Successful VAT reclaim of £12.2 million
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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.
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