buying, page-2

The result was probably little worse than I expected but understandable considering almost all of the half was BOON led .

There was a few positives in the words

1.Expect to be profitable Full year 2014
2.Chris Creighton is returning .( He was one of the few who turned a profit for the US operatons .)
3.A Price remuneration package is well below market 9 but well incentivised if the stock trades over 10c up to 50c
4.Debt down signifciantly for PCP
5.ING loan extended .

I cannot see any medium term solution for a return of distribution for the Hybrids and the comment that the poor performiming european business units need to trade out and to be operated to give the best return confirms my view any trade sales and closure of the business to repay htbrid holders is only possible with PPX surviving

The sooner the hybrids and the ordinaries can make a deal to rid this debt off the balanace sheet the better both parties will be

A fair share swap seems to me the only viable option .

I own both and would sell my PXUPA for anything over 125 shares for 1 tomorrow .