SRS spicers limited
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JJ, Hybrids are essentially a debt instrument , sitting just...

  1. boomeronrations
    7,720 Posts.
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    16/04/15
    14:10
    Post #: 15099472
    JJ,
    Hybrids are essentially a debt instrument , sitting just above the ordinary shares.
    They pay a discretionary dividend, and no ords dividend until they have been paid out.
    Holders have been in a Mexican standoff for years.

    If you are very brave, and have any thoughts on investing in either ppx or pxupa, you should read the original prospectus.

    http://www.paperlinx.com.au/Resourc...DS_Step_Up_Preference_Securities-Feb-2007.pdf

    cheers
    SRS Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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