Ann: Race Oncology 2023 Chair's Address & AGM Presentation, page-71

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Wapps01

29 Posts.

29/11/23

14:51

Post #: 71171524
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Originally posted by RitzyBusiness: ↑

I just found out about Charlie Mungers passing from another HC RAC post. He was one of the most rationale investors.

Here is my favorite quote from Munger, that definitely applies to RAC with Dr T’s CEO options with exercise price of $4.25 above ATH. I have never experienced executive options priced at almost 5x current sp!!!!! Usually only 1.5x or 2x.

I was also in attendance at the AGM in Sydney. My feedback …

Dr T is more bullish than ever on prospects. Triangle report and targets are too conservative.
PS is an excellent addition as ED. He is eager to start business development and marketing to institutions. Road show to come. This is his love and passion and he has over 10 years experience as sell side equity analyst from UBS and HSBC. He knows how to sell a good equity story. I just wished PS can be 100% dedicated on RAC. IMO, His past experience as equity analyst and biotech exec, beats pharma drug sales experience.
Key management personnel all on board with strategy and Dr T’s leadship and vision.

My view:

I wouldnt be surprised if insiders (directors and management) start to accumulate at these levels. This is the sense I got from talking one on one with a number of RAC team members.
My reflection on why Dr T, was not also made MD when the last 3 CEOs were also MD … a director needs to disclose trades within 5 business days (no matter how small the trade), whilst non-director (who is a significant (>5%) holder) only need to disclose trades after 1% movement in holdings, for RAC that is accumulation or reductions of holdings of over 1.63m shares. Could Dr T still want to accumulate and only want to disclose after accumulating another 1.63m? He will not be reducing IMO! This is just my speculation after the AGM, I didn’t discuss this with Dr T.
The RAC incentives (bonus options and CEO package) are set with shareholders in mind …. Hence I am confident of a positive outcome for all of us holders.
Time for me to look forward and stop looking in read view mirror. We all have the same choice … buy, hold or sell at this time. We can’t redo or undo the past.
I was buying during the AGM and after.

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I was also excited by His past experience as equity analyst and biotech exec and as you say beats pharma drug sales experience.
RAC Price at posting: 88.5¢ Sentiment: Buy Disclosure: Held
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Ann: Race Oncology 2023 Chair's Address & AGM Presentation, page-71

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