bargain, or not, page-11

I don't take issue with any of those comments.

Just out of curiosity, I plugged a hypothetical post-dilution ords price of 15c into the takeover formula in the PDS.

That would require a 42c pre-dilution offer, coming to some $255M in total.

The result of the takeover dilution under that formula would then allocate that money as to $91M to the ords (15c each) and $164M to PXUPA ($57 each).

That would have to be getting close to an outcome that might work for both classes of shareholder.

Maybe if management and the investment banking community is as uncreative as you suggest, we can help them along with some numbers to mull over!

By the way, kudos to you on the sux website and the PIGS work.