Just some advice from a mug punter with a SFS scheme I bought $20000 worth of BBI shares at $1.66 for my Super fund back in August 2007. The never pointed north. I have been advised by me Financial adviser (I wish she said this two years ago).
"BBI is recapitalising the stock, offering shareholders an entitlement to purchase a minimum amount of $2,500 of additional shares at a presently unknown price.
The Share Purchase Plan is conditional on the proposal being passed at the shareholder meeting on November 16. If the proposal is voted down, there is a risk that BBI will go into administration and BBI shareholders get nothing".
She is recommending I sell. After brokerage I am left with $300. I would appreciate your advice. Should I roll the dice for the sake of $300 and see what happens after 16 Nov, or cash in and walk away.
BBI Price at posting:
3.6¢ Sentiment: None Disclosure: Held
