Asian Pay Television Trust (APTT)

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Any ideas what will happen to the shares owned by MIIF if their unit-holders opted for cash instead of APTT units ?

It goes into the placement pool.

The Placement
The number of Units to be offered in the Placement will be reduced by such number of Consideration Units which will be determined after the shareholders of MIIF have completed their election.

Consideration Units
Concurrently with but separate from the Offering, up to 525,866,849 Consideration Units will be delivered to MIIF on the Listing Date in part settlement of the consideration payable to MIIF for the Trust Acquisition.