Ann: Paradigm AGM Presentation, page-11

Another small point of note, is that in terms of the Resolution to increase the remuneration pool for the BOD....this is for any potential expansion of the board, rather than to bump up the fees of the incumbent directors. The idea which the Chairman presented, is that this is pre-emptive due to the fact that they are targeting a break into the US marketplace, and so we may want to bring in a US director or two in the not-too-distant. I find this to be a sound strategy, and hints - along with other revelations today about the boards process to decide on a preferred pharma partner - that these guys are aiming to see the journey through, rather than position the listco for an all out takeover. Just the vibe I got.