RAP media thread., page-3126

Extraordinary.

Presented to the BioShares Summit last week. Presenting to the Gold Coast Investment Showcase next month. What story is being spun to these investor audiences?

The BOD claims to be supporting a Scheme whereby the Company should be fully owned by Pfizer, with no further Australian investor involvement. In doing so it has committed to selling the story that a share price of 11.5c is a good deal.

So did Keating last week once again outline the extremely attractive future that the Company has? If so, does that not risk investors being prepared to raise the share price above 11.5c and so contravene the BOD’s commitment to support the sell out at what it argues is a bargain? Or was the argument forwarded to comply with that commitment that the RAP SP isn’t worth that much, so take the offer while you can?

Both the Scheme announcement and the quarterly conference call outlined the level of excitement that the BOD has about the many opportunities it sees for the Company’s future. Both were addressed to an audience that it had intentionally decided should be prevented from sharing in that future. I considered both to not only be insensitive and insulting to shareholders, but bordered on the ghoulish.

Surely by now the BOD must realise how inappropriate the Scheme proposal is, and the conflicted position that it has placed itself in.

The whole issue is a complete farce, and the longer it persists the more monumental it is likely to become.

All IMO.