Saturday, August 05, 2006 1:46:05 AM
FGFC Question
Hi Low,
been following FGFC, interesting play as company is retiring 48 million shares, to reduce authorized shares to 150 million, and recently authorized reduction of another 50 million outstanding restricted shares (does that make sense?). Also on Allstock message boards it appears those holding shares long are accumulating a tally of the percentage of the outstanding share balance they currently hold - up to 45% of outstanding as of August 1st.
Ever seen this type of a scenario before? And if yes, how did it play out in the long run.
Thanks.
WaycoKid
Hi Low,
been following FGFC, interesting play as company is retiring 48 million shares, to reduce authorized shares to 150 million, and recently authorized reduction of another 50 million outstanding restricted shares (does that make sense?). Also on Allstock message boards it appears those holding shares long are accumulating a tally of the percentage of the outstanding share balance they currently hold - up to 45% of outstanding as of August 1st.
Ever seen this type of a scenario before? And if yes, how did it play out in the long run.
Thanks.
WaycoKid
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