$ANWWQ: Given that Litigation-Trust renders Recouping of Losses
Initial Fraud estimate resulting from misappropriation of assets was
at $200Million
So the Shares of NYSE listed Aegean ANW started falling on this news
back on June 4th when the Share Price was at $2.86
It fell down to $0.70/sh
So the Delta there is $2.10
Then that $200Million was later revised to $300Million in November.
The stock fell down to $0.18 from $0.65 on Nov.7 including
the NYSE de-listing.
If Mercuria owns 30% of OS at 17,458.038 then 100% of OS would
be equivalent to 58.2Million OS
So at a Top Level, I'm assuming that at a MAXIMUM the Litigation
Trust would have to result in ...
$2.10 x 58.2Million = $122.2Million MarketCap
I don't think that $122.2Million in its entirety will be given
back but a decent percentage of it will be. Maybe $60Million after
all the various Class Actions that were filed are accounted for.
Since Mercuria is backstopping this fund by at least $14Million, given
their enormous balance sheet and cash availability, and considering
that they are going to own 100% of the New Common Equity anyway,
they might just wipe the entire plate clean and give back
everything that the remaining 70% own. Mercuria has already
clearly stated that unsecured creditors including 100% common equity
will be compensated so I don't see why they would balk on that now
and nickel/dime it to nothing. Mercuria is much more Professional than
the ex-Cons of Aegean ever were.
So My guess is, that if its paid back thru this listed $ANWWQ then
we should see a rise to $0.50-0.70/sh. Either
it comes thru this ticker or a close out dividend, I don't know
but one of those two options will play out.
Feel free to share your thoughts on this or any other considerations
that should be factored in.
GO $ANWWQ
AI
