Within the next few days the 2,391,865 shares issued on 30/4/21 at $1.421 for the Glioblast milestone (initial announcement 31/3/21) will be out of escrow.
I'm expecting that they will immediately be on sold to Platinum.
Why?
1 - Platinum sold nearly 1.5m shares in the Feb-Apr period and just over 1.3m shares in the Nov - Feb period
2 - the annual report had Platinum holding 9,878,436 shares and Hopper/Cheong holding 0, which was then amended shortly after by ASX announcement to account for the escrow so the revised Platinum holding was 7,084,856 (no change from their last notice of 7/4/21), Hopper 1,793,899 and Cheong 597,966.
So Platinum in the AR had increased by 2,793,580 and Hopper/Cheong decreased by 2,391,865.
I'm not sure what the difference of 401,705 for Platinum relates to - maybe they had negotiated a deal to buy that amount from someone else at the end of Oct as well (maybe from Simcere?).
Let's see what happens - although if Platinum is buying on market it's possible that they won't lodge a substantial shareholder notice until they have finished buying.
But I do not expect Hopper/Cheong to be selling on market.
Within the next few days the 2,391,865 shares issued on 30/4/21...
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