I don't like the general market either but I play company stocks, not the markets.
;<)
The MAXF issue may have a quicker resolution than we thought:
meeting this afternoon....
by: micro00 01/15/03 12:37 pm
Msg: 5613 of 5615
NEW YORK and LONDON--(BUSINESS WIRE)--Jan. 15, 2003--NTL Incorporated
(formerly NTL Communications Corp. and referred to in this release as "the
Company") has been advised by certain parties that a hearing has been set for
this afternoon (New York time) regarding a motion those parties' intend to file
before the Bankruptcy Court this morning relating to Nasdaq's determination on
January 14, 2003 regarding the settlement of when issued trading of the
company's stock (NTIWV).
This matter does not relate to the settlement of trades that have occurred
with respect to the Company's common stock (NTLI) since it began trading on the
Nasdaq National Market on January 13, 2003.
The motion will seek an order from the Court that could have the effect of
requiring adjustment of the settlement of the when issued trades. This
adjustment would take into account the previously disclosed, court authorized
reduction in the number of shares the Company issued on the effective date of
its plan of reorganization, which resulted in the issuance of approximately 50
million shares rather than approximately 200 million shares.
NTL emerged from bankruptcy protection on Friday January 10, 2003, and issued
50,500,969 shares of new common stock. Four hundred million shares of common
stock were authorized. The Company's common stock (CUSIP 62940M104) and Series A
warrants (CUSIP 62940M138) have begun to trade on NASDAQ commencing Monday,
January 13, 2003 under the symbols of NTLI and NTLIW, respectively. Shares of
common stock of Old NTL, which previously traded under the symbol NTLDQ, have
been cancelled.
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