If the recap plan is passed (meaning BBI and BEPPA holders approve) , you will get 4c for every BBI share you have and that would be the end of the story for you since you elect not to be part of the SPP. In the meantime, if you fear that recap plan is not passing, you can sell your BBIs in the market. If you decide to hold and resolution is not passed, next step according to Jeff could be either Voluntary Administration (in which case you would need to wait sometime to realise your losses, meaning bbi could worth something between nothing and 66c - declared NTA) or you could pray for another proposal to be put on the table with a more attractive return.
Whatever decision you make, next time you buy a share try to do some due diligence on what you're buying and try to understand the risks associated with your investment. Spend sometime reading the PDS if available and so some minimum research before committing your hard earned money.
ASX is not a casino...
BBI Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
