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Interesting comment under Tony Dawe’s farewell post on LinkedIn:
www.linkedin.com
While I can’t comment on the veracity of Matthew R.’s statement that Tony Dawe did “a great job at BRN with engaging with DACH* investors as company sees strong volumes on DE** exchanges”…
*DACH is an acronym encompassing the three neighbouring countries with the largest German-speaking population in Europe, derived from their international vehicle registration codes, namely Germany (D), Austria (A) and Switzerland (CH = Confoederatio Helvetica). In English, the term GSA is sometimes used (Germany, Switzerland, Austria).
** DE = Deutschland, so it refers to the Germany-based exchanges where BRN can be traded
… I wonder whether Matthew R. (Reynolds) is
a) just a fellow BRN retail shareholder,
b) someone who has a professional interest in getting the attention of BRN for future collaboration with the company he works for (so far BRN is neither listed as a client of Frankfurt am Main-based Dr. Reuter Investor Relations nor has it been promoted by Matthew Reynolds on LinkedIn in recent weeks, unlike other companies have - but why then comment under a post of an employee who is about to leave the company?),
or c) someone who’s already been in contact with BRN behind the scenes, possibly even in relation to evaluating a dual listing on the ASX and the Frankfurt Stock Exchange?
It struck me as somewhat odd that Tony Dawe didn’t address him by name in his reply, as he did with the others wishing him well - which seems to suggest a more distanced relationship, if there exists any at all.
Nevertheless, Matthew Reynold’s LinkedIn profile caught my eye, given Antonio J. Viana was quoted as having mentioned during the AGM that BrainChip were evaluating to investigate a potential redomicile not only to the US (as per the 27 February 2025 ASX Announcement, the wording of which our Chairman of the Board shockingly seemed to be unaware of) but also to other regions. And according to Viana, one of these could apparently also be Europe.
Saying that, I am not sure how exactly a potential dual listing at let’s say the Frankfurt Stock Exchange would benefit BRN, as both institutional as well as retail shareholders in Europe can already invest in BRN without a problem.
Instead, it’s the US-based investors who currently have to pay a premium for investing in ASX-only-listed stocks, and the US market “provides access to a substantially larger and highly technologically sophisticated pool of potential investors on a global scale” our company said it was hoping to target.
(Although brokers here in Germany don’t provide BRN shareholders with an invitation to the AGM or voter access codes etc free of charge, so that might change for the better?)
I noted that as of 28 April 2025, BNP Paribas Nominees Pty Ltd < Clearstream> (Clearstream is a wholly-owned subsidiary of Deutsche Börse Group) is now the second biggest entity in the TOP 50 with 125,490,690 shares, after Peter van der Made’s holdings that amounted to 156,805,823 shares.
Compare that to the Top 50 released on 28 April 2024, in which the BNP Paribas Clearstream nominee account held “only” 107,109,511 shares. More accumulation has evidently happened from end of April 2024 to end of April 2025, although we don’t know by whom exactly.
Anyway, BRN appears to have a comparatively large European institutional investor base already.
Am I overlooking something here?
www.dr-reuter.eu
This week marks the end of my four year tenure as Director, Global… | Tony Dawe, GAICD | 54 comments
This week marks the end of my four year tenure as Director, Global Investor Relations at Brainchip. My position has been made redundant and I leave with a sense of optimism for my future. I wish the Board, employees and 46,000 passionate BRN shareholders all the very best. I wanted to...
While I can’t comment on the veracity of Matthew R.’s statement that Tony Dawe did “a great job at BRN with engaging with DACH* investors as company sees strong volumes on DE** exchanges”…
*DACH is an acronym encompassing the three neighbouring countries with the largest German-speaking population in Europe, derived from their international vehicle registration codes, namely Germany (D), Austria (A) and Switzerland (CH = Confoederatio Helvetica). In English, the term GSA is sometimes used (Germany, Switzerland, Austria).
** DE = Deutschland, so it refers to the Germany-based exchanges where BRN can be traded
… I wonder whether Matthew R. (Reynolds) is
a) just a fellow BRN retail shareholder,
b) someone who has a professional interest in getting the attention of BRN for future collaboration with the company he works for (so far BRN is neither listed as a client of Frankfurt am Main-based Dr. Reuter Investor Relations nor has it been promoted by Matthew Reynolds on LinkedIn in recent weeks, unlike other companies have - but why then comment under a post of an employee who is about to leave the company?),
or c) someone who’s already been in contact with BRN behind the scenes, possibly even in relation to evaluating a dual listing on the ASX and the Frankfurt Stock Exchange?

It struck me as somewhat odd that Tony Dawe didn’t address him by name in his reply, as he did with the others wishing him well - which seems to suggest a more distanced relationship, if there exists any at all.
Nevertheless, Matthew Reynold’s LinkedIn profile caught my eye, given Antonio J. Viana was quoted as having mentioned during the AGM that BrainChip were evaluating to investigate a potential redomicile not only to the US (as per the 27 February 2025 ASX Announcement, the wording of which our Chairman of the Board shockingly seemed to be unaware of) but also to other regions. And according to Viana, one of these could apparently also be Europe.
Saying that, I am not sure how exactly a potential dual listing at let’s say the Frankfurt Stock Exchange would benefit BRN, as both institutional as well as retail shareholders in Europe can already invest in BRN without a problem.
Instead, it’s the US-based investors who currently have to pay a premium for investing in ASX-only-listed stocks, and the US market “provides access to a substantially larger and highly technologically sophisticated pool of potential investors on a global scale” our company said it was hoping to target.
(Although brokers here in Germany don’t provide BRN shareholders with an invitation to the AGM or voter access codes etc free of charge, so that might change for the better?)
I noted that as of 28 April 2025, BNP Paribas Nominees Pty Ltd < Clearstream> (Clearstream is a wholly-owned subsidiary of Deutsche Börse Group) is now the second biggest entity in the TOP 50 with 125,490,690 shares, after Peter van der Made’s holdings that amounted to 156,805,823 shares.
Compare that to the Top 50 released on 28 April 2024, in which the BNP Paribas Clearstream nominee account held “only” 107,109,511 shares. More accumulation has evidently happened from end of April 2024 to end of April 2025, although we don’t know by whom exactly.
Anyway, BRN appears to have a comparatively large European institutional investor base already.
Am I overlooking something here?
About -eng – Dr. Reuter Investor Relations

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