Hi all,Attended today's CZD AGMFirst point of interest was the...

Hi all,

Attended today's CZD AGM

First point of interest was the excellent attendance rate. Last year, 3 shareholders attended the AGM...This year, the room was full!....People really taking an interest in their investments

As you all know, Mr Franklyn withdrew his nomination for re-election as Chairman and is no longer on the Board. Dr Astin will become a non Exec director and, from what I could tell, will become the new Chairman of the company. He seems like am eminently qualified candidate who is a proven entrepeneur with substantial commercialisation experience

I believe that, finally, there was the recognition that Mr Franklyn's skill set was not such as to progess the company in its transition from research to commercialisation. Whoever's decision it was, the fact remains that the Board is now taking on the right shape for this stage of the company's development. Interestingly, Dr McQuillan was in attendance from the USA, as was Professor Greenwood.

It should be noted that Mr Franklyn conducted the meeting with complete dignity and preofessionalism and his contribution was noted

Mr Fossaert and Mr Kenley both gave good presentations and the opportunities for both products are immense. For me, however, the star of the show was Prof Greenwood who gave an outstanding presentation which illustrated exactly how good this product really is and how passionate and proud he is of its progress. He is a very impressive character.

The regulatory process for the Polynovo suite of products is complicated, but they are making good progess and the level of interest internationally is high

As far as concerns Metabolic, the Board are reviewing the likelihood and size of income streams in the short term and weighing it against what it would cost to commercialise AOD9604. We should have a decision shortly. Personally, I'd like to see it stay part of CZD but, as the Board pointed out, the decision will be taken in light of what they believe will deliver the best outcome for shareholders. I'm sure Dr Astin will feature prominently in this decision making process.

As far as concerns the market cap, Mr Franklyn acknowledged that the company has not done well at all in " selling" the story and I believe this is on of the prime motivations in Dr Astin's appointment

Some very salient questions were asked and they were well answered too...it's clear the body of shareholders closely follow their investment

all in all, a very worthwhile and uplifting meeting which was held in a cordial atmosphere with mutual respect between Board and shareholders