re: Ann: PXU: Change in substantial holding f... Firsova - I don't understand this fascination you have all the time with PXUPA / PPX conversion ratios.
As a PXUPA-only holder, I'm only interested in the intrinsic value of the hybrids. So while I have refused the offer of 250 PPXs today (4 cents/$10 market value but with company on wobbly ground, illiquid market and hybrid holders forever relinquishing priority), I may well be vindicated in accepting an offer of "only" 150 PPXs in 6 or 7 years time once the company is back on its feet, with PPX/PXUPA trading at 40 cents/$60 market value.
Investing is not so much what return one generates; it's more how about how much risk was taken in getting there.
And human nature being what it is, do you think those of us who refused the current offer of 250 are going to accept anything LESS - with the company on a FIRMER footing - down the track?
There'll be more twists and turns to come with this saga than you'll see at the 2014 Ms. Australia Pole Dancing championships.
Add to My Watchlist
What is My Watchlist?