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“The note” from the outgoing chancellor, that thing that everyone knows is a long standing tradition and joke.
As if there was no money left, have you seen how much the tories have stolen and given to their mates over 14 years? They’ve decimated public services to the bone, massively increased debt and raised the tax burden to the highest since the war, yet there is still ‘no money left’.
Theft, pure and simple.
This will be too embarrassing to go to trial - The UK Govt DHSC appears to be on the ropes and typically they have been stringing this out like Ariadne's ball of yarn. If settlement is reached this share price will explode upwards like that scene in Alien, exiting actor John Hurt's stomach at warp speed.
Now 72p paid - But may just be because no -one is selling before the trial. Having held on this long why would you?
"can't see any reason why the DHSC would drag this out longer and longer. "
The reality is that court is a game for the legal team. If they feel they can eak out an advantage they will .
Just as gov team tried by getting a quick decision in April and twiggers seemingly tried by not producing report requested.
If the gov legit feel they more time with the late report or they can get away with it..then I am sure they will try .
The advantage is that we seem to have a decent and sensible judge...however this is clearly an important trial...maybe even groundbreaking in terms of the decision. So she will want to play by the book..in terms of any future possible appeal etc
If there is a delay it will prob be only months...I suspect the backlog from covid etc has been reduced?
But saying that.
If there was a delay I would have expected an rns
So my guess is that it is all battle stations got next week
If a settlement is reached in working hours wouldn't there have to be an immediate suspension of trading in the share otherwise it would leak. The weekend would be a good time for the lawyers to earn some overtime whilst the market is closed. What's another few tens of thousands when a settlement either way is in millions?
If this does get settled out of court, which is looking more likely than ever considering news recently of Rishi’s Covid profits from investments in Moderna, the election and other court failures. We can then add the Bird flu scenario on top of any re-rate. The MM’s know it changes the game completely for this company. And they’ve been smart to not just tie themselves to pandemic testing with Yourgene.
The gov have certainly wasted a great deal of money and the public know this.
I agree that the courts are independent and the gov have no pull, so I have faith that the decision will be based on the facts. As you say not long now!
That'll be why George Osborne found a note in the treasury from the last labour government stating there was no cash. Gordon Brown had ordered it spent and the Civil Service complied.
A Tory government is never popular with civil servants. What’s the old saying? You don’t have to be left wing to be a civil servant… oh actually you do lol
The civil service will want to have as few issues for a new government to sort out as possible. Not sure the current government is very popular with civil servants so may not mind too much if a settlement is harmful to them.
Amers - have done before and here it is again. No issue with doing it.
Novacyt SA
£1,054.58
Change
-5,155.53 (-83.02%)
Quantity
1,574
Price
0.67 GBP
Cost (£)
6,210.11 GBP
Price +/- today (%)
8.77
Indeed you’re correct and I’m aware of that, it’s all a rather convenient coincidence though. My main point being the DHSC won’t settle prior to the election. What a meal the Labour Party would make of a huge settlement prior to election day!!!
Over £13 a few years ago to 60p
FWIW - here's to it 'blowing up in their faces and there’s a huge payout to Novacyt'. 😁🎆🎇🧨
Hearing out-of-court settlement discussion going on.
As it’s a government body, run by faceless civil servants who never have to suffer any consequences for their actions, they can string it out for as long as they like. It’s costing them nothing on a personal basis and if it all blows up in their faces and there’s a huge payout to Novacyt, none of them will lose their jobs or pension. In fact, generally under those circumstances they get a bonus for doing so badly
drew / k kid. the government ****ed away billions in unwanted and unused ppe kit. this is a mere drop in the ocean. neither they nor the public will really care. no strings being pulled, the courts are independent. not long now.
Kamakeriad, the trial date has been known about since Jan 2023, the election was called a few weeks ago.
Who arranged the trial date? Mystic Meg?
That’s the concern, but that would mean that lots of stings are been pulled at high levels in gov and the barristers been instructed to delay the trail, How could a judge allow that to happen? !
The chart looks really strong. Looks we are very close to update.
I completely agree with you that it will only costs the DHSC more cash in the long term, my thoughts are more based on the actions of DHSC so far and lack of accountability of any individuals and their inability to take any responsibility for their actions etc. IMO it makes no sense for the DHSC to allow this to get to this stage let alone go to court etc.
I think the timing has been arranged to fit in well with the election. No news until (probably late in the day) voting day, 4th July. Can you imagine how damaging a large out of court settlement of say £100-150m would go down with the voting public?
I can't see any reason why the DHSC would drag this out longer and longer. They aren't some nefarious misanthropic organisation, they are simply the department for health. The initial attempt might have been to strain Ncyt and hence win the case that way but dragging it out longer now will simply lead to a bigger eventual payout to Novacyt (they've proven they can last it out) and more taxpayer money doled out.
My concern is that the DHSC are playing for time or to delay the trail. Perhaps using the strike out and now saying that they do not have time to prepare for the trail as it was only a few weeks since the strike out, or present new evidence which could delay the trail.
I would hope that the Judge will ensure the trail starts unless there is an agreement/settlement reached.
If the trail is delay then that would be scandalous imo, how long would we have to wait to find a 10 day trail calendar window? 12 months ?
PI100 - I have always defended you, even I didn't agree with your posts, but you have ever right to post, what you like. Just like others have. Now be honest and post your holding, just like, I have done from my HL SIPP below
Novacyt
EUR0.0667 (CDI) 46,925
61.60
28,905.80
32,888.56 -3,982.76-12.11
I also have 52,634 in my ISA, but can't figure it how to copy and paste it. Once you have posted your holding, then everyone will be pleased, that you are fully board here. Thanks. Have the balls to post your holding or stop posting cra*p every day. Thanks in advance on behalf of all the real holders.