CEO says in his audio that Beppa is only backed by ALinta and AET assets yet Beppa get paid out $250M.
Meanwhile BBI Security holders who arguably are backed by the remainng assets get $104M.
The institutions and the bank of Norway that own BBI securities should put the Beppa Perference Share rights arguements aside and lever for better deal for BBI Security holders, at least 208M - 8c/share.
Seahawk
PS Shouldn't the CEO have disclosed more about the likely impact of dilution from BEPPA and Sparc, starting from about 18 months backinstead of giving all those assurances about BBI's ability to repay its debts.
BBI Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held