because you are personally liable to pay another $2 for each BCSA, and you can buy yourself a world of grief when BCSA are trading at 0.3c.
From the BCS website FAQ:
"What if I don’t pay the instalments?"
If you are liable for an instalment on stapled securities and do not pay the instalment, BrisConnections can take action to recover the amounts owing.
If you still fail to comply with your payment obligations, voting and distribution rights relating to those stapled securities will be suspended. BrisConnections can also sell your stapled securities and apply the sale proceeds to pay the amounts outstanding in respect of those stapled securities, which will include the unpaid instalment amount plus any applicable interest (calculated from the instalment payment date) and the costs and expenses of enforcement and sale. The balance (if any) will be paid to you.
If the sale proceeds are not sufficient to cover the amount outstanding, BrisConnections can pursue you personally for the balance. This may include the commencement of legal action against defaulting unitholders.
The payment of the instalments has been fully underwritten by Macquarie Capital Advisers and Deutsche Bank (except for the second and final instalments in relation to partly paid stapled securities issued under the Distribution Reinvestment Plan). To the extent unitholders default on payment of the instalments, Macquarie Capital Advisers and Deutsche Bank can either acquire the stapled securities which are to be sold by BrisConnections, or subscribe for such number of those stapled securities which BrisConnections cancels.
You should be aware, however, that the fact that instalments have been underwritten will not affect your liability to pay instalments, nor will it guarantee a residual amount to those who have defaulted on their payment obligations."
BCS Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
