price slide, page-62

Nathanblack,

Just checking a few points in your post as you state "But for now they can defer interest payments." and "...to eventually get $100 + arears".

To me these comments indicate you may think PXU distributions accrue? I understand that unlike Beppas they do not. Any dividends not paid are gone forever unless PPX decide to pay the prior 12 months (2 distributions) so they can pay a dividend to PPX holders. Perhaps this is what you were getting at?

Agree it makes sense for PPX to raise capital to buy back PXU's as would be adding value and should (I hope) be in PPX's considerations.

I too would accept a decent cash offer between $40-60 now.


GrahamCC,

I too think the website content is tops (and recognise the bias) and recommend it to all.

Agree with NB re poor choice of domain name name and I expect this has not endeared you to PPX holders.

Re cap raising - agree PPX out of favour but a lot of holders have already lost a lot and may toss some coins in as really nothing to lose (coparatively speaking eg first traded at $2.911 in 2000 with a high of $4.454 in 2002 and now 6.5c and potentially facing $0 !!)

I've seen $$ raised on a lot worse than PPX.

Would of course depend on what the offer was and how it was "sold" to holders.

Mypravda,

It doesn't matter what we do, PPX's future (and PXU's)is with the board and unfortunately they have not been able to deliver profits and the market has responded accordingly.

Based on their track record there are no glory days ahead unless something dramatically changes.