The outcome for PLA shareholders depends heavily on the deal...

The outcome for PLA shareholders depends heavily on the deal done with Macquarie and their debt. But as a guess, I suspect PLA shareholders might end up getting screwed down to 1 JLP share for each 3 PLA shares. Assuming JLP @12p this would value PLA shares at 4p or 6c just below the TH price - a steal for JLP compared to past and potential value of PLA. But who knows, JLP sp may surge to much higher than 12p on news of such a great deal for them which would then benefit all shareholders in the merged entity. Medium to long term, JLP may go on to achieve the success with PLA's assets that PLA promised back in $2 sp plus days but has never delivered on. That would be a happy ending to the story.