CLSI? I looked at that one a couple years ago. Thought the Denver Boot would be a good product, but I was starting to wise up to the OTCs about that time and stayed away. I see it's still hovering around .02
ELN~in the news... after the market closed ...looking for a pop and then some tomorrow (unless the recent run up was based on this being more common knowledge than I had thought?)
Elan Repurchases 40% of Outstanding LYONs Thursday June 12, 4:12 pm ET
DUBLIN, Ireland--(BUSINESS WIRE)--June 12, 2003--Elan Corporation, plc (NYSE: ELN - News; "Elan") today announced that, through early June 2003, it repurchased approximately $524 million in principal amount at maturity of its Liquid Yield Option(TM) Notes due 2018 ("LYONs") through a number of separate, privately negotiated transactions. The repurchases represented approximately 40% of the LYONs outstanding at the beginning of the year. The aggregate purchase price of the LYONs was approximately $310 million, representing a discount of approximately 4% to the accreted value of the LYONs at December 14, 2003 of approximately $323 million. As a result of all the repurchases, the aggregate purchase price of the LYONs at December 14, 2003 has been reduced from approximately $1,013 million to approximately $494 million.
After taking account of all repurchases completed since the fourth quarter of 2002, Elan has repurchased a total of $842 million in principal amount at maturity of the LYONs, representing approximately 51% of the originally issued LYONs, at a cost of approximately $460 million. Holders of the LYONs may require Elan to purchase all or a portion of their LYONs on December 14, 2003 at a price equal to the issue price of the LYONs plus all accrued original issue discount through the purchase date. Elan may, at its option, elect to pay the purchase price for the LYONs in cash, by the delivery of ADSs, or any combination of cash and ADSs. Elan may repurchase additional LYONs in the future and any such repurchases may be material.
Elan is focused on the discovery, development, manufacturing, selling and marketing of novel therapeutic products in neurology, pain management and autoimmune diseases. Elan shares trade on the New York, London and Dublin Stock Exchanges.
This document contains forward-looking statements -------------------------- That removes a HUGE doubt about what ELN was going to do at year end! Now that is what I call a great use of company's funds!
"Elan has repurchased a total of $842 million in principal amount at maturity of the LYONs, representing approximately 51% of the originally issued LYONs, at a cost of approximately $460 million"
IMO looking very good indeed and only compounds my error of late... selling 1/3 of ELN position to take a position in XEDA, PQUE and PROX (dang -- dang -- dang!!!!!)
while I say "live and learn" .... just hope the learning part comes quicker than it seems to have <g>
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