AGM, page-5

Today’s AGM appeared to me to be a finely crafted piece of spin designed to not answer as few as possible of the difficult questions that shareholder would want answered. To my mind the company is at a critical point and each shareholder needs to make their own decision as to the future of their investment, it is my belief that morally the company owes its investors a far greater level of information than was forthcoming in this closely orchestrated AGM. Only 2 questions were submitted, one from someone who didn’t give his name, subsequently GK did name him, and thus would appear to know him well.
The second question came from a US investor by the name of Steve Millar and I imagine was carefully selected from the vast selection available, the first was not even a valid question but simple a request that the GK comply with the closing paragraph of the ASX announcement concerning the continuance of the PCH on 3/11/2016. In this Prana stated that “Further updates will be provided at Company’s the AGM to be held on Thursday 17th November 2016.” In my opinion this statement was defined to deflect immediate criticism with the promise that clarity would be forthcoming at the AGM, unfortunately clarity has not resulted and the opacity of our situation was only fractionally improved.
Prana has managed yet again to keep the shareholders firmly in the dark by the use of two Dorothy Dixers that would make our politicians proud.

Major statements made by Mr. Kempler (paraphrased):

The dog toxicity test that resulted in the PCH was demanded by the FDA as part of the clearance to conduct the Reach2HD trial and was conducted at the same time. The doses required for the test were high and given 3 times a day, toxicity was reach thus the FDA imposed the PCH.

Prana does not intend to pursue further dog trials to resolve the FDA concern, this is due to the length of time and costs involved, also the FDA require Prana to demonstrate that if toxicity is reached it can be reversed. Failure to do this would result of the end of the drugs usage at any perceived efficacious level.
Prana are pursuing the possibility of running trials in Europe and meetings to this end are taking place at this moment.

Most of the rest was just fluff and did very little to answer the plethora of concerns that the greater population of shareholders might have, I’m sure those that follow this company closely will be feeling very uncomfortable at the moment, I sure know I am. The company’s continued inability to offer up relevant and detailed information should be treated as a clear warning sign that “something is rotten in the state of Denmark”.
Without good clear information it is extremely difficult for investors to make good clear decisions and thus they must read between the lines, in this case it doesn’t make for pleasant reading.
PJ