beppa holders will acquire two interests , page-4

Big Red Roo - you are correct - far more detail is required and at present it is still completely unsatisfactory

I suspect it is a Managed Investment Scheme - which needs to be registered under the Corporations Act - and in order to do that - they need to appoint an RE etc - I don't think BBI has thought this through - and is just making it up as they go.

The other issue is the fees that are being paid to BAM - which are way too high. They get 15 mill over 3 years as a management fee for the AET&D assets (and they get the NPV if they are sold prior to the 3 years) Is BBI still extracting its management fee ? If so why do we need to pay 2 managers

Then you have to pay 1 % EV - of all the assets - whether or not they are sold (i.e. it is payable at the end of the 3 yrs if there are still assets not sold). why is BAM the correct person to sell the asset? They are not independent - do they have the requisite skill? Normally a fund like BAM engages an investment bank - like Macquarie who will sell the assets on their behalf for a fee - does that mean BEPPA holders will pay two lots of fees?

This is an absolute disgrace.

BBI and its advisors should be ashamed of themselves.
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Do your own research - this is not investment advice. hold BEPPA