beppa restructure??, page-105

I'm keen to see it melua, your posts provide great insight. I trust some nervous ords holders will be sleeping better tonight.

If the asset book values are true, there is much wealth to unlock.

It's all about throwing a spanner in the works of a death spiral for ords holders before it is too late.

BEPPA holders needn't worry about a death spiral because they get converted at their money's worth in ords at the prevailing market price. Ords holders hold the same amount of securities, which after BEPPA conversion will represent a much smaller slice of the pie.

Regardless of number of securities on issue, whether 1 million or 100 billion, the book value (and presumably the market value) of the company as a whole does not change and BEPPA holders' entitlement to an $800m slice of the pie in ords (as many as required) or cash does not change.

This is merely my opinion and speculation. Do not rely on it in any way.