Ann: La Mancha Equity Derivative Transaction, page-23

I worked for over a decade in the Treasury sphere of the banking industry and was part of a team that "Financially Engineered" many deals with corporate clients that included Interest/Currency swaps caps collars swaptions vanilla options forwards etc etc....you get the picture. I cannot work out exactly what this deal exactly entails. Talk about pull the wool over our eyes. And the ACC Asic or whoever else determines these things. But we have seen the price action so there is a whole lot of hedging and massaging of this position. There are at least 3 or 4 entities all with different risk profiles and outcome dependencies. Interesting that we have finally broken through the $3.80 level but can we hold above. Obviously the POG has had an impact today?????