Correction TJW; these executives must be the envy of many for the way they treated BTA loyal shareholders.
You have to be a fool turn down a $100M offer, then spend $35M to $40M to settle for $20M. The “talks” making the rounds in the Melbourne legal circles is the people making such decisions have to be idiots or have Swiss bank accounts.
These geniuses managed to dilute your shareholdings with their free executive share options in the millions. Just weeks before the ground breaking GSK settlement, on 16 July your geniuses were issued 375,685 shares – what price did they pay for the shares, you may ask. ZERO $, yes, ZERO$ is the conversion price these geniuses paid for their 375,685 shares.
The bottom has fallen out of the pandemic stockpiling market It is less than 10% of previous years. Relenza had missed the boat. The reason to settle with GSK explained by Peter Cook was to “normalize relationship” to get on with the sales of Relenza, why was it not settled in 2006 for $100M at the most opportunistic time to sell Relenza. Peter Cook would like you fellows to believe that GSK will out pushing Relenza very hard!! Only idiots will believe GSK is going to put their pandemic flu vaccine on the shelf and peddles Relenza instead. Hours after the settlement GSK had a number of articles out in the press on their vaccine- there you have it!
Whichever way you look at it nothing speaks louder than the royalty figures. Royalties fell 92% from $4.4m in the last quarter to $0.4M in the recent quarter. Off-seasons sales as expected said Peter Cook! Try explaining then the drop from the off-season 3 months to June 2007 royalty of $11.1M falling 96.4% to this $0.4M June 2008.
Is Peter Cook's annoucement an IQ tests for the loyal BTA shareholders?
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