Ann: Appendix 3Ys- J Swedish,B Burns,J Bell,P Krause,P Facchina, page-3

Hi @degen,

I'm not sure why your earlier post received so little attention - but there was a hell of a lot of non-holder distraction going on in other HC: MSB threads.

I found Ms Jane Bell's response as an Australian resident non-executive Director to the Retail Entitlement Offer very interesting:


It seems Ms Bell took up every single one of the shares that she was entitled to apply for under the Entitlement Offer i.e. at a 1:4 ratio. Good for her. That's the kind of support for the company that I like to see from someone who - although a Director - is not able to earn an executive salary.

But, you know, although I liked Ms Bell's demonstration of her beliefs & exactly how keen she is to be involved in our company, Mesoblast Ltd, I was even more impressed by this one:


If I'm reading this correctly, Dr Philip Krause MD has gone out into the marketplace (on NASDAQ) at the time of the Retail Entitlement Offer and increased his shareholding in MESO to over 287%of what it was previously.

I believe that Dr Krause could not apply directly for shares on ASX as part of the Retail Entitlement Offer (due to his presumed US tax-residency) and so I take this purchase as demonstrating great confidence in the future of the corporation by Dr Krause. He went and spent US$41,536.31 (i.e. US$1.107635 per ADS) out of his own pocket, which would be ~AU$60,760 at today's rate. So, not beer money.

Of course, prospective participants in the Retail Entitlement Offer weren't & couldn't have been told that, because Dr Krause wasn't participating in the ASX offer. And, in any case, you might say 'oh, he's just averaging down'.

Nonetheless, the fact that this investment has been made at this time by a person with (admittedly limited) Mesoblast strategic advisory responsibilities, but who IMO - on any reasonable analysis - is the single person in Mesoblast Ltd most likely to have the required skills in understanding and responding to the FDA's positions pre-approval, is something relevant to MSB shareholders as I see it.

And to me it demonstrates both an aligned commitment to and a critical belief in the company's future. Just what I had hoped to see at this moment in time, without any right to expect of course.

Food for thought.

Cheers,
GLTAH