NOTES on AGM 2020, page-5

Great summaries guys. Only thing I'd add is that Paul said we'd received unsolicited offers from Europe and the US. Our commercial analyst (Bev) has worked out a NPV for the company and it is substantial. Others have covered the strategy not to engage until one Phase III is done and the company is working with a big bank to assist if a hostile takeover starts (although I'm not exactly sure what would actually happen here). It does undersore the importance of keeping the retail holders onside though - so they trust and act if the Board says "Don't sell".

On the voting - I was surprised a little at the numbers but i think all of the votes against were bascially coming from the lack of a SPP in the CR, including the CEO package. It was sending a message that seemed to be well heard - because I was wondering throughout Paul's purse station why shareholder value was getting such emphasis - until the Australian Shareholders Association question got asked and the votes came up. Paul answered it quite well and openly - which he didn't at the webinar several months ago when "time ran out". Hopefully it's been dealt with now.

I had the feel of real excitement from Paul and that the next few months will be exciting for the rest of us. I liked that he said "SP has a very significant upside" as we move into later stage trials.