Replies to post #32 on Hilltop Holdings Inc (HTH)

[Enterprising Investor]

HTH owns 8,695,652 SWS shares (7/29/11)

Controls 21.1 percent.

a) Includes 8,695,652 shares of common stock that are acquirable upon the exercise of a warrant. The warrant is exercisable at any time for five years from the date of original issuance, but will expire to the extent that SWS Group, Inc. prepays the loan made to it by Hilltop Holdings Inc. and the holder does not exercise a corresponding portion of the warrant. The exercise price and number of shares of common stock acquirable upon exercise of the warrant is subject to adjustment as set forth in the warrant.

http://sec.gov/Archives/edgar/data/878520/000110465911044918/a11-23952_1sc13d.htm