Ann: Chair Elect Letter, page-13

Tomorrow, a new dawn at Clinuvel arrives. Prof Rosenfeld takes the reins, promising "integrity, fairness and respect for all".

Whilst, Blijdorp was chair we saw a combative, negative, disastrous 4 years. Almost 50% decline in share price, major shareholders leaving and no material progress in the pipeline. At B&S the share price lost 70% and he lost his place on the board. The man has a golden touch. He told us 3 years ago that the topical tanning OTC was very far advanced, but despite that no animal or human trials have been performed since. An embarrassing social media campaign was launched and a music conductor with a pre existing relationship to Blijdorp was awarded performance rights as an intriguing personality. He has no knowledge or interest in sun related matters and even more bizarrely no social media profile!

As far as I know Blijdorp, to his credit, did not initiate legal proceedings against any frustrated shareholders who dared post their thoughts and feelings despite frequently threatening to do so. His legacy will however live on with Mr Bull refusing to engage in any way with shareholders who express thoughts and opinions publicly. We never did learn about Blijdorps long pre Clinuvel relationship with Wolgen. It is after all none of our business.

Tonight's new years eve drinks I will toast the new beginnings at Clinuvel after the past 4 disastrous years.