Ann: Quarterly Activity Report and Appendix 4C, page-34

Here are my thoughts:

@hotcongo’s viewpoints are not completely off the mark. There are some fund managers and retail investors who share the view. Rightly or wrongly that’s their view. Some of those views were formed since Race listed. Some of those may have formed an opinion and not revisited their opinions (biases?) to challenge them based on new info in the last 4 years.

Some are scratching their heads on the $300 Mn MC. Some think Bisantrene is a generic and the company is wasting their time doing trials and nothing great is going to come out of it. Well that’s their opinions.

I will do a bit of a comparison to Clarity (CU6) since I am invested there as well, not to cross promote but to clarify some points raised above.

Clarity raised funds from fundies and retail recently. Since then the SP is up over 100% in a short span. Now these same fundies are telling Alan Taylor (Clarity’s CEO) that now the company has suddenly become 30-40% of their portfolio within a couple of months so they have had to trim their positions. Imagine that! One second as a SH you would be beating your chest that you have quality funds on your register and then they are selling down? Would you be happy with that? Imagine Race goes from $2 to $4 and next minute there is a sell off from the same people who are your pride and joy! (Imagine where would Clarity’s SP be without such a sell down)

One fund manager I spoke to recently asked how companies like Race and Pharmaust (as an example, not cross promotion) are able to get as many retail shareholders because this fundie is invested in a company where 3 funds own about 60% of the company but they are struggling to attract retail. I responded that Race and Pharmaust engage with SHs regularly via email, social media, HC, or their own investor hub’s where they are breaking down each announcement with short videos that are simple language compared to an announcement.

You can’t just sit in an office and have all these notions about companies and not watch them closely, wonder how one company attracts only funds or only retail SHs, etc.,. You have to realise that each comes with its own pros and cons.

AIMO. DYOR. No advice.