results analysis - diversified, page-8

Firsova

I can guarantee you that if there was an offer of 100 PPX for each PXUPA there would be no stampede but rather howls of laughter and most likely derision as well.

For a start it would be cheaper to just sell your PXUPA on market and then buy the PPX on market.

Secondly, you confuse the current trading price with the true value of this security.

Finally, why on earth, would the higher ranking hybrids accept just 1/3 of the company given the current situation?

There may well be a straight equity deal done but rest assured that any ratio will require a lot more than 100:1 - likely multiples of that figure.

I'm sure the idea sounds good to you as a PPX holder but pretty sure not many PXUPA holders will agree with you.

PXUPA