re: Ann: PXU: PPX: Bidder's Statement - O... Deadfish,Should...

re: Ann: PXU: PPX: Bidder's Statement - O... Deadfish,

Should have phrased it as wind up or change of control event eg PPX sold off/merger.

Re wind up - bankers come in to play in 2014 (if my memory is correct?) .... Recognising the situation, IMHO banks won't risk their capital - so will add in a respectable safety margin to make sure they can fully recover their outlay. When they pull the trigger will be the key to what $ (if any) PXU are paid. If banks see PXU as debt - then they may get trigger happy sooner rather than later which would be good for PXU holders.

Re change of control- would surely see PXU better off with PPX probably only getting somewhere near current mkt price ie nominal as their entitlement would be $0 if PXU receive less than $100/PXU which would surely be the case.

Currently PXU only