Avid Bioservices Inc (CDMO)

[Protector]

tradero, no it would not be sufficient.

Brokers behave in a consistent way and if the deviate from the behaviour they need instructions and even if it is a simple phone call they would add it to the file, possibly confirm by letter, to avoid all responsibility.

AND the shares will surface BY VOLUME. If the entity theory is TRUE then some broker would suddenly come up with 100Mil PPHM shares (or a few brokers with 30/35Milj each).

With this move PPHM actually implicitly says, either disclose and vote NO or accept that your 100Mil shares will soon not be 50% but only 20% of the outstanding stock.

And surfacing would in this case be traceable and then in all cases of 5%+ comes the issue of listing obligations.

I think PPHM did a masterly move here because in case there is an entity they it will not be happy, just as BCS predicted that there would be something in the proposal that would not make the family happy (if I remember well).