Ann: Phosphagenics Market Update - Potential Return of Capital, page-46

In the past the company has claimed that shareholders cannot be told of any details relating to the Mylan arbitration progress due to confidentiality rules relating any arbitration occurring in Singapore. Then details of a cash back offer based on a successful arbitration result suddenly appear from a normally conservative and respectful MD.It just so happens that this month[September] the next phase of the arbitration process[the pre- evidentiary hearing phase] involves a face to face meeting of the Arbitrator and Mylan/POH representatives for submission of an agreed final list of issues.
The cash back offer uses low dollar values for settlement cash refunds when compared to the actual damages claims lodged.Call me a cynic but I think this may be a possible legal signal to Mylan as to what could be considered an acceptable settlement.
The cash back offer has little merit at this time in my view in itself as it does have conditions attached including the state of the company finances etc at the time.
Kens