Ann: Pause in Trading, page-104

Apologies the table looks totally different from what I posted.
Ill try again
As we sit with bated breath awaiting the outcome of the latest TH I have been reflecting.

In a recent post I used and example of when MSB did a capital raise soon after a positive announcement (Grunenthal relationship).

In that raise it was at 3.15% discount to the 10-day VWAP price.

Using that example and basing it on today’s numbers resulted in a potential Cap Raise price of $2.898.

I think like many LTS I’m probably a bit gun shy (dare I say, a bit like Oliver Twist, asking for “more please Sir”) and as a result somewhat conditioned to expect a discount similar to the above.

However, we are in a far stronger position than 2019.

We actually have very good reasons to be confident, based on the following:

• The company has been significantly de-risked
• Has the first approval by the FDA in what is a paradigm shift in medicine
• A plethora of patents (providing a significant moat)
• A number of blockbuster products in the pipeline (as frequently discussed here)

I know @ddwn has a long list of the opportunities, imminent and otherwise so I do not want to replicate his great list, other than to state the obvious that we can negotiate from a position of strength.

Ie we could look for a premium rather than a discount.

How many large corps can see the potential and wish to have a slice of the pie, how long would it take gain a reasonable stake with bots and the risk of a good news event dropping and causing a significant SP rise?

Finally, for fun I thought that I would look at the current incentives (based upon the published shareholdings) for our BoD to get the very best deal for every shareholder.

I looked at the number of shares each director held as of the 29th of Aug 2024, & what that equated to in value (AUD) as of last price.

I also looked at the impact /value of a 1 cent change to each director based upon their shareholding (I know there are some on HC who would be similarly impacted). The figs come from the FY24 Financial Report.