pathetictrader. Your feelings are similar to most. I think we have all been S----d in some way or other.
In reality some sold Beppa to what must have been someone or a group that knew too much.
I don't believe we got any far shake from management and its directors.
I don't think that last years AGM was told the whole truth. I have gone back to the results presentation, the agm speech. It makes a mockery of where we find ourselves today.
As with Centro I hope ASIC gets in there and starts searching because this is unbelievable. The suspension of distributions and everything that went on even the sweeping positive statements are outrageous.
Yes its 20 20 hindsight but how can it go from a projected 10c distribution for 2009 to we are all in a heap in less than 12 months. Bankers must have been giving them warnings. Moody's downgrade normally they could have done a capital raising to protect their rating. Instead they backed themselves into a corner and risked all our investments basically losing everything.
This should be a case study for the future of how bad it can be run.
The final payout being 4c in capital after having 10c in distributions last year.
I don't hold so haven't lost money but for those that held this through this period its unbelievable.
Only a small amount of Beppa.
So in reality
BBI Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
