jonkey,I spoke with BBI rep late this afternoon. The person...

jonkey,
I spoke with BBI rep late this afternoon. The person directed me to the announcement and asked that I read the announcemnt carefully and note the wording.

"The BBINNZ directors’ current intention in respect of any Conversion Requests that may be received by 26 March 2009 that relate to the 17 May 2009 conversion, is that those BBI NZ SPARCS will be exchanged for BBI Stapled Securities."

Note the fourth and fifth words...."current intention".

I think they are going to wait and see how many SPARCS want to convert to BBI.