Ann: Change in substantial holding, page-61

Yes mce .

I wrote an essay to @strateg1c8 , sorry but lost it .
I can’t see anything not to be very satisfied with now, in fact fundamentally RAC has never been better and this is still only the beginning. There has been enormous work being done by very qualified people , industry best advising consultants & global leading specialists in the last year - particularly as well in the last 6 months after Sheba , & City of Hope trial and study results being released.

I am grateful to our major shareholders for their loyalty & even promotion of the company and bisantrene .
Great dedication involved with holding investment in RAC by many in the last 5 years - especially by management past and present & they worked hard for RAC also .

Merchant simply had to sell down - ‘a few’ . I thought they may have meant more but clearly they’ve kept it to the minimum they had to sell .
They always did , have to sell some , due to the rules of their fund and ceilings —and explained they would have to , but not until $2 . They have been true to what they said .
They are overall very supportive and have been since they came aboard , & , they see RAC going on and above from here.

MOH are still a major top shareholder and can see they also shuffled some shares I think.
David Williams , & the third of the amigos are buy & hold investors .
**These three have done this all before with Polynovo. Where they invested back ~ 2013 ? possibly .
However Merchant Fund had to sell Polynovo shares at certain levels due to their fund covenants.
**Despite it ran on to be the $2 billion company it is today and Merchant being very positive about the company they’ve invested in .