price slide, page-4

Hi Firsova,
Not possible for pxu's to be treated that way after a takeover.
Takeover triggers redemption/conversion.
That is the reason the offer discussed before, required a meeting of pxus to agree to changes in the pxus terms, before it could go ahead.

Best outcome for pxus might well be just such transaction, with me wanting a much larger percentage of the pie, than the 1st one promised for pxu holders of course.[being a pxu holder].

One interesting aspect of all this , is that a complete collapse in ppx prices, may in fact work to the advantage of pxu holders, as it makes more bucks available in a limited pot that a suitor might have for a takeover.
ie ppx sitting at 2c, 120 mill available to buy business,
bid at 50% premium[3c], rest of money, to try and persuade the hybrids to come out of their burrows.

Funny old world really.

Fascinating to know how the pxu numbers would stack up on a $30 to $40 offer.

cheers