understanding pb

So here you are.
Your wealth has come about through converting a small amount of hard earned capital into an asset mound by judicious purchasing during a period of global volatility.
The problem is that you are personally cash poor. There is one asset in your stable that is saleable, a large junk of mineable coal that you stumbled onto in Nth Queensland whilst you were busy buying up Potential UCG coal blocks.
With coal at a good price and the Indian coal fired electricity glutton on the hunt for continuity of supply the deal was made. And what a deal $500M up front and a future cash flow that guarantees the integrity of the share into the future.
Distribute $50M (20 for PB) and solve your cash flow problem while rewarding the faithful and ensuring their future support.

Time passes and the process of building the company through diversification emerges. It's an expensive proposition moving a technology from science to reality.

Personally PB is cash poor again sales are hard to come by and every inch of cash flow is taken up by the transition.

An island has been purchased, a home in Brizzy paid down, some private investment in businesses with synergy that will reward you personally in the future. The cash is gone.

All you have is your cash of Linc shares and you'd rather do anything than dilute your holding which one day will confirm you as one of Australia's greatest entrepreneurs and billionaires.

But wait a minute you can rent your shares out to the small margin high turnover brigade for 3 or 4 % of its value and pull in a tidy $10M per annum.

Well that takes care of the personal cash flow problem without holding back the plan.

But wait, what if there are other parties willing to lend out their stocks and my beloved linc becomes the play thing of the fungus that infests our bourse. They like to play with the price to produce the fluctuations they need. They need the stock to cycle and they need share price to be unpredictable. The slow consistent growth that sound companies need to grow and shareholders need to prosper is poison to their palate.

If the share price can be manipulated, generally to the lower side, well that's going to affect our ability to borrow the money we need for the major stages of our transition.

We better put stop to this!! We'll start over. Where can we go?

U