VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: kolo55 who wrote (14546)	9/13/1999 5:40:00 PM
From: I. N. Vester	Read Replies (3) of 27311

Paul, I've got to assume that CC are good traders and would have recognized the bottom had been achieved at least for now after the rise above $5. I would think that they would have made a decision to take the lowest average or pass. It seems very, very unlikely that they would allow the price to drift up and then decide to exercise after losing some of their booty. Hard to believe that they would decided to pass given the very large bird in hand (much larger than any interest then could make at 6% unless they plan to hold for 10 years). I'm thinking it's still possible that they exercised their conversion option on Friday but we'll only get an increased share count once the common shares have been issued, which has to be within 3 days of their notification of exercising the conversion - by Weds at the latest. If they don't take that, I'll be very surprised if they don't have a deal with the company. Altho if they do have a firm deal that would be material and I'd think the company would have to make it public immediately.

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