Having held these shares for many years and having bought at a price well in excess of present, I am not happy as you say "..with a share price between 75 cents to 1.10 over the past few years". To explain my intended vote following are bullet points as requested: . Along with many others I went through the highs and lows of our "failure to perform" case against GSM. I think the Board and management failed abysmally through that whole exercise; I won't labour all the details as I am sure you are familiar with them. This was not an isolated example of poor decision making and I have no faith that they have the best solution now(merge with NABI)for our future. The fact they are recommending it, is of itself reason to be cautious. . In their latest update they say as their opening line that merger with NABI is the result of "...exploring options to improve appreciation of the value of Biota's assets..". We do not have to be on the NASDAQ to improve appreciation of the value of Biota, we simply need to start getting results; that is sales for relenza, laninamivir through the regulatory process and to the market etc. Biota has been to $9 on the ASX, and it can get there again if it performs and stops disappointing. . With in excess of $50mil in the bank, the BARDA "grant", income from Japan for laninamivir and residual income from Relenza (which hopefully will improve) we can do it (laninamivir through development and to market/continue development of other assets) on our own without recourse to merger/NASDAQ listing. If needs be, I believe there is plenty of scope for raising more capital in Aus. . I don't want to give NABI 26% of the company for their $54mil, as I think it sells us short. . Although I understand trading NASDAQ listed shares is for many a straight forward process, for others it will be daunting to the extent they will be squeezed out (feel forced to sell shares, and for a less than what I believe is their true worth). This is the Mum and Dad investors, who I encourage to say no. . Biota management is running a "the grass is greener on the other side (NASDAQ)" story. They may be right, but I am not convinced and note USA have recently had their first cases of domestic Mad Cow disease, so I do not want to be eating their greener grass. . I could go on, but I think you will have got the thrust. I do acknowledge that I am in the minority with these views, the good thing is a minority (25%) will win this argument.
Cheers
BTA Price at posting:
83.5¢ Sentiment: Buy Disclosure: Held
