beppa restructure??, page-85

andrewsportfolio says:
"Holders will have the right to vote at a general meeting of the Company in the following circumstances:"

So

1) What number of votes does each BEPPA share get, and is that enough to affect any decision?

2) On what issues do they get to vote?

3) Would a "restructure" using the loophole Melua has referred to even be an issue that requires a "general meeting of the Company"?

11.3 by itself does not seem to me to offer much of any protection to BEPPA.

If management can arbitrarily restructure BEPPA without any approval of the BEPPA holders, then the security is a fraud. Why would any person agree to buy such a piece of jello that could be morphed by management at any time and for any reason into anything they needed it to be?

It's hard enough to play this game when there is a large downside risk and you have to calculate the odds for each of the large positive outcomes. I think the game just gets impossible when the upside itself can be shape shifted to any number at management's pleasure.