No way there will be conversion now by the hybrids.
It also doesn't solve PPX's main problem at all - the bank.
No, it's starting to look like the hybrid holders will get their wish and pick over whatever is left of the carcass after the banks, the employees, the UK pensioners, the various Tax Offices, and last but not least the Receiver, have had their fill.
PPX shareholders actually get the better deal - at least they know they are up a certain creek right now.
SRS Price at posting:
2.0¢ Sentiment: Sell Disclosure: Not Held
PXU Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
