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7.1¢ cellmid limited

Ann: Clarification Announcement, page-3

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eieio

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24/09/18

12:56

Post #: 35798741
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Originally posted by Dentie ↑

"Blue Ocean Equities, an independent Australian broking firm with a focus on institutional and sophisticated investors, has initiated coverage on Cellmid. The broker has suggested a price target of $1.06 per share, based on Blue Ocean's DCF valuation of 75 cents per share for the consumer health business and 31 cents per share for the midkine assets. A strategic price of $1.35 per share has been added, based on obtaining regulatory clearance in China for évolis®."

(The bold emphasis is mine)

Somewhat surprisingly (to me), the ASX has requested CDY's clarification. It was already clear to me that the Board was not, in any way, providing their opinion on whether Blue Ocean's target price was realistic - or whether they even felt flattered by it. And it is equally clear Blue Ocean serves "S & I investors".

Rather than focussing on soft and mundane announcements like this one, I would prefer to see the ASX spending their time looking for the more serious and murky type of activity.

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Great to see that the highly encouraging research report by Blue Ocean Equities was NOT commissioned by Cellmid. Has to be a big positive for Cellmid going forward, given that so many ASX-listed companies commission research reports nowadays.

CDY Price at posting: 38.0¢ Sentiment: Hold Disclosure: Held
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