price slide, page-143

Thanks GrahamCC,

Agree PPX can decide whether to pay distibutions to PXU's.

$20 million or so to PXU represents ~ 0.4% in a business turning over $5 billion p.a.

The question for me becomes why have they stopped?

Stopping payments tells everyone we're not paying our dues, things are tough, we're in trouble etc

This negative message itself can actually start a downward spiral eg customers negotiating bigger discounts,taking longer to pay bills, suppliers decreasing discounts, requiring shorter payment terms etc.

Surely the negative message that ceasing payments to PXU has in both short and long term on the market, employees, investors, customers, suppliers, PPX and PXU holders etc has a greater impact than 0.4%!

I think the board has it totally wrong and should start paying PXU's distributions and comit to do so in an ogoing basis.

This action should be coupled with any positive news they can muster and keep on pumping out any positive.

PPX holders would then get their wish for PXU's to be positive about PPX too.

I notice that the PXU and PPX charts have basically mirrored each other over the past 12 months. Would expect PXUs to rally on a firm distribution commitment and with the positive action and messages would hope this may reflect in a PPX rally too.

From the 2011 PPX report noticed PPX had a Positive operating cash flow of $55 million, up from $23 million ...so the $ are there to pay PXUs.

For PPX holders that maintain PPX will improve (which is most of the posters from what I can gather)then paying PXU's distribution makes sense to me as $20 mill p.a. will have little impact on the long term viability of PPX - whereas there will be both short and long term benefits to both PPX and PXU holders. NOTE: Compare $20 mill to the stronger Australian dollar impact which had a $445 million negative translation impact on 2011 results.

CALL FOR ACTION

For the reasons above, believe it is in PPX holders best interests to be lobbying, harassing, badgering the board to immediately reintroduce PXU distributions.

Hope others feel the same.