a share swap?, page-17

Nathan

"But I suspect the offer could be around $40. It certainly isnt 120sh @6c = $7.20 nobody would accept those terms. So clearly they expect a major re-rate that would boost the sp and boost the PXUPA value if you accept."

"Something like 100 shares now and a $20 note deffered until 2016."

For an offer of $40, am I correct in thinking you would expect PPX to be around 20c ie downgraded from your 27c earlier assessment presumably because of the $20 note and also not full impact recognised on the market from the "exchange"?

I would think 210 PPX per PXUPA plus a $40 note (in an acceptable form) would deliver a fairer outcome and possibly see PPX at around 12-15 cents and deliver a win to PPX holders.

Note: 210/1 represents ~ doubling the number of PPX on issue.

PXUPA Only