"A Merrill Lynch analyst, Matthew Spence, calculated the full conversion of BBI's BEPPA and SPARCS hybrids - a likely condition of any recapitalisation plan - would leave current shareholders with just 18 per cent of the company.
And that is before the cornerstone investor injects additional equity in return for what is likely to be a majority stake in the company. After that, existing holders would own less than 9 per cent of the company, which would then have more than 29 billion shares on issue."
This calculation supposes that BEPPA + SPARCS convert at full face value to BBI ORDS, then the CSI is issued shares enough to give a controlling stake... i hope it plays out like this because this is great for BEPPA holders at current prices...
Dis: hold BEPPA
- Forums
- ASX - By Stock
- is this a big joke?
"A Merrill Lynch analyst, Matthew Spence, calculated the full...
-
- There are more pages in this discussion • 50 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BBI (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online