , I read all your posts over the weekend and you are absolutely correct with what you wrote every time . I wished to god i had sold completely all Novacyt in February 2021 - March 2021 , I wouldn't have lost any money then .

Read Globetrotter184 posts , all his posts and he is spot on every time . Clearly he is a experienced investor and saw what was happening at Novacyt way back in 2021 and predicted the poor performance of BOD was coming .

I remember there was one individual who was on this board in 2020 - 2021 and who had stated he had invested £1 million in Novacyt at an average of £8-£9 per share . I remember he was destressed when the share price crashed on 9th April 2021 following Graham Mullis's RNS at 12:30pm that day . I am not sure if he is still holding his shares or average down or simply bailed out with huge losses ?

During 2020 i was looking to invest my money into a ambitious company with huge potential for growth . I heard about Novacyt with their big contract with the DHSC and that interview given by Graham Mullis in October 2020 , he talked about Novacyt developing into a mid cap company , and a ambitious company with huge growth potential. This is what actually made me invest in Novacyt . This was my first investment in the stock market . Admittedly , i am a high net worth individual , and was looking for a company with huge potential for growth . What turned out over the years as been no short of a total disaster for me with this investment . I simply did not think one moment in 2020 about the risk of investing in this company as i never thought the DHSC contract would be void , nor did i every think that CEOs of companies can be corrupt . Its only after 4 years now i see what Graham Mullis has done here . He was hyping the share price to benefit himself from the LTIP in place . He walked away with ~ £10m and left so many share holders in massive losses . The decisions made by the Board of directors at Novacyt have been wrong to award Graham Mullis and Anthony Dyer the LTIP . The DHSC contract awarded was void and cancelled . So in my eyes the LTIP awarded to Graham Mullis and Anthony Dyer should have been delayed until clarification of DHSC case was clear to all .

What actions can be done against Graham Mullis and Anthony Dyer now ? Can Novacyt or we shareholders contest this LTIP and demand return of money which was given to them ?

My £660K ( @ average SP £5.81 ) invested in Novacyt is unlikely to return back to me i feel , i have lost my money , but will hold , i have no choice really .

Novacyt the company have ruined and destroyed people like me who were genuine investors because of their poor performance over the last 3 years . But Novacyt board keep passing their resolutions every year , which is astonishing due to the backlash from private investors .

We really need answers from James Wakefield who really is not in it for the best interest of shareholders in my personal opinion.