sharecall, what about this? PPX raises capital to buy back...

sharecall, what about this? PPX raises capital to buy back PXUPA, then it has even less debt. Raising capital to pay off debt is a good use of the equity market, imo. Shareholders are cash cows for any company, and it saves them going into debt. Ok, so a buyback is compensation for PXUPA holders, given that the distributions have been cancelled "for the foreseeable future". With PXUPA's out of the way, PPX can reinstitute dividends, because PXUPA ceases to exist. I do imagine, though, that PPX would do a share consolidation if the above occurred, because it seems more "normal" to pay dividends on an 85c share than it does an 8.5c share.

If PPX raises enough money, it can buy back PXUPA, and then rationalise assets, pay for whatever costs it has, and still have some left in the kitty. Effectively, people might be paying for their own dividends!

All speculation, of course, but it could get this company back on track, be a tidier unit, and move forward a bit less awkwardly. It hasn't raised cash from the equity market in quite some time.