franklyn brazil throws in towel, page-8

I look at this share as a defacto IPO of PolyNovo Biomaterials.

Forget all about the Metabolic Pharmaceuticals of the past. That company is history. We are really talking now about a shell company about to be transformed into PolyNovo Ltd. as the major holding company for PolyNovo Biomaterials.

With a new large institutional investor involved, and a revamped management and board, I expect that the formal corporate identity of PolyNovo Ltd. will soon be adopted and MBP will be merely a memory. Is PNO taken?

I'd also expect that Metabolic will exercise its right to additional shares in PolyNovo, bringing the parent company's share in the subsidiary to about 80%.

At some point it is possible that the shares of CSIRO and Exceed Capital will also be acquired, but that is not of any urgency, especially at the cost of unnecessary share dilution.