chim chimney chim chimney....., page-12

from 'nostradargie'....

This was announced this morning on the NZX.

"Repurchase by BBI Networks (New Zealand) Limited of Secured Bonds

Further to the announcement dated 25 March 2009, BBI Networks (New Zealand) Limited (BBINNZ) (NZX:BBN) has purchased on 2 April 2009 senior ranking secured bonds issued by BBINNZ on 30 November 2006 (Secured Bonds) (NZX:BBN020) totalling a face value of NZD516,000. Details are as follows:

- Class of Security – Secured Bonds.

- Number acquired: 516,000

- Acquisition Price:

416,000 @ $0.465712 (35% yield)
40,000 @ $0.453987 (36%)
30,000 @ $0.431660 (38%)
30,000 @ $0.421030 (39%)

- The purchase price was paid in cash

- Nominal Value: NZD516,000

- Percentage of the total Class of Securities acquired: 0.344%

- The reason for the acquisition of Secured Bonds: Repayment of BBI corporate debt on a pro rata basis."

They did originally announce they had $1.6M for this buyback, so I am assuming they will be back for more today. There is a range of sellers building up close to yesterday's price that I suspect they will mop up on the close.