Seems pointless working out the effect of a Beppa dilution on...

Seems pointless working out the effect of a Beppa dilution on BBI ords.

1. People on here are mostly, if not all Beppa. BBI is a just a stepping stone to Beppa for others.

2. If the Beppa conversion dilution happens then an investment in BBI ords is likely to be stuffed, its just a matter of how much stuffed it is. I think we all get that. We have absolutely no hope in hell of determining the amount of dilution all the way out to 2012 anyway.

Hmm, and I notice that even with what I would call Favro's mid-recession price multiples, BBI equity is positive, and very positive. I wonder what that makes Beppa worth?

I hold Beppa only in case it isn't obvious.