The sales of exercised options seems likely to lock in the upside. Thorney had 24% of one of their funds in MNY, however a lot of that was bonds and thus associated options. Suspect this is what we are seeing. TOP might not want all the extra exposure. At 1.80 after all the dillution (173m+ shares on issue) we are still at about 10 times forward earnings, and naturally the new cash on the books to loan out does negate a lot of that dillution. If, of course, it is loaned out sustainably.
MNY Price at posting:
$1.80 Sentiment: Buy Disclosure: Held
