the cash part, which is estimated at $7.53 , is tied to the book value of amtg, which will be determined right before all the proxy stuff is mailed out to shareholders. The $7.53 was determined from book value of amtg on dec. 31 which was $16.40. Book value will either go up or down resulting in more or less than the $7.53 price. The change in book price multiplied by 89.25%, will be how the final price is determined.
kiss all divys goodbye after next bank meeting in May. That's a given. Also they said they expect to be kicked off the stock exchange at some point and never said a word about a reverse split. Most depressing call in a while but I think I will hang in there as the hedges are excellent for next 3 years and cannot believe these low prices will last that long. Also, they have one, that's right folks, one drill rig working in the whole company.