nathan's bbi restructure., page-3

OK we can agree to disagree.

Many companies have hybrids and are successful, after sparcs, BBI will only have beppa and Network bonds. debt levels will be reduced from cap raising. shareholders will agree not to convert beppa until 2012, giving new holder and existing holder 3 years to recover wealth through paydown of debt and revaluation of assets as the GFC improves.