progen to merge with avexa, page-21

Speculative BUY for Progen at current price. Then
either vote for to all resolutions at EGM on 9th Jan 2009 which will result in removing current Directors out of board and electing new Directors, including Mr. Bob Moses, the former VP of CSL.

Mr. Moses suggested his board will give PGL shareholders 3 otions, return ALL capital for their shares for $1.10 per share, retain ALL shares, or select a ratio of cash/share the shareholders wants to. These information were revealed by the latest Bioshare Weekly published yesterday (22 Dec).


If Mr. Moses does not win the EGM, then you have a second chance to vote against the merge deal and then Progen has to return ALL of its capital, $1.10 per share to its shareholders.

It seems to me you can't lose if you do buy now. Just my opinions.