beppa restructure??, page-112

Melua, I also noticed the clause about waiting one year after dividend payments had stopped to trigger a restructure. Let's for a moment grant your point and suppose that BBI management has the ammunition needed to trigger a restructure.

The question was the terms for conversion: does BBI management have any ability to change the terms of conversion from a) $1 of BEPPA face value for the equivalent number of BBI shares based on last N trading days to b) any arbitrary and different proportion?

Your original comments were that the restructure would end up giving BEPPA about 20 to 35 cents on the dollar, and it is not clear on whether you mean this to be an effective value based on a $1 face value conversion, or if this is a change in the proportions used for the conversion.