Ann: A$80 million fully underwritten equity raising, page-40

Not sure where the idea is coming from that anon institutional investors incoming automatically = quality, ethical, iron grip, sector-sophisticated holders here for the long haul. After all, Citadel and Susquehanna and Soros Fund Management are all examples of institutional investors too.

After this dilutive raise I feel like we’re a piece of prime rib that has been thrown into a pool of piranhas. Once those shares are in the market, with no escrow conditions attached, they go wild. Had an identical placement gone with a standstill provision to a BP partner or a single healthcare investor of gravitas and stature then I would instead be cheering. But Immutep management clearly don’t have the clout.