Ann: Anteris to Present at Cantor Healthcare Conference, page-35

This is probably my biggest gripe (and has been for some time), the company's ability to raise capital in a manner aligned with all shareholders.

Dilution is a big concern for me.

I understand that cash needs to be burned to get DurAVR to market however IMHO these raises to a select few with massive options attached are not ideal.

I've said before with such a compelling product I can't see why HNW and UHNW individuals and family offices aren't being approached directly by Wayne via a roadshow and future raises undertaken at a 'premium' to the current share price. The issue I see now is a precedent has been set and it would appear to be a slap in the face to the new investors if this new novel approach were to be followed (even though it would be welcomed by long term investors).

I'm also interested in understanding if the options we recently saw granted to management will be an annual affair or if these was done on such a large scale due to the likely derisking the EFS and pivotal studies will have.

Rant over.