Ousia,Your posts are very informative and you tell it how it...

Ousia,

Your posts are very informative and you tell it how it is.

The following os an excerpt from 'The Age' (Ari Sharp)

<Ari Sharp
March 7, 2009
THE board of Progen Pharmaceuticals has launched a last-minute campaign to get its merger with Avexa over the line next week, offering stockbrokers financial incentives for clients who lodge proxies in favour of the deal. But a court ruling scheduled for Monday may deliver a significant blow to the merger plan.
In a campaign BusinessDay understands is being co-ordinated by PricewaterhouseCoopers on behalf of Progen, stockbrokers will pocket a "broker handling fee" equalling 0.75 per cent of the value of the shares of clients who lodge proxies in favour of the deal. The payments can range in size from $40 to $500.>>

Full text link: http://business.theage.com.au/business/progen-sugars-avexa-merger-20090306-8rib.html

I find it difficult to accept that buying affirmative votes is within the law. That's a lot different from simply encouraging holders to vote.
"Broker handling fee"....what a load of cr@p!!

With the three directors holding very few shares between them, your take on their motive is the only one that seems to fit.