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Friday, April 08, 2005 11:21:04 PM
The 96M (now less 24M) shares may possibly be used as part of the merger distribution, but they would still need 378M more to be able to give a 1:1 SCMI (450-72). However, it is not stated anywhere I can see that they will be put to that use, except that they will not be distributed as dividends as originally intended (going by jr's post).
This is the key to what this registration is about.
The Registrant hereby amends this registration statement on such date or dates
as may be necessary to delay its effective date until the registrant shall file
a further amendment which specifically states that this registration statement
shall thereafter become effective in accordance with section 8(a) of the
Securities Act of 1933 or until the registration statement shall become
effective on such date as the Securities and Exchange Commission, acting
pursuant to said section 8(a), may determine.
Clear as mud
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