On 20 April I posted that I thought the 20-day VWAP period for...

On 20 April I posted that I thought the 20-day VWAP period for SPARCS conversion price determination stared on 27 April. That was wrong, it has already started. It started on 20 April (must be 20 trading days not calendar days as I thought).

If the VWAP ends up being today's closing price of 7.3c and the reset proposal is voted down) then I calculate there will be 299,616,578 BBI securities issued based upon 25,803,504 conversion requests.

I'm interested to know what others think about which way the SPARCS holders will vote if the VWAP increases in the lead up to the vote.

That is, if SPARCS holders see the BBI sp rising will they be inclined not to vote for the reset because they feel they will be getting a bargain on appreciating BBI shares?

If they see the BBI sp stagnating or even falling will they be inclined to vote for the reset in order to give BBI more time to sell assets, resurrect their sp and improve SPARCS holders chances of redeeming their holdings in full?

If SPARCS holders are less likely to vote against the reset when the BBI sp is stagnant or falling then I think we can expect not to hear too many positive anns between now and 17 May.

questions, questions!