Replies to post #5100 on Dime Bancorp Inc (fka DIMEQ)

[jmbell42]

Hey CD,

I think that, in the event of our equity classification, that might be how it works... I just can't find definitive verbiage in the POR that would support that specific case. The POR speaks about being treated Pari Passu... well, fine, but what does that mean?

I agree that your math works for me, and I think that this is very similar to a posting on the diligent investor.

I guess what I'm saying is that my Scenario (1) is most likely what you just posted... and I was a bit over the top in saying "diluted into oblivion"... I guess if the price of WAMUQ drifted way down to 0.01 or something, then our % of the pot would proportionally increase.

You make a very good point, however, and I completely agree that my Scenario (1) should be revised with your methods applied!

Thanks CD!

Jared

[Kharybdis]

That is one conversion method that is much closer to reality and fairness than what the debtor currently put in their plan. Their theory was to first give the LTWs one share of common and then add the market caps of old Dimeq and WAMUQ to arrive at the proper sharing percentage. It is inverted from what it should be.

Believe me, we will not stand still and be steamrolled on this issue. There is no logical argument that the Debtors or the EC can make to support their conversion rate and the Court will not buy off on it either.