Ann: Update - Merger of PLA with Jubilee Platinum, page-15

re: Ann: Update - Merger of PLA with Jubilee ... Hi all,

Forgive my ignorance but I find it hard to believe that we will be bought out of bankruptcy with a price twice as high as the price PLA last traded. If we get 30% of the last share price cost, would be great news.
Can anyone who really understands all that Jibrish in the announcement explain what it means in terms of the buy-out price?

Thanks heaps,