Ann: Appointment of Administrators, page-44

I too have 20/20 hindsight, but not driving a DeLorean I couldn't get to the future in time to make the right decision. I unloaded a large part of my long holding when the sp recovered from 6c back to 10c. The old "if only" I had waited until the sp got to 17c. my loss would not have been so huge. However, the first suspension of trading could have occurred at any earlier stage. Those of us still holding were justified in the view that PDN"s restructure would allow it to run until at least late 2019. However, PDN has been obstructed at every step in accomplishing the restructure yet the bondholders are/were agreeable. The actions of CNNC and EdF have foiled both restructure plans. It remains to see whether CNNC are bound within the legal frame of the trigger option to accept the independent valuation, or whether it is waived upon liquidation (PDN would already know this fact). If both CNNC and EdF are simply following their legal options it could work out for PDN. If either are going in for the kill, expect continued obstruction. My main concern is that the final move by EdF renders PDN in default of payment and virtually insolvent, at the same time blocking the second restructure proposal which may have guaranteed their $277M repayment; an inconsiderate move for all stakeholders.