Here's my back-of-the-envelope calculation of PXU...

Here's my back-of-the-envelope calculation of PXU value:

Assumption - PXUPA get all the spoils (if any) due to being a higher ranking security

Current Assets 1,003m
Total Liabilities -800m
Net Current Asset Value 203m
Number of PXUPA 2.850m
Value per PXUPA $71

Current price is 1/6th of above valuation. Offcourse some upside might have to be forgone to simplify the capital structure and appease ordinary shareholders. Thanks to Graham for being proactive in defending PXUPA holder's rights

PXUPA only atm