conversion event has occurred for beppa, page-19

I am new to HC and never posted previously on a forum.

Meula has gone to an effort over the past few days to provide information we will not usually get. I personally thank him for it as it already substantiated my own thoughts through research. I got burned today as well but in this market it is going to happen. It is okay as I have a LT bullish view on this stock (I could be wrong). Anyway if it all flops I can afford to lose it and it was my own decision. Take responsibility for yourselves and lay of people who provide information in good faith.

Why I posted here is below is the information I cut from the Alinta scheme booklet regarding conversion events. Make of it what you will as no advice is implied>

Holder Exchange Event means:

(a) the occurrence of a Change of Control Event; or
(b) BBIT RE or BBIL makes any form of payment in breach of the BBI Dividend Stopper; or
(c) the BBI Group ceases to hold 100% of the Ordinary Shares; or
(d) the Company (Company means BBI EPS Limited ACN 125 830 631) or BBI cease to be listed on ASX or EPS cease to be quoted on ASX;
(e) a Winding-Up Event occurs with respect to the Company; or
(f) BBI disposes of all or substantially all of its businesses.
Change of Control Event means:

(a) a takeover bid (as defined in the Corporations Act) is made to acquire all
or some of the Stapled Securities and the offer is, or becomes, unconditional and:
(1) the bidder has at any time during the offer period, a relevant
interest in more than 50% of the Stapled Securities on issue; or
(2) the directors of BBIL and BBIT RE issue a statement
recommending acceptance of the offer; or
(b) a court orders the holding of meetings to approve a scheme of arrangement
under Part 5.1 of the Corporations Act which scheme would result in a person having a relevant interest in more than 50% of the Stapled Securities that will be on issue after the scheme is implemented and either:
(1) Stapled Security Holders pass a resolution approving the scheme; or
(2) an independent expert issues a report indicating that the proposals in connection with the
scheme are in the best interests of Stapled Security Holders; or
(c) the BBIT RE is a party who is not a member of the Babcock & Brown Group.

BBI Distribution Stopper
Prior to issuing any EPS, the Company must procure that BBIT RE and BBIL enter into a deed poll in favour of all Holders under which BBIT RE and BBIL undertake to Holders that, unless the Holders agree otherwise by Special Resolution, if the Company defers the payment of all or some of a Dividend Amount or all or some of a Dividend Amount is otherwise not paid to Holders within 10 Business Days of the relevant Dividend Payment Date:
(a) BBIT RE must not pay any distributions, including of capital, on BBIT
units or redeem, reduce, cancel, buy back or acquire for any consideration
any units in BBIT (other than a distribution fully reinvested in further
BBIT units);
(b) BBIL must not pay any dividends on BBIL shares or redeem, reduce,
cancel, buy back or acquire for any consideration, or return any capital on,
any shares in BBIL (other than a dividend fully reinvested in further BBIL
shares which are stapled to BBIT units); and
(c) BBI must not otherwise pay any dividends or distributions on, or reduce,
cancel, buy-back or acquire for any consideration, or return any capital on,
any securities of BBI that rank or are expressed to rank equally with or
lower than EPS (other than pro-rata payments on EPS and other securities
of BBI that rank equally with EPS) or distribute any assets to Stapled
Security Holders otherwise than at such asset’s reasonable market value,
until such time as:
(d) all outstanding accrued dividends payable to Holders (including Deferred
Dividends) are paid in full;
(e) all issued EPS are Converted or Redeemed; or
(f) a Special Resolution of Holders has been passed approving such action.

Babcock & Brown Group means Babcock & Brown Limited and its subsidiaries