Hi Enumerate,
looks like you are doing a good job here. For the record I hold a very small amount of BNBG's that I took as a punt.
With regard to Beppa, management has already adressed the issue regarding a change of control. There is power under the Beppa deed to issue a similar security without triggering a conversion event.
I agree that BBIPL going down will spell the end of management agreements. The main reason I see this, is that in any liduidation staff will be sacked. Therefore, without any staff their will be a material breach of the agreements IMO and the agreements can then be terminated.
Just my view
BNB
babcock & brown limited
