With both Coastal and now PIGS suggesting a 1972 share swap...

With both Coastal and now PIGS suggesting a 1972 share swap ratio swap to occur you would have to think the chances of any PPX offer for the Hybrids is now well off the agenda .

Very disapointing result indeed for both securities , I cannot see the PPX board doing anything but what the previous board did and that was to leave the hybrids out to dry , and attempt to turn the business around by dragging in even more expenses to preserve cash and repay the bank debt .

Really is a shame people like Coastal who bought in to the Hybrids well after the ceasing of income payments and when the price was well below the $100 mark are calling the shots as what fellow hybrid holders should accept , and will leave those running the company completelt poy diluted and without any upside or incentive

When Mr price came in to attempt to save this business from the likes of Boon and Marchant he was applauded by many many hybrid holders , he and other shareholders stumped up cash , come out of retirment , accepted a sub standard salary fo such a role , primarily all incentive based

If this really is Coastals plan I hope the hybrids fall to .50c and they do their money , as their actions are in my opinion doing that to all of the rest of us that hold both PPX and PXUPA

I cannot understand why PXUPA holders dont own PPX as well if they want truly believe in what they say and they want to own up to 92% of the PPX business

I suppose I am just naiive and am forever surprised by opportunists who argue for fair and are really just as the fairfax press put it in repsect to Coastal and their likes they are simply vultures praying on vultures .

If PXUPA go back to my average as some punt on thsi ridiculous multiple they can have mine .

I dont believe that PXUPA are worth $100 and anyone that does is in my view talking with a fork tongue .

I also didnt believe they were worth $7 as the Trustee suggested either , but after reading the PIGS report , my feeling is that to might be over valued as hybrids sit on the shelf for another 2-3 years awaiting income .