Again a hybrid is akin to shares thats why it is listed on the...

Again a hybrid is akin to shares thats why it is listed on the asx and traded like one. Why hybrid holders think they are entitled to anything different is beyond me. From reading the Prospectus you can see the issuer structured it so that PPX will not have to pay higher than the issue price - $100 per hybrid/share or $285m - the 'loan' amount should they wish to terminate it or settled it. There is nothing in it to suggest they can't pay less for it, like $7 per share/hybrid. There is also no requirment for it to be settled (it is perpetual) unless there is a trigger event.

I hope that anyone else who is thinking of buying hybrids understands the risks associated with these kinds of 'well structured investments' and read the prospectus very carefully or get someone else qualified to read it and explain to you the risk as these things are usually written by people who have a better understanding of financial and business laws than most and i would guess that most hybrid holders are retail investors who feel they have been shafted. Again I hope you get your money back..however not at my expense..