Re cash, we all know they will need more cash in the next 6 -12 months, with the timeline dependant on how much runway the board / Dr Hocking wants to keep as a buffer. My read of that was that they were going to try to take it to mid-year to allow themselves the chance to do more deals and / or progress the internal projects to the point where better value could be realised.
I'm also inclined to think they'll try to get a cornerstone investor to underwrite the business going forward than a shareholder based CR, in which case I'm not sure about the current SP action being related.
I'd be pretty darn disappointed though if there was some bad news coming out as they've only just told us how well they're going and that they're optimistic about the science and commercial outlook for the business.
Bottom line, no idea, but suspect it's a shareholder offloading more than anything else. Hopefully we'll find out what's going on soon enough.
PYC Price at posting:
1.7¢ Sentiment: None Disclosure: Held
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