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Post# of 103302
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sageofflorida

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sageofflorida

Re: Grozny post# 54157

Friday, 10/23/2009 9:21:39 AM

Friday, October 23, 2009 9:21:39 AM

Post# of 103302
Share totals etc. One point I'd like to make is that I seem to recall that part of MBB'S holding is held via a pref. It was debt that he converted into a pref some time ago. If my memory is correct it would follow that his DIRECT ownership of common equity is less than the 70% of the issued capital we are working from.The pref is convertible into ordinary I believe.

To clarify this we would need of course to verify my recollection of the structure is correct- it may not be.

My impression is that as percentage of his total holding the pref is not significant but nontheless it does need to be accounted for.

Sage.
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