Pattisons are a National Stockbroking firm. Not sure of their size in the scheme of things compared to the big players but they often get a lot of clients into smaller stocks for a quick gain.
I think the mention of 88c might be their 'get out' price.
The big question with PGL at present is whether they can 'engineer' something better regarding a possible M&A which might offer shareholders more then the $1.10 cash holding value.
ie a bigger entity might offer a share takeover valuing at the $75M odd cash, PI-88 etc IP and other Progen assets such as the Laboratory at Darra at $1.10+ per share.
PGL Price at posting:
85.5¢ Sentiment: None Disclosure: Held
