BBI 0.00% $3.98 babcock & brown infrastructure group

no holder exchange event

  1. 42 Posts.
    Primaus72 posted this last friday

    FROM UBS....

    UBS rates BBI as Buy - There has been a BEPPA Holder Exchange Event that would allow holders to convert into BBI shares, which the broker notes could wipe out the group's equity in less than two months.
    The broker suggests this significantly increases the risk associated with the stock but as there remains much uncertainty as to exactly what will happen it is difficult to factor this in at present, so for now it retains its Buy rating.

    Now I would like to point out the following from the Alinta scheme.

    9.1 Notification of certain events
    (a) The Company must, within 5 Business Days of becoming aware of the
    occurrence of a Holder Exchange Event, a Tax Event or a BBI Winding-
    Up Event, give notice of its occurrence to all Holders by:
    (1) issuing a market release to ASX describing the event;
    (2) sending a copy of the market release to each Holder within a
    Business Day of the date of the market release; and
    (3) publishing a notice in a daily newspaper of national circulation in
    Australia which describes the particular event.

    Now I have seen no notice of this supposed Holder exchange event that UBS believes has happened. Just a further example of how much mis-information is out there regarding BBI.
 
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