lets talk about euroports conditions precedent, page-18

"melua, are you aware of what was done with the deposit from the Euroports sale?"

No I am not aware. BBI also have to pay out the put option exercise from the minority holders. The funds from the sale were to go towards this as well.
If Euroports does not settle, I do not think it will kill BBI but short term I feel it could be very ugly. They would have to rely on the bankers support or convince the Euroports put option holders to "wait a while".
I am happy to be a debt holder in BBI (by holding BEPPA) but the equity is far too risky right now. Far more risk now than when BBI were 2.5c. The Asciano announcement convinced me to sell out my smallish holding in BBI. I had thought about it last night and decided to exit this morning. I just think DBCT is further away from a sale than we think. We had Kendrew mentioning he was "hopeful" of a close by end of 1st qtr 2009/10 and now we know that they are only just receiving "first round" bids. By Sept, the next lot of SPARCS will be on the radar for conversion. What happens to the equity in BBI if there is indeed a delay with the sale of DBCT? Just too many "ifs" for me right now to be in the stock at circa 8c.