announcement trading halt, page-34

Hi TP, yes it would be a bit of a shame. However, it is a buyer's duty to buy what they want when it is best for them to do so. As you say, the shareholders here (many of them anyway) could not grasp the underlying value of the company, so a takeover should not be unexpected.

Semi/r, your point about the directors is a very good one. Our largest holder has nearly 20% and surely would want a reasonable deal on that, especially given that the investment would rapidly grow from here with Hepafat, and would be worth a mint if the fibrosis scan comes good.

Surely the t/o price has to be north of 20c. My valuations of the company with hepafat and fibrosis would be (conservatively) north of 50c.