Here I was asking the company about what they means by "no value for shareholders" and this is the reply. Notice this phrase "we were in a negative Net asset position implied that there
was no value for equity holders at 31 December 2008"
Here the full text of their answer.
"Based on current discussions with our banking syndicate and in light of
current market valuations for equity the Board believe there will be no
value for shareholders. When we are in a position to make an
announcement regarding the outcome of those discussions the shares may
come out of suspension and trade on the market. The announcement on 7
January that we were in a negative Net asset position implied that there
was no value for equity holders at 31 December 2008."
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BNB
babcock & brown limited
here reply to enquiries to bnb
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