Searched 1 last time and found it, tiny article a few pages in from the back.
Small Investors lose out again.
It appears that Babcock & Brown Power is still living in the days of grandeur and megalomania. The deal to pay back $444 million of debt appears positive, but the deal only includes $37 million in cash, with the balance in scrip. Who would ever be silly enough to take either the value of worthless paper or, after the debacle of the past 12 months, a promissory note from the fee factory? The only winner in this is B&B. The small shareholders of West Australian-based AlintaAGL continue to be left high and dry.
By Mark Hansford, Applecross WA
Anyway, so when do people expect our next announcement, I was hoping for this morning, but nothing.
BBP Price at posting:
7.6¢ Sentiment: None Disclosure: Held
