opportunity to clean the board

Almost all the PGL shareholders are disappointed with the current PGL board. The last proposal from the board is merging with AVX, and the new combined company's board will have up to 7 directors (4 from AVX and 3 from PGL).

Creating a 7-directors board in a small cap company is sowing the seeds of later disaster. They would fighting each others. The shareholders will have to feed those with very high fees. Why having up to 7 directors while the main business of the combined company is ATC which is AVX's portfolio, not PGL's portfolio.

The proposal to merge with AVX fits perfectly into the current board's hidden agenda which is keeping their plum jobs as directors, demonstrating that the current PGL board is looking after their interests rather than the shareholder's interests.

The AGM meeting on 9 January is a good chance for PGL shareholders to clean the board : removing the underperformed PGL directors/chairman