I emailed Glyn about dates in relation to BG. Here is my query:
"Could you please confirm whether my understanding of P&G's entitlements in relation to the Bodyguard program is correct?
1. P&G have first right of review of the bodyguard results/data - 30 days (from 23 February when the results were announced on ASX).
2. The results/data will then be made available to other interested parties (on or about
24 March).
3. P&G will have first right of negotiation to enter into a distribution agreement with OBJ, such negotiations to take place in the coming months but, at the same time, other interested parties will have the results/data and will be able to make representations to OBJ while P&G is negotiating with OBJ.
4. P&G is ultimately first in line to make a proposal but, if such a proposal is not mutually satisfactory, OBJ will be able to quite seamlessly move on to other interested parties and negotiate a distributorship agreement because they have already had the data made available to them.
Is that correct? I am assuming this would be the case in order for OBJ to maximize its interests with respect to securing the best deal from all those companies competing against one another."
And here is his reply:
"The agreement with P&G gives them 60 days exclusive first right of refusal. But we will be working with them and indeed the others during April/May and beyond and the first course is to work out what markets we can discuss that they will each be looking at attacking. And what products they may wish to take (hot dots, mineralisation, kneeguard, tendons) etc. It is very complex set of market sectors and products we can offer with our Lubricen, alternative OBJ formulations or with our partners' own formulations. There is no one size fits all. So the exact dates are not important to OBJ. It is what partner gives us the best opportunity for OBJ into which market sector and what the best formulation is for that market sector.
I know this sounds convoluted because it is. We will learn a lot from P&G and each of the others progressively over the next six months to then put in place hopefully the right strategies for each market we are pursuing. The excact dates today are not really relevant in the scheme of things.
G.D."
(20min delay)