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
PGL Price at posting:
66.4¢ Sentiment: None Disclosure: Not Held
