SILICON STORAGE SSTI Flash Mem Message Board

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Technology Stocks : SILICON STORAGE SSTI Flash Mem

SSTI 9.530

+1.9%

Nov 3 3:59 PM EST

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To: Ram Seetharaman who wrote (557)	5/3/2000 11:25:00 AM
From: Mr. Miller	of 1881

Silicon Storage(SSTI) Looks To Boost Authorized Common Shares To 250M newsalert.com May 02, 2000 15:47 (NewsTraders.com)--Silicon Storage (SSTI) is asking shareholders to back a proposal that would increase the number of common shares the flash memory chip maker is authorized to issue to 250 million from 45 million. Silicon Storage explained that it currently has no specific plans for the additional shares, but that it simply wants to have the stock available for use in various potential actions, including follow-on offerings, equity incentive plans, and in connection with strategic relationships or acquisitions. Even in light of the company's assertion that it has no plans for the stock at present, such an increase in authorized shares typically sparks speculation of a stock split or stock-based transactions. As of March 31, Silicon Storage had more than 29 million shares outstanding, and 4.7 million shares set aside for use under stock options, according to a preliminary proxy released on May 1. Shareholders of record as of April 21 are entitled to vote on the measure at the company's upcoming annual meeting, to be held in Sunnyvale, Calif., on June 16. Shares of Silicon Storage were recently off $6.07 to $99.63.

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