Pierre, the independent report was clear: "in our opinion, the Proposed Subscription is not fair to Shareholders as awhole."
I think GK has lost trust of holders with his silence over the PBT2 development. An independent analysis of the value of PBT2 could be a good idea.
[If the Proposed Subscription is not approved, Prana would have to secure sufficient alternative funding (for example, byutilising its ATM facility within the remaining capacity, and/or by seeking partners to develop the drugs jointly) to fund itsdevelopment and commercialisation of the drugs under development. In the event that Prana is unable to secure suchfunding, the Directors will have to put the development plans for Prana’s lead compound, PBT434, on hold starting from mid2019 (around May or June 2019)43 until funding is secured. ]
OK in 2011 Prana had current assets of $8,932,206 and were planning two P2 trials in AD and HD. Now with about the same they will have to put a single phase1 on hold because it will be gone in a few months. And there is a large refund from last years trial expenditure I think, which was not available in 2011.
I no longer have a horse in this race, but FWIW think it will take quite a sales job to get ordinary holders to vote for any of this deal. Good luck to holders.
PBT Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
