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By the way, the same nitpicking with "Subsidiary" (uppercase) and "subsidiary" (lowercase) in the PA&A. Any explanations?
"Subsidiary" (uppercase) is defined in the P&AA as follows:
"Subsidiary" has the meaning set forth in Section 3(w)(4) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1813(w)(4), as amended
Can anyone please explain why the P&AA differentiates between "Assets" (uppercase) and "assets" (lowercase) so strictly?
On page 2 (PDF page 6) of the P&AA "Assets" (uppercase) is defined as follows:
"Assets" means all 'assets of the Failed Bank purchased pursuant to Section 3.1.
Assets owned by Subsidiares of the Failed Bank are not "Assets" within the meaning of this definition.
...plus additional money from the FDIC's LIBOR actions "on behalf of the failed banks"?!?
Sounds great! I hope MW, Susman, the WMILT and the FDIC-R also know or knew that...
Thanks for your DD!
Each billion the WMILT receives brings
0.178$ for each WAMUQ escrow share and round about
100$ for each WAMPQ escrow share
So if LG assumes face value for the Ps (which is 1000$), the WMILT needs 10B $, which means 10 x 0,178$ = 1,78$ for each WAMUQ escrow
CDEL has 3068 @ 3.91$ in the Ask at the moment. A good offer I think...
If no money has come to our accounts in the beginning of 2015, it would be a pleasure for me to spend some money for a class action against whomever (tbd. when the time is ripe)! And I think there will be many other German/European shareholders who were waiting for "fair & reasonable" for more than 2 years then who would also join!
You are absolutely right! But I think we should wait a few months until the final closure of the P&A took place, but then, if after all no money came to our accounts, we should start a class action against possible targets. I am sure, there will also be many German shareholders who would join and provide money for a class action. If the time is ripe, contact me, and I will ask on German boards...
And if nothing works, class action, JPM is a target, and you know that.
I'll go all the way. I'm not alone.
I think the other way. The web page is already complete (perhaps already last week), but they had to finalize the acquisition/merger, and can now both release together. Perhaps this evening, tomorrow, or on Friday
No, WMIH was the issuer of the stock I think
it is related to this one:
Jun 4, 2014 GLOSSMAN DIANE BETH
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 RENOFF MICHAEL J
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 WILLINGHAM MICHAEL
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 HOLLIDAY MARK E
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 GRAHAM TIMOTHY R
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 SCHEIWE STEVEN D
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
Jun 4, 2014 DAVIS EUGENE I
Director
35,842 Direct Acquisition (Non Open Market) at $2.79 per share. 99,999
--> sums up to 700.000$
In the middle of my post, I don't mean the "acquired company" (it cannot be a takeover, because then we would need approval of 90% of the shareholder of the target), but the company we would merge with on the Cayman Islads.
Perhaps we issue shares to KKR so we get a market cap near 1.3B $ and then do the "merger" with GLRE. Possible?!?!
I did some research on M&A and takeovers on the Cayman Islands and found these interesting things (perhaps nothing new for the US shareholders):
http://www.solomonharris.com/mergers-and-acquisitions
They state:
At least one of the constituent companies must be a Cayman company, but the surviving or consolidated company may be either a Cayman company or a foreign company (being a company registered outside the Cayman Islands).
3.3 Dissenting Shareholders
Any dissenting shareholder of a constituent company is entitled to payment of the fair value of shares held upon dissent to the merger or consolidation. Where the parties cannot agree on price, either party may file a petition to determine the fair value.
Note, however, that dissenting rights are generally not available if the shares are listed on a recognized stock exchange.
The rights of dissenting shareholders do not delay or impede the effective date of a merger or consolidation but rather run concurrently and may well extend past the
effective date. Shares of dissenting shareholders acquired by a company are to be cancelled and, if they are shares of the surviving company, are available for reissue.
I think it could be possible, although I think 1.2B market cap seems a bit too much for us.
I didn't mention it here, only in german boards. As long as the WMIH page was online, you could find parts of Greenlight Re's financial status (especially this part Investment Returns on the WMIH page, with version of February/March and other copied text). This page was not directly reachable via the main page, but it could be found when "greenlight" was entered into the search field. This could be BIG!!! But it is also possible that we have a lazy web page designer who simply copied the parts from Greenlight. Who knows... But why Greenlight? Only because it is another reinsurer??? Any ideas?
I am anxious to see if these parts of the page will still be there when http://wmiholdingscorp.com/ gets relaunched...
Yes, providing the web space, hosting and probably programming the page
And WaMu is also listed in their BMC Group Clients and Users
BMCGroup is hosting WMIH page
The fact that MarkMonitor is registrar of wmiholdingscorps.com was posted a few days ago i think. But another fact I din't see here on iHub (I already shared this info on german boards) is that the webpage is hosted via BMCGroup www.bmcgroup.com
So you can reach the page also via
wmiholdings.bmcgroup.com
You are absolutely right, but only if we all hold our shares tight and don't throw them for 3.80$, 4.50$ or even 8$.
Look at Santhera the last few weeks (ISIN: CH0027148649) They started near 3€, went to over 32€, bounced off and now are at about 24€. I hope something similar will happen here.
Regarding the share lock we could imo get a larger rise than expected imo
Google for the slogan on the WMIH web page "OUR BUSINESS IS TO HELP OUR CLIENTS DO THEIR BUSINESS BETTER" (with quotes). The only interesting hits are from Greenlight Re and Greenlight Capital.
Also the design of the page is identical.
And they have a market cap of about 1.2B.
Sounds good? But I can be totally wrong!
This was my 3rd post for today! Hope we will see an 8K soon...
No sorry, I am only software developer without skip trace backgrounds
If we have the webpage online now, with the same design and the same slogan as Greenlight Re, then the aquisition should already have happened a few days ago, am I right? Or is it pure coincidence because WMIH and Greenlight Re had the same uncreative web page designer?
www.greenlightre.ky
Same webpage design and same slogan as on wmiholdingscorp.com
Coincidence? Or is this our aquisition. A reinsurer on the Caymans? Is this possible to use the NOLs???
I just registered on iHub to post this info. Usually I am active on "Aktienbase", a german board, where WithCatz sometimes posts. I own shares since 2010 and loaded up some new shares since Dec. 2013.