Not paying the deferred BEPPA divs to keep the SP down so as to buy it back cheaper is immoral and may well be illegal.
As I have said a number of times previously, BEPPA is not an issue now as 2012 is an eternity away. BEPPA is cheap finance at 90 day Bank Swap rate + a small margin.
Asset sales & Nov SPARCS should be the focus and it is amusing to read posts about the BEPPA issue as it does not exist for another 2.5 years, if at all. There was a BEPPA conversion issue not so long back about a trigger event due to BNB, and BBI management dealt with this.
Just think, some BEPPA holders may even wish to rollover in 2012 to delay the CGT issue, provided the new terms are adequate of coarse !
BBI Price at posting:
8.1¢ Sentiment: Hold Disclosure: Held
