Hi All,This was my 1st Mesoblast AGM and it was encouraging...

Hi All,
This was my 1st Mesoblast AGM and it was encouraging meeting others from the HC forum.
Thanks ddwn for your report - well covered.

My take on proceedings: Apx 40 attended
Chairman Joseph R. Swedish address the meeting via a USA audio link, a comprehensive overview however much of it was already laid out in the 247 page annual report - a massive amount to digest !!

I then asked the question about the current decline in the share price vs the proposed adoption of the Remuneration report - how the hands are out for more reward by our Directors ? it was direct and the response was predictable - Senior management have reduced their salaries, Director fees deferred by 50% so both will be compensated by equity-based incentives, not to mention the very generous option arrangement's - so it was passed !! Never complained at any AGM when the business is making money !!

Then Silviu took to the podium and for the next 50 odd minutes went thru most of the presentation that was posted with the ASX after the meeting, all informative and positive in my view.

Silviu was then asked about children under 12 with SR-aGVHD having an un-met need, he said approaches were plenty by doctors and support was being provided.

The Company focus and objective was getting Ryoncil (remestemcel-L) FDA approved first, Dr Krause is the key, with many FDA past decision makers "moved-on" to pursue other interests, his experience and relationships within the FDA will guide our products thru the hoops and provide the "saving of the FDA face" pathway forward then we are off to market.

We know the core MSB platforms - Ryoncil, Rexlemestrocel-L (back regenerative) & Revascor (heart disease), all significant with massive up-lift when the ball starts rolling and product becomes available that will make a major difference to patients and save lives.

After speaking with Jane Bell (MSB Banking/Finance Lawyer) we are on the cusp of our 1st FDA approval.
I was fortunate enough to spend some time with Silviu after the meeting, asking some core questions and it was clear to me and confirmed we are ever so close - he could not divulge to much as everything that is market sensitive must go past regulators especially in the US, my interpretation is Ryoncil SR-aGVHD should be done in the 1st quarter of next year, that opens the door being the 1st of its type and Dr Krause will have our other platforms lined up not to mention serious Pharma partners in place or beating down the door to be part of this paradigm shift in stem-cell treatment that will translate into substantial returns.

What was of concern - Take over Target
With the share price so undervalued it would be on the radar for some financiers to see this as an opportunity, Silviu said yes this was a possibility however key stake holders including SurgeCentre are onside and our funding arm thru Oaktree is solid so providing we retain 45 percent under his wing we are safe, in fact I mentioned to help restore retailer confidence was he in the position to purchase more shares on the open market like Polynovo's Chairman Mr David Williams does {who he personally knows}, response - yes he plans too, so the MSB funding concern to me was put to bed.

This is not investment advise just my Take/opinions on what l observed and hope it helps some of you guys.

ST