corner stone investor vs strategic partner, page-33

Peristone, great post.

Can some one please explain why BBI is still trading circa 6c whilst we now have imminent conversion of SPARCS & BEPPA in the best case scenario, and admin otherwise.

Even when 25M SPARCS converted in May, SP dropped a few cents !
We are now looking at 800M+ EPS & SPARCS converting, followed by recap.
Even without the recap and just EPS conversion, I would expect the SP to be < 1c. This is not down ramping, just simple mathematics.

What am I missing here ?

Maybe the BBI announcements are to manipulate the SP's for the Cornerstone Investor to obtain a large chunk for voting purposes !

Melua, ASIC will have to do something when requested because there are lots of Mums & Dads that will be affected (Alinta transition to BBI), and these Mums & Dads are voters LOL.
Why did BBI not ask expressions of interest in all the assets, and then proceed with sales for all that would sell above book value ?


Dis: Less BEPPA today, than same time last week.