Ann: Market Update - Further information on valua, page-9

re: Ann: PXU: Market Update - Further informa... So in administration are they saying that after everyone is paid they estimate the hybrids will get $17 and ords will obviously get zero.If you run the numbers the hybrids 2,850,000 * $17 = $48.45 million.From the balance sheet 31/12 we have $638.9 million equity less the banks ($224.9M+$93.3M = $318.2M) less intangibles $208.2M(could be nil in admin)this equals $112.5M.Maybe they also have estimated a write down in inventories on admin?

What I am saying is from a hybrids point of view how do they get that $17 and why would they disclose it in a report.If I were a holder why are they not disclosing a figure like $112.5M /2,850,000 = $39...