Mr Giles Moss has been appointed the new CEO of Palla Pharma; a vertically integrated opiate manufacturer from poppy straw growing through to tableting production.

Giles brings over 30 years of commercial leadership and significant operational experience in the pharmaceutical industry to this role. Was Vice President and General Manager Europe at GW Pharmaceuticals.

PAL had a very disappointing 2020 which led to the previous CEO leaving.  Hopefully 2021 will be better year as their production ramps up and as the exiting of lower margin contracts in CY20.

Two directors participated in the recent entitlement offer.  Moore's purchase was considerable at over $329k.

31 Mar 21: Moore +658,644 for $329,322 @ $0.50

31 Mar 21: Black +23,772 for $13,114 @ $0.50 [50,000]

25 Mar 21: 53.8% uptake from retail 2 for 9 entitlement offer at $0.50.  5.36m shares not taken up under the retail entitlement offer will be allocated to sub-underwriters.  Generally, the daily volume if less than 100K so this short fall will take some time work through if the sub-underwriters want to sell these shares on market.