option agreement with tibotec extended, page-9

Unfortunately AVX has no choice but agree to the terms of Tibotec. I remember when BTA sued GSK and in return GSK didn't market relenza, shares dropped to 40cents. Sad to say, AVX is not in a position to dictate anything. The directors have to look after the company rather than shareholders. The capital raising was aimed at showing the bigger Pharma that AVX can still survive another 12months. You can put a good spin on this latest announcement but in the end this is not a good announcement and it shows Tibotec is abusing the current cash situation with AVX.