Hi guysNot on holidays, just focussing on the main game of doing...

Hi guys

Not on holidays, just focussing on the main game of doing what I intended from the outset.

Just to clarify what the main game is:


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PaperlinX PXUPA Holders - Our Four Part Value Proposition

Our position is simple because it is legally enshrined in the PaperlinX SPS Trust and the Product Disclosure Statement [PDS].

Four Part Value Proposition

1. As Preferred Equity, we are entitled to the first $285 million in the capital structure of PaperlinX;

2. We are concerned first about preserving our Capital, of $285 million, and then receiving regular Distributions;

3. As we invested in an Income Security - we require our Distributions paid whenever PaperlinX has sufficient available cash, not at the whim of its directors; and

4. If there is any Change of Control Event we want our full entitlements pursuant to the PDS.

Experience to date is that the only way PXUPA Holders will receive a fair deal is to present a united front.

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Note that we are silent on PPX.

As I expect another busy week ahead, I’ll call in again next Saturday, not before.

Notice I've changed my Sentiment on PPX, just for the moment .

Good luck