jamwolfFor the note to be worthwhile it would need to be...

jamwolf

For the note to be worthwhile it would need to be listed.

PaperlinX needs to cut costs everywhere. One of the attractions of an agreed conversion is that it gets rid of the compliance costs of having PXUPA as another listed entity.

In the 2012 A/R, note that 40,915 (92%) out of 44,619 members held less than a marketable parcel based on a share price of $0.071.

That accounted for roughly 60m shares. OR 90% of the register is held by 2,600 members.

If PPX bought back 60m shares at $0.07, the cost of $4.2m would be recovered very quickly.