You wrote: "Also, BBI can pop up and buyback the SPARCS anytime they want by simply announcing their intention to pull up stumps early for anyone who wants to. I am sure SPARCS holders would not be shy in coming forward for their money back."
I have made assumptions in the past and it has only led to disappointments later on.
What I would like is conformation from BBI that if the opportunity arose (asset sales, corporate debt reduced etc) they would pay off SPARCS before Nov 2010 and re-instate divs (if sustainable). What is best for all BBI and BEPPA holders is some market confidence.
I do not consider it ethical that any management are able to keep SP's depressed so that securities can be bought back cheaper.
Just like SPARCS, BEPPA was rolled out to provide a quarterly income and then repay the face value after a 5 year period, and that is what BBI should be aiming for asap. Once this occurs the confidence will then return to BBI.
BBI Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
