That BNB news out after the close of market whereby BNB ords holders are facing a very siginificant dilution of their holdings by both the banks and the noteholders is a good example of what can happen in a tight situation.
If BBI runs into the same sort of trouble, then massive dilution of ords would also be the likely outcome.
Now I personally think the BBI scenario is a lot sounder than the BNB scenario, but bear in mind there is some potential for this to happen and this is why the market has (rightly or wrongly) marked down the BBI ord price so much.
Some posters on this string are choosing to ignore these sorts of risk factor when discussing both BBI and BEPPA. I am not going doomsday on this, but it is something that in the current market simply cannot be ignored.
Be very very careful. If BBI does not have a decent sized asset sale to replenish its coffers, then the chances of something like this happening to BBI increase considerably.
BBI Price at posting:
14.5¢ Sentiment: None Disclosure: Held
