finch2PXUPAs stand in front of PPX ordinaries in terms of being...

finch2

PXUPAs stand in front of PPX ordinaries in terms of being paid any residual value from PPX - which I understand was the objective of the report.

As the ship is still afloat (but has been taking on water) PXUPAs must have a value > $0 and this is what the report was trying to establish and appropriately, used a range to reflect assumptions.

PXUPAs at $0 represents a worst case scenario, where the ship has effectively sunk.

I think others eg Austted have IMHO correctly pointed out that the value of PPX is being attributed to potential future earnings and not the residual value as established in the report.


I only hold PXUPAs