Just guessing OZ but I would assume that if the shortfall is not too large then GBA have a plan to underwrite . Best endeavours would mean that they would take the shortfall but it is further underwritten by MMR who could stump up more cash if the shortfall was too big for GBA to handle . IE GBA will make their best effort to fulfill any shortfall . My thoughts are that GBA is the preferred vehicle as MMR are going to have to reduce their exposure to Advent and the PEP11 project not increase it . Which leads me to think that GBA may be the preferred holding company over BPH by . This is because ( and I am guessing ) GBA may have an investor ready to help via a placement if needed , Therefore that investor would rather be in GBA than BPH ?????
Someone with more knowledge and experience may have other ideas . I still think GBA are the best buy . The market and the preliminary has valued GBAs stake in Advent at 500k HAHAHA
GBA Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
