Mimotopes, page-13

Philby, my broker reckons that a full exercise of the options would see the company through a phase 2 trial without any necessity of a further capital raise.

He also pointed out today that the volume selling as of last week of approx 20m from Cannacord maybe Rhinomeds stake. The Chairman at Rhino has changed from Martin Rogers to Ron Dewhurst. Ron was a partner at McCaughan Dyson in the 80's with no other than Peter Hollick who is now a broker at Cannacord. Could be completely wrong but Cannacord havent been in the stock and he would guess Rhinomed need the monies and sees no loyalty in holding positions in other ASX stocks as Martin would have due to Forrest Capital and KTM connections.