email answer from cfo & company secreary

Below is a response I recieved yesterday to a question I sent to [email protected] and I have also included my original question bellow.

Nothing new here but at least some one in the company was working yesterday!!.


"Dear -----

These are only options that were issued to incentivise employees who have since departed. Therefore there is no effect on issued share capital as these options were never exercised.

We believe that the proposed merger with Progen will provide the company with a greater opportunity to partner with a large pharma as it provides us with far greater leverage in our discussions with prospective partners and in the meantime enables us to continue to develop the product towards its value inflection targets. The Avexa shares when converted into the merged entity, will have an opportunity for a complete re-rating given the financial risk overhang that our stock was suffering due to funding uncertainties will be removed.

regards


Alan M Boyd
CFO & Company Secretary"


Dear Sir Madam,

Today you released appendix3B which was the cancellation of 3,180,000 options to acquire ordinary shares. Can you tell me at what price these shares have been aquired, and was It on behalf of an employee?.

Also do you have any coment to add to the discussion in the market that the PGL deal considerabley under values AVX shares and makes AVX a less desirable targert for partnering, without which ATC will never get to market?.

Regards