"At least it gets conversion at $100 per SPS ie ~ 1500 PPX per SPS which would probably be followed by a consolidation"
Come on Blues, you stated it yourself, that this would completely wipe out the equity of existing PPX. So tell me now, what would the SP do when they announce this outcome?
Multiply those 1500 x .01c which is where the SP will be before the conversion is complete and computershare can transfer the stock to your chess sponsorship.
The only reason the SP of PPX is as high as it is is that holders are hoping for a white knight or some other Saviour. With the bonds sitting ahead of ordinary holders the real value of PPX is anyones guess, then discounted for the uncertainty divided by the square root of the longevity risk of the business continuing as a going concern.....thats right, only as much as anyone is prepared to pay for it at any given time.
Kiril.
SRS Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held
