BBI 0.00% $3.98 babcock & brown infrastructure group

I believe that the shareholders must act and put the company...

  1. 315 Posts.
    I believe that the shareholders must act and put the company into Voluntary Administration.

    The same disease that infected Babcock & Brown directors and management has spread to BBI.

    A period of voluntary administration of the non-operating half of the stapled security would have the following effect:

    - concentrate the minds of the banks - do they really want the operating unit in liquidation?

    - head off, at the pass, the death spiral. The prefs must not be allowed to convert and dilute ordinary holders.

    There is some chance that a period of voluntary administration would see a reorganised BBI handed back to directors.

    There is NO CHANCE that a reorganisation outside voluntary administration will result in a positive outcome for shareholders - if the EPS convert.

    Shareholders have completely nothing to lose and everything to gain.

    Special General Meeting - resolution to enter Voluntary Administration ... it is the only way to avoid the road to oblivion.
 
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