Not fair but reasonable is the conclusion of the Independant...

Not fair but reasonable is the conclusion of the Independant experts report. Not fair because the valuation  per issued share after the proposed subscription is considered less than valuation per issued share before proposed subscription, and reasonable because the advantages out number the disadvantages.

interesting to see that additional funds coming their way through the subscription are all directed to PBT4 and none to PBT2, although they do state that they are looking at alternative indications for PBT2 which I am sure refers to the bacterial anti resistance studies performed by Uni of QLD.

excerpt from announcement.

The Company continues progressing its product candidate for Parkinsonian movement disorders, PBT‐434, commencing its first in‐human study in healthy volunteers. The Company intends expanding research and development and pre‐clinical activities and commencing clinical trials for product candidates, including PBT‐434, prospectively PBT2 for alternative indications and development of other compounds.