Ann: Change in substantial holding, page-13

So you’re basically saying that STAM are trying to get as close as possible to a “free option” situation? Maybe you’re right.

What I personally think it is fair to conclude, for what it’s worth, is that either a) STAM are highly confident that this is going to be worth a lot more at some point, or b) they are highly confident that they can successfully push for a wind-up within the next year or so.

Regarding the latter, though, I am not sure what could justify such a confidence; therefore, it seems more likely to me that STAM are simply adding due to the combination of sharply lower price and unchanged fundamentals.