bbi eps (beppa), page-5

My take on this announcement is that they are looking (and I suspect have an opportunity) to avoid dilution (ie redemption by way of shares).

Under these circumstances, resale or redemption looks to be the BBI management preferred path... resale pricing would be an interesting piece of maths....

Notably, BBI felt the need to issue an announcement re BEPPA at the same time...I'm not convinced they had to suggesting it is a point of interest for management...