Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 50.53

+4.7%

Nov 7 9:30 AM EST

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To: Rocket Scientist who wrote (8483)	11/29/1999 5:58:00 PM
From: Rocket Scientist	Read Replies (2) of 29986

2.6 Million Shares of Globalstar 8% Convertible Preferred Stock Converted Into Common Shares biz.yahoo.com This is an interesting development; 2.6 M is about 37% of the preferred shares issued just ten months ago. Will save the company about 10M$ per year in pref'd divds. PR says the conversion was at request of the (unnamed) holders. Not clear to me why they would want to do this as there was no risk of mandatory redemption. Wonder if this is connected to the large block that moved after close last week?

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