1 share European share for every 3 shares of PMCL 1.6 / 3 => .53 European share
One European share is worth 0.25 Euros (or $0.34)
.53 x $0.34 = $0.18 = value of European share that you will get for each share of PMCL that you own now.
IF everything went according to plan, your PMCL share would be worth at least $0.18 just by the value of the European share dividend. That does not even include the value of the PMCL share.