Replies to post #2592 on Tingo Inc (TMNA)

[MannyFresh]

Consistent quarterly cash dividends would be good as well if they don't distribute

[Cuppy]

I’m sure the company sees that investors are confused… Why don’t they issue a press release to make it crystal clear what their intentions are?

[Perfectson]

At the closing, MICT will issue Tingo shares of its common stock equal to 19.9% of MICT’s outstanding shares, as well as Series A and Series B convertible preferred stock. Subsequent to the closing, MICT intends to seek shareholder approval of the conversion of the Series A and Series B, as well as Nasdaq approval of the conversion of the Series B preferred stock, which at the time of the conversion would give Tingo, and ultimately the Tingo shareholders, ownership of 75% of the outstanding shares of MICT common stock. In 2023, the parties expect to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) to enable Tingo to distribute the shares of MICT to its shareholders.

yep - so this does state specifically shares of MICT will go to the shareholders. Curious if there was a deadline, because everyone could just jump into TMNA right now and I'm not sure why they would distribute shares vs keeping them in TMNA and letting TMNA blow up.

to your point, need clarity

[snow]

thebear37 What you write makes good sense up to a point at least. But right now the discrepancy in the pps between TIO and TMNA now seems to me to be too big to be fully explained by your ideas.