He sees a very cheap investment given the massive upside...

He sees a very cheap investment given the massive upside leverage. He talks to people in surgical centres managing back pain. He knows that if a partnering deal is done the price will shoot upwards, and there may be other contacts he has to make him confident.He is now the controlling shareholder. There is no major insto support. SI owns less than 7%. If he were acting in concert with SI, their combined holding would now be over 20% - that could be regarded as a relevant interest in over 20% if they were acting in concert - so I presume that they are not regarded as associates under the Takeovers Code. That would mean GG is free to buy up to 20% before making a takeover bid. He could remain between 19-20% for 6 months and then "creep" by 3% every 6 months. FIRB could be a consideration but generally an American could buy 20% before notifying as long as the market cap is below $A1.427m or $A1.25 per share. I don't know if Bahamanian citizenship complicates that. Meso hasn't been declared critical for foreign investment, so that isn't currently a problem either. It looks like he is progressing towards 20% - then he can decide how well the company is being run and whether he needs more control to get the best outcomes. PF just took up a key role on the Board and the Chair was tossed - so things are improving.

ET

Aloha