Omega Diagnostics Share Discussion Threads

[barrywhit] 04/1/2019 11:46

Happy New Year everyone let’s hope 2019 is a far better year for Omega...and it’s long suffering shareholders...

[barrywhit] 27/12/2018 13:05

I was under the impression the company wouldn’t need to raise cash due to the overdraft in place..

[jeevsje] 27/12/2018 11:29

The biggest uncertainty in the short term is whether they will need to raise cash wuth a discounted placing. The fact that we has the two major shareholders adding suggests that it won't happen.

[arthur_lame_stocks] 26/12/2018 13:09

Yes barry we certainly need CD4 to be successful to stand a chance of making any real money, I don't personally think Sneller and Mills will be bailing unless there is a disaster which permanently changes the outlook for the group. I'm happy to share the register with them because they're both pretty smart cookies.

[barrywhit] 26/12/2018 12:54

Arthur, thanks for your take on things..It depends what Sneller and Mills are happy to exit ODX at share price wise...we really need CD4 to become commercial else it will have been 5 wasted years of investing for me....

[arthur_lame_stocks] 26/12/2018 12:33

Merry Christmas fellow sufferers. I hope the new year brings us some much needed cheer.

FWIW after speaking to David Evans I decided to buy a few more at around 13p because my take on the situation seems to be pretty close to how he expects things to play out and I remain convinced that even if CD4 is not successful (and it could prove to be pretty successful) then the shares are worth more than this. I don't believe there is much value in the Allergens business and I hope they will seek a conclusion there pretty quickly.

Also, as I understand it Richard Sneller and Chris Mills particularly are pushing for action so I don't believe the status quo will persist for too much longer and we'll finally see some value.

[gwr7] 23/12/2018 15:35

Hyperboreus6 Apr '18 - 10:53 - 589 of 996
"Another 8 months away yet but Messrs Evans, Shepherd and Harbinson each have options granted on 10 December 2008 with an exercise price of 19p which expire on 10 December 2018.
No idea what is likely to propel the share price north of 19p in the short term, just shows how their expectations of how Omega would perform over the last 10 years have just not materialised.
In a perverse way I almost hope that the share price doesn't rise too much this year as they do not deserve to profit from them in my opinion, that is my 'gripe of the day' out of the way now!"

Well you got your wish Mr. H and the positive trading update on 10th October didn't push the share price above 19p before their options expired. Colin King, CEO of Omega commented: "We are making great progress implementing our revised strategic direction and the narrower focus is already starting to deliver in our three key areas. Overall, we believe the actions we are taking will ultimately deliver shareholder value both in the short and long term."
How long is the short term?
Have a good Christmas.

[barrywhit] 17/12/2018 20:36

Hyperboreus, I’m sure they will allocate replacement options when they think appropriate... Lol... Merry Christmas

[hyperboreus] 17/12/2018 08:55

Well the first tranche of options have come and gone:



If that isn't an obvious sign of failure to increase shareholder value over the last 10 years I don't know what is, however in fairness to the three directors involved they could have exercised their respective options at various times during the decade.

Interesting coincidence that David Evans resigned on the exact day (10 December 2018) that the options lapsed.

Jag Grewal the Group Sales & Marketing Director (who rarely receives any negative comment on here it appears for some mystifying reason to me) has a few @ 13.25p which expire in August 2021:



A few more to various individuals expire in 2022

.....but the stand out shall we say 'very generous' one was granted to our current albeit stand-in Non-Exec Chairman Bill Rhodes which expire on American Independence Day 2023:



Just what he has brought to the table to justify that award is not immediately obvious to me at this juncture.

I am not trying to be mischievous or overly negative here but the bottom line is that the current and ex ODX Board members have clearly not delivered on their various strategies over the past decade and given the current share price the market appears unconvinced they will any time soon.

Have a lovely festive season everyone! 🎄

[leedslad001] 14/12/2018 13:34

Lol never expected to be here this long thought we would be at quid by now ! Happy Christmas and as del boy says next year we will all be millionaires

[barrywhit] 14/12/2018 11:48

Leeds, I don't think this was the Christmas surprise we were expecting, good to see the short term shareholder value working well.......LOL

[nxc] 12/12/2018 12:46

There is a difference between trust and confidence - I can understand why you may have lost confidence ( although since Colin was appointed he has delivered on the plan outlined) there is no basis for the lack of trust comment - I would trust all of my former colleagues with the keys to my house. They are honest hardworking and trustworthy.

[barrywhit] 12/12/2018 11:49

Time will tell Arthur, but at 13p share price my SIPP looks pretty sad..unfortunately the company have lost the trust of small P.I's over the last 12 - 18months and it is those people that move the share price......

[arthur_lame_stocks] 12/12/2018 11:39

Hi Barry, i've also emailed Kieron Harbinson in the past and he replied very promptly.

I think this is a very attractive risk reward situation at these prices, I still believe the Food Intolerance business is worth the market cap on its own with CD4 thrown in for free.

[barrywhit] 12/12/2018 11:05

Thanks for you feed back Arthur, I am still a holder with 95% in my SIPP. I have had dialogue with Kieron Harbinson over the last 18 months and am also happy to hold until CD4 comes to fruition...

[arthur_lame_stocks] 12/12/2018 10:59

I did phone David Evans and had a perfectly civil chat with him. I recommend others do it, he was pretty open as much as he can be without breaking market rules. I put the phone down feeling that there is still a lot to play for and my reasons for continuing to hold are sound. The big opportunity appears to be CD4 and I think this is where resources will be concentrated going forward; millions of tests a year at $5 a pop and 60% gross margins, if they pull that off then today's share rpice is going to look a bargain.

[nxc] 12/12/2018 09:37

Arthur - happy to take your call

[barrywhit] 12/12/2018 08:54

Shareholding information last updated as at 18 October 2018

The number of shares in issue is 126,959,060.

The percentage of shares not in public hands at 18 October 2018 is 44.59%.

There are no shares held as treasury shares.

There are no restrictions on the transfer of the Company's AIM securities

Significant Shareholders


Richard Sneller 25,430,710 20.03%
Legal & General Investment Management 15,857,031 12.49%
Oryx International Growth Fund Ltd 14,096,692 11.10%
Hargreaves Lansdown Stockbrokers 6,940,972 5.47%
Octopus Investments Limited 6,682,730 5.26%
Unicorn Asset Management 4,266,750 3.36%
David Evans 4,154,745 3.27%
Mobeus Equity Partners LLP 3,999,950 3.15%
Interactive Investor 3,952,832 3.11%

[arthur_lame_stocks] 12/12/2018 00:46

David, one thing that is a consequence of the internet, and maybe modern life, is that information is available at all times and people seem to expect instant gratification from whatever it is. If you read these boards you'll realise that blaming management when the share price falls or things don't work out the way people want quickly enough is par for the course. In ODX's case it does look as though mistakes were made and the company overextended itself given its limited resources.

I remain a shareholder because I still believe that the market price doesn't reflect the intrinsic value in the food intolerance business and the opportunity from CD4.

I also think the company will be broken up in the medium term and the value realised. Chris Mills has form on this front but I don't know what Sneller's angle is.

I may give you a bell tomorrow, I guarantee i'll be civil and i'll give you my name so you know who I am if i'm not but any more information you can give me would be much appreciated.

[nxc] 11/12/2018 20:43

I am and I am happy to leave it there Barry - my number is readily accessible from other press releases - I put it there to enable those who had genuine queries I could answer them and for the vexatious that they could vent their spleen directly at me without the anonymity that this and other bulletin boards offer.

[barrywhit] 11/12/2018 20:12

NXC, if you really are David Evans I would remove your mobile number from the thread. there are some strange people that frequent ADVFN.....You really shouldn't leave your number on the thread.....

[hyperboreus] 11/12/2018 18:12

I personally don't think the ex Non-Exec Chairman's 4+ million shares is an issue as David Evans holds 42% of his ODX shares in his SIPP and in any case the share price has only decreased under his stewardship so I cannot see why he would want to offload but maybe he will if Sneller and/or Mills want to grab a few more, which might just make it a good idea if he did! 🤔

[gwr7] 11/12/2018 12:52

In June 2016 Evans said:
“We are evaluating all these opportunities, including those which could be delivered from existing resources, to ensure we are on the right side of under-promising and over-delivering.R21;
Since then they have over-promised and under-delivered seemingly at every opportunity. It’s right the executives are held to account for misleading investors. As far as I’m concerned, either Evans was too weak to do that or this was a pipe and slippers job for him. At any rate I think it’s good he’s gone. It’s a pity the broom that moved Shepherd under the carpet didn’t sweep Evans and Harbinson away at the time.

[buywell3] 10/12/2018 14:59

Director move

Enter stage right ... Ian