Ann: Annual Report to Shareholders, page-55

I think sud is thinking big picture - after converting, his ownership will be circa 14% (someone correct me if i am wrong)

This will give him a huge say if a big Pharma come knocking, which i do believe will happen at some point, or various points

He wants to drive direction - they have great goals, the next GW Pharma...not unrealistic IMO.

Its a fascinating play book, its like we have just read the introduction and are starting on chapter 1, or scene 1 in a play.