Looking at the volume in the first hour yesterday suggests that the announcement was the root cause of the selling momentum. There is the historical propensity of some Alexium holders to sell into announcements, regardless of the content, which could explain some of the selling.
About the only point in the presentation IMO which may have sparked some concern is the item about the good June and July cash flow positions and I suspect this has been interpreted by holders that by ommission the August and September results might be otherwise. That could be the case or it could be an oversight or for some reason they have restricted further commentary for disclosure reasons, hard to know at this point. I recall that in a previous statement that they were bullish about the August cash flow position part way into August. The looming 4C will sort that anyway.
Otherwise it all looks vanilla to me and I can't understand what the fuss is all about.
Ann: Alexium presents at the ASX Spotlight Conference, page-53
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