quarterly out , page-64

Great questions Spice though a few are not relevant IMO,

"Will these shares be issued in accordance with the Remuneration Plan as of the 2007 AGM, E.G. Shares issued under this Plan are to be issued to Participants in July each year at Market Price."

It is pretty clear from the announcement that this is not the case as it is clearly stated the conditions under which the 28 mill shares will be issued so why ask? Maybe the question you are trying to ask is WHY aren't these shares being issued in accordance with the remuneration plan?


"The issue of options to Denis and Vagif seem to be double dipping on the agreement from the last AGM, are they being issued above this agreement, or is it to compensate for losses as in Solamind’s case, if so will monies from litigation be returned to SLA? Perhaps the issue of Options should be valued in July next year, as SLA’s real value will be clearer then."

I'm sure the answers to the first two questions is yes and yes though they may not answer such. I think these could be left out due to the answers you will get will probably be irrelevant. Cut to the chase with this question and just ask "will monies from litigation be returned to SLA". This is what is important and will stop them hiding the answer to this question amoungst dribble about the others. The question about the value of options is relevant but I think they need to be priced at a level that is affordable (that is if you agree they should be given the options in the first place)


"Please explain the why Russia gets Ropren at a certain, cheaper price as compared to the rest of the world and how is this calculated?"

"Please explain the why Russia gets Ropren at a DISCOUNT price, as compared to the rest of the world, and how is this calculated? ; is it because Russia,, even though they sold ALL the rights to Bioeffectives,,( bar some fairness equation we all feel ), are providing Tomsk as an insensitive and SLA have done a ‘LONG TERM DEAL”?????, if so….what’s the deal?????......cheap for 20 years then market value?....."

These are the same questions and irrelevant. Ropren is a listed pharmaceutical in Russia and Russia only. The price was determined through negotiations with the RMOH.
You are looking at this question from the wrong way round.

Russia does not get Ropren at a discount!

Negotiations with the RMOH have decided the price.

The rest of the world will pay a premium due to the fact it is not a listed pharma and so Solagran can dictate the price without having to go through negotiations with the various governments.

The question you should be asking is

"how long is the contract with RMOH to supply Ropren at US$1125? Is this price indexed to grow with inflation?"


"What is the cost of producing a course of Ropren, i.e. profit margins in this respect?"

This question was covered in the info evening. They cannot accurately price costs at the moment as the sale of other bio's (if and when) they occur will impact dramatically on the final production cost of Ropren.


Spicer, please take this post the way it was intended. ie positive critisism.