Security Purchase Plans
On 29 October 2007, Babcock & Brown Power (BBP) announced it would provide BBP Securityholders with an opportunity to 'top up' their holdings of BBP stapled securities under a Security Purchase Plan (SPP).
The SPP allowed eligible Securityholders to acquire up to A$5,000 worth of new Stapled Securities at a 2.5% discount to the market price (volume weighted average price over the 10 ASX trading days up to and including 23 November 2007) and free from brokerage and other transaaction costs.
BBP announced it would reinvest the proceeds of the SPP into new projects acquired as a result of the Alinta transaction which had been recently contracted or about to be completed. Details of the SPP are in the table below.