Dargie this is correct pre dilution of EPS and SPARCS.
For this scenario to work, BBI holders would have to vote yes for CSI, and then the BBI board perform the dilutions of EPS and SPARCS.
Once dilution occurs, the majority of new BBI ords holders may have a different view however, the CSI may be accumulating BEPPA right now for voting leverage on conversion, or doing off line deals with the large BEPPA holders - you know, give us your converted BEPPA BBI voting rights and we will give you preference in the restructured Prime.
I bet the SPARCS holders are now wishing they had accepted the new terms for 12 months, back in May !
BBI Price at posting:
6.1¢ Sentiment: Sell Disclosure: Held
