Ann: Appendix 4E and Audited Annual Financial Sta, page-7

re: Ann: Appendix 4E and Audited Annual Finan... Last post for the weekend but one thing that does concern me a bit and I've had that feeling for a while - what happens if those CN's give a massive majority stake and the performance of the company + difficulty raising capital pushes them to delist ?

BioDeim's move out of the blue this week just kind of brought It back into my thoughts ( I don't hold BDM ) but i'll just post their key reasoning for the proposed move and you can see where I'm coming from + it's worth noting the top 2 shareholders have over 50% of the company.


In summary, the reasons for the Company seeking shareholder approval to delist from ASX include:

• the effect that the perceived low market capitalisation of the Company has on commercial opportunities including out-licencing transactions (which are a core element of the Company’s business);

• the disparity of sensitivity to positive announcements by the Company with the effect on the market price of the Company’s securities;

• the general economic conditions and the effect those have on the Company’s ability to raise capital; and

• the costs associated with the Company remaining listed on ASX where the Company and its shareholders receive only limited benefits from the Company remaining listed on ASX.