I say sell everything, pay back debt and return circa $1 per BBI to all security holders. In other words, wind the company up in an orderly fashion.
BBI will only sell all in a forced wind up. And if that happens due to the vagaries of extremely rich appointed administrators and bankers' holiday home requirements, shareholder's hopes are NEVER realised.
BBI needs to sell 100% of DBCT and maybe a portion of one or two other assets until corporate debt is expunged, at this point their credit rating should be BBB, particularly if they can get rid of any asset with a high value per NTA ratio. BBI also needs to buy out the management agreement.
Now the company has a streamlined management, regulated performing assets in what we hope will be an improving environment, probably inflationary which will mean that returns will improve and debts will be less important.
That company would be worth a dollar live and counting, that I believe is a more likely upside scenario for shareholders.
BBI Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
