CDY Half-Yearly Analyses, page-9

Pharma

Don’t forget that the half-yearly applies to the period to 31 December 2018. The last 4C report also applies to the quarterly period to 31 December 2018. Hence the position at that date of cash & cash equivalents and receivables will be the same as reported there. The 4C also details cumulative finance costs and loan reductions for the first two quarters of the financial year, so those figures also are available already. I would not want you to be disappointed in watching for those unnecessarily.

What won’t become available will be a detailed release of part of the Company’s valuable IP in the form of the results of market research it has undertaken over the years at material expense. Invaluable to a potential competitor would be a breakdown of which market strategies and which product distribution channels would be the most profitable for them to concentrate on at entry.

Management fortunately has the business acumen to understand the importance of keeping such information confidential, even if some shareholders do not.

I doubt that any accompanying update will be dumbed down in order to accommodate millennial expertise.

Cheers