Ann: Change in substantial holding, page-15

Thanks 21391401. Yeah I was just reading this, many respected posters here, been a shareholder for nearly 3 years don't post much anymore.

To me there seems to be no link to that 3Y and today. I understand his comments in that post. Hes basically saying he intends to cashless convert, but I'm missing the link to his share purchases up until then and todays activity.

Today, RAC only created 2.3M shares today and cancelled 2.5M options. That, by my definition means 200K shares were forfeited to accumulate $ for the remaininng exercise price.

Unless, what I'm missing is he was buying in September to forfeit a small parcel of shares to help pay for the 2.5M (and perhaps thats why EW posted before with the mismatch)? But I don't see a sell from him, and the 200K of shares lost, seems to match up with the total exercise price.

I just don't see it - sorry. Either way it is bullish and well done Dr. T.