future relenza royalties, page-9

I've been giving GSK’s “reservation method” some thought and I don't see that it is as simple as a put option.
GSK does not own Relenza outright, there is BTA's interest,... the royalty.
For GSK to accept to reserve Relenza it should be owned by GSK, that is to say for every "reserved" packet of Relenza the royalty should be payed immediately. If I want to reserve Relenza for my family I have to pay for ten packets of Relenza which includes BTA's royalty, it's only fair GSK has to do the same. Similarly if the use by expires on my Relenza it is arguably worthless, that is to say I would have to buy more Relenza and pay royalty again. So should GSK if the reserved Relenza is not sold.

Surely BTA has to agree to the "reservation method", or maybe Peter and the board already have. I'd like to see the original licencing agreement, and any recent ammendments.

In the mean time why don't you resign Peter?