progen to merge with avexa, page-19

Webral,

Please read my previous post which I provide here again for your refernce.

If Mr. Moses get elected at EGM on 9 Jan, the new board could just go ahead with their return of cash @$1.10 for those shareholders want to exit Progen. In my opinion, this is the quickest way!

___________________________
Anyone is aware that there will be an EGM for PGL on 9 Jan 2009 as requested by PSG, Progen Sharehodler Group, led by the former Vice President of CSL, Mr. Bob Moses.

From the article of today's Bioshare Weekly, Mr. Bob and his PSG ooffer three options for PGL shareholders as the followings. Any opinion? Shall Progen shareholders support Mr. Bob?

------------------


Bioshare Weekly Edition 294, Published on 22 Dec 2008

*Editors Note:
The PSG proposes to offer Progen shareholders three
options:
A. Payout of $1.10/share cash in return for cancellation of their
shares,
B. Retention of their shares in a "re-birthed" company (NewCo)
C. A combination of payout of a portion of their shareholding
at $1.10/share and retention of the remainder as shares in the
re-birthed company.
According to the PSG, shareholders who do not elect any of
the three options or do not return their election forms will be
deemed to retain their shares per option 2.