re: vote yes to all resolutions at egm on 9jan
>>it is very surprise that the PSG does not have any other means to pass their messages to Progen's shareholders effectively !<<
They have smelLEE, who is on both side of the fence and will take the cake whatever the outcome. You know the director who at the recent AGM would not tell shareholders if he would accept the invitation to join the Coup board !! His ego needs another opportunity to stuff up something after having wrecked the body part company. With his inside position, on not only the board but now also as company secretary, one can assume that those sitting on the large voting numbers are being kept well informed.
In any case their will be no real race to the voting post if the institutional voting pattern supported by Medigen at the AGM is anything to go by.
Shareholders, who pumped up Progen’s cash holding to ~$70mil by paying $5.74 per share in 2007, will be the real losers. An incompetent Chairman, assisted by a board member planted on the board by institutional holders, has seen this company destroy shareholder wealth.
Voting FOR either of the proposals is unattractive to most retail holders and there is a good possibility that a large number will not vote at all or will ABSTAIN when voting.
The winner is ………………….. Ho Ho Ho smelLEE !
PGL Price at posting:
63.3¢ Sentiment: None Disclosure: Held
