Tapdancer, I now believe you were referring to a different post...

Tapdancer, I now believe you were referring to a different post by Firsova. My apologies.

I stand by my previous comment but would add the following:

If the Board makes an offer to PXUPA holders I trust it is to the benefit of PPX holders. If so then those PXUPA holders who see a benefit in it should take it up. As a holder of PXUPA whether I took it up or not would depend on whether it suited me. I am a patient investor and if I thought PPX will recover I could form the view to hold my PXUPAs till they recover their full value even though I am also a PPX shareholder.

The thing that would upset me would be a compulsory offer below full value. Am I right in thinking the conditions do not allow for this?