LNK 0.00% $2.09 link administration holdings limited

Ann: Explanatory Memorandum - PEXA in-specie distribution, page-4

  1. 1,690 Posts.
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    I must be thick. 1 PXA @ $13.75 for 7.52 LNK @ $3.45. $13.75 plays $25.94 Doesn't look good to me so what am I missing?
 
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Currently unlisted public company.

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