Ann: Market Update in relation to PaperlinX SPS , page-21

re: Ann: Market Update in relation to Paperli... finch2

What a load of sentimental tosh.

Your post demonstrates why this debate gets off track by ignoring facts.

Priority in relation to capital = Upper Hand.

PaperlinX is desperately capital constrained, yet it must satisfy its hybrid holders before it can repair its balance sheet.

Priority in relation to income = Upper Hand.

PPX holders haven’t received a dividend since June 2008. PXUPA holders last received a distribution in June 2011.

PPX holders cannot receive a dividend until PXUPA holders receive two distributions.

Glad we have different understandings of reality and what constitutes an upper hand. When playing poker, never bluff with a pair of deuces.

“Hybrids lucky to get $30” is an unsubstantiated guess by you.