vote no to la jolla

I am writing to seek your support in voting NO to the upcoming resolution to the issue of:
(a) a Convertible Note; and
(b) ordinary shares on conversion of the whole or part of that Convertible Note,
under the Cellmid Funding Agreement as set out in the Explanatory Statement.
My simplistic summary of reasons why follows.

1. We have seem some truly significant milestones over the last 6 months in particular with respect to the MK ELISA. The potential therefore for increased revenue from the Celera License is explicit but unquantified (I have asked Maria but she stated that she cannot give more details due to confidentiality reasons, I will ask her again at the EGM).

2. The Advangen or hair product side of the business has commenced and we should hope that we will see positive news and revenue announcements soon (it is a logical extension if we are still shareholders that we have faith in the Management).

3. La Jolla have not been a LT holder of shares and dump them as soon as they convert into shares, this is public knowledge. They have contributed to the downward pressure on the SP and the only reason they have not continued selling is because they cannot convert due to the 15% rule.

4. Dr King has a track record of delivering results, most recently the take-over of ESG by Santos (Dr King was a founding shareholder and director of ESG) but the ESG journey was not without its hiccups also. The end result was fantastic, the journey was exciting. I am confident he has the ability to spot winning technology and management (I have seen him in action removing Directors before) and I am more than impressed with the results that Maria has delivered to date on a v limited budget.

In summary, I believe in the stock and am confident it will deliver very good returns IF WE DONT HAVE AN OVERHANG OF NEW STOCK FROM A PUNTER LIKE LA JOLLA.

I am confident that alternative funding can be found for this technology, many other small caps are raising equity and therefore I believe it is time to terminate the La Jolla agreement.

Please join me and vote NO to the resolution. I will be getting my proxy in asap.

If you wish, please email me directly, [email protected]

KR,
TP