alley,I have been tracking PNA and OZL for a number of years....

alley,

I have been tracking PNA and OZL for a number of years. About 6 months ago, I noticed that OZL was trading at 2 PNA shares. This ratio has kept in "lockstep" for a long period of time. (Have others noticed it and if so, how long has it been going for?)

The litigation has done nothing to alter this ratio. Either without the litigation OZL would be much higher or the market does not think it has any bearing. I must admit I come to the second conclusion. Our sp is driven by the POC and POG more than anything in the short term. In the long term it is driven by having a growth pipeline. I think that the market is regarding the litigation as an annoyance, not a material impact on OZL. Maybe, just maybe, we are worrying about nothing at all.

asf,
I know that a company's sp will move around with the vagaries of the market, but having less shares, all other things being equal, means a higher share price, or less of a drop if the market does tank. IMO, it is just a good way to manage the bal sheet.

HT1