pigs, page-52

firsova,

I bought PXU to be a PXU (SPS) holder, not a PPX (equity)holder. I'm sure other PXU holders would feel the same as we chose PXU over PPX at the time of purchase. I personally don't think PPX travelling all that well - so I don't want PPX equity.

So if a swap was on, then (as per the prospectus) I would expect (and want) full face value of $100. With PPX ~ $0.08 this means ~1200 PPX per PXU.

This basically wipes out existing PPX holders....something I was trying to avoid via the cash buyout proposal.

Further, I think PPX stopping PXU distributions means PPX should not be expecting any favours from PXU holders.