MNS - should we take the loss, page-19

Hi DJ, would that largest holder be Mazzdel, if so I believe they have sold down during the last year by about 10m securities.

In 2015 Annual report they had shares 24.8m plus options of 33.8m giving roughly 58.6m securities

In 2016 Annual report they had shares of 48.4m and not in the top option holders so a nil to minimal holding.


So a drop of roughly 10m securities if my reading is correct. Obviously they probably sold some to pay for options conversions which would have cost them about $3.4m but perhaps also took a little of the table as well.

Good luck to them if they did, they have been a strong supporter of MNS and no doubt will be in the future.

Anyway, just thought I would check with you as your post seemed to imply they hadnt sold any, perhaps my calcs are wrong.

Thanks