I sold two thirds of my BEPPA holding at 16c on the 24/25 September, and the key phrase that pushed me over the edge was the one others have mentioned, the "may attribute a value to those securities that is less than face value or recent trading prices".
I took this to mean that BEPPA might be worth less under the recapitalisation than their recent trading prices, though if I think about it now it had to be the "face value" that applied to the BEPPA, otherwise that would be redundant. Still not at all clearly worded.
The other third of my holding will be going soon, and I'll make a small profit overall (having bought at 30c, 25c, 15c, 11c, 8c and 5c on the way down).
BBI Price at posting:
3.6¢ Sentiment: None Disclosure: Held
