Thanks ASFFor what it's worth, $29.55 gives a w5 being 50% of...

Thanks ASF

For what it's worth, $29.55 gives a w5 being 50% of w3.

Let's not forget fundamentals:

At 31 Dec 2010, PPX had net assets of $840M, including intangible assets of $318M. Brands and distribution have some value.

Discounting net assets by 50% = $420M
Less PXUPA at $100 each = $285M
Net = $135M
Per share (604M shares) = 0.22

This is twice current trading at 0.11!!

The last time PXUPA was at these levels was July 2009, nearly two years ago when PPX was at 40 cents. PXUPA was then two years further away from remarketing, due June 2012.

I placed an order for PPX at 10.50 cents on Friday and it wasn't filled until Tuesday, so not a lot of selling below 11 cents.