Subscribe to this topicForums > Dragon Global Diversified Public Forum > Topic: Don't want to wait on the 17th? I got you covered.
| Jan 10th 2008, 05:35 Maelstrom Baphomet |
Don't want to wait on the 17th? I got you covered. | |
| Funds are in position on the buy side to support a greater than ipo value price of 1.01 for those who want out now, but I know final calculations will exceed that price. | ||
| log in to reply | ||
| Jan 11th 2008, 11:42 Kailen Juran |
Re: Don't want to wait on the 17th? I got you covered. | |
| I have a concern about this. If someone takes you up on that, what happens to their shares? I can foresee a possibility that someone claims the funds, then sells their lot anyway, essentually double-dipping. As I do not know what a CEO can do, I would like a little assurance. Thanks in advance. | ||
| log in to reply | ||
| Jan 11th 2008, 14:09 Maelstrom Baphomet |
Re: Don't want to wait on the 17th? I got you covered. | |
| I have an order in to buy up the shares as they are sold. If people sell at 1.01, I will purchase them. It'd not be wise, but is there for those who need their money immediately. The shares being purchased are going into the treasury funds and will not be counted towards payout. If someone buys shares, they will be paid out the recovery sum for whatever shares they own. Whoever has sold gets the cash. There's no double dipping possible where buys and sells are evenly matched. An update on the liquidation process has been posted with anticipated recovery amounts and some annotation. So, if someone sells the shares right now, the outstanding shares to be paid out will fall, the amount paid per share will increase based on the remaining cash on hand at the time of liquidation. |
||
| log in to reply | ||
| Jan 11th 2008, 14:10 Maelstrom Baphomet |
Re: Don't want to wait on the 17th? I got you covered. | |
| 1.01 is actually less than the estimated NW/share at liquidation. | ||
| log in to reply | ||
| Jan 11th 2008, 14:11 Maelstrom Baphomet |
Re: Don't want to wait on the 17th? I got you covered. | |
| The purpose of such a trade has also been defeated with the inability to withdraw, which as to provide some liquidity access for bank owners who were major shareholders. | ||
| log in to reply | ||
| Jan 11th 2008, 14:27 Kailen Juran |
Re: Don't want to wait on the 17th? I got you covered. | |
| OK, I thought that it might have been an external transaction, given that is where the reserve and as I see much of the cash. There are several buy orders ahead of yours (including mine), so there's the added cushion. There have been a few takers, but no much. I think that most of us are willing to wait for the higher yield. | ||
| log in to reply | ||
| Jan 11th 2008, 15:17 Maelstrom Baphomet |
Re: Don't want to wait on the 17th? I got you covered. | |
| Aye, but the bank owners need their money as soon as reasonably possible. | ||
| log in to reply | ||
| Jan 11th 2008, 16:07 Kailen Juran |
Re: Don't want to wait on the 17th? I got you covered. | |
| Good point. I might personally have a higher bid to accomodate this as I'm in no rush myself for funds. | ||
| log in to reply | ||
1 
Sort by: