Ann: Avexa's Proposed Merger with Progen Term, page-13

re: Ann: Avexa's Proposed Merger with Pro... More concerning than the wasted costs of printing is the fact that this failed merger attempt occupied the AVX board for months, effectively wasting time that could have been used to secure another deal.

Right now I think the AVX board need to stop being so high and mighty and just sell ATC for a somewhat reasonable price before they are out of cash, and have to take whatever they can get.

As mentioned, some of the directors purchased significant numbers of shares at greater than 40 cents. I think they need to look at the economic reality and realise that they have lost that money and need to stop holding out for a “dream deal” that will never come.

Right now I would be overjoyed with 20cents p/s.