price slide, page-118

Come on Blues, you stated it yourself, that this would completely wipe out the equity of existing PPX. So tell me now, what would the SP do when they announce this outcome?

Kiril ... this is exactly why any offer must be heavily in favour of the hybrid holders. By rejecting any offer they make it totally and utterly impossible for anyone to make an offer for PPX. As simple as that.

PPX directors must speak with The Trust Company (and holders) if they have any interest in a takeover.

If you have not done so I suggest you read the PDS for the preference shares. Search "Realisation" and most the key stuff will be found eventually.

MJS

PS. I hold none of either, but would only touch PXUPA at the present.