Ann: Ceasing to be a substantial holder, page-12

A broker report you say Gekko ...

I have a broker report from 1-Aug-2017 from none other than our mates at Bell Potter. At the time, the SP was 8.8c and BP's valuation was 41c. Some of the pearls from the report included:
- CE Mark by end-Sept 2017 (and criticism of management for being overly conservative in forecasting CE Mark by "end 2017")
- Forecast revenues in FY2019 of $46.3m

This is the same broker that "underwrote" (aka "sucked further blood money") from long term shareholders by insisting on being able to purchase the discounted shares rather than allowing any existing shareholder to participate above their holding, on top of its underwriter fee of course.

Actually, complaining about BP's actions is misplaced. Its charter is to bloodsuck. Its our wonderful, shareholder-minded directors that we should be pointing the finger at. You know, those directors supposedly representing shareholders' interests. Imagine what would have happened if they placed their interests ahead of shareholders (by say firming up their exorbitant salaries in the face of seven years of under-performance), or took care of their broker buddies (by say ensuring they got all the discounted shares) ... oh, wait ...

Just in case anyone needs a reminder, OSL has traded north of 40c per share on exactly zero days since August 2017. Make that zero days since listing.

And now you say Regal is making a mistake taking a 2c profit in the face of a 40c valuation ....? Fancy that.