Ann: BPH: PEP 11 Update, page-52

Assailed,

Two outcomes.

1. Approved, buy 5c, bph 15c.

2. Declined, suspended, most likely followed by litigation.

Three causative factors exist for potential litigation, depending upon facts if declined.

Potential damages could be in the vicinity of 500m to 750m

Owning buy and bph your covered on time, but bphob are getting to 2 months till expiry, they might be cooked.

They could be re issued, there is precedence with asr.

Buyo is the safer leverage bet, as 14 months till expiry.

Much depends on when a decision is made, esp if declined and litigation, as 6 months minimum for a directions hearing, and if trial 2 years atleast.

I hold bphob, but have added alot of buyo, purely to de risk my position, if a decision is after sep and bad.

I'd loose on bphob and be covered on buyo. Proviso approval.