Ann: Response to ASX Price and Volume Query, page-35

From same article. I should clarify from what I see it was James Graham who started Recce, obviously with some advice from Mr Melrose. I don't want to detract from the work James has done in getting the company up and running to this stage. Excellent work, and he has obviously committed his own money to the endeavour also in getting it up and running. Great story to date imo.


"The grandson of Dr Melrose, James Graham kick-started Recce — putting in the initial funds to get it off the ground — after Dr Melrose showed him research advances he had made in developing a synthetic antibiotic.“He was tinkering in retirement,” Graham said of Dr Melrose’s work which Recce is seeking to commercialise.Dr Melrose “was worth over $130 million” when Chemeq — which he had launched — was making good progress with its development program a decade ago.But he didn’t sell a single share.“As a good captain, he went down with the ship,” Mr Graham says.Even though Dr Melrose had moved on from Chemeq by the time it began to founder, he felt he couldn’t sell his holding in the company, concerned it would affect adversely developments at the company.Chemeq collapsed a decade ago. At its peak it was worth more than $500 million."