The key wording for the Trading Halt is “the finalisation of a...

The key wording for the Trading Halt is “the finalisation of a funding agreement”.

Thinking wildly. It could hardly be the complete take over of NSP, and even less just another loan. From far left field, two years ago there were two good offers to fund the development of SpermSep, for a substantial stake of course. I doubt that management has spent much time furthering that project. That leaves the obvious conclusion that it is what we have all been waiting for: a stake in the Prime Biologics venture with Xeraya. It is 5 months since the Xeraya Board gave the approval in principle to invest in Prime subject to a list of conditions. No doubt they also wanted some defined conclusion. Both parties certainly desire the project to go ahead and both want the controlling stake.

The leading question that needs to be answered in the ASX announcement is the relative stakes of the parties and whether a third party has been introduced as NSP management were hoping.

Yes, I’m not surprised that there has been some insider trading. After a year or so of jockeying between the companies, an employee would only have to hear in the tearoom that a decision has at last been reached (without knowing any details) and he /she could pick up a few 100k shares in anticipation. No, it wasn’t in my tearoom.

Juke