If I owned SPARCS I would convert BUT...... we must also remember that many of the institutional SPARCS holders would not have a mandate to hold "ordinaries". Their mandate is specifically to hold "prefs" and therefore they will have no choice but to rollover at 10%. I think BBI know this. I think the largest SPARCS holders are various levels of NZ Govt. It is my opinion that they would accept the new reset terms. I may be wrong.
BBI Price at posting:
3.5¢ Sentiment: LT Buy Disclosure: Held
