currently PPT $24.45/7+1.615 = $5.10 less PDL $4.97 close is a discount of 13c (tiny 2% discount to fair value) per share BUT TIMES 7 SHARES = 91c!! GAP!!
$4.97 PDL -$1.615 = $3.355*7 = $23.49 PPT equiv less $24.45 is a 96c discount.....91c-96c arbitrage depends which way you slice it....
13c discount per share is magnified due to the 7:1 consolidation into PPT.....cant be helped really....! we may see PDL get over $5 by mid Jan but the incentive just isnt there and will never reach parity due to transaction costs both wayz.
Thats the way the cookie crumbles - wont ever hit parity, otherwise peeps will simply buy PPT direct - closest gap ive seen it since the t/o commenced!!! Its been fun riding it though hasnt it?!!!
Ann: Results of Scheme Meeting, page-4
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