It is clear since the AGM that some shareholders are not happy...

It is clear since the AGM that some shareholders are not happy with both the timing, and the manner in which the AstraZeneca licence agreement and partnership termination was announced by SPL.

The licence agreement and partnership was terminated ‘overnight’ and the very night before the 2024 AGM. This long-standing partnership dates back to 2012. I understand some shareholders have written to the company and also the ASX seeking clarity and explanation.

In another thread some forum members are asking if, where and when Starpharma had previously clearly indicated to shareholders that the AstraZeneca partnership was not active.

I’ll save you the time. Here is my reply to Starpharma’s Investor Relation’s reply, which includes ASX announcements highlighting the ongoing AstraZeneca licence agreement and partnership.

*Of importance and in fairness, I cannot find a transcript or audio upload of the CEO’s Business Update from May 2024, so she may have said verbally that the partnership was ongoing but ‘not active’ but the presentation slides seem to indicate by omission only that the AZ partnership is not active.

You can draw your own conclusions and agree or disagree. However it is crystal clear in my mind that Starpharma should have and could have done things differently and better….

My reply:
Thank you for your response regarding the AstraZeneca (AZ) termination. Respectfully, I wholeheartedly disagree with your summation that:‘xxxxxxxx private and confidential xxxxxxx’

Since July 2023 the ongoing multi-product DEP licence AND Option Agreement with AZ was highlighted on many occasions in ASX releases, and Starpharma stressed that this licence agreement was still in effect. This gave shareholders tangible hope for the partnership’s prospects.

Even well into 2024, Starpharma’s own ASX announcements still highlighted AZ as their international pharmaceutical partner for oncology.
The only ‘signal’ that AZ was not an ‘active’ partner was on a slide in the May 2024 Business Update. Importantly though, I would contend that an omission of information is not the same thing and falls well short of your statement that: ’xxxxx private and confidential xxxxx’.

I reiterate that I am bitterly disappointed at the timing of this news and the way in which it was revealed to shareholders. In my opinion the AZ termination was obviously considered to be of such significant importance to shareholders that the CEO specifically highlighted it and talked about it during her address at the AGM.

The CEO specifically said “it was an important step for us”, “it provides clarity to you all” and “for us it’s an important update and we think it’s a valuable one for Starpharma”.

Given these comments and the hitherto importance of Starpharma’s licence and long history with AstraZeneca, in my mind I believe that in the interests of continuous disclosure, the AZ termination should have been a stand-alone ASX announcement as soon as the market opened on 26th Nov 2024.

In conclusion, below is a chronological list of numerous instances in ASX announcements and presentations where Starpharma clearly indicates that the AstraZeneca licence agreement is still in effect (even well into FY2024), until the ‘signal by omission’ on 22 May 2024. I respectfully disagree with your characterisation that ‘xxxx private and confidential xxxxx’

For your consideration and response.
Kind Regards
XXXXX