Ann: Appendix 3Y for Jane Bell, page-6

At 30c without clear Regulatory guidance the risk was high, which may rationally held up her investment.

FDA positive signals on both GvHD and Heart (children & LVAD) made a significant difference to risk and presented a probable upside as seen in the share price.

I've personally followed the same logic described above and purchased more at this level and will continue to accumulate at 80-85c or lower if it drops further. I did also sell a 1/3 of my position of over 200K shares at the mid 50c level (at a loss) which I'm not delighted about however who would have thought this would soar as high as it did in 3 days without a retrace.

Another great indication of her buying at these levels. I'm
Aiming to get back to over 200k shares before this swings up.

Go the mesoblast rocket!

VFM