bluefurmonkey,I have looked at the PDS and if the PDS says the...

bluefurmonkey,

I have looked at the PDS and if the PDS says the redemption value cannot be more than $100 for a PXUPA it means it is capped at $100.

in addition if there is no fixed redemption date..i.e. it is perpetual. There is no need for PPX to settle or right for PXUPA holders for redemption unless there is a trigger event. Hence there is little if any hinderance for a re-cap. Any re-cap would just have to take into consideration that should the company return to profitability then they could settle with PXUPA at $100 per PXUPA or start paying a dividend..

hmmm..I might get me some PXUPAs..