Dr Radford said the offer was good value for the early investors in the company which was floated in 2001 at 25 cents a share when the Australian dollar was worth 50 US cents.
He said that the offer of $3.55 a share should be considered in the light of the strong Australian dollar.The implication is that for those that did not buy into the float at 25 cents $3.55 is not good value.
