If PPX ANZA remains profitable and it is ringfenced from the...

If PPX ANZA remains profitable and it is ringfenced from the European disaster as the Board claim then I am convinced the PPX and PXUPA issue will sort itself out in a way that both classes of shareholders will benefit. PPX can buy PXUPAs on market rather than pay a dividend and or make a renewed share swap offer which will soak up PXUPAs. PXUPAs can hold out for the $100 but I suspect most will accept a lesser offer at an earlier time.

Anyway I took a risk and bought some PPX on this basis. I am trusting that the Board has it right in its annoncement.