RE:Very interestingI can't imagine that they would set the exercise price for buying in to the PNG part below book value. What floor would that put: about $1.50 as the exercise price? I think we comfortably realize in excess of total book value of $2.30 for sum of parts for those not electing to exercise their right to buy in.
Suppose as an extreme thought experiment that only one shareholder exercises their right to buy in. What happens regarding ownership of PNG and the corresponding cash proceeds?
I didn't read anywhere about dividend intentions. I wonder if they will continue the current dividend after reorganization?