is pxupa a buy?, page-99

Totally agree Blues. It would make perfect sense and would explain the bounce. I thought long and hard about buying for last two weeks, but didn't have the guts due to uncertainty about prefs ! Regretting it now.

My theory, for what little it's worth, is that the shares were due a bounce anyway. The announcement sounds to me like another cost reduction/exceptional charge, and they put shares into TH when the shares started to take off.