UAI - Unistar - BB reverse merger that moved to AMEX Message Board

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Non-Tech : UAI - Unistar - BB reverse merger that moved to AMEX

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To: RockyBalboa who wrote (46)	7/22/1999 2:36:00 PM
From: Q.	Read Replies (2) of 133

I got a hardcopy of the WSJ article on UAI. Lots of important stuff there. It says that UAI filed with the Texas Dept. of Insurance to sell IFHC to its principal shareholders, which I assume would mean Sparks and Nelson. Apparently USIS is planning to acquire IFHC from them. That's my best guess. It says that UAI is now in the Russell 2000 index of small-cap companies. It was added June 30. This is really interesting to me. It means that a lot of index funds had to buy the stock approximately June 30, and they will have to hold it until next June 30 when Russell next reconstitutes the index. shares of this company are going to be held by index funds b The WSJ contacted AMEX, and AMEX declined to comment on the halt. It also indicates that the no. of shares owned by Sparks and Nelson has declined from at least 6.6 M shares each to only 2.4 and 1.2 M shares, respectively, in a May 6 proxy. Sparks says he hasn't sold any shares, though he says he has transferred some shares to others, including his lenders (which sounds like BS to me -- giving a creditor some shares of stock is effectively a sale of the stock).

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