I am posting this using my personal handle as this topic really...

I am posting this using my personal handle as this topic really more about me than RAC.

I know nothing I say means anything, but if you study my actions over the last 5 years you will see I do care about looking after retail investors - it is one of the things that make RAC very unusual by ASX standards.

You might ask why? Firstly, it is the right thing to do. Secondly, there is a gap in the capital markets that can be used to fund companies if you choose to focus on putting retail first. As RAC has shown over the last few years, you can run a medium sized biotech (by ASX standards) purely with the support of retail investors. There has been a massive change in the capital markets over the last decade with many retail investors moving to managing their own investments rather than just buying whatever the “full-service” broker tells them to buy. Not many companies have adapted to this change, thus providing an opportunity to do things differently for those companies that recognise things have changed.

The bottom line is you should not let your experience of other companies throwing retail investors under the bus to obtain funding from the instos and sophs to judge RAC. For better or worse, RAC is different.

None of this means that RAC won’t turn to institutional investors in the future, but if we do it won’t be at the expense of retail. All shareholders must be looked after.