joachim ganzer 8 years of waste Eight years of waste several dilutions of shareholder value and as a result we are all substantially poorer. Writing off goodwill has littel effect on cash in the business. The ongoing lease on the sale and lease back ties up cash unless they can get out of it. In 2010, the group acquired the IVD division of allergy and specific immunotherapy specialist Allergopharma Joachim Ganzer KG, giving further access to a range of allergy tests for over 600 allergens. This gave the group a position in allergy testing that could be exploited in two ways. First, by driving international sales of current products through its existing global distribution network; and second by delivering a panel of automated allergy tests in conjunction with Immunodiagnostics Systems IDS-iSYS platform.In the following year, the group founded a wholly-owned subsidiary based in Mumbai, India providing access to the Indian market for the sale and distribution for the Group companies' products.
German lease from july 2017 Sale and leaseback of the building owned by Omega GmbHOmega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectiousdisease, announces that it has concluded the sale and leaseback of the building owned by its wholly ownedsubsidiary, Omega Diagnostics GmbH.The Company will receive gross proceeds of 800,000 and has simultaneously entered into a contract withthe new landlord to lease the facility back over 15 years. A rent deposit of just under 100,000 will be retainedby the landlord initially but which will reduce in stages of five-year periods.As announced last week, the Company is proposing to raise funds from new and existing shareholders via aplacing and open offer, subject to shareholder approval which will be sought at the General Meeting on 18July 2017. The proceeds from the building sale will be used by the Company for its accelerated growthstrategy as outlined in the circular sent to shareholders on 30 June 2017.
trade volume Today was interesting.There were no large sales . Only small amounts. Also the buys practicly equalled the sales.. Yet 30% down.. This could mean that the spiv brigade. Sorry meant the market have already discounted a placing of some kind.It will be interesting if any fund raising is only open to existing institutional and possible new inv
Re: Today's update BiswellI agree with your views on the wasted funds/time re the plants in Germany and India. HowetherI believe things will now rapidly change and the company will be sold. My rationale is that I recently held Cyprotex and then Quantum pharma... ( Take a look and draw your own conclusions )I would image that Harwood have already given them guidance. Hence the new strategy re the trading update... My only hope is that funds will not be raised via a loan note issue which will stifle any growth in share price until it is sold.. personally I hope they are looking at a quick sale at a profit.I would imagine whatever transpires over the next few months. Harwood together with R Sniller will be holding a bigger percentage of the company.Only MHO so dy
Re: Today's update This company is in troubleThey should never have opened up a plant in Pune , they are a small cap company not a FTSE 100 company.ODX have spent money in areas where they thought they might make moneyThen compounded the mistake by spending more and yet more on stuff and IP that now they can't find a buyer for.In other words a complete waste of shareholders moniesNow they will ask for another tranche of money from their shareholders yet againWhat will it be spent on this time ?
Re: Today's update The German allergy business Johann Ganzer was sold off as an unprofitable business by Merck ( I think?) There was a diluting share issue to pay for it at 22-23p all that was raised has been lost.Now the 19p share issue last year again diluted the existing shareholders. The report says they have cash of £100,000!!!! left.The Pune plant opened and was up and running so what happened? Presumably there was insufficient demand at Indian prices. We are left with closure costs.I need more than double the current share price to break even one unhappy bunny once again Jam tomorrow.Is this it? Is the new CEO going to announce something good soon?According to my understanding "imminent" means at any moment. In today's release it suggests between now and June.
Today's update Richard Sneller must be pretty sick this morning. Though I assume he was one of the major shareholders whose feedback led to all this.I also find the closure of the Indian operations ridiculous, having wasted so much time and effort getting them up and running supposedly satisfactorily.I can't believe there's too much downside now after this morning's markdown, and also given that the share price declined markedly recently anyway in advance of this news, but then the markets often overdoes things.The company are telling us that good news is due soon re (1) Allersys and (2) CD4. Let's see management delivering on these promises soon for a change.
Trading update due this month The price plunges to new lows. I have been buying as funds allow. Wonder if I'm catching a falling knife very skewed portfolio. Showing tens of m's paper losses. The sellers seem to be speculators moving on cutting their losses. It's my understanding that none of the large shareholders has sold out. Small sales and purchases move the price the fundamentals remain the same.The £800,000 write off of goodwill has no impact on cash, there's plenty of that still left from the share issue.Looking at Immuno Diagnostics they seem to have chopped and changed CEO several times in the last year. How can any negotiations progress when the head man keeps changing? They have to begin again every time. IDH has a pressing need for tests to run on their machine that hasn't changed except for the Italian Chinese company they signed up with. So it's difficult to believe the deal won't happen.However could this be a ploy to take the company private? Offering a small premium over the 14.75p and cleaning ordinary investors out before a trade sale.
Re: Overhang cleared - so who sold out at a loss? This was lifted from ADVFN board. Whoever compiled this deserves our gratitude. Your efforts are appreciated.Significant shareholders: 05 September 2017Richard Sneller 16,409,157 12.92%Legal & General Investment Management 15,851,031 12.49%Liontrust Asset Management 10,140,066 7.99%Octopus Investments Limited 6,682,730 5.26%Hargreaves Lansdown Stockbrokers 6,591,344 5.19%Harwood Capital [NEW ENTRY] 5,000,000 3.94%Unicorn Asset Management 4,266,750 3.36%SG Private Banking 4,264,281 3.36%Mobeus Equity Partners LLP 3,999,950 3.15%[Charles Stanley Stockbrokers - PRESUMED] 3,682,127 2.89%David Evans - Chairman 4,154,745 3.27%Andrew Shepherd CEO 2,819,291 2.22%Colin King COO 277,777 0.22%Kieron Harbinson FD 481,617 0.38%Jag Grewal Sales Director 153,246 0.12%Total Shares 129,959,060
Overhang cleared - time to move back up? Good to see the price ticking up well yesterday, and today's additional tick up on a 32k buy is hopefully more evidence that any overhang has now cleared.
Re: Technogenetics deal by IDH Bought some more today.
Technogenetics deal by IDH Immunodiagnostic have concluded a deal for more tests on their analyser we still wait for a conclusion to the talks that started over a year ago. Meanwhile the share price falls!Immunodiagnostic Systems Holdings plcPartnership Agreement with Technogenetics srlImmunodiagnostic Systems Holdings plc ("IDS", a specialist producer of manual and automated diagnostic testing kits and instruments for the clinical market, today announces that it has reached agreement with Technogenetics srl ("TGS" to enable IDS to sell TGS's range of assay kits under the IDS brand, on a global basis.TGS produces a broad range of CE approved CLIA automated assay kits for use in the fields of autoimmune and infectious disease diagnostics, which have been developed for the IDS iSYS analyser. This agreement follows a more restricted arrangement where IDS sold a limited number of the TGS assays in a small number of European countries. The new agreement, which runs for an initial period of ten years, gives IDS the right, subject to obtaining the necessary regulatory approvals, to sell the kits under the IDS brand on a worldwide basis.Jaap Stuut, CEO of IDS commented:"We are delighted to have reached this agreement, and look forward to working with the team at TGS as we commercialize the IDS iSYS Autoimmune and Infectious Disease assay portfolio. We now have access to a further 50 assays in additional territories which will complement our existing endocrinology portfolio and add to our competitive position as a result of the increased menu on the IDS iSYS. During the next financial year we will focus on obtaining regulatory approval outside Europe for these assays and on driving further commercialisation as soon as possible."
RNS: Richard Sneller buying heavily Sneller has now got 17.79m shares - his last holding was only 14.19m, so he's added around 3.6m shares.....[link]
directors stock options Happy New Year folks- looks like I'm the only one posting.Whilst waiting for some positive news to turn around the recent falls in the share price to below the last funding excercise at 18.50p I reviewed the final accounts.Three directors have share options expiring on 10/12/18 at 19pNumbers as follows:- 593,822 703,480 468,987representing over 1% of the currently issued shares of 1.3mm with a free float that I estimate at 30-40%. with current price well below the 19p excercise price they have year to get the stock price above the 19p level. It would be nice to achieve the 27p level estimated by the in house broker.The slow to fruition IDS deal is stated achievable before the financial year end i.e. 31st March 2018 perhaps that announcement will stimulate the price towards the 19p plus they need to make a profit. On the other hand they may take the opportunity to award themselves new options based on the current 16-17p price level. Lets hope that that Richard Sneller and the other institutional shareholders who own 57% of the company kibosh that idea.
Re: RNS: more allergens added You say the volume of sales has been low, this is true. However even with a higher volume of sales of allergens the fundamental problem of the huge losses of this division remains. Annual losses by the allergy division approach £500,000 sales are only a few million.At present each sale doesn't cover it's overhead allocation. The million pound grant lessens the development pain. Infectious diseases loses £250,000 a year. At least something is happening there. The Pune facility is at least up and running although it will take a double shift production schedule to produce profits.So let's hope for some positive news on the Immunodiagnostics distribution agreement in the New Year. For those with long memories the share price was 35p s few years ago before the dilutions and Joachim Ganzer purchase.Annua