250:1 is dead in the water, page-3

Whilst I am happy for the PPX Board to have a better understanding of the views of PXUPA holders I would have thought this sort of research should have been done as part of the consideration as to whether a bid should be made for PXUPA. As it stands PPX made an announcement on October 18 and over a month later no formal documents have been received by PXUPA holders. If the intent is to bid for PXUPA then PPX should have been in a position to deliver the full documentation a long time ago. As a result of not producing the documentation and now carrying out research of PXUPA attitudes they have created a perception that maybe they are changing their mind about the offer – both the conditions of it and perhaps whether to even proceed. Consequently they have created an underinformed market in the trade of both stocks. At this stage PPX either has to immediately produce the documentation for the consideration of PXUPA holders or announce that they are not proceeding with the offer. Anything less leaves the market underinformed.