Replies to post #7610 on Dime Bancorp Inc (fka DIMEQ)

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The following quote is from an 8k filed on April 17, 2012 by WMI Liquidating Trust:

"...distributions were made with respect to the Allowed LTW Claims (within the meaning of the LTW Order and LTW Stipulation, respectively) on April 17, 2012, to those LTW Holders who executed and delivered releases in accordance with Section 41.6 of the Plan. Such distributions consisted of an aggregate of $8,070,454.18 in cash, $39,051.00 in Runoff Notes (as such term is defined in the Plan) and 4,486,672 shares of common stock of reorganized WMI (“WMI Holdings Corp.”). As also disclosed in Section 41.6 of the Plan, those LTW Holders who did not release their claims will not receive any distribution under the Plan."

Link: http://www.sec.gov/Archives/edgar/data/933136/000090951812000152/jg04-2412_8k.htm

Also, we know that Dime holdders were entitled to get up to 8.77% of the Reorganized Common Stock of WMI (page 24-- http://www.wmitrust.com/wmitrust/document/8817600120507000000000003), which equates to 17.54mm shares (that is, reorganized WMIH had 200mm shares outstanding).

So....Since LTW holders were issued 4,486,672 shares out of a possible maximum of 17.54mm shares, then that implies 25.5% of shares "opted-in" and signed releases.

If this is true, then that implies the current LTW shares outstanding--if they were reinstated--would be approx 83mm, or about 75% of the original 112mm shares outstanding.

I hope there is a flaw in the above logic because I was really excited about the idea of "90% having opted-in." :(