Equityma, not quite !! 1. SRS cant pay a divvy on ordinary until...

Equityma,

not quite !!

1. SRS cant pay a divvy on ordinary until such time as 2 consequative distributions are paid to pxupa holders .......
2. at current int rates, SRS would need to increase profitability by circa 3+ times to enable this to occur.

however, as JamW has stated, distributions are at thediscretion of management .......

hence, it is both a value trap (if major PXUPA holders reject the offer), or a potential value play (if they accept).

interesting times ........

rgds
Value_Hunter