General Comments / Chat, page-10151

ALL IMO

I have to disagree.
The Board is not obliged to accept any offer they deem below value.

I would expect the Board to advise Shareholders a comparison between the offer and what they deem as full value for the asset. The Triangle report is a good place to start.

Secondly, the fact that an offer is received indicates that it it not only the RAC Board and SHs that believe in the future value of the asset. It will trigger other interested parties and soph investors to take another look. i.e. it will shift the perception of Bisantrene being an old outdated chemo drug, to a tried and tested and previously approved drug with a massive potential to treat circa 20% of all cancers and more importantly protect the hearts of 100% of all cancer patients. Imagine that? Bisantrene is given to every cancer patient for cardio protection! Given imminent patent expiries, I would think other BPs could not ignore the situation.

I just finished reading "For Blood and Money" and it seems highly unlikely for a takeover by big pharma as they will want to see the asset further de-risked before stepping in.

An opportunistic VC backed enterprise might try, but their risk is not retaining the existing staff who have all the IP and experience in Bisantrene. It will likely set the program back a year or so. If they kept the same team what is the benefit to existing SHs? We would leave money on the table. Yes, they might bring some extra funds, which it seems is not an issue if the Board decided to raise more? Look at all the punters wanting the unexercised bonus options....

Our SOI and how tightly held register makes a hostile takeover difficult. It was recently reported that the Lambo club (100k plus) has increased their overall percentage ownership. It appears the Lambo's conviction in the asset and the team to realise the asset has only strengthened.

Cheers