Ann: Intravitreal Injections , page-18

I think there's a good opportunity to buy this sub- 40c prior to AGM, where I expect upbeat guidance and am hopeful of a re-rating to the stock. Potential catalysts (from a recent 'independent' presso):

-Look to confirm EBTIDA guidance of ~$25m

-Given reduced debt and margin this will see FY13 NPAT ~ FY12 despite II hit

-Underlying growth is higher than was the case in FY12 (rev growth was just 3.7% but FY11 had revenue that was discontinued in FY12)

-Improved investor communication / transparency / understanding of change in model

-Ultimate catalyst: Dividends resume with Net Debt to EBITDA ~2x