sparcs noteholders meeting, page-7

Those people who bought SPARCS on market at (say) 30c in recent days will clean up in the short term.

ANyone who bought (say) 10,000 SPARCS on market at NZD$0.30c each (outlay NZD3000) gets to convert 50% of them (5000) into BBI shares at a VWAP of around AUD$0.10c.

Based on an exchange rate of 1.27. that NZD5000 face value = AUD3937 worth of BBI shares @ 10c = 39,370 sahres they can then sell on mkt.

Lets say they get 8c.

That equals AUD 3,150 or NZD 4,000.

So for a NZD3000 outlay, you get back NZD3,150 and still have 5000 SPARCS in your bottom draw still to convert or payout.

Not a bad deal, if my calculations are accurate...and certainly what a few people here were advocating in recent weeks.

Sweet.