Lucky,I can't agree with you on the possibility of the ordinary...

Lucky,

I can't agree with you on the possibility of the ordinary holders voting the restructure down.

While some more cranky holders might make a protest vote, most of the recent entries will be in there voting for their 4 cents worth.

As usually happens, there will be howling from the floor but the Chairman will have a wade of proxies in his pocket, so it will be for nothing. 50% should be easy.

The BEPPA note holders are another matter entirely. If the restructure fails it will fall at the note holders meeting. I'm not sure that a few options of problematic value will be sufficient to swing the large blocks into place.

(Holding BEPPAs is a bit like trading digital options: not a game for the faint hearted.)

Cheers.


The writer holds BEPPAs and is still undecided about how he will vote. DYOR