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Gold/Mining/Energy : dba Telecom's SmarTalk ranks better than Nortel/Lucent/Mit
DBA 26.01+0.4%Jan 8 4:00 PM EST
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To: Spiney who wrote ()3/3/2000 5:35:00 PM
From: knight  Read Replies (1) of 553
 
anyone figure out this latest release, are we in for some serious dilution or what????

dba Telecom share conversion by Sutton Group

dba Telecom Corporation DBA
Shares issued 21,728,435 Mar 2 close $0.89
Fri 3 Mar 2000 News Release
Also Sutton Group Financial Services Ltd (SUG)
An anonymous director reports
Sutton Group Financial Services, the sole limited partner in SmarTalk
Limited Partnership, has exercised its right to convert its interest in the
partnership into shares of dba Telecom.
The partnership was established in 1995 to finance plastic moulds used to
produce the plastics for dba Telecom's NRG telephones. The partnership
receives payments from dba Telecom based on sales of dba's SmarTalk NRG
telephones. The agreement providing for payments gave Sutton the right,
which it has now exercised, to transfer its interest in the partnership to
dba Telecom in exchange for a number of dba Telecom common shares equal to
the net present value of future payments divided by the 30-day average
trading price of dba Telecom shares prior to the notice of transfer, which
has been determined to be 58 cents per share. An independent appraisal of
the net present value of the future payments has been commissioned. The
transaction is subject to the approval of the Canadian Venture Exchange.
The transfer of Sutton's interest in the partnership into dba Telecom
common shares will have the effect of rendering currently outstanding share
purchase B warrants exercisable at a price per share of 18.96 cents. The
terms of the B warrants state that they may be exercised only in the event
that Sutton's interest in the partnership is transferred to dba Telecom.
The number of common shares issuable on exercise of the B warrants will be
equal to 1.5 times the number of dba Telecom common shares issued to Sutton
for its interest in the partnership.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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