Ann: Chairman's Address to Shareholders , page-7

If you have a question RING HIM ..........

It's quite simple .... Then you could tell us .

My concern is of shareholders' ability to manipulate the price . In many cases they do not want to be diluted by options . THEY want the capital raising to be done on their terms .

Benitec's charge , is to see that timelines and targets are met .

If all goes to plan then the options will come into play and the sophs won't be able to wrest control. The next round of finance comes with a partner or at much higher prices .