Ann: PharmAust Granted SME Status by European Medicines Agency, page-14

I couldnt find the actual benefits for countries out the EU.

The 'benefits' are the same for companies based in the EU as one's not based in the EU.

As @FloatingCity pointed out, recognition as an SME by the EMA has zero to do with geographic location.

As @Icebluedenim pointed out, most of the benefits that come with this recognition apply to reduction in fees and costs of services when the SME has dealings with the EMA.

So it's pretty clear that SME recognition is a favorable thing for PAA to obtain, but where it will actually benefit is when PAA start moving into EU territory. Most reasonable people would not expect this information to have a material effect on the SP (and we saw that in action yesterday). Similarly, most people would agree (as the ASX seems to) that this information is unlikely to influence persons who commonly invest in securities in deciding whether to acquire or dispose of PAA shares.

It's a box ticked. Good to see our Board & Management Team not just sitting around waiting for a call from Bucky!