Ann: Ceasing to be a substantial holder , page-5

So that sounds like about $10 million revenue pa in Aus. Nothing to sneeze at. It looks like their diagnostic test could bring in a few million a year as well. Both are high margin products. Nothing compared to breaking into the EU or US market with bronchitol of course, but those figures probably justifies half their current share price. So the extra 35 cps could be considered a gamble on them succeeding in Europe. Assuming that would kick the share price back to pre-trend vote levels, then it's not such a bad punt at the moment.