Ann: Strategic Review Update - Further Information, page-6

This is a phenomenally bad deal for shareholders.

The ANZ business is the only thing keeping MDR afloat & the access it provides to the Australian market is a crown jewel worth a huge amount to a global healthcare org. MDR management are giving it away for free.

The US business is loss-making with significant debt, chances are in 3yrs (when any performance payment will be paid) MDR won’t exist. So ignore the performance payment - the ANZ business is getting sold for $35M.

So the profitable ANZ business is valued at $35M, leaving the loss-making US business valued at $43M??? (ie. $78M mcap minus $35M). Lol.

Sp is going to tank.