What happens to BEPPA if BNB goes into administration?
NOTHING. It’s business as usual. Don’t get sucked into the downrampers talking about things they know very little about. The company that manages BBI is called Babcock and Brown Investor Services Ltd (BBIS). It is a stand alone company on its own, not listed. If BNB goes broke, so long as BBI keep paying the management fees under contract to BBIS, then there is no Change of Ownership trigger. NO TRIGGER. This is straight form the Chairman yesterday. I believe him. He is not a fool and has a lot to lose if he tells porky pies. If you don't believe, don't buy.
It is also not in BNB’s interest for BEPPA to be converted to BBI. Remember, BNB still own a lot of BBI shares.
This scare tactic is flushing out sellers. That’s great. I was able to just pick up another 300,000 BBI at 7.8c. I am forever grateful to those sellers. Thank you very much.
What will the catalyst be for BBI to get back over 30c?
Simple answer. Asset sales at book value or higher.
Patience everybody. I’m off to Europe on Dec 20 for a White Christmas. I will give an update just prior to leaving.
BBI Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held
