Metro One Telecommunications--MTON Message Board

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Technology Stocks : Metro One Telecommunications--MTON

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To: Return to Sender who wrote (582)	11/17/1999 8:57:00 AM
From: Return to Sender	of 608

Metro One postpones secondary stock offering PORTLAND, Ore., Nov 17 (Reuters) -- Metro One Telecommunications Inc. (NasdaqNM:MTON - news) said Wednesday it was postponing a secondary offering of 2.07 million shares. The directory-assistance provider, in a statement, cited the recent drop in the company's share price. The stock dropped from 15-15/16 to 9-5/16 on Monday after Metro One said its fourth-quarter earnings would fall well short of Wall Street forecasts. The company blamed higher labor costs. Metro One filed with the Securities and Exchange Commission last month to offer 2 million shares. Stockholders, including Chief Executive and President Timothy Timmins and director William Rutherford, were to offer an additional 67,500 shares. ''We will monitor market conditions and determine whether or not to proceed with the offering within the next several months,'' Timmins said. biz.yahoo.com Cancelled offering as predicted. Stock should move higher this morning.

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