progen to merge with avexa, page-13

I agree Mr David
I dont think they will increase the buyback as that is the only reason AVX are interested.

Having said that, there doesnt seem to be a lot of support for the deal. It is effectivly a capital raising/placement for want of a better word for AVX. The PGL holders are just financing the raising IMO

PGL holders would rather the cash back than investing in a specy stock hence the sell down. I would have thought it would be in PGL holders interest to vote down the "merger" and hope for a wind up or larger buyback rather than selling down now.

I was a holder in AVX over the years (mostly traded it, have not touched for a while). There product seems to be very good and if they can get through these trials then i thinlk the probability of successful commercialisation increases significantly.

I think that PGL would be the better way to get in, and if it gets back to mid 60s then i might have a punt