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Santander awarded World's Best Bank in 2012 by Euromoney magazine - The magazine also named Santander Best Bank in the UK, Poland, Portugal, Mexico and Argentina. - Euromoney highlighted the Group's diversification, model of subsidiaries and cost/income efficiency, the best among international Banks. - "It is hard to think of a bank that could have faced the challenges that Santander has already overcome better than Botin and his colleagues have done. And the smart money has to be on them doing so again," Euromoney said.
PR Newswire
Probably not allowed due to restatements
they need to do it and then they need to get bought out pronto
From the pr, its sounds like they are close, but they better get it together
to what?
The overall market more than stinks right now, don't forget big context
also could be stop losses
KITD expecting news?
It's the fact that there is NO news that its dropping today, I believe people were expecting restatements today in June, but may have to wait some days here
agree, me neither, nothing surprising me with DMND anymore
don't know how much it could bust from here given the new Oaktree investment, it's pretty busted right now lol
Yes, shorts have been RIGHT with DMND..with it falling from $90...so you can't argue that they have been incorrect....but for HOW LONG, can they be right?
DMND waiting for restatements in June, definitely one to watch, high shorts
nice bounce on STD this week
Rallies only happen b/c of shorts, necessary imo
expecting restatements any time
Gotta GTC those shares of DMND in my opinion it helps
There are around 24m shares of "old common stock" of RDDYQ:
If the Arctic Glacier acquisition goes through:
Shareholders of 25000 or more can elect to take cash OR can elect to take shares of the new common stock.
Company will set aside 336,638 shares of new stock at $7.14/share for those who chose the stock option (total value = 2.4m), with more shares available once Arctic Glacier acquisition goes through.
So if we say that HALF of current shareholders choose the cash option, that is 12 million shares choosing the cash payout which is:
$3.6M ($2.4 + $1.2) divided by shares 12million = 30 cents per share (double where we are now).
In, that same scenario, the other HALF of current shareholders chooses the shares option, which would equal about 20c before the Arctic Glacier acquisition, and then another 10c afterwards (assuming its in line with the 1.2M)....with potential to increase due to no more litigation, a stronger company, etc.
Anyone else's thoughts?
Court docs here: http://www.kccllc.net/reddyice
RDDYQ
Common Stock. Under the Plan, holders of common stock of the Company will share in approximately $2.4 million in cash, with the option for holders of at least 25,000 shares of common stock to elect to receive common stock of the reorganized Company in lieu of cash. Subject to certain conditions, in the event that the Company consummates the acquisition of Arctic holders of common stock of the Company will share in an additional approximately $1.2 million in cash or, with respect to holders who elected to receive common stock of the reorganized Company, additional common shares of the reorganized Company.
STD, one to watch, Spanish, but large exposure outside Spain (Brasil, Mexico, etc). High divi
Somebody getting news before it comes out? .23 on bid
The danger with these low float stocks, if company comes quiet and no news, if no volume, it can get down pretty low as we see now at .36... could take one announcement and up 100% in one day though from these levels.
or DMND (and Oaktree) posturing for a sale
it's conditional, but it's good news imo.
DMND
The investment of new capital by Oaktree, in conjunction with the amended bank credit facility, will provide Diamond with sufficient liquidity to meet its anticipated near-term and long-term funding needs. The Oaktree investment initially consists of $225 million of newly-issued senior notes and warrants to purchase approximately 4.4 million shares of Diamond common stock. The senior notes will mature in 2020 and will bear interest at 12 percent per year that may be paid-in-kind at Diamond's option for the first two years. Oaktree's warrants will be exercisable at $10 per share, and would constitute a fully diluted ownership level of approximately 16.4 percent of the Company.
The agreements provide that if Diamond secures a specified minimum supply of walnuts from the 2012 crop and achieves profitability targets for its nut businesses for the six-month period ending January 31, 2013, all of the warrants will be cancelled and Oaktree may exchange $75 million of the senior notes for convertible preferred stock of Diamond. The convertible preferred stock would have an initial conversion price of $20.75, which represents a 3.5 percent discount to the closing price on April 25, 2012, the date that the Company entered into its commitment with Oaktree. The convertible preferred stock would pay a 10 percent dividend that would be paid in-kind for the first two years.
That's a good question...market still digesting the news...
MF Global Trustee Gets $168 Million From JPMorgan
BY AZAM AHMED AND BEN PROTESS
The trustee overseeing the return of customer money following the collapse of MF Global has received more than $168 million from JPMorgan Chase, according to people familiar with the transfer — the first such payment from the bank since the commodities brokerage firm once run by Jon S. Corzine filed for bankruptcy last October.
The money, which was sent Thursday night, is part of the extra collateral that MF Global posted to assuage worried trading partners before it collapsed. As those positions were sold in the aftermath of the firm’s dissolution, the cash was returned to JPMorgan, which facilitated and cleared numerous trades on behalf of MF Global.
The money is not technically part of the $1.6 billion in customer cash that vanished from the firm in its final days, but the trustee, James W. Giddens, plans to use it to repay the farmers, traders and hedge funds who have waited more than six months to get all of their money back.
JPMorgan has been in the center of the controversy surrounding the missing funds, as customers, politicians and federal investigators struggle to figure out how MF Global managed to misuse the cash before collapsing. Indeed, investigators have scrutinized a $175 million transfer the brokerage firm made from customer accounts to JPMorgan the day before it collapsed. The transfer, which was authorized by the firm’s Chicago office, was made to patch an overdraft.
Those funds are not part of the money sent to the trustee, and remain the subject of continuing negotiations, according to people briefed on the matter.
A JPMorgan spokesman declined to comment.
CPIC, more low volume and new lows .44
mkt cap 3 million
DMND is one of the most shorted stocks out there. If you have shares, put a GTC good till cancelled sell order at a high $$$, IMO.
Didn't know they could do something like that. What did they say?
CPIC new lows being hit .44
New lows being hit .44 CPIC
It might be because they are on the OTC, many institutions can't hold on that exchange or under certain $$$.
MFGLQ made a nice move the last couple days...somethings up here?
Sometimes I seem to be patient or impatient at the wrong times...sometimes it works out :) Best of luck to you.
A bit hard when entry was in .40s. But you may be right!
I did, but I sold when it hit around 2 before, and didn't get a chance to buy back on the last dip before announcement. :( bummer.
Hope it continues to fly dd.
Congrats to those who held NEPH, looks great :)
DMND looking good again today...$23.81