solvency and a 2 month wait, page-34

"Something to consider. King entire holding is rumoured to be with Tricom Margin Lending. Assuming he has more than 10M shares we could see bloodbath unless he can sell off-market. However I think MFS may be worth $2 mediuym term"

Hi rumbai

See my post dated "Something to think about" from 2 days ago. It explains King's holdings and position.

He has 32m shares plus whatever Philip Adams holds. The "trigger" for the margin call to kick in is about $2.00 for King. MFS have to do what they can to make sure that stock does not flood the market...which probably means trying to find an "angel investor" to take a strategic stake...but not necessarily at $2.00. MFS won't care about protecting King...just protecting the company from his and Admas shares flooding the market and causing a further "step down" in the fundamental value of the share price.

It is a massive holding.