Novacyt subsidiary fined for HSE breach at 'historical operation'

(Sharecast News) - Novacyt said on Friday that its Lab 21 Healthcare subsidiary has been fined £52,000 following the conclusion of a Health and Safety Executive prosecution relating to historical operations at its former Axminster site. The AIM-traded molecular diagnostics group said the sentencing hearing took place on 11 September, after Lab 21 pleaded guilty in March to health and safety charges over its use of biological agents at the site between June 2018 and April 2019.

Novacyt said the court granted full recognition for Lab 21's early guilty plea and confirmed that the fine would be paid from existing cash resources, adding that it did not materially affect the group's financial position.

The company said the ruling "now concludes this process, with no further liability or legal action expected in relation to this case".

At 1116 BST, shares in Novacyt were down 0.83% at 40.41p.

Reporting by Josh White for Sharecast.com.