AremisSoft Corporation (AREM) Message Board

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Technology Stocks : AremisSoft Corporation (AREM)

AREM 0.1000

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Aug 17 5:00 PM EST

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To: Kevin Podsiadlik who wrote (392)	6/15/2001 2:31:02 PM
From: Sir Auric Goldfinger	Read Replies (2) of 683

More crap!: "AremisSoft/Buyback/Recap Plan -2:To File Proxy Statement 2001-06-15 14:27 (New York) NEW YORK (Dow Jones)--AremisSoft Corp.'s (AREM) board increased the company's share repurchase program to up to 4 million shares from 1 million, and approved a recapitalization program that would entail swapping existing common shares for new Class A stock with identical rights. As of April 27, the company had about 39.3 million common shares outstanding. AremisSoft said that to date it has purchased 1 million of its common shares under the previous buyback plan. In a press release Friday, AremisSoft said each 1.1 shares of common stock would be exchanged for one share of the new Class A stock. AremisSoft would pay cash for any fractional shares resulting from the exchange. The plan also calls for the creation of a new class of common shares, to be called Class B shares, which may be issued in a series with rights to be determined by the board. The company doesn't expect to list these shares on any public exchange, but would use them for corporate purposes, including acquisitions. The recapitalization plan is subject to shareholder approval and the continued listing of the company's shares. AremisSoft said it expects to file a proxy statement with the Securities and Exchange Commission in the near future with a proposed meeting date for a shareholder vote. It set June 25 as the record date for the proposed meeting. AremisSoft's shares recently traded at $13.75, up $1.10, or 8.7%, on Nasdaq volume of about 1.7 million shares. Avearge daily volume is 2.1 million shares. Company Web site: arermissoft.com -Cressida Connolly; Dow Jones Newswires; 201-938-5400

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