first, understand the facts, page-8

Good response, Graham.

Clearly, Price is going to need to give up control to PXUPA holders if he wants to do a deal.

The only thing I can think of that might sweeten the deal for PPX holders and entice PXUPA to take more of a haircut would be if Price can bring in a cornerstone investor to underwrite the rights issue that hopefully would accompany the share swap.