Thanks for that, austted. The part that the article may have...

Thanks for that, austted. The part that the article may have wrong is about the PXUPA's: they were bought up yesterday due to the possibility of the limited/partial buyback that was mentioned in yesterday's ANN. Who knows when that will happen, though- the details were a bit nebulous.

I feel for PPX retail holders. PPX was told by Orbis not to take a low-ball offer, and with that, corporate buyers for the company have disappeared. Trading through is fine, but with the PPX share price now @ 5.8c, 9c wa a much better look. My reading of it is that Orbis were unable to average down as they hold close to 20%, so they would have been net losers. Fair enough, but for new entrants, 9c would have kept them in the green. This current share price collapse- as opposed to previous share price collapses for PPX- may be used as some kind of catalyst to get Mr Price in. This could cause what I consider to be an artificial price rise, causing some share price relief, but the business is still not faring terribly well.

If one looks at the case of BBG, the major shareholder was brutalised for not accepting an offer for the company (although it was considered low ball at the time), and BBG has now plummeted, with the major holder saying he would welcome back a suitor. How different can this be from PPX? At the moment, they are surviving on asset sales and not new capital, but everyone would breathe more easily, imo, if PPX raised new capital- such as PPX is doing, got some breathing space from lending obligations, and started fresh.