C-Cube Message Board - Msg: 5236411

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Technology Stocks : C-Cube

CUBE 36.52

+0.3%

Dec 12 9:30 AM EST

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To: Don Dorsey who wrote (34442)	7/17/1998 11:15:00 PM
From: JEFF K	of 50808

It seems that the transaction of buying back convertible debt was straight forward. Also, It will save about 1M annually in interest expense.It will cost missed opportunities on 19.2m. In addition the bonds were convertible into common shares @ $ 30.+/- per share. This means the company believes spending 19.2M on its own shares is a better investment than allowing the bonds to be converted into approx 700K common shares. This could be construed as a savvy buy back that the shareholders had been hoping for.

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