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Does the recent 75% SP rise in Nova indicate the market/everybody but the BoD of Ygen know they are buying at an absolute bargain price or just pure unfounded speculation. Maybe voting down the current offer might be worth the chance of something better being forced along. Really not that much left to lose. You can always live in hope.
Another offer will be needed otherwise ii will have to go with what's on the table. They obviously can't just walk away with nothing just to spite the CEO.
Milne buying again, hmmm! For himself I wonder?
The novacyt share price cannot be chalked up to buying Yourgene 'on the cheap'. What you have to understand is that prior to this news there were doubts whether Novacyt could use the £87m cash they had or whether it was ring-fenced due to the DHSC dispute that now has a court date for June 2024.
With absolutely no news from the company the market cap trickled down from about £180m fifteen months ago all the way to a ridiculous low of £25m a few weeks before the acquisition RNS. Obviously the news has caught the market's attention as novacyt buy a competitor with decent potential, pay off all their debts, and still have over 75% of their cash left in the bank.
If nothing else, you have to acknowledge the sheer seamless audacity and hypocrisy and dismissive arrogance of LR, commenting nonchalantly as follows, as if it’s business-as-usual for the shareholders he effectively destroyed:-
“This provides us with a good opportunity to further develop exciting market opportunities in NIPT across many key markets."
Half a p opportunities, anyone?
Maybe the sudden Novacyt price rise and increased dealing over the past two days has more to do with our news this morning?
Indeed. Used to clamour for news. Now it's makes not the slightest difference. ONLY another bidder at least is of any value! Well done AR and clearly in tone deaf comments you could care less about shareholders
Typo should be LR
Anyone going to the meeting to protest, maybe call out LR in a Just Oil fashion?
One cld always remind him of his "boast" to create, was it not, a £500M Market Cap company. What cld possibly have gone wrong!!
Looks like the update in this RNS is there to sway those unsure about the vote that there really is no alternative. Cash burn looks to be on the up again and projections are hardly inspiring.
Well done to anyone who started to move into ncyt prior to their recent rise - looking at their trading update this morning they are also burning cash but have the luxury of a big cash pile. We’ll be adding to the cash burn quite substantially by the looks of it - at this moment in time I don’t think I’ll be following ygen into ncyt.
No doubt if i don’t ncyt will continue to rise but I have no faith or trust in this going forward.
The fact that nobody else is interested in buying this apparent bargain is also concerning.
Growth of over 20% and all to market expectations. Have you seen Ncyt update?
I disagree - cash burn is c£400k per month excluding the loan repayment so it has reduced slightly - we have about 4.5 months of cash left and $1m to come from the Taiwan disposal so c.7 months including that.
The problem is a payment to the Coastal Genomics sellers is due in September so we probably could last until the end of October unless we defer the CG payment.
I am still going to vote against the deal out of sheer bloody mindedness and nothing more to lose - if we had competent, honest management there is a way out of this without underselling to NCYT.
Hemo, it will be done and dusted before ygen runs out of cash. Not sure it's better to vote against though. Another suitor is the only way this situation will improve. I will vote for Andyken.
Just glanced at the scheme document.
Our fees relating to the acquisition are an eye watering £2m.
So without another bidder this deal has to go through because we are literally toast without it.
I will vote for it on that basis but hope for another bidder but that seems very unlikely now.
I indicated my support for Andyken sometime ago but unless more holders come forward that will not be workable.
I for one will be opposing it. Would rather lose my investment than let LR and Co make a mockery of the situation
Mt500, have you got behind Andyken yet? That's the best way. Can't see the point of losing any more and voting against.
Hemo, there's plenty of time yet for another bidder. Hopefully DD going on as we speak..lol
Let me know where to sign up
Andrewkennedy079@gmail.com
Can anyone remind me of the ye 24 forecast revenue.
I would assume any interested bidders would make their offer within next 3 weeks.
Let's PRAY we are in active discussions and due diligence is currently being done - by numerous parties!!
Do you think likely Twix? I just can’t see it happening now.
I certainly think it's possible and should actually be probable so in theory over 50% chance but one thing I have learnt is their ability to ultimately disappoint is near alarming! currently I'm slightly optimistic we can secure a bid 10% higher in spite of our track record.
We have a new countdown clock ticking!!!
What makes you think that given the court and general meetings are 3 weeks away?!! Any later and it would be too late…