re: Ann: PXU: PPX: Bidder's Statement - O... So the PPX management is concerned enough about the trading conditions to talk down its prospects in the Bidders Statement but not enough to formally inform the market (Have I missed another announcement?).
It will be interesting to see how ASIC or ASX views this in the context of continuous disclosure.
Also interesting to see how this affects the Target's Statement. Even assuming that there is currently a relationship between the price of PPX and the price of PXUPA that relationship reduces as losses mount and disappears at the point where liabilities exceed assets, given that PXUPA is a liability.
When the company goes into liquidation the PXUPA?PPX ratio increases exponentially(assuming there is any value at all in the PPX).
Is the Chairman saying that we are moving closer to that point? ie the ratio should be increasing?
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