Ann: Target's Statement , page-20

GrahamCC

I will accept the 250 for 1 if the Hybrids are trading at less than a conversion price of 250 for 1 and then sell shares

Otherwise I will just sell the hybrids if they can creep back over $12 ''

Hopefully at least 10 % of hybrids that are making money on their Hybrids like my recent purchase do convert to shares as a good will gesture to the new board who has at least kept their word and made an effort to resolve the joint lossses and give up 50% of the equity to try do a deal , this compares to the previous board who delivered the mess then ignored the Hybrids ....which in the end thanks to you , allan gray and Mr price had some impact on their demise as a PPX board .