takeover value, page-28

the BBI bond type debt, some of which is trading around 45 cents when I last look and has a 2012 maturity as well

The timeline of debt maturities in the annual report shows no corporate debt at all maturing in 2012. That's presumably deliberate, because of the timing of the preference share reset.

Dealing with the preference shares in 2012 won't be a problem because they can just be converted to equity. Now if the share price is still under 10c the dilution that would bring is obviously a problem, but is that really likely? Something's going to have happened in three and a half years, surely!