Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 12.22

+6.2%

Dec 4 3:59 PM EST

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To: Michael Olds who wrote (9341)	6/18/1999 7:06:00 PM
From: killybegs	Read Replies (2) of 17679

I have been tied up( almost literally) all week, so I don't have time to talk about the preferred much now. Will come back with details later...However, it is Ampex's option to redeem in cash or stock for this payment. It is 1.5 million this quarter, sep30 quarter, dec30 qtr and march 31 qtr for a total over 6 million face amount redeemed over the next 12 months....then it is 1/36 per quarter over 36 quarters or the next 9 years... Ampex has stated in the recent 10Q that they intend to redeem the june through march redemptions in stock; however they can always change their mind and pay in cash. I didn't know the news on technolgy pact until the other day...s

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