Thank you for sharing these figures, williamteddy. It is...

Thank you for sharing these figures, williamteddy. It is beneficial to monitor the share registry, so thank you for taking the time and effort to do so.

I may have misinterpreted your message, but I feel that I should clarify that my holdings are not covered under item e). My holdings are spread across multiple accounts, and one or more are listed on the share registry as custodian/nominee accounts under the name of the respective financial institution(s).

I believe that the 6,776,012 shares (item e) are, or at least were, held through a nominee account, which entered the share registry in late December 2023. The account name has been around for many years and used by multiple individuals in the past, so I am very intrigued as to who the beneficial owner of the shares is.

The dates and number of shares roughly align with the additional shares acquired by the parties listed under item f), but you imply that you saw the 6,776,012 (item e) in addition to the 17,214,503 (item f) accounts. Are you indeed positive that is the case? If so, the parties account for ~7% of issued shares, and I hope that their intentions are aligned. I have no relations to any of the parties.

RG can spread his holdings over any number of accounts; all that matters is that he correctly reports them in his change of director and change of substantial holding notices. He must account for all shares that he has a direct holding or relevant interest in and is limited to paying $0.84/share. Additionally, he is unable to offer additional benefits to other holders/funds, whether those benefits be financial or otherwise. People do, however, break rules and regulations every day. I believe that the previous (inaccurate) reporting is unacceptable, and he can’t make too many more errors (whether unintentional or otherwise) without being subject to further action.

There has been recent trading in an attempt to influence the price, which is not necessarily unusual. The positive is that it can provide opportunities for holders (other than RG) to increase their holdings and of course for holders to sell their shares above the offer price if they feel that it is in their best interest.

There have been several decent-sized trades selling into RG’s bid during normal trading hours, which have seemed odd and took me by surprise. It happened on one or more occasions ~1-2 weeks ago, and although I had orders in place to accumulate some of the shares, a sizeable number went to RG. I suspect that the other parties who were accumulating during that period were also taken by surprise.

I will be interested to see any updates to the share registry in the weeks to come.