APY New Aquisition, page-88

Just looked through APY's top 20.

Pros:  
- Huge accumulation by the Whiddon Family past 3 months with an estimated 10% holding of the company
- Jay Hughes (Executive Director of Euroz) holding 5.45% of the company
- Stephen Dobson (experienced professional in telecommunications & information management industries) holding 5.5%

Cons:
- MC trading at $11.5 million currently, cash estimated to be between $6 - 7 million, meaning current EV around $4.5 - 5.5 million... i understand that there will be further cash coming in from final sales?  The question will be - is the current EV worth the buy based on speculation?
- Deustche Bank (previously a 4.6% holder) selling their shares on market in the past month, as shown in broker trades below - the question will be, how much more distribution do they have to go?

My own thoughts - it's all a matter of speculating whether a deal is near or not.  I think is that companies with a fair amount of cash will perform DD thoroughly and timely, so there may be opportunity to pick up APY shares at a price lower than this depending on how many shares Deustche Bank has left.