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AMBAC FINL GRP INC Message Board

  • alehopo1 alehopo1 May 3, 2013 3:44 PM Flag

    I know is nonsense, but...

    Reading the press releases on ambac site of April 29 and May 1, I see this:

    April 29: "In addition, all existing common stock of the company will be cancelled on the Effective Date and the holders of such stock will not receive any distributions under the Plan".

    May 1: " All common stock of the Company in existence prior to Ambac’s emergence from bankruptcy has been cancelled. Holders of such existing stock have not, and will not, receive distributions under the Plan".

    It says "will not receive... UNDER THE PLAN".
    So, OUTSIDE (if I can use this word) the plan... could happen anything? And if it was the case... who could/would make it happen? Is all the old commons data (owners, number of shares...) deleted or destroyed or wathever?

    I don't think anything happens, of course, but sometimes words can hide something and be understood on many ways.
    And please, as far as I know this post is just nonsense and I'm a foreigner, I would appreciate if you try not to get mad with me... and just laugh if is what u feel!!
    Have a nice weekend

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