SH Block and List of Questions, page-13

I think many of us would like to know how some brokers (Morgans?) and shareholders got wind of what was to be discussed at the oral examination, and would the directors cooperate in an investigation and prosecution of the perpetrator/s.

I expect that the EMA would have notified TIS in advance of the oral examination to give the company sufficient time to assemble facts and travel to the venue. No doubt they would also have briefed the company on the nature of what was to be discussed. I strongly suspect that someone who had access to this communication, as it came in from the EMA, passed it on to one or more brokers, initiating the dumping of shares prior to the meeting even taking place. Whoever had access to the oral communication questions would have known that a positive opinion was going to be a long way off. There's a chance the leak could have come from a CHMP member but, on reflection, that seems less likely. Having spoken with some of the directors and management over the last 3 years, I know they are very wary of infringing insider trading regulations so I'd suspect the leak came from some way down the pecking order.

I know this isn't going to make any difference to the ultimate outcome of our CE Mark application, but many holders have taken a big financial hit, and I think it's important to ensure market integrity is maintained in the interest of all concerned.