Ann: PaperlinX 2015 Interim Results Release, page-7

"Solvency" in the audit is prob the best outcome for PXUPA holders (chk the terms - aministration versus winding up in the PDS / and Target Statement ! - so its either ZERO for both sets of holders, or the PXUPA holders own 100% via a redeemable preff share) ....pretty clear this has been operating for its bankers for 2+ years.....

sad that the muppets running the show - have not
1. been honest with its shareholders
2. done little to address the capital requirements
3. backed themselves into a corner (ie restrictions on moving cash within the entities .....)


sad ....but true !

rgds
Value_Hunter