BOD Motive?, page-11

I believe the reason why the Board were prepared to recommend support of the Scheme (and it is important to note that they haven’t recommended sale of shares or indicated they will sell their own holding) is because they are confident the Expert opinion will show that 11.5 cents is not a fair price.

They are committed under Section 7 (b) to promote and recommend the Scheme but this is heavily qualified by the need to do so only until publication of the Expert opinion and then after that only if that opinion says this is a fair price.

I believe that at the time we get to vote in June (if Pfizer hasn’t withdrawn the proposal by then) the Board is confident that they will be recommending against adoption of the Scheme.

poorinvestor