"It is likely that there will be a requirement for full conversion of EPS and SPARCS in advance of, and in order to facilitate, any equity recapitalisation and that the ownership interests of BBI ordinary securityholders, and EPS holders and SPARCs holders post-conversion will be significantly diluted by the recapitalisation. The transaction mechanics, including any conversion of hybrid securities and the basis on which it would occur, have not been determined. The value outcomes of the transaction for BBI ordinary security holders, EPS holders and SPARCS holders are not certain and MAY attribute a value to those securities that is less than face value or recent trading prices. Furthermore, associated sales of assets may be at amounts lower than their current book values."
MAY is the important word here. Melua, you read this as WILL. But it was MAY. Simply, a cover your ass statement.
BBI Price at posting:
3.6¢ Sentiment: Sell Disclosure: Not Held
