time to make hybrid holders an offer

Ever since the final days of Harry Boon there has been talk of PPX making an offer to fix the balance sheet and restore some value for hybrid holders and shareholders .

Harry Boon was quoted as saying in an update to the board PPX may look at a partial buy back , what with I dont know , but it was said nonetheless .

The hybrids continue to trade lower and lower as the shares do , in July 2011 the ratio was 200 to 1 and I cannot see this erosion changing until there is some clarity or offer on the table to try fix the balance sheet and make an offer instead of just ignoring hybrid holders , PPX benefits by clearing the debt off the liabilities column and hybrid holders get to have a say , in looking at accepting a share swap .

AT Jan 2013 the ratio was 125 for 1 , in the 12 months between we saw ranges from 90 to 1 to as high as 150 to 1 , and at June 30 close it was about 127 to 1 ( 5.5c and $7 )

My thinking is that if nothing happens and the company just continues to try trade out of trouble , the hybrid holders will see more erosion of the price it trades at , and future swap ratios lower , where as if a swap occurred at say 125 to 1 I sense the share price might rise and give the hybrid holders that accept more bang for their current buck .

AT 125 for 1 hybrid holders will have a massive shareholding and be in a position to almost choose the board , where as now they have little say over what happens at PPX level

I hope PIGS can achieve their dialogue with the board and least get an offer on the table even if PIGS think it is to low , and the majority choose not to accept , so those that do want to come together as one can have a choice and at least have a choice of selling at $7 or have 125 shares i the company for every $7

I hold both and are losing confidence in seeing any offer the longer it goes on