i will submit a complaint. to gift beppa holders conversion at 0.1c out of the blue for most was insider trading.
IMHO Beppa should have been forced to convert as per the deed at VWAP. The correct 20days notice should have been given and a VWAP of circa 5.3c should have prevailed. Then convert Beppa into 20BBI.
On the 17th day of VWAP calculations, BBI should have announced a 4c capital return for holders(provided they approve a csi cap raising) on the record date of the 20th day of VWAP, so as to prevent Beppa holders getting the div or accrued interest. And not giving enough time for VWAP to be adversly affected.
The result would have been Beppa=20BBI shares worth a total of 0.6c, instead they were gifted 43c.
Why their generousity was known to insiders but not the general market is a farce.
We were expecting them to change the deed to screw the Beppa holders, instead they altered it in their favour.
I dont know why instos trust this mob. how misleading have they been on asset sales and now the restructure. where did the leak come from MAC maybe?
BBI Price at posting:
5.3¢ Sentiment: None Disclosure: Not Held
