there you go ta, page-47

An asset shortfall..ok, but hasnt BNB made its money by fleecing the investors in its satellite funds with huge management fees? A la Macquarie model?

Satellite fund example, BNB took the entire earnings of BBI last year, and BBI holders found out after the event. Now BBI holders have either sold out or put up the barricades. More independent directors etc, and new rules hopefully will rule out that disgusting, wicked performance from late unlamented CEO leadbelly Green and his late tieless colleagues who used much of the space in the last BBI annual report that should have contained useful information about investments for their photo beauty parade.

Dont know why anyone pays anything for BNB the value is in BBI, etc.