As you are aware, during any regulatory process, queries, admin or clarifications happen, this is a different issue to a formal request for further information . In the case of RHY, as disclosed by the Board 6/3/23, the logistics of addtional test kits and testing requested by the TGA in the 20 business days, did not allow sufficient time to undertake the tests. The ASX would have throughly looked at this during the trading halt, which is fairly standard. If the ASX had any reservations regarding the TGA application, additional testing and the progressive queries, then they would not have allowed them to be reinstated. So again, you are you indicating that you have verifiable facts that contradict what the ASX would have looked at and been given. I think this issue is dead.
The sale of OB shares were disclosed to the market ( 9/9/22) and given the ASX's role, would have been subject to a query. Clearly if there had of been any issue with the sale, the ASX would have dealt with it under the listing rule and referred the matter to ASIC, which has clearly not been done. Again enough with the mud slinging, salanderous comments and insinuations, you should submit your verifiable facts/information/documents to the ASX. To think that the ASX would not have looked at this situation in depth, shows a lack of having dealt with the ASX and understanding of how the ASX works, the ASX, which I can assure from experience are like terrier dogs on this type of transaction.
In addition, as you are aware, in the Corporate Governance Section of RHY website, you will be able to obtain the "Securities Trading Policy", which all listed companies must have, maintain and adhere to. Any trading by any Director/executive/staff member, must be authorised by the Board, which would have been done. This is also evidenced by the ASX Release regarding the sale. Eddie Vom was a director at the time. So I presume again you are insinuating that the Board is also at fault here as well. Again enough with the mud slinging, salanderous comments and insinuations, you should submit your verifiable facts/information/documents to the ASX.
Your comments regarding OB "has the least skin in the game" is clearly not based on OB's history, especially with IWL. OB did not walk away from IWL, when the .dot com bubble burst or when the strategic direction of the company was changed even though he would have recouped his initial investment very early on via capital repatriation. This is a mater of fact which you can easily verify. OB showed a doggeness to hang in when he could have just walked away and I am sure none of the shareholders of IWL who stayed for the ride would have been unhappy with the outcome to CBA. I am sure if you bothered to contact OB direct, his email or via mobile, he would be only too happy to speak with you regarding RHY and his other holdings, to my knowledge he still maintains. Contary to the childish nickanmes ascribed to OB by this forum, he is very approachable and not the demon he is portrayed to be. Suggest you send him an email or phone rather than this anomonyous unsubstantiated rubbish.
The fact that RHY Board had taken the decision to undertake a detailed Strategic Review indicates to me that the Board are willing to review past decisions, make the difficult decisions and have a path forward as disclosed in their 18 December 23 update to the market. Investments in Bio Tech's are risky, not a given and require patience, it is not for the short term investor. I have great faith in all Directors of RHY including OB and the current executive team and wholly support them to take RHY and its science forward.
RHY Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
