Ann: Merger update, determination of VWAP & share, page-2

re: Ann: Merger update, determination of VWAP... So, the revised merger deal has, in effect, led to Biota raising U$27m less to retain 9% (26%-17%) more ownership in the new company.

In order for existing shareholders to benefit from the revised merger deal, the new Biota company market cap has to go up to or above U$300m ($27m/9%) without any further dillution. Otherwise, the management just sold out existing shareholders in the revised deal in order to please the Nabi shareholders so that they Free shares can be successufully collected after the merger. Anyone does not agree on the above? PC or DL? Shame on you!


Just my views.