Hi all
My notes on today’s AGM
Other interesting tidbits
- All objectives to enable the “Deal” have been completed no barriers are in the way.
- The NY investment bank engaged to broker the deal has commenced proceedings.
- Meetings are held weekly with the Bank including one scheduled for tonight.
- The chosen investment bank is a big player in this space.
- Very few if any ASX biotech companies would have access to this type of investment bank.
- Only paid on results.
- There is nothing close in the global market that matches the pericoach and the now collected data they have.
- Big players like Google and Apple could be potentially interested due to the health data analytics they have collected.
- Board has instructed that all options are on the table e.g global licensing deal for both products or total sale of company.
- Deals typically take 3-6 months to achieve, but that is not a definitive timeframe for this.
- Dr Peter Corr is the man to get the best deal possible for all share holders. Other ASX boards are envious of who is now on the ALT board.
- Next six months will be the most exciting in the companies history according to Geoff.
- Past barriers for the sale of the auto start may be on the turn as a the distribution company has been bought out by a major US company and could now package the auto start with pumps for example which has been a problem to date with competitors.
- Gladstone Hosptal now using the product. Good feed back to date and some other hospitals in NSW.
- pericoach on the cusp of being approved for other conditions.
- Director fees have not increased in 5 years
- CEO has not had a payrise in 7.
- All ALT staff and board travel economy class
- No concern about 3 billion shares on register. Chair could do a consolidation tomorrow if he wanted.
- Have enough cash till to last next year and options due early next. R & D tax refund is still available also.
- Chair said the extended placement voted on would unlikely ever be required and is there to enable the deal.
- Lots of questions asked by share holders.
- Mood was positive and not hostile.
- Chair acknowledged long term holders and the fact that little return has been seen.
- Pericoach has cost 25 million to bring to market and has taken 10 years.
- Chair believes share holders will be smiling in the near future.
- Next six months will be telling, the chair said this may be the last AGM.
- Chair would like to prove ASX wrong.
- The board is aware of hot copper and this forum.
- The meeting ended with a round of applause.
I have attended a few of these meeting now and left feeling quiet positive about the potential for 2018.
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- Ann: AGM Chairman's Address and CEO Presentation
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