today's meeting, page-58

twin turbo
The reasons BEPPA is better than BBI are as follows:
- with BBI "maths", you have to assume a price scenario. If BBI survives, BEPPA will be worth $1.08 in July 2012. The return on BEPPA will be better than BBI in terms of multiple price appreciation
- with BEPPA you have attractive couponm return (say 6.5 cents per annum, and if they freeze them, you get them all with late interest payable, in July 2012
- in a wind up, BEPPA ranks ahead of BBI
- if BBI is taken over or control changes, BEPPA has to be redeemed for cash (I think, may need to check this one);

Cannot see how you think BBI is a better buy than BEPPA.