The company is trying hard to avoid the issue of shares for the SPARCS. Just under 18% ($25,803,504) of the $146,204,109 has had a conversion to equity request lodged. Today noteholders received a tricky form whereby you are invited to rescind a previous conversion request!
IMHO the market cap, currently >AUD 200,000,000 should stand the dilution of AUD 20,000,000. The shareprice can jump around 10% in a day so what's the problem with 10% extra shares on issue. Call it a trial run for the main event.
BBI Price at posting:
9.1¢ Sentiment: None Disclosure: Held
