There is no 60 day off clock period if no RFI is requested, the quarterly reinforced that no information was requested. If the clock didn't begin until the initial validation, we'd still be at the 150 day period before the end of June. There is nothing in the British system that says they must wait to day 150 to reveal their judgement. It's their ball game, if they must, they'll take more time and don't have to ask anyone's permission to do so.
I'd still not be surprised to hear from the company next week, but if not I'm really not certain that they'll actually set a date for the Annual Meeting until they do. If that meant moving the meeting into July, it wouldn't be the first time the company modified their guidance. I would hope that when the company gets the UK decision they not only PR it, but also schedule a webcast with investors and others to discuss it. The Annual Meeting, if not scheduled formally until they have the UK decision will probably be at least 20, and probably 30 days or more later.
I don't know if there have been any discussions between the UK authorities and the company during this period beyond what was said in the quarterly, where preliminary and full validation was confirmed. I don't believe investors realize how much communication there may be, but until something's official it may not mean much.
What actually may be of greater importance could be any discussions the company may be having with the other regulators as far as how they may act after a UK approval. I don't know that it's impossible that others, most likely Europe and Canada, may piggyback the UK approval with no or minimal effort required for additional approval.
It looks like the MM's are taking us down substantially at the close, after we went slightly green just minutes ago. If anyone wants to add shares, doing so now would get you a good price.
Gary
Gary
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