this part of the ann. really bothers me, suggesting significant...

this part of the ann. really bothers me, suggesting significant dilution, ala CNP -

"Any debt for equity swap or similar arrangement to allow Babcock & Brown to continue operating its business and selling assets as appropriate will significantly reduce the value of any existing equity".

also, why didn't BNB announce to the mkt when it had formally presented it's proposal to the syndicate of the banks - oh that's right, to give their mates time to load up from 14c...what is the ASX going to do about it - NOTHING !!!