RE:RE:Buying into what we already own....I am skeptical anything will be done to protect minority shareholders. If the exercise price is, say, near PNG book value $1 - 1.25, then we will need to add additional cash to maintain our share count in the private co. Otherwise in effect we are letting PNG go for book value to Cyrus + management.
I guess technically receiving book value for the company is "unlocking shareholder value" at the current SP, but no one is invested here to achieve that.
In my opinion the best case is either a discounted exercise price (below RoC), or a substantially higher exercise price that can have the effect of bringing forward some future value of PNG. Neither of these are as appetizing as continuing to keep PNG public.
In any case, we wait and see.