sparcs noteholders meeting, page-45

Good analysis Dargie re NZ view of sparcs and BBN020. I suggested to my broker that they take a closer look at sparcs etc and I reccommended purchase of 200,000 sparcs that came on the market to a couple of mates. Unfortunately they spoke to the wrong advisors who are being extremely conservative at present.

The brokers however did in depth analysis and came up with similar conclusions to me and their staff purchased medium sized amounts are are now well in funds with bonds more valuable than their purchase price.

Personally I think BBN020 is a steal until ex date (19th May) and maybe beyond if the bond price falls after coupon paid.