agm notes, page-6

Thanks - good notes TDA - and I'd have to say your notes seem pretty accurate to me - I snuck away from work for an hour to work out whether or not to buy more ACL.... I'll add a couple of my own notes.

Pete said in the meeting - "Fondaparinux is the elephant in the room" but then he went on to say that within the company everybody expects vastly (excuse the pun) more from HA-irinotecan which by all indications, he says, is worth many multiples of what fondaparinux could ever deliver for us - he sounded VERY bullish. And basically sounded disinterested in partnerships for HA-I until the end of Phase III trials as that should deliver better end-value.

Only other thing I would add was one of the answers to a guy's question at the end about re-distribution of fondaparinux revenue (i.e. will their be dividends, will it be entirely re-invested into new compounds, etc). Mel said that it had been discussed but could not be disclosed to the market but Pete was quick to add that by their calculations Ha-I trials will not monopolise all the fondaparinux revenue and they will look to add value for investors. Which would be nice.

As TDA mentioned, he suggests the time until we hear from the FDA should be measured in weeks, and if the share price remains here or lower, I'm hoping to take advantage.