BBI - Babcock & Brown Infrastructure

[random]

Late night last night.
Woke up little while ago.
Just saw that the announcement was made and read the forum
Did the only sensible thing that came into my head.
Made a fresh pot of tea! Oh yeah.
Tried all of them but keep coming back to Bushells all the time.
I like the that special briskness and flavour if you know what i mean.
Can think better now.

Not that worried really.
So the price drops on beppa.
Looks like we can look forward to a offer sooner rather than later on bbi conversion.
Bad news for early beppa holders .yes. for those who bought in around these prices nor so bad.
I''m in no hurry and will hold on still.
Its not great news but i wasn't expecting that it would be.
At the end of the day I'm sure we will be better off than when we entered (at around these prices).
9 min till opening.
Good luck to all of us.

 

[Mitsimonsta]

BEPPA down 30% early, coming back now... BBI GREEN???

God, this is crazy, crazy stuff. BEPPA might go green at some stage later today.

BBI management should be shot, I feel a BEPPA class action coming on. They basically paved the way for the cornerstone investor (or whoever is sniping BEPPA) at cheap prices.

 

[random]

BB,
I hope the 20,000 beppa's i just got at 10.5-11c wern't part of your portfolio.
I wouldn't enjoy it if they were.

 

[fuzzie]

When beppa dropped to 10 I thought maybe I should put in a 5c bid, but I see it's back to 14 already.

 

[Mitsimonsta]

I don't think the cornerstone investor got enough BEPPA, watch for another negative press release.

Hodling.

 

[random]

I don't think the cornerstone investor got enough BEPPA, watch for another negative press release.

Hodling.

I think there is considerably more validity in your quote than you intended mitsimonsta. Todays release was not just to keep us shareholders informed (as required) but to shake the cage and see what falls out.

 

[nomore4s]

BBI management should be shot, I feel a BEPPA class action coming on. They basically paved the way for the cornerstone investor (or whoever is sniping BEPPA) at cheap prices.

lmao, you've got to be kidding me. There is alot of fantasy scenarios getting posted in this thread.

The fact is BBI are in a mountain of debt and they are trying every avenue to sort it out and you so called investors are now upset at management because the cornerstone investor is getting cheap prices, what a joke - how upset will you be if they go bust?
If BBI don't get the problems sorted you current holders could end up with nothing, but most of you are hanging on to best case/fantasy scenarios and imo any of those are a long way in the future and may never play out. There is a reason the market has currently ignored the so called value in BBI & BEPPA.

 

[w.m.buch@bigpond]

Why is BBI still relativly steady when the management are telling us huge dilution is on the way?
Why have Beppa dropped when it looks like they will be compulsory exchanged to BBI units? At todays BBI value 1Beppa = 12 BBI plus.
Confused by the markets reaction to the announcement

 

[Mitsimonsta]

There's going to be a big, big class action over today's release and events.

There's one way to guarantee a trading halt extension: play the 'delicately poised, confidential negotiations' card.

BBI's complete stuffup was to inform the ASX that there was no real possibility of a deal being reached in the next two trading days. Hence the extension to trading halt was (rightfully) rejected by the ASX.

Bunch of Morons.

Now the Cornerstone needs enough BEPPA to nullify Lowy's votes, so somewhere above 8% and there was not nearly enough BEPPA traded today for that to happen.

QIC haven't got too brass Razoo's to run together right now, so their holdings aren't as stable as Lowy's.

lmao, you've got to be kidding me. There is alot of fantasy scenarios getting posted in this thread.

The fact is BBI are in a mountain of debt and they are trying every avenue to sort it out and you so called investors are now upset at management because the cornerstone investor is getting cheap prices, what a joke - how upset will you be if they go bust?

They have purposefully and wilfully placed a negative announcement on their own securities in order to make the stock cheaper in the market for the Cornerstone, or whoever has been buying at 13c and below. If it was normal market conditions I would have no issue with it, but I believe that they have manipulated the market to benefit the Cornerstone.

There will be more negative releases. I do not know how they go from ultra-positive at the results release 9 days ago to this today. Nothing changes that quickly.

I am fully aware of the value in BBI and BEPPA, and I am also very aware of the mountain of debt. The house of cards is shaking, make no doubt about it. I just want management to stop pushing the walls.

Why is BBI still relativly steady when the management are telling us huge dilution is on the way?

Most of us are in BEPPA for less than a 10c average, and are in profit. We believe that we can still make a profit out of a deal when reached, and see some not so proper action from management.

 

[skc]

There's going to be a big, big class action over today's release and events.

There's one way to guarantee a trading halt extension: play the 'delicately poised, confidential negotiations' card.

BBI's complete stuffup was to inform the ASX that there was no real possibility of a deal being reached in the next two trading days. Hence the extension to trading halt was (rightfully) rejected by the ASX.

Bunch of Morons.

Now the Cornerstone needs enough BEPPA to nullify Lowy's votes, so somewhere above 8% and there was not nearly enough BEPPA traded today for that to happen.

They have purposefully and wilfully placed a negative announcement on their own securities in order to make the stock cheaper in the market for the Cornerstone, or whoever has been buying at 13c and below. If it was normal market conditions I would have no issue with it, but I believe that they have manipulated the market to benefit the Cornerstone.

There will be more negative releases. I do not know how they go from ultra-positive at the results release 9 days ago to this today. Nothing changes that quickly.

BEPPA volume is around 12m. At ~12c that's not even $1.5m.

How much has the cornerstone guy saved? May be $1m? In a $1.5b deal?

Just daytraders my friend.

 

[Mitsimonsta]

It's not the saving now skc, it's the units at the other end. If BEPPA actually converts, it's going to be a conversion takeover.

Or, if converted to cash (my bet is just south of 30c, about 26c actually) all the units bought will return 100%.

Something is rotten in BBI.

 

[skc]

It's not the saving now skc, it's the units at the other end. If BEPPA actually converts, it's going to be a conversion takeover.

Or, if converted to cash (my bet is just south of 30c, about 26c actually) all the units bought will return 100%.

Something is rotten in BBI.

What is a conversion takeover?

So let's say converted to cash at 26c. The cornerstone investor paid 12c for them on all the volume today.

He's due to make $1.5m when BEPPA converts. Wow. On a $1.5B deal.

 

[Tysonboss1]

What is a conversion takeover?

So let's say converted to cash at 26c. The cornerstone investor paid 12c for them on all the volume today.

He's due to make $1.5m when BEPPA converts. Wow. On a $1.5B deal.

For a deal that involves beppa taking a cut in face value to go ahead it would have to be approved by the beppa holders, So taking a stake in beppa becomes very stratigic.

Also buying one Beppa share at 13c may result in it being converted to 5 BBI shares in the future, which gives the cornerstone a much higher % ownership on the other side of this.

 

[Largesse]

ROFL.

Mitsi think's he is the second coming of gekko...

mate, seriously give up. BBI and by association BEPPA have their balls in a vice and the cornerstone has firm grip on the handle.

Why you guys keep thinking you are going to get FV for BEPPA is so far beyond me. There is positively NO chance of this happening in the current investment environment and under the current circumstances.

 

[hardyakka]

The announcement today was strictly in accordance with the ASX Listing Rules and did not breach any regulatory requirements. The supposed cornerstone investor did not buy anything cheaply, it paid market price.

Mits-the Listing Rules are very specific about what can and cannot be disclosed, it is not just a case of play the "confidential" card. The recent penalties on the James Hardie directors has driven home the penalties directores and executives can face for not complying with the Listing Rules. Have a look at the Guidance Note to Rule 3.1, it clarifies requirements.
http://www.asx.com.au/ListingRules/guidance/gn08_continuous_disclosure.pdf

I am just going to sit back and let events unfurl, as I said earlier I consider that there is massive unrecognised value in BBI.

Cheers

 

[joe7068]

Tyson:

Can you stop spamming the site with that really stupid quip. It wasn't funny the first time, nor is it funny the 100th time you've posted it.

It's really annoying.

 

[nomore4s]

Tyson:

Can you stop spamming the site with that really stupid quip. It wasn't funny the first time, nor is it funny the 100th time you've posted it.

It's really annoying.

Joe what quip are you talking about? If you're talking about his signature at the bottom of his posts - he is allowed to have that there.

 

[joe7068]

That's a signature? Jeez Louise.

I'm sure he's allowed to post, but it doesn't make it less annoying.

 

[nomore4s]

That's a signature? Jeez Louise.

I'm sure he's allowed to post, but it doesn't make it less annoying.

lol, well you better get used to it because it will be at the bottom of every post he makes unless he changes it or gets rid of it.

Mitsimonsta I really don't know what has upset you so much. BBI is just keeping the market updated. I think they are covering their @rses a bit as well, if it goes pear shaped from here they at least tried to keep the market informed.

 

[artsmith]

so whats the take on BBI now, its @0.07c, is this a manipulation to drive he stock down for the purchase of cheap Beppa 4 conversion?
And what is the view on what is BBI really worth?

cheers,

artsmith