The Salt Lake Tribune
Friday, August 6, 1999
Novell Inc., one of Corel Corp.'s biggest shareholders, in June sold $5.47 million of stock in the Canadian software maker representing more than a third of its holdings, an Ontario Securities Commission report shows.
Novell, the Provo-based maker of computer networking software, sold 1.51 million Corel shares, or 39 percent of its stake, between June 1 and June 30. The sales, at an average price of $3.62 a share, lowered its interest in Corel to 3.8 percent, figures in the OSC report showed.
"This is just a part of our strategy to sell equity," Novell Chief Financial Officer Dennis Raney said in an interview. "We've been selling Corel stock for the past year or so."
Novell sold Corel shares on 17 occasions in June in blocks as small as 9,000 shares and as large as 415,000. Novell gained the Corel stock in 1996, when it sold most of its Wordperfect line of productivity software to the company. Corel a year ago sold its operation in Orem. sltrib.com |
