Ann: Response to Media Article, page-36

Lads, the question is just how large is the payment for two periods going to be. If I understand correctly there is another remarketing date on 31 Dec 2015 (refer to note 29 of the PPX Annual Accounts), when the 180 day BBSW plus a margin of 4.65% (of 30 June 2012) is going to step-up to include a further margin - so is the overall rate thereafter going to be closer to about 9.0%? About $25.6M perhaps rather than $19.5M. Further, if the underlying BBSW goes up at all then the both $19.5M and $25.6M are going to look cheap.
Therefore one wonders why the PPX price is going up when value is being shovelled at the PXUPA. Also, give the reset mathematics (if I am correct) and the rate of change possible, then PPX holders should be frantically desperate to deal .