Notes being paid back at 25.4c each, with 2.57c in interest,...

Notes being paid back at 25.4c each, with 2.57c in interest, shares being priced at 2.56c each.

I've posted the below 17/09/10, before the half yearlies. There I said 2c per share, they are doing it at 2.57c/ share but only giving you 36cents in the dollar as they should be 65c worth of shares. This is considerably worse than my DIRE prediction - BECG has an intrinsic value around 5 - 10cents IMO, but will probably trade higher,,, for now IMO I'd be voting NO, BOS has too much to lose and wouldn't let this deal fall over for 13.7m due to BECG holders.

(have a position with 1 BEC share that remains)

http://www.hotcopper.com.au/post_single.asp?fid=1&tid=1249784&msgid=7024060

"It is important to look at the underlying NTA value that will be left afterwards. It will be less than 5cents / share, more than likely closer to 3.5cents / share. Discount that further as REIT's have been trading at discounts to their NTA's and you're looking at a SP are around 2cents in my honest opinion.

If you're holding out for 10cents good luck I don't think it will happen for, IMO this is as good as it gets.

WHY?

Becton has negative NTA of ~14.7c per share, with the powers of compound penalty / default interest this isn't getting any better any time soon.

Becton is CAPITALISING interest charges, I wonder how much of the 161.1m in Inventories is related to high default and penalty interest, what could they really get for that, 130m?

Borderline insolvent IMHO"