" As outlined in section 5, in view of the required repayment of the Westnet Facility, it is possible that even if Former EPS holders do not approve the AET&D sale, the AET&D Holdings 1 directors may consider that they are required to proceed with the sale if not proceeding would materially prejudice the interests of members and creditors .... etc."
HA! HA! HA! HA! Ho hum, we have heard this all before when the recap was put to BEPPA holders, Using a baseball once again you blokes, what a joke!
"...........Babcock & Brown Infrastructure has threatened legal action against dissident exchangeable preference shareholders for damages if incorrect information causes a AU$1.8 billion recapitalization to be voted down......."
"....the legal threat was issued after BusinessDay reported Bronte Capital Management's argument that the current offer for exchangeable preference shares of 43cents was well under BBI's June 30 valuation of 70cents for assets attributable to EPS shareholders...."
Seems to me to be a standard procedure for this crowd to issue threats if the vote is against their recommendation, they did this with the recap vote also.
Then again from PIH to BIP they offered a bigger carrot to make sure it jumped over the line.
I feel they have been treating us all like mushrooms in the lead up to this sale, even bordering on contempt that they actually have to pay us anything at all.
Let's see what they do when this doesn't get across the line, they wouldn't be threatening if they didn't need a YES vote.
So it's definitely a NO VOTE from me even though I held millions of BEPPA
BEPPA are owed a total of $1.00 each, paid so far $0.427
$0.573 BALANCE OWING PER BEPPA
NO, NO, NO
They want this sale to proceed so I'm throwing them back the ball, untill they find one that looks a lot better to me
PIH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
