I think that delaying income to the hybrids for say another 24++...

I think that delaying income to the hybrids for say another 24++ months is a bit harsh on the holders who bought them as an income investment .

I didn't , and I am surmising more than 50 % of current holders didn't either as the register has turned over mant times since issued .

Personally I bought them around this price as they are at such a heavy discount to $100 and are such a negative factor on the PPX balance sheet .

Any one who wants to take out PPX will likely have to pay a premium first for the hybrids before they can look at buying the business and company , as was seen by a previous mooted offer , somewhere in the range of 300 for 1


The market has for the last 12 months had a price of between 90 for 1 and 150 for 1 , and I think every one would win from the current price of the hybrids at say $11 and the shares at say 10c if a deal was done at 130 -150 for 1.

I think the share price would go to 15c immediately , and this would equate to over $17 on the hybrids a nice rise , if it was to occur , a win win

I cannot see if the hybrids are just left to wait and wait how they will hold if PPX wait and are left to to turn it around with a troubled balance sheet restricting them from so many options to re capitalize with a CR and rid debt .