Ann: Feasibility Agreement, page-23

A really hard look at this announcement highlights some concerns re: padding and 'saleslyness':

"In compliance with its continuous disclosure obligations announces ..."

Um - the market knows why companies have to announce things. You don't have to tell us you are complying but I guess you filled up half a line.

"The objective of this study is to assess, in a holistic manner, the multiple advantages that Mix&Go and Anteo knowhow can provide across the device"

My concerns are firstly with the use of the word "knowhow" (is this one word or two?) and seems more appropriate for a Bunnings ad, e.g. 'Bunnings has the know how - come on down and grab a deal!'. Aside from Aussieism's and slang in announcements the next statement seems precipitous - how do we know at the start of the study that Mix&Go can provide "multiple advantages" across the device if the study has not been done yet? Is this Geoff's opinion? Bit cart before the horse/salesly? What if it turns out that there are no advantages or the advantages are not 'multiple' but minimal/negligible? Will Geoff be in trouble with the ASX again?

"Depending on the outcome of the study further commercial negotiations may be undertaken"

This seems like back tracking - in the previous statement the statement seems more absolute and certain that the assessment of the multiple advantages that M&G can provide across the device and now he is saying that further negotiations are premised on the actual outcome?

“For the first time we will be able to tune the system for our benefit rather than trying to extract benefits
from a system that has been tuned for a non - Mix&Go approach. This concession allows us to target a best in class product for our partner. The ongoing feedback we receive from our client continues to be encouraging"


"Tuning"? While there is some merit in avoiding jargon this is a bit too much of a reductionist approach. Cars are tuned, so are piano's. Important hand held medical systems are not. A bit more science lingo here would have been useful - if someone can tell me what 'tune the system' actually means then you are doing better than me.

“This announcement is testament to the strength of our patented technology and the respect in which our scientific capabilities are held”

What is the point of this closing sentence - sure - it pads the announcement to a full-page but Geoff is telling us what the announcement is? Um - we can read Geoff. Very salesly and parochial and a bit off-putting. Also seems very subjective/opinion-based - who is 'respecting' ADO.

Budget allowing - ADO should really consider engaging professional marketing and/or full time legal advisers for ASX announcements. I hope this analysis is taken in the right way - good scientists/management does not necessarily equate to getting a good announcement out.


I really think ADO missed the boat here in getting a valuable, detailed and less 'sales pamphlet' style announcement out to the market. This is a great development for ADO and they missed the opportunity with a vague and unprofessional announcement.