CAWS - Wireless Cable (New and Improved) Message Board

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Technology Stocks : CAWS - Wireless Cable (New and Improved)

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To: Jeff Clegg who wrote (84)	11/5/1996 10:40:00 PM
From: Russell Petruzzelli	of 5812

Jeff, I checked out old news reports on HNV from Yahoo (http://biz.yahoo.com/news/hnv.html), would this loan coming due Nov 14 have anything to do with the insider buying?: WEEHAWKEN, N.J.--(BUSINESS WIRE)--Sept. 11, 1996-- Hanover Direct announced today that it has received a $10 million loan from Intercontinental Mining & Resources Inc., a subsidiary of NAR Group Limited, the company's majority shareholder. The $10 million loan is due Nov. 14, 1996. It carries an interest rate of prime plus 1-1/2 percent. If the loan is not paid on or before May 15, 1997, NAR has the option to convert the loan to common stock at the lower of current fair market value or then fair market value of the common stock. Russ

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