Amarin Corp Plc (AMRN)

[jessellivermore]

Dear BobJ

You can check my earlier post it spells out the important conditions of the Jan 9, 2012 convertible issue. As I said it was not offered to the small fry. Still you do not get money for nothing..In this case AMRN got $150mil and they need every nickel of it.

The convertible note has had some major effects on PPS. For instance almost all who took the offer at $8.80 imediately shorted an identical amount of the common, which not only created a perfect hedge, but meant they were drawing close to 7% interest on their cash layout as shorting the stock allowed them to recoup 50% of the cost of the note..(The reason we did not get a piece of the action.)

Life is tough. Forget about unfairness, every little brother learns that at a young age. What AMRN is doing now is the right thing..put another way they can not afford not to do this. If they do not preserve capital and cut their outflow then they will not survive without a substantial sellout. Their next step needs to be to restructure the Pharm loan to further cut their. Loan payments. They need to do whatever it takes to get to the end of REDUCE-IT

":>) JL