scenarios, page-23

Jonkey. Now I am starting to panic. Are you saying that SPARCS bought at 14c kiwi, are, with the exchange rate now worth roughly 0.787 aud at face value. And therefore 50% of one SPARC could be converted to roughly 13 BBI stapled securities plus the remaining 50% earns 8.85% pa.

That is an extraordinary windfall for SPARC holders considering if the VWAP works out at say 3c. (you could make roughly 200% on 50% of your SPARC holding overnight, selling the next day whilst the remaining 50% is intact and earns 8.85% and up to 10% interest).

Jonkey, if this scenario is possible and SPARC holders elect to convert 50% of their holdings then BBI holders will be certainly going down the s bend as meerkat suggests.

Would that also mean that SPARCS now offer extraordinary value, thats if they are still traded on the NZ exchange for a price of about 14c kiwi. If its correct, how do I buy some.