Progen Industries Ltd (PGLAF) Message Board

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Biotech / Medical : Progen Industries Ltd (PGLAF)

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To: Jorgen Jensen who started this subject	4/22/2004 9:01:31 PM
From: Henrik	of 349

The following is only relevant to shareholders who held PGLAF on 28 November 2003. Below is a link to Progen's web-site with important information in relation to the Progen May 2005 options. Australian company “options” gives the holder the right to purchase, at a fixed price (the exercise price), a share at a future pre-determined date. In this case any time before the expiry date 31 May 2005. These options are not derivatives. The exercise price is A$2.50 = approx. US$1.85. These options are currently trading on the Australian stock exchange ASX with the call code PGLO. Today’s price is: bid A$1.26 – ask A$1.30 ~ US$0.95 each. PGL is trading this morning @ A$2.90 (~US$2.14) From several conversations with my US broker I understand that there is some confusion among US brokers in relation to the term “options”. US brokers may refer to these “options” as “rights” or “warrants”. progen.com.au

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