FWIW...This is the response from my question to PNMS IR. I had asked what would prevent someone from "cycling" between the US and PDR market since the US price was so low. Below is response:
There will be, at some point, a PR by the CEO, stating a deadline for taking and transfering certs to PDRs. So, you should start thinking about requesting all certs that you plan to transfer to PDRs and get them to us soon. After the previously mentioned date, all shares that you might have must be traded on the open (American) market.
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