Another solution is for PPX to make a formal offer of 100 shares...

Another solution is for PPX to make a formal offer of 100 shares for each pxupa share .

Before it is poo haad , becasue PPX is 9c a share and PXUPA are 200 times that amount or $18.00

The nav of PPX is .27 , and without the legacy of PXUPA , the ppx shares are worth a lot more than the current proposal of 9c and arguably would rise towards 30c .

Then PPX could sell off a few of the business units it has had offers on , and become profitable

The PXUPA holders as a group would become the largest shareholder group , and the biggest winner under that scenario .

If post the offer , and with no debt it is not out of the question to see ppx left with 3.5b of revenue , and able to generate at least a 1% return on that income , ie profit of $35m , and in a position to pay dividends again .

At the 35m profit milestone , the shares could reach a value post pxupa buyout of close to $1 each , or a market cap of $400m ,then pxupa holders have all of their capital back and be in a position where they could benefit in the dividends paid to all ppx shareholders ,

Frying PPX by playing hard ball with pxupa , will only benefit the raiders with the capital behind them that will try get control of PPX under 10c and pxupa around $22 ,

If this is to occur in 2-3 years time the only people who get the 10 bagger is the raiders searching for a lost arc.

Seems ridiculous to me that a business with a long history with $4b of revenue could be picked up at 9c a share or $60 odd million .

On that basis Grahamcc , I say work together not apart as the only winners will be the raiders .

I own PPX and bought more today at 8.4