Can we please park the current 960m / 0.1p argument, there's no need to reiterate it several times a day, day in day out. I/We have acknowledged it, I/We understand/agree with the mathematics. If anyone has additional, NEW information pertaining to PNC which shows that this is a bad investment, then I would welcome those views.
Why do you want to hide this fact? In my view this is probably the most material fact relevant to the valuation of PNC. It's irrelevant whether PNC performs badly or spectacularly, in either case a massive number of shares are going to be dumped on the market following the 0.1p per share debt for equity swap.
There's only 143m shares in issue but 3.7 times that number are going to be dumped at a price of 0.1p a share and another 287m shares are going to follow as a result of the acquisition. Why, when the numbers are so huge do you want to pretend that it's not going to happen?
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