RAC - Charts & Price Action, page-6782

RAC might already doing groundwork building connections overseas behind the curtain.

There is still room to grow ASX investor interest (e.g. IMU is almost 4 times RAC's market cap), but past a point, RAC will become too isolated to continue achieving multiples of growth every few months which is needed to stay within Wombat's log channel.

More exposure probably means talking to retail investors and small funds overseas. The USA alone would be a low hanging fruit for RAC - about 20X the investor potential.

One thing I am unsure about - if we believe in the possibility of a very early 2022H1 buyout scenario, then it means RAC would skip overseas retail investors/funds and go for a straight Big Pharma buyout strategy, starting Q4 2021. To me this feels like a bit of a gamble - hypothetically, either Big Pharmas get into a bidding war, in which case we can achieve a solid price, or they don't, in which case RAC has few options other than accept a poor offer.

IMO growing the SP and investor base is the path that best lowers this risk. And if there has to be an attempt at early takeover by flying over the radar, then I would rather take that risk rather than the above happening. RAC investors can always reject a deal if not in our interest.

IMHO