Quoting page 14 of 08 BTA Report: “ The value of the equity...

Quoting page 14 of 08 BTA Report:
“ The value of the equity incentive for each qualifying member of staff is calculated by the method described, reviewed by the Remuneration and Nominations Committee and used to secure options over un-issued ordinary shares, at an issue price equal to the Company’s share price on the grant date, normally on 30 June" .

It appears the following issue in the report dated 8 May 09 from ABNAMRO is correct- Quote: “We note that in Japan the patent for treatment has been extended to 2016”. Peter Cook had been talking down the sp to the market. A lower sp on 30 June 08 increases the number of options for Peter Cook and his mates.

Patent protection is one of the most sensitive and direct matter affecting the value of a company like Biota. It is absolutely incomprehensible for BTA not to announce an extension of a patent to the market. If and when a patent extension is granted Peter Cook owe a duty to inform the market. Coupled this with the idiot talking down the sp and the fact that BTA executives stand to gain from a lower June sp, shareholders should be outraged.

In mid May 2008, Peter Cook decided to suspend the company share buy-back and failed to inform the market. On 30 May 2008 Peter Cook announced to the market as if the shares bought back were for the whole month of May and thereby misled the market and no wiser that the idiot had suspended the share buy back from mid May through to July. Obviously continuation of the share buyback through June had the potential to support a higher share price which would mean lesser no of options issued to Peter Cook and his mates.

It is high time, shareholders emailed Peter Cook to demand why he failed to inform the markets of Relenza purchases and extensions to Relenza patents.

Peter Cook has to be one of the most idiotic CEO of a ASX listed company. Despite, Relenza being the most important BTA’s income and sales figures public published on GSK website, the idiot reported the wrong Relenza sales figure to the ASX. Weeks later when correcting the figure, he blamed GSK for the revision and we know as a matter of fact GSK did not revised the figures on their website.

The idiot refused the $80 million plus legal costs offer from GSK, then went on to burn $10m of additional legal costs and settled for $20m. Thinking shareholders will be no wiser of the GSK offer, the idiot told shareholders that it is his great achievement, blamed the financial loss on Peter Molloy and then asked shareholders to vote on a resolution to reward him with 430,600 free options. After shareholders voted down the resolution, the idiot collected his options and announced it to the market in December hopping shareholders were to busy celebrating Xmas to take notice.

Come on shareholders, what are we going to do about this? Peter Cook the Idiot talked down the sp; failed to tell the market of Relenza sales, failed to inform the market of extension to Relenza patents and he Peter Cook stood to gain from a lower 30 June sp!!