this deal has zero chance of success, page-2

My apologies after closer inspection of the MIA a $500k break fee will NOT be payable in the event that this deal is voted down by PGL shareholders...considering the need for a Special Resolution under the Corps Act PGL's register lends itself to a balsy hedge fund taking a sizable position in PGL and determining the result of the vote.

The scheme meeting with AVX being the target will get voted through one would think.

PGL shareholders should be provided the detail of the Shire Agreement, particularly the amendement of 18 August 2008 in any case so that they can make an informed decision.