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Novacyt S.A. announced on 22 August 2024 that it successfully reclaimed £12.2 million in VAT from HMRC, with the full sum received by the Company. This reclaim was related to Department of Health and Social Care (DHSC) invoices that will not be paid following a dispute settlement. The Group's net cash position increased by over £7.0 million after the settlement, which included a £5.0 million payment to the DHSC in early July.
| Date | 22 Aug 2024 |
| Time | 11:30:01 |
| Category | Miscellaneous |
| ID | 4513B |
Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Successful VAT reclaim of £12.2 million
Paris, France, and Eastleigh and Manchester, UK - 22 August 2024 - Novacyt S.A. (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces that it has successfully reclaimed £12.2 million in VAT from HMRC, with the full sum having been received by the Company.
As announced in the AGM Statement issued on 18 July 2024, the Group submitted a request to reclaim circa £12.2 million VAT relating to Department of Health and Social Care ("DHSC") invoices that will now not be paid following the dispute settlement reached with the DHSC.
Following settlement of the dispute, including the payment of £5.0 million to the DHSC (paid in early July), the Group's net cash position has increased by over £7.0 million.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Contacts
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Novacyt SA |
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Lyn Rees, Chief Executive Officer |
Via Walbrook PR |
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Steve Gibson, Chief Financial Officer |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0)20 3470 0470 |
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Matthew Johnson / Charlie Bouverat (Corporate Finance) Vadim Alexandre / Rob Rees (Corporate Broking) |
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Deutsche Numis (Joint Broker) |
+44 (0)20 7260 1000 |
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Freddie Barnfield / Duncan Monteith / Michael Palser |
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Allegra Finance (French Listing Sponsor) Rémi Durgetto / Yannick Petit |
+33 (1) 42 22 10 10 |
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Walbrook PR (Financial PR & IR) Stephanie Cuthbert / Paul McManus / Phillip Marriage / Alice Woodings |
+44 (0)20 7933 8780 or [email protected] +44 (0)7796 794 663 / +44 (0)7980 541 893 +44 (0)7867 984 082 / +44 (0)7407 804 654 |
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About Novacyt Group (www.novacyt.com)
Novacyt is an international molecular diagnostics company providing a broad portfolio of integrated technologies and services, primarily focused on the delivery of genomic medicine. The Company develops, manufactures, and commercialises a range of molecular assays and instrumentation to deliver workflows and services that enable seamless end-to-end solutions from sample to result across multiple sectors including human health, animal health and environmental.
The Company is divided into three business segments:
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Clinical |
Broad portfolio of human clinical in vitro diagnostic products, workflows and services focused on three therapeutic areas: · Reproductive Health: NIPT, Cystic Fibrosis and other rapid aneuploidy tests · Precision Medicine: DPYD genotyping assay · Infectious Diseases: Winterplex, multiplex winter respiratory PCR panel |
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Instrumentation |
Portfolio of next generation size selection DNA sample preparation platforms and rapid PCR machines, including: · Ranger® Technology: automated DNA sample preparation and target enrichment technology · MyGo: real-time quantitative PCR (qPCR) instruments
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Research Use Only |
Range of services for the life sciences industry: · Design, manufacture, and supply of high-performance qPCR assays and workflows for use in human health, agriculture, veterinary and environmental, to support global health organisations and the research industry · Pharmaceutical research services: whole genome sequencing (WGS) / whole exome sequencing (WES) |
Novacyt is headquartered in Vélizy-Villacoublay in France with offices in the UK (in Stokesley, Eastleigh and Manchester), Taipei, Singapore, the US and Canada and has a commercial presence in over 65 countries. The Company is listed on the London Stock Exchange's AIM market ("NCYT") and on the Paris Stock Exchange Euronext Growth ("ALNOV").
For more information, please refer to the website: www.novacyt.com