I would have thought that the people in the know, especially the directors of Mae, OPY and the significant shareholders of both these companies, would have bailed had the re-finance issue for MAE not have been resolved by now. I appreciate that such late and insider trading action of a late dumping, could/would cause them problems with the relevant authorities, but I am sure there are ways and means available to get around such trivalites. Remember these holders own many many millions of shares and can pay for the best legal advice. In my view there has not been any wholesale dumping of shares. IMHO, by leaving it so late, any dumping at this stage would surely place the shares at a very marginally price (e.g., 1 cent) because after the 9th they would be worthless for a company that is bankrupt. No, the re-finance issue is solved....an announcement will be made to that affect! Options will probably be bought by the directors and we will have to wait for GS to tell all remaining shareholders which company is the successful bidder and for how much. Also, I don't believe for one moment an astute company like GS would persist in this process if they were not going to make a significant amount of money by selling MAE for lots of dollars.
MAE Price at posting:
37.0¢ Sentiment: ST Buy Disclosure: Held