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Looking forward to the results, can any of you comment on why they would RNS letting us know when they are producing them rather than just producing them on Tuesday? Is it to create some buying pressure?
Its regulation. A company must announce the date of results in advance.
It's because they'd previously said 29th June, can't just drop them on the he market.
We've either reached resolution with the DHSC or we're going to court imo.
Sir Digby, if resolution with DHSC had been reached, that would have to be RNSed straight away. As would any change in expectation of income. So I now expect the results next week to reiterate the position outlined in the previous RNSs. I did have a back of the fag packet valuation of around £7 based on previous anticipated revenues. As they have halved, then, yes, £3.50 is about right. But, critically, this is without factoring in future revenues. The roadmap to the future, which I strongly expect to be included in the results, will be the major factor which sparks the reraye.
Resolution or no resolution, surly we shall learn as to the amount that is under dispute? Might be £15 million....could be £75 million, however the uncertainty shall be gone!!
Urraca, how have revenues halved? The entire amount from the contract won’t be up for dispute. We know circa £150mil of services have been provided, the gov can just say thank you, we’ve used your products but now don’t want to pay.
There will be a portion, how much is I know that will be involved in the dispute. If that has been agreed x amount (the amount not in the dispute) will probably have been included in the audited results. Following Tuesday I expect we will know how much the dispute is for.
Frankly unless it's 700m (the negative impact we saw on the share price) it will see the mother of all rallies.
Bluelight you are exaggerating. DHSC dispute arguable wiped off 50% of the share value from £6.90 a share to £.3.40, £250m worth. If the dispute were to lower the cash pile from £90m to £45m that sort of fall is in line with what you'd expect.
Personally think we'll come out of it fine but the fall is more understandable than you're making out. Looking good today...
and possibly discreetly counter shorts, by setting a time limit and quite frankly it is about bloody time! this went on far to long... hopefully the tide will now turn, especially as the saying wouldnt want to be out over the weekend, actually means something this time :)
True slight eggsgeration, but a fall from 1200 to 300 odd in a few months despite increased offsetting private sales does highlight the loss of value and potential recovery
Talking of private sales reposting of this document from yesterday
https://www.gov.uk/government/news/government-sets-out-laws-to-validate-accuracy-of-private-covid-19-tests
So on Tuesday, I expect to see a reduced headline revenue figure and a corresponding provision on the balance sheet re. the dispute. UNLESS we are going to announce the conclusion of the dispute at the same time as releasing the results.
On two occasions in 2020 we did double header RNS's;
25th March: Global distribution agreement with Bruker & contract manufacturing with Yourgene
8th April: WHO emergency listing for genesig & AZ, GSK & University of Cambridge partnership
What is interesting is that they'll have known about the change of currency for the full year results for months (it's not the sort of thing you decide overnight), so why leave it until the 11th hour to announce the change?
I suspect they've been lining up their proverbial ducks whilst keeping everything under wraps.
in my view the only reason to bring the reporting forward is because the dispute has been settled. Otherwise I don't see the need nor wish to do so.
And no urracca, I don't think the resolution of the dispute has to be reported immediately because the dispute itself was also not reported immediately.
MS
If the DHSC dispute has been resolved DHSC officials know about it. It is market sensitive information. They have a duty to report it to the market immediately.
Urraca, Yes, NCYT would have to make an immediate announcement should the dispute be settle, however there may well be a firm offer on the table from DHSC which the company has not yet formally accepted, my guess is that an offer arrived earlier this week, formal acceptance of that offer is now likely Today, over the weekend, or Monday.
Maybe the Govt though the DHSC have been playing Chinese chequers.
Graham has probably been playing chess.
Urraca....I agree, it would have a immediate material Impact on the SP and there fore should be released as soon as they have 100% confirmation. Who knows maybe a separate rns today
First thing, I hope the change in date is not a typo LOL.
Publishing the accounts a week early is very positive for what ever the reason. I doubt it will be the DHSC dispute is completely solved, it could be that they have made some progress. These things are obviously complex, and it doesn't boil down to a yes or a no on a particular day.
I really hope they leave the Bourse, even just to AIM would be better.
Was the dispute RNS,d immediatly ?
A court case would have to be RNSed too.
Not sure how to take today's RNS. Either very good or very bad, but wtfdik, I'll just hold.
Mr Big...Exactly! If the arbitration had come to an end and the talks had failed this would have to be announced immediately. The most likely current scenario is that DHSC have made a firm offer, an offer that NCYT shall formally accept and announce to the market in the coming days.
Dartron, -
The DHSC dispute IMO is stopping those with a mind to make an offer for NCYT at the moment.
As GM wants THE OPPORTUNITY to build a mid-cap company, there is nothing better than a dispute with the number one company to stop bids arriving. All the time GM is not dealing with bids he is growing the business, and mid-cap status is near at hand. GM won't finish with DHSC until he has to, - but that still might be soon.
correction - number one customer
I think people are making valid points, however, there has been a material change in the situation for good or bad imo. You don't delay your results to the last practical date and then move them forward again on a whim. Obviously I'm hoping for a beneficial outcome.
I'd agree with many on here, we're going to see a move away from the french bourse, it's been a millstone around the neck of this company.
B2h.....I kindly disagree, any of the big pharmas won't let the dispute with the dhsc get in the way! They will be looking at a long term investment, and won't be worried about the dhsc amount that is owed, when future earnings will be multiples of what we have now.