Ann: Application for quotation of securities - BRN, page-20

“Once again you state that it clearly shows however there is nothing clear about it and they are your assumptions”

This is an intelligent observation.

This type of extrapolation by an anonymous poster as you point out is as valuable as deciding that all Australians love blue cattle dogs because of how popular Bluey the ABC cartoon is on television.

One observation I will make about the capital raise is that a number of posters have claimed just like myself that they hold their BRNASX shares via Self Managed Super Funds.

I suspect like myself that some will be in the pension or retirement phase of their fund where they are no longer entitled to make further contributions to their fund.

What this means in my case is that I have a fund which is finite and managed in accordance with the investment plan minuted by the Trustee and Audited annually as meeting the requirements for a complying fund.

Good management of any fund involves having a sensible approach to investment and earnings within the fund so as to have sufficient liquidity to satisfy annual minimum draw downs for each fund member.

In other words my fund has every dollar allocated at least 12 months in advance to various investment classes such as shares, fixed deposits and realestate.

To participate in the capital raise our fund would needed to have sold BRNASX shares acquired at a much lower cost base to buy back an indeterminate number under the capital raise or sell other shares or real estate to free up capital.

It just did not make sense so I did not participate.

This was not a reflection on my holding an adverse opinion about Brainchip’s future prospects.

The small amount involved in the retail component of the capital raise was clearly not critical to the companies survival and I likened it to an olive branch for those retail who were concerned about only institutional investors having access.

From a scientific point of view given the widely different character of the 30,000 plus retail investors nothing can be drawn from participation in the raise particularly in the present economic environment and the likelihood that interest rates will not come down any time soon and may well even increase.

My opinion only DYOR

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