eleven going, page-57

Hi,
Beppas are a debt instrument/preference share issued at a dollar.
Pays a cumulative interest payment of bank bill rate plus a margin[interest accumlates if payments suspended].
Converts to normal BBI shares at a 7.5% discount to market price in 2012.
Therefore if BBI survives, in 2012 you get at least a buck, plus interest, and a 7.5% discount converting to BBI from Beppas.
BBI vs Beppas, which to buy?
Depends.
Trading: BBI more depth, easier to get in and out of.
Investing: Beppas, assuming no divis from each, will outperform BBI if 2012 price for BBI's, is under approx $1.40. Whatever divis get paid prior to 2012 change the formula.
If BBI is wound up, Beppas have preference on anything left , before BBI.
Prospectus available on the BBI website if you are after the full details.
cheers