Hi melua,JMHO but I think they are on the right track and their...

Hi melua,

JMHO but I think they are on the right track and their "Bankers" will continue to work with them.

Have another think on it. ;)

Cheers,
Brantley


Section from announcement:

The novation of these contracts will have a positive effect on BBP's cash flows going forward. This arises as a result of the elimination of expected future losses under the contracts.

Ross Rolfe, CEO of BBP, said "While a further deterioration in operating performance is very disappointing, there are a number of initiatives being implemented to strengthen the company's operational earnings and cash flows going forward.

These include the novation of the FOT onerous contracts and the recently announced disposal of AEATM,

both of which significantly improve the company's future cash flows.

In addition to the steps being taken to stabilise the company's operating position,

we remain pro-actively engaged with our lenders on the longer-term work through option."