re: Ann: BBI EPS - Redemption on Change of Co...
Hi All .
from the Business Spectator, explaining the comapny announcement re Beppa:
"BBI EPS plans EPS redemption on change of control TOP News
BBI EPS Ltd advises that if a change of control event occurs in accordance with the EPS (exchangeable preference shares) terms as a result of the responsible entity of Babcock & Brown Infrastructure Trust (BBI) ceasing to be a member of the Babcock & Brown Group, they will redeem the EPS and issue equivalent securities as consideration for the redemption rather than have EPS redeemed for cash or convert into Babcock & Brown Infrastructure stapled securities.
Equivalent securities are securities issued by the company or the BBI Group having economically similar terms to EPS from the perspective of a holder, and where BBI receives advice from a reputable investment bank, accounting firm or other professional financial adviser that the terms of the securities are not materially adversely different from the terms of EPS from the perspective of a holder."
Cheers
BBI Price at posting:
9.5¢ Sentiment: LT Buy Disclosure: Held
