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Technology Stocks : INTCW
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To: Ginger Bates who wrote (32)1/16/1997 9:00:00 AM
From: Gorak Shep   of 78
 
Ginger, INTCW is a step-up warrant which in this case means the strike price will increase by $1.50 on March 14, 1997, I believe. The warrants expire March 1998 so this is the last step-up in strike price. If the split were to occur before the step-up in strike price, then the step-up would be $0.75. But the Intel press release said that the split would need approval at the May annual meeting. I believe this is because they need to authorize more shares in order to allow the split. Since this won't happen until May - it is hard to believe this would be disallowed - the split cannot happen until then. Thus the last step-up in March will precede the split.

Hope this was clear enough.
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