Well, it values PGL as a A$0.817 per share NOT A$1.35 per share, since it propose 1 PGL share for 12.857 AVX share. Well the share price for AVX is now only merely A$0.105, therefore, A$10.5 x 12.857 = A$0.817!!!
What a diaseaster for AVX shareholders and for Progen shareholders who bought into Progen shares and expect to bring back A$1.10 per share when Progen's Board liquidate its company.
progen to merge with avexa, page-3
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