hybrid terms, page-9

Listing rule 7.1 - but perhaps there is some other capability under Listing Rules that I can't be bothered searching for (and really it is irrelevant)

Everyone hates losing $ - but a stalemate isn't going to return value to either standard shares or hybrids.

Hybrid holders can take the high and mighty road and say - dilute the f*** out of of SRS as per "our entitlements" - SRS just say, good luck putting that forward to shareholders and getting it up...

Only way would have been for a courageous and resourceful Hybrid holder to gather enough SRS shares (good money after bad?).

That's why a balance is required.

Mistakes were made in the past - but have to look forward. New Management / Re-focused Business.

IMO (and that of the current board) the current deal needs to go ahead to return any sort of value to the company. PXUPA holders would have to be leaning to acceptance as a failure will see the SP drop back to pre-announcement prices immediately.

Good luck with your trading.