I like Nathan's number of securities after conversion rather than mine and I also agree that Nathan's layout does appear to be the way this is going.
A few ppl here had seen similar situations where the *ape and pillage had been extreme and were alerting that it could happen here.
If it had or does, this would go down as one of the biggest fiascos in Australian corporate history and the biggest embarrassment to ASIC which would draw too many APRA style questions of trust type investments.
A few recent factors add up, the BBP re-financing from the same banking consortium sweeping BBI and the recent surge in Beppa and the Sparcs conversion announcement all at the same time tell me that the banks may have agreed in principle to the BBI survival plan. I could be wrong though of course.
Thanks Nathan
ifandwhen
BBI Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
