At the BBI AGM one of the questions raised regarded why BBI persists with BNB as the manager. The answer : terminating the agreement would trigger certain events which could be detrimental to current share holders. I think it was about having to payout / convert preference shares which would dilute current share holdings.
If BNB goes to the receivers, my understanding that the management agreement becomes void
If BBP in this position as well - terminating the agreement or BNB failing will actually make the situation worse?
BBP Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
