Abobo, Nockname et al, Get over it. You did not read the play....

Abobo, Nockname et al, Get over it. You did not read the play. Your self-conferred guru status is over. There is a deal on the table, the largest biotech recapitalisation ever in Australia, over 8 times the market value.

The first of the 5 milestone formalities takes place tomorow. The tune is now being called by IFCA, the Court and the shareholders, not Chemeq or Williams, so their historical procedural lapses are irrelevant.

Despite what some bondholder supporters think, they have no choice to reject what they asked for - $60m redemption monies. There could be a little negotiation on the interest and costs, but that is up to the Court.

If they had wanted their regular interest payments until March 2008 they did not have to initiate the redemption move.