re: Ann: Market Update in relation to Paperli... Last 6 month...

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    re: Ann: Market Update in relation to Paperli... Last 6 month VWAP on PPX /Last 6 month VWAP on PXUPA x 1.20 as an incentive premium over the market values of each for PXUPA holders to accept , is a ratio of 167 shares for each Hybrid .
 
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