I would very much like to know more about the MtK bond holders,...

I would very much like to know more about the MtK bond holders, as I think understanding their likely motivation is critical to any success in guessing the movement of the SP in the next year or so.

My own current best guess is that MtK is a bottom feeding fund manager that tries to pick companies in distress with a very good prospect of turnaround and that JARE referred some Japan Inc mates to them to fill their quota for the LYC deal - but no more closely aligned than that. (Very successful play with LYC BTW). I don't get the impression that Fortress hold the bonds, rather they have effectively taken over MtK - sort of like taking over the broker who placed the bonds and advises bond holders. In other words my guess is that individual bond holders make their own decisions and may not coordinate their warrant exercise or conversion strategies. However all this is all based on inferences from snippets provided by Mr Google - so could be very wrong.

If that thesis is right, I reckon most will profit-take at these prices and Wayward's TA prediction of a 9-13c trading range until the warrants are all out of the system would be spot on - despite the obvious buying interest currently on display. If most bondholders are JARE proxies or act at their bidding, the likely course of trading could be quite different.

If anyone knows anything more about who the actual MtK bond holders are, please do say.