Ann: Update - Notification of buy-back - CUV, page-9

Yes, I also am not advocating legal action, just commenting on what an interesting scenario it would create that is all largely avoidable if the simple and modest buyback was completed. Mesoblast did also settle a class action and has gone up massively in value despite doing so. So stranger things have happened in the market. My belief is a lot of shareholders would love to see the buyback, particularly at this ridiculous and manipulated valuation. Some shareholders wouldn't like to see it as well I guess. I'm sure the short sellers would NOT like the share buyback to take place, that would upset their very easy daily market manipulations quite a bit, might even cost them a few bob.

As a reminder here's what the Clinuvel board of directors said about the crazy undervaluation, and also what the company said in a newsletter regarding the share buyback (underline mine). Despite disclaimers I would have expected a straightforward capital redistribution after all that.

"Board of Directors view current market capitalisation as decoupled from the Company's value". PW said on the same release"Given expected earnings, underlying growth in existing and new porphyria markets, current cash reserves, and projected expenses over the next 12 months, redistribution of capital to shareholders through a buy-back program is appropriate".

"We have chosen the moment of a repurchase as first clinical results for 2024 are published, and we will keep at it until those who gamble against the Company have understood the message.Given the expected future cash flows, we are in the position to prolong the program when required, since Board and management do not believe that market value has reflected the Company's performance in recent months. To those shareholders who have proven supportive,we have waited for the right moment to strike on your behalf."

"The share buy-back further increases the relative percentage of ownership for our owners, and thereby compounds CLINUVEL'S strategy to minimise dilution.With 1,500,000 shares (or approximately 3% of the outstanding share capital) to be repurchased, we hold a longer-term view on capital management without jeopardising plans to reinvest and expand the Company."

"The first trading days after the buy-back announcement on 14 March dispelled the myth that the share price is reflective of performance only"

All IMO DYOR