You can find the article by going onto the Syncora Holdings website under the Press Relations.....GLTA......Hose
I agree.......I really feel more positive today after their announcement......Things really might change over the next few months............GLTA..........Hose
Regulators were apart of this agreement... it now allows Syncora to do ALOT new things... I can't even begin to digest all this
+ALLOW payment to the holders of SGI Surplus Note!!
+Issuance of New Equity Securities ( restriction deleted, totally lifted!)
+buyback debt BELOW PAR
+expand debt allow by SGI sub to $250m (say what...WHY,... want to get new debt to do WHAT!?!)
+allow for the issuance of surplus notes junior to the existing SGI Surplus Notes
+++maybe even... pay dividends to holdco
redemption, exchange or
conversion of equity securities
(or those of its direct or
indirect parent) " "Modified for SGI VOTE" ...
I guess it means that the SGI and SCAI can transfer monies if needed........If you find out more please tell us. We need something good .......GLTU.........Hose
I tried to buy with Scottrade when it started to move from .08-.09.......It told me I had to put a limit order in, that you couldn't buy it by placing a market order.....I did not understand but so I put a limit order at the ask and I got it.
I received this email from Mr. Corbally this morning after I emailed him last Friday. I appreciated that he took the time to write me back.
Many thanks for your e-mail and apologies for the delay responding.
First of all we certainly appreciate your support over the years and your comments with respect to management’s efforts.
I know you follow the company closely so will be aware better than most that over recent months we have started to engage with investors a little more – specifically the investor call last November and the earnings call in April (transcripts and associated presentations available on our website, www.syncora.com). Although we have not committed to a schedule of future calls I do expect that we will continue to make further presentations or provide additional information outside our regular financial reporting as and when appropriate. In the meantime we will continue to provide extensive notes to our financial statements in order that all our constituents (common shareholders, preference shareholders, surplus note holders and policy holders) have as much information as possible with respect to the company’s financial standing and upon which they can make their investment decisions.
On the issue of the recent price drop, Syncora is not alone in seeing a reduction in share price over recent months; other financial guarantors have seen reductions ranging from -10% to -35% over the last three months. Clearly there could be any number of reasons for these drops but market commentators have indicated that the situation in Puerto Rico may be a contributory factor. From Syncora’s perspective I am sure you won’t be surprised to hear that I cannot disclose any information beyond what we have already disclosed publicly. However, on the subject of Puerto Rico we did discuss the Company’s exposure, reserve development and remediation activities in some detail in our April earnings call. There are also Puerto Rico related disclosures in
Obviously anyone who has been invested in this company for as long as we have feels that we do deserve from management something which would give us some optimism in the investment we have in this company. I wish, I hope we get something soon! Frustrating......and I have been a big time investor who needs to have some of my feelings stroked...........GLTU............Hose