PROGRAMMER'S PARADISE (PROG) Message Board

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Technology Stocks : PROGRAMMER'S PARADISE (PROG)

PROG 0.146

+6.5%

Jun 13 5:00 PM EST

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To: Zeev Hed who wrote (2194)	8/11/2000 11:56:33 PM
From: Carl R.	Read Replies (1) of 2383

According to the 8K that was filed, PROG must sell the shares of PC-Ware that it acquires. If the proceeds are less that 4.5 million euros, PC-Ware must pay the difference. If the proceeds are higher than 4.5 million euros, PROG remits half the difference to PC-Ware. Thus this is for all practical purposes an all-cash deal as PROG will end up will no interest in PC-Ware, just 14.5 million Euros ($13.1 million US dollars). The 8K also states that PC-Ware will take possession on 12/31/00, so PROG will get to keep the profitable Q4. I further note that due to the shrinking sales in Europe (primarily Netherlands and France), and the rising sales in the US, PROG is down to only 59% European sales. Carl

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