beppa restructure??, page-27

If the company had the money to buy back the BEPPA at a discount, THEN THEY WOULDN'T BE TRADING AT A DISCOUNT IN THE FIRST PLACE. Sometimes I really wonder.



The BEPPA can be restructured at any time they like, although there will be no cash consideration in the current state of play with debts and SPARCS redemptions etc ranking ahead of them. It does make sense to see where they are after DBCT sale happens (if it happens) before trying to tackle this issue.

I must say this again though. The accrued interest on the BEPPA, plus the ongoing interest still be be paid (and likely to further accrue) is hammering nails into the coffin lid for BBI. Talking about extending the terms of the BEPPA through to 2015 actually makes it worse. It would cripple the company. BEPPA and BBI price would continue to languish, and the threat of dilution would remain. Nothing would be solved.

If the company is to survive, then recover and eventually prosper, the BEPPA and BBI holders need to walk hand in hand, together.