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Re: slob post# 368312

Wednesday, 03/28/2012 11:28:47 PM

Wednesday, March 28, 2012 11:28:47 PM

Post# of 749756
yes. all issued shares are restricted (meaning no one entity can change their ownership percentage if they already own 9,500,000 or more, and no entity can acquire more than 9,500,000 if they do not already own that much.)

All WMIH shares are the same, all common. There is no distinction whatsoever between pre-seizure, post-seizure, pre-BK, post-BK, pre-tribulation, or post-tribulation. (Or mid-trib, if you're one of the few who swing that way...)

Actually, after reading your last sentence, I think you may be confusing your broker's failure to allow trading today with a share restriction (E*Trade is the only one I'm aware of that was giving people trouble, but there may have been others)... it's not the same thing as the ownership restriction imposed by the articles of incorporation. In the case of E*Trade, that problem should be resolved tomorrow.

As for why it was allowed to trade so soon - I need to look up the rules for the OTCBB, there has been speculation that trading is possible on the OTCBB Pinks if any market maker submits an application and agrees to make a market, and it may not have anything at all to do with the WMIH board of directors' action or inaction at all. More to come on that later, I'm sure.

I have a social disorder (although it's not quite full blown Asperger's), and can come across differently than intended...if you're offended by something I've said, I probably didn't mean it with such animosity - please take it with a grain of salt. :)

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