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sbc357

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sbc357

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Re: mcmike post# 880

Friday, 09/02/2005 10:16:57 AM

Friday, September 02, 2005 10:16:57 AM

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McMike,
You post:
"Noone ever DID get back to me on whether there are convert holders who MUST sell to avoid the 10% holding covenant."

In my post #812 I posted a reply:
"When I approached Roy about the 9 Institutional Investors that had to stay below the 10% ownership - his remark was something to the effect that they were nowhere close to having 10% ownership, so our concern about them being forced to sell (thus dilute) to maintain levels in the agreement was laid to rest".

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