Not very familiar with AEJ these days but did own a few shares when it was BBP in the sub 10c days.
Some here feel fairly confident that share holders are owed $450M.
This strikes me as very similar to the BEPPA securities (debt) of BBI. Before the deal went down there was a fair bit of propaganda to make BBI seem as unattractive as possible. Some would allege that the directors were complicit in this. Alot of people sold out of BEPPA in the final month only to see insiders snap them up at make a 4 bagger. Some of the complications in this deal centred on balancing the interests of BBI holders with BEPPA holders. In that sense AEJ (BBP) is a more straight forward animal.
Would I be correct in saying that if debt=assets, then full recap would leave share holders with 17% of the company, and a 50% recap would leave holders with 34% of the company?
AEJ Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
