Ann: Sonic Acquires 19.9% Microba Stake and Enters Partnership, page-6

Yes, strong signal from Sonic that they think Microba's testing product has a definite niche to fill. Now all we need is to see the promised lift-off in sales of tests in the second half of FY23.

I am curious as to why Sonic wants to get to holding 24.99% of the MAP share registry and why Microba, which is still a very young ASX listed company with loads of potential, would want Sonic to hold a quarter of the issued shares. I know the 19.99% level is just below triggering the 20% rule which, apart from a couple of exceptions, is as much of Microba as Sonic can acquire. The main exception is that if the acquisition of 20% or more of MAP shares is part of a takeover process. I don't think that Sonic wants to takeover Microba, does it?? I've totally missed that if they are. But if Sonic is not in the process of taking over Microba why bother going from 19.9% to 24.99%? I don't think Microba needs the extra funds on top of the $17.8m they will get for 19.9% of the MAP share registry.

Have to say that Sonic has picked up a major bargain here because as soon as the increased sales of the tests start coming through into Microba's reporting I expect its share price will spring into life.