China Ceramics Co. Ltd. (CCLTF)

[tenenbaum]

I hadn't noticed this before

http://www.sec.gov/Archives/edgar/data/1470683/000143935710000001/0001439357-10-000001-index.htm

I've actually met Brian Taylor before in a previous life when I did research for a hedge fund-of-funds. Pine River is a fairly large player in the equity derivatives space (CBs/warrants). They do a lot of vol arb, but also take outright positions in fundamentally undervalued securities ... I assume that's what their play is here since the warrants are

a) cheap
and b) there's zero chance of getting borrow/using the common to delta hedge given the liquidity =)

Looks like they began buying in mid March